South African Stocks Close Higher for Third Day As Rand Strengthens

South African Stocks Close Higher for Third Day As Rand Strengthens

JOHANNESBUG (Capital Markets in Africa) – FTSE/JSE Africa All Share Index climbs 0.7% on Tuesday, extending gains to eight-week high. Positive sentiment around political affairs strengthened currency, leading banks and insurers to climb. Biggest gainers by percentage: Royal Bafokeng (+9.4%), MMI (+3.9%), Consolidated Infrastructure (+7%), RCL (+6.9%), Clover (+6.8%) Biggest laggers by percentage: Net1 (-10.2%), Kumba (-6.9%), Grindrod (6.1%), Capital & Regional (-5.5%), Allied Electronics (-5.4%), Trustco (-5.3%), Impala (-4.2%) Rand climbed as much as 0.9%…

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Laureate Education To Sell Morocco University to KMR Holding

Laureate Education To Sell Morocco University to KMR Holding

CASABLANCA (Capital Markets in Africa) – Laureate Education, Inc. (NASDAQ:LAUR), the world’s largest global network of higher education institutions, and KMR Holding Pédagogique, the leading state-recognized multi-disciplinary private higher education platform in Francophone Africa, have signed an agreement for the sale of Laureate’s institution in Morocco – Université Internationale de Casablanca (UIC). UIC, which opened its doors in 2010, is located in the economic and education hub of Morocco, and is the first and only…

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Egyptian Financial & Industrial Rises 5%; Trading Volume Surges

Egyptian Financial & Industrial Rises 5%; Trading Volume Surges

CAIRO (Capital Markets in Africa) – Egyptian Financial & Industrial Co. rose 4.6 percent, the biggest gain since Oct. 8, 2017 compared with end-of-day price changes and 30 times the country’s benchmark index. The shares climbed to EGP 18.10 from EGP 17.31. Trading volume was almost seven times the 30-day average of 132,061 for this time of day. Egyptian Financial & Industrial’s move compares with little change in the Egyptian Exchange EGX 30 Price Index, which was up 0.15…

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Nigeria SE Rises 2.1% to 39,746.29; Dangote Cement Leads Advance

Nigeria SE Rises 2.1% to 39,746.29; Dangote Cement Leads Advance

LAGOS (Capital Markets in Africa) – The Nigerian Stock Exchange Main-Board Index rose for the third day, climbing 2.1 percent, or 823.03 to 39,746.29. The move was the biggest since rising 2.4 percent on Aug. 1. The MSCI Emerging Markets Europe, Middle East and Africa Index declined 0.3 percent. Dangote Cement Plc contributed the most to the advance, rising 3.1 percent. Conoil Plc increased 10 percent, the biggest gain. Fidson Healthcare Plc fell 5 percent, the biggest loss. The…

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Egypt’s EGX 30 Up Most Since Nov. as Investors Target Dividends

Egypt’s EGX 30 Up Most Since Nov. as Investors Target Dividends

CAIRO (Capital Markets in Africa) – Egypt’s EGX 30 rises 1.2% to 14,953.17 in Cairo on Monday, the most since Nov. 28; Investors looking for income in the form of dividends, says Sherif Shebl, equities trader at Pharos Holding for Financial Investments in Cairo. 18 shares advance, nine drop and three are unchanged CIB up 3.2%, contributes most to index gain Biggest increase in almost a year Highest level since Nov. 2 NOTE: Lender is the biggest…

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Tunisia SE Rises 0.8%; Banque Internationale Tunisie Leads Gains

Tunisia SE Rises 0.8%; Banque Internationale Tunisie Leads Gains

TUNIS (Capital Markets in Africa) – The Tunisia Stock Exchange Tunindex rose for the second day, climbing 0.8 percent, or 51.96 to 6,316.99. The index advanced to the highest level since Sept. 12. The MSCI Emerging Markets Europe, Middle East and Africa Index was little changed, down 0.16 percent. Banque Internationale Arabe de Tunisie contributed the most to the advance, rising 3.3 percent. Societe Immobiliere Tuniso Seoudienne increased 4.2 percent, the biggest gain. Societe Tunisienne de L’Air fell 4.8…

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Tunisia SE Rises 0.9% to 6,257.24; Poulina Group Leads Advance

Tunisia SE Rises 0.9% to 6,257.24; Poulina Group Leads Advance

TUNIS (Capital Markets in Africa) – The Tunisia Stock Exchange Tunindex rose 0.9 percent to 6,257.24. The move was the biggest since rising 1.1 percent on Aug. 29 and follows the previous session’s decrease of 1.3 percent. The MSCI Emerging Markets Europe, Middle East and Africa Index was little changed, down 0.07 percent. Poulina Group contributed the most to the advance and had the biggest gain, increasing 5.3 percent. Servicom SA fell 3.2 percent, the biggest loss. The biggest movers also…

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