UBS Wealth Has Good Things to Say About EM, Not South Africa

UBS Wealth Has Good Things to Say About EM, Not South Africa

JOHANNESBURG (Capital Markets in Africa) – There’s one emerging market country that Michael Bolliger can’t get bullish about at the moment: South Africa. President Jacob Zuma is fighting to stay out of court before the African National Congress votes for a new leader in December. He’s pushing for his ex-wife to succeed him, but most analysts in a Bloomberg survey think the nation’s Deputy President Cyril Ramaphosa probably will. It’s more noise for a market that has already paid a price…

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INTO AFRICA August 2017 Edition: Delivering Value via African Capital Markets

INTO AFRICA August 2017 Edition: Delivering Value via African Capital Markets

LAGOS (Capital Markets in Africa) – Welcome to the August edition of INTO AFRICA, the publication with fresh insight into Africa’s emerging markets. This month edition focuses on Capital Markets in Africa and titled: Delivering Values via African Capital Markets. The capital market is one of the key components of the engine of a modern economy, as it mobilises and pools savings from the public and efficiently channels them into business investments. It also helps…

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Market Watch: Egyptian Major Equity Indices End in Red, Market Cap up EGP1bn

Market Watch: Egyptian Major Equity Indices End in Red, Market Cap up EGP1bn

Cairo (Capital Markets in Africa): The benchmark EGX30 index of the Egyptian Exchange (EGX) fell at Wednesday’s close by 0.08% or 10.4 points to the level of 13,707.13 points. Similarly, the EGX70, EGX100, and EGX50 indices declined by 0.25%, 0.10%, and 0.23%, respectively. The market capitalization increased by EGP 1 billion to EGP 708.99 billion. Trading volume reached 276.79 million shares exchanged at EGP 804.6 million through 23,200 transactions. Foreign and Arab traders were net…

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Market Watch: Key Egyptian Equity Indices down, Market Cap up EGP8bn

Market Watch: Key Egyptian Equity Indices down, Market Cap up EGP8bn

CAIRO (Capital Markets in Africa) – The Egyptian Exchange (EGX) ended Tuesday’s (18th July 2017) trading session in red, pressured by the selling activity of Arab and foreign investors. The main index EGX30 lost 1.71% or 140.55 points, and closed at the level of 13,717.53 points. The equal-weighted index EGX50 declined by 1.19% to 2,115.55 points. Similarly, EGX70 went down by 1.51% and closed at 669.21 points, while the broader index EGX100 decreased by 1.58%…

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Market Watch: Egyptian Equity Indices Drops Amidst Local Investor Sell-Off

Market Watch: Egyptian Equity Indices Drops Amidst Local Investor Sell-Off

Cairo (Capital Markets in Africa) – The Egyptian Exchange’s (EGX) indices dropped collectively at Sunday’s (16th July 2017) close due to selling pressures from local investors. The benchmark EGX30 inched down 0.05% to 13,815.77 points. Sameh Gharib, head of technical research at Roots Stock Brokerage House, said that EGX30 closed at the level of 13,815 points losing 6 points from 13,864 points due to selling pressures, which began Thursday. After passing the level of 13,700…

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Nigeria Best Stock Performer Sees `Huge’ Growth on Vaccines

Nigeria Best Stock Performer Sees `Huge’ Growth on Vaccines

LAGOS (Capital Markets in Africa) – May & Baker Nigeria Plc, which is establishing Nigeria’s sole vaccine-production facility in a partnership with the government, said it expects sales to soar when it starts manufacturing them within two years due to a shortage of supply in the region. “There is a huge potential for May & Baker,” Chief Executive Officer Nnamdi Okafor, 56, said in an interview in Lagos, Nigeria’s commercial capital. Revenue for the nation’s second-biggest pharmaceutical…

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Nigerian Equities Rebound on account of Bargain hunting… NSE ASI up 7bps

LAGOS (Capital Markets in Africa) – The Nigerian equities market bucked a 3-day losing streak as the All Share Index (ASI) added 7bps to close at 25,496.71 points. Also, market capitalization increased by N6.5bn to settle at N8.8tn while YTD loss pared to -5.1%. Today’s performance was mainly driven by gains in GUARANTY (+1.7%), NIGERIANBREWERIES (+1.2%) and FBNH (+3.2%). On the contrary, market activity declined as volume and value traded fell by 38.5% and 35.2% to settle at 247.7m units and…

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