Foreign investors are being forced to sell down their holdings in two more ‘SA Inc’ blue chips, following the announcement last week by index provider MSCI that the two equities would be deleted from its South Africa Index at the end of the month.
African Rainbow Minerals (ARM), with a market capitalization of R37.5 billion, and Growthpoint (GRT), valued at R35 billion, have already seen a jump in trading volumes and share price weakness – as foreign investors rush to dispose of their holdings.
The exclusion from the SA Index means these shares will also no longer feature in the MSCI Emerging Markets Index. Any exchange-traded funds (ETFs) or index funds that track these indices will need to sell down their holdings in these shares by the end of November.
Anchor: Lekan Onabanjo
Guest: Owolabi Salako, Investment Advisory Consultant, Afriduwa Partners, South Africa
#africafirst #africa #news #newscentral #newscentral #johannesburg #business #stockmarket #stockexhange
Follow News Central On:
Facebook: [ Ссылка ]
Twitter: [ Ссылка ]
Instagram: [ Ссылка ]
For more content, go to: [ Ссылка ]
#NewsCentral #AfricaFirst #Africa #News #Politics
Ещё видео!