The first quarter of 2016 has been characterized by volatility in stock markets globally, with the VIX volatility index hitting its highest point in months on 11 February.
The markets also felt the impact of low oil prices, concerns about China, and the collapse of commodity prices.
The Johannesburg Stock Exchange (JSE), which has many large resource companies listed, experienced the same volatility.
These market forces had an impact on the share price of South Africa’s largest telecommunications companies – MTN, Vodacom, and Telkom.
It was, however, not only market trends which affected the share price of local telecoms companies.
MTN faces a massive fine in Nigeria, with recent reports suggesting the fine may be increased.
Here is how Vodacom, MTN, and Telkom’s share prices have performed so far in 2016. (Based on closing price on 6 April 2016.)