Miners Turn South African Stocks From World-Beaters to Laggards
Bloomberg 2026-06-30 05:23:36
Context: South African stocks, once a top performer, are now facing their worst quarterly slump in over two years, largely due to the decline of precious-metals miners that previously drove the market to record highs. These miners have become a significant drag on the benchmark index. The shift in fortunes has been swift and severe.
Key Facts
- The precious-metals miners that previously propelled South African stocks to a record high have become a significant drag on the market, contributing to the benchmark index's worst quarterly slump in more than two years.
- The decline of these miners has reversed the fortunes of South African stocks, which had previously been among the world's top performers.