WELLSFABER MEET THE WINEMAKER JUNE 2017
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MARKET UPDATE: WHILE THE MSCI WORLD INDEX STAYS POSITIVE, SOUTH AFRICAN BUSINESS CONFIDENCE DROPS JUNE 2017
South African Market
News flow in June tested the resolve of even the most hardened South African optimists. Not only did we face the horrendous social impact of the Cape storms and fires, but the nation’s political story line continued to amaze. In sympathy, the All Share Index lost 3.5% for the month bringing the return for the first six months of 2017 to a sedentary 1.9%. In last month’s update, we wrote about the increasingly tight personal financial situation South African’s are finding themselves in, as well as the reluctance of business to commit long-term capital in such an uncertain environment.