Market Report: Financial and property shares: is this the turning point?

By Chris Harmse

JOHANNESBURG – Although South African equity markets moved rather sideways and nervously last week financial and listed property shares performed well and may be on a brink of turning around.

Up to the previous Friday the Fin15 index was still down by 38.2 percent for the year to date and struggled to remain above the 10 000 point level.

During last week the index improved by 1 130 points (11.5 percent).

In the same manner listed property shares recovered by 5.5 percent after the index was down by more than 50 percent since December, 31, 2019.