The JSE's outperformance continues amid precious metals rally in February

SOUTH African equities once again found themselves at the front of the pack in February with FTSE/JSE Capped All Share up 7.2% month on month (m/m).

- PETER LITTLE

SOUTH African equities once again found themselves at the front of the pack in February.

(NICOLA MAWSON Independent Newspapers)

Year to date gains of 11% placed the JSE among the top-performing major markets globally, trailing only Japan and Brazil's stock markets both up 17% year to date. Over one year, when measured in US dollar terms, the JSE up 82% is the best-performing major stock exchange, rising almost four times faster than global stocks over that period with the MSCI World up 22%. The measurement in US dollar terms is flattered by a 17% appreciation in the local currency against the greenback over the past year, including a boost of 1.3% in February.

Precious metal shares were once again a key driver of returns for the month, contributing 60% of February's JSE index returns with strong commodity price gains with gold and platinum both up 8% m/m driving share price performance with gold miners up 16% m/m and platinum miners up 12% m/m.