The JSE has ended trading for 2016, marking a turbulent year for South Africa’s markets which saw almost half of the country’s 40 biggest companies lose share value.

However, despite the ‘adverse economic conditions’, most of the biggest companies profited from a year of local and international political and economic shocks.

Notably, 2016 saw a resurgence in the embattled mining sector, which has been in steady decline on the JSE for some time. Mining stocks were bolstered by relatively steady labour conditions throughout the year, while also reaping the benefits of global economic uncertainty around the Brexit and US Trump victory, which pushed investors back into ‘safe’ bets such as gold.

Anglo American more than tripled its stock values from the start of the year – starting at a weakened position of just under R65 a share, and closing off 2016 at R195 – over 200% growth.

Glencore, having sold off the loss-making Optimum Coal business in 2016 also enjoyed the reignited confidence in the gold and mining sector, seeing its stock price rise 134% since January.

South Africa’s financial sector also ended the year in a stronger position, having lost significantly in the first quarter of the year due to the fallout from the infamous “NeneGate” decision in December 2015 which adversely impacted South African markets for much of the first half of 2016.

Standard Bank, Nedbank, Capitec, Absa and FirstRand all recorded growth in 2016, ending between 30%-40% higher.

JSE winners in 2016

Company January Share Price (ZAR) December Share Price (ZAR) Change (%) Anglo American 64.89 195.10 +200.7% Glencore 19.95 46.68 +134.0% South32 11.70 27.24 +132.8% Anglo American Platinum 173.00 264.41 +52.8% Standard Bank 108.10 151.75 +40.4% Tiger Brands 292.79 397.83 +35.9% Nedbank 175.39 238.13 +35.8% FirstRand 39.25 53.17 +35.5% Anglo Gold Ashanti 114.80 152.58 +32.9% Capitec 523.99 695.00 +32.6% Billiton 167.77 218.68 +30.3% Barclays Africa 130.92 168.69 +28.8% RMB Holdings 52.74 66.40 +25.9% Shoprite 136.51 171.46 +25.6% Redefine Properties 8.94 11.19 +25.2% Growthpoint Properties 21.41 25.59 +19.5% Sanlam 55.14 62.90 +14.1% Rand Merchant Investment 36.77 39.80 +8.2% Sibanye Gold 24.17 25.39 +5.0% Vodacom 146.42 152.40 +4.1% MTN 122.31 126.17 +3.2% Gold Fields 43.36 43.59 +0.5%

However, some of South Africa’s big companies did not escape the year unscathed – with the most notable ‘losers’ of the year suffering from the Brexit blues, due to their links to the UK.

Britain’s decision to exit the European Union shook UK markets, leading to the significant weakening of the pound against other currencies, including the rand. For South African companies with strong trade in the UK – Old Mutual, Investec, Brait, Steinhoff, etc – this was bad news.

Another stock marred by uncertainty was that of global brewery giant, AB InBev, which took over as the JSE’s mainline brewery stock after acquiring SABMiller. Another victim of the Brexit, the brewer started the year strong, but ended over 25% weaker.

JSE losers in 2016

Company January Share Price (ZAR) December Share Price (ZAR) Change (%) Brait 161.00 87.56 -45.6% Mediclinic 195.45 130.00 -33.5% Intu Properties 69.06 46.98 -32.0% AB InBev 1 944.00 1 456.79 -25.1% Woolworths Holdings 94.52 71.02 -24.9% Bid Corp 304.00 245.15 -19.4% Richemont 107.91 90.74 -15.9% Investec Plc 106.5 90.75 -14.8% Reinet Investments 30.7 26.80 -12.7% Discovery Holdings 124.84 114.50 -8.3% Old Mutual 37.43 34.44 -8.0% Steinhoff 76.47 71.28 -6.8% Remgro 238.21 223.05 -6.4% British American Tobacco 826.59 778.61 -5.8% Mondi Plc 290.88 279.99 -3.7% Aspen Pharmacare 292.33 283.58 -3.0% Naspers 2 060.00 2 014.09 -2.2% Sasol 406.4 398.90 -1.8%

Share prices taken from Bloomberg, 2 January 2016 and 30 December 2016.

Read: The rand’s performance in 2016