Historical implied earnings growth numbers over the past 12 months varied quite sharply between sectors, with Resources measuring 243.8% on a year ago, while Telecommunications recorded -8.5% y/y. Since 2010, earnings growth for the JSE All-Share Index, has averaged around 13.2% p.a. Market volume traded in January was down 10.2% on the previous month and 46.2% down measured on a year ago. Since 2009, the total volume of shares traded per month had decreased by 5.6%, while the trend in terms of the total value traded on the JSE was down by 2.1% over the period.
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