Jump to navigation

Vol 37 No 18

Published 6th September 1996

South Africa

Gloomy boom

Speculators talking down the economy have helped create some bargain investments

South Africa's mood swings wildly and so do its financial markets. Less than a year ago, equity and bond markets were booming and the rand exchange rate was unusually stable and expected to stay that way. Foreign investors were running after South African securities, many for the first time. Retail investors snapped up Eurobond issues at yields of around 14 per cent and up to 17 per cent for a Eurorand issue by a Mexican parastatal bank.

End of preview - This article contains approximately 871 words.

End of preview

Subscribers: Log in now to read the complete article.

Account Holders: Log in now and use your Account Credit to buy this article. No Credit? Top up your Account now.

If you are logged in, but still cannot access the full text of this article, email customer services or telephone us on +44(0)1638 743633.