P9 billion wiped off foreign board at BSE :: Mmegi Online

Due to the continued global economic turmoil, eight mining stocks dual listed on the foreign board of the BSE have so far lost close to P9 billion or 42 percent of their combined market capitalisation since the beginning of the year.

According to a Capital Securities' November 2008 BSE report, the P9 billion that has been wiped off the board since the opening of the year is "potentially more damaging" than meets the eye.

The report says in the month of November, of the eight Botswana mining-related stocks, three improved on their previous four-week performance, four slowed, while one was steady. The market cap of the mining-related stocks was P12,995 million. Over the last four weeks it had dropped 2.7 percent, over 52 weeks it is down 41.5 percent. Anglo American, also dual-listed, was up 26.0 percent over the four-week period.

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