Following a trip to the country, NN Investment Partners' Robert Davis gives his views on the outlook for South African equity markets as new president Cyril Ramaphosa takes power.
In December 2015, a petition was handed to Brazil's Chamber of Deputies that began the long and complex process of impeaching its then President Dilma Rousseff. By then, the country had slid into a deep recession, its stock markets had been declining for several years and the value of its currency had almost halved against the dollar. The prospect and eventual delivery of a change in leadership caused Brazil to be one of the best performing equity markets in 2016, delivering almost 70% dollar returns. Small wonder that in looking for the 'next Brazil', some commentators are pointi...
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