Foreign Holdings of Egypt Debt Reach $7.5 Billion, Official Says

Foreign Holdings of Egypt Debt Reach $7.5 Billion, Official Says

CAIRO (Capital Markets in Africa) – Foreign investors are lapping up Egypt’s local-currency debt. Overseas holdings of Treasury bills rose by more than 10 percent in a week to 136 billion pounds ($7.5 billion) as of May 30, Samy Khallaf, head of the Finance Ministry’s public debt division, said on Wednesday. That compares with about 10.1 billion pounds at the end of December, central bank data show. Investors have been pouring money into Egyptian debt and…

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Bargain Hunting Pushes Nigerian Benchmark Index to Close Higher

Bargain Hunting Pushes Nigerian Benchmark Index to Close Higher

LAGOS (Capital Markets in Africa) – Performance in the Nigerian equities market deviated from the 2-day bearish trend, as the All Share Index (ASI) rose 0.4% to close at 25,130.26 points while YTD loss trimmed to -6.5%. Consequently, investors gained N33.9bn as market capitalization improved to N8.7tn. Gains in counters which had previously declined –  NIGERIAN BREWERIES (+4.2%), DANGCEM (+0.6%) and FORTE (+10.2%) – ensured the market closed positive. However, market activity was mixed as volume traded rose 11.7% to settle at…

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Egypt Stocks Jump Most Since March on Currency Devaluation Hints

Egypt Stocks Jump Most Since March on Currency Devaluation Hints

CAIRO, Egypt, Capital Markets in Africa: Egyptian stocks advanced the most since March after the central bank hinted it may devalue the local currency. The EGX 30 Index rose 2.9 percent to 7,182.8 at the close in Cairo. About 609 million Egyptian pounds ($69 million) of shares traded, the most since May. The rally came a day after Central Bank Governor Tarek Amer said that the policy of defending the pound in the past five years was a “grave mistake,”…

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Devaluation Bets Send Egyptian Stocks Rising to August High

Devaluation Bets Send Egyptian Stocks Rising to August High

CAIRO, Egypt, Capital Market in Africa — Egyptian stocks surged to an eight-month high on speculation that authorities will devalue the currency for the second time this year. Local investors fueled a fifth day of gains as a persistent dollar shortage forced the Egyptian pound to a record low in black market trading. The nation’s decision to weaken its currency by the most in 13 years last month has so far proved insufficient to attract foreign investment…

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Morocco Equity Markets | 21 Mar 2016: Moroccan Stocks Climb to 7-Month High, Led by Lafarge

Morocco Equity Markets | 21 Mar 2016: Moroccan Stocks Climb to 7-Month High, Led by Lafarge

Casablanca, Morocco, Capital Markets in Africa —Casablanca Stock Exchange witnessed positive return at the end of Monday’s equity trading session. The Moroccan benchmark stock index (measured as MASI Index) went up 1.21 percent to end at 9,409.94 points (with a year-to-date performance to 5.43 percent) with total market capitalization at MAD 471.621 billion (a fall of MAD 4.84 billion or US$28 million relative to previous market capitalization of MAD 466.778). The market activity measured as total…

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Egypt Equity Markets | 09 Mar 2016: Egypt’s bourse benchmark maintains gains, market cap US$192m higher

Egypt Equity Markets | 09 Mar 2016: Egypt’s bourse benchmark maintains gains, market cap US$192m higher

Cairo, Egypt, Capital Markets in Africa — Egypt Exchange equity trading ended in a positive mood for the fifth session in a row at the end of today’s session, the highest level in two months. The equity market capitalization added nearly EGP 1.5 billion (about US$192 million) to end at EGP 402.892 billion relative to the previous market capitalization of EGP 401.359 billion.    The benchmark index EGX30 gained 32.80 points or 0.52 percent to close at 6,372.64…

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African Stock Market January 2016: Tunisia equity triumph, rewards investors amid of global equity markets panic

African Stock Market January 2016: Tunisia equity triumph, rewards investors amid of global equity markets panic

LAGOS, Nigeria, Capital Markets in Africa — Global equity markets opened 2016 on a panic mood amid of negative outlook on China’s growth prospects and commodity slumps. As a result, African equity market performance measured by country equity benchmark index returns ended in negative for the month, with four gainers and fourteen losers on the local currency basis. Still on local basis return, the January’s average return of -3.0 percent (relatively to  -0.9 percent in…

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