It turns out that not knowing what is going to happen from one week to the next is great for trading volumes.
A little-noticed revelation last week was just how well the JSE is doing out of Covid-19 and the jittery investor sentiment it has sparked across the globe.
“The number of equity trades has been double the average of previous years,” the JSE’s recently appointed CEO Leila Fourie told shareholders at the annual general meeting last week. But the listed market regulator is not relaxing. It refers to the “structural impediments and low growth environment facing the South African economy and financial markets”. This is why it’s determined to finalise deals such as the purchase of share registry Link Services; a deal the competition authorities aren’t too happy about, which is understandable given the JSE’s unique position as a regulator.
The JSE allowed voice questions but the sound quality was poor. For some reason SBG was unable to deal with the technical requirements needed to allow voice questions so shareholders had to send through written questions, which didn’t help ease tensions between the bank executives and the shareholder activists who were concerned about lack of independence of some board members.
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