Company Data
| Last traded |
R14.86 |
| Change |
R-0.04 |
| % Change |
-0.27% |
| Cumulative volume |
362,042 |
| Market cap |
R8.90bn |
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Johannesburg - Despite concern over global unemployment and Europe's debt issues, world trade seems to be healthy - judging from shipping container volumes.
In a recent newsletter to clients, Stanlib director Paul Hansen pointed to an 18% year-on-year rise in container volumes, remarking "world trade is strong in 2010". Information was collected by Macquaries Equities Research among 200 container ports in 58 countries.
This confidence, however, does not seem to reflect in the share price of JSE-listed shipping group
Grindrod [JSE:GND]. Since April, the share has slid from a high of 1 730c to trade at around 1 420 cents per share.
However, when Grindrod reported its full-year results in February, CEO
Alan Olivier was upbeat on activity levels. "The improved economic activity - mainly driven by growth in China and India - has led to increasing commodity demand, generally higher commodity prices and a substantial rise in trade volumes."
While container data would suggest the economy is on the rebound, there have been a number of shocks around the world. These include a perceived slowdown in economic activity in China, and recent data showing a sharp decline in the US markets.
If either of these heavyweights lose momentum, it could have a negative effect on global economic growth.
- Fin24.com