South African Equities

The local market opened 2025 on a positive note, shrugging off the hangover of the previous three negative months, as the ALSI closed higher by 2.2% on the back of stronger resources prices compared to December. 

The RESI was the best performing sector, up 18% in January with the top performing shares being Harmony Gold up 42.3%, AngloGold up 34.3% and Goldfields up by 30.8%. The next best performing sector was industrials, firmer by 0.9% despite Naspers and Prosus ending weaker by 5.4% and 4.1% respectively, while Financials and Property were the worst performers, weaker by 2.7% and 2.3%, respectively. Other shares to note were MTN higher by 25%, Vodacom up by 8% and Richemont up by 31%. Underperformers were Mr Price, weaker by 15%, Foschini also down by 15% and Truworths softer by 17%.