News driving markets and midday stock update

 News driving markets and midday stock update

News driving markets and midday stock update.

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SA Economy may take up to four years to recover from Covid-19 impacts

According to Chief economist and head of research for Absa, the South African economy may take between three to four years to recover and return to pre-Covid-19 levels. During the 2008/09 global financial crisis, it took the economy five quarters to recover, however it took five years to recover the jobs which were lost.

Significant recovery observed in building and construction sector

The fourth quarter of 2020 presented increased activity levels in both the building and construction sectors and the latest Afrimat Construction Index revealed an improvement to 111.3 in the index, 60% higher than it had been during the second quarter of 2020, when the Covid-19 lockdown was implemented to curb the spread of the virus.

Best Midday Stocks

1. Shoprite Holdings Ltd (JSE:SHP)
SHP stocks opened on 153.42 ZAR and currently show a price movement of +R4.54/+2.99% to R156.18. SHP stocks currently show a HOLD consensus forecast.

2. Pepkor Holdings Ltd (JSE:PPH)
PPH stocks opened on 16.20 ZAR and currently show a price movement of +R0.41/+2.58% to R16.32. PPH stocks currently show a HOLD+ consensus forecast.

3. Truworths International Ltd (JSE:TRU)
TRU stocks opened on 50.49 ZAR and currently show a price movement of +R1.32/+2.67% to R50.74. TRU stocks currently show a HOLD consensus forecast.

4. Barloworld Ltd (JSE:BAW)
BAW stocks opened on 94.00 ZAR and currently show a price movement of +R1.85/+2.00% to R94.27. BAW stocks currently show a HOLD consensus forecast.

5. Bytes Technology Group plc (JSE:BYI)
BYI stocks opened on 80.60 ZAR and currently show a price movement of +R1.01/+1.19% to R85.82. There is currently no analyst coverage to provide a consensus forecast on BYI stocks.

Liezel Thorne

Liezel is a content writer with a passion for writing about the financial industry and corresponding markets. Her favorite topics include Forex, Stocks and Indices, Cryptocurrencies, and anything relating to trading technology – news, newest and latest tips, tricks, and trends. She has done extensive reviews on brokers, trading platforms (web, desktop, and mobile), and various other concepts involved with trading. As a student of Environmental management, she has a keen interest in geography, environmentalism as well as conservation of both fauna and flora.

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