Sappi, Naspers, Imperial are all bucking the trend

CAPE TOWN – There is risk of a second sell-off of shares this year due to a possible worsening of the global Covid-19 pandemic locally and abroad, and the growing vulnerability of the US economy.

Moving with most stocks markets around the world, the JSE All Share Index (Alsi) has staged a relatively healthy recovery from its March lows.

The index was trading at 50019.69 points on Friday, which is a 34.5percent recovery from the 52-week low of 37177.92points that it traded at in March.

But it is a partial recovery. The 150 companies that make up the Alsi are still trading 14percent lower on average than they were on February 17.

Investors seem more positive in the US. US markets fell 33percent, the biggest monthly decline in US history, in March. They then staged a 30percent recovery in April.