The Editorial Team

OPEC agrees to keep pumping as fears of a global oil glut persist

Vienna, (Capital Markets in Africa) – Oil group OPEC agreed to stick by its policy of unconstrained output for another six months on Friday, setting aside warnings of a second lurch lower in prices as some members such as Iran look to ramp up exports. Concluding a meeting with no apparent dissent, Saudi Arabian Oil Minister Ali al-Naimi said the Organization of the Petroleum Exporting Countries had rolled over its current output ceiling, renewing support…

Angola’s central bank devalues kwanza by about 6 pct

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Luanda, Angola (Capital Markets in Africa) – Angola’s central bank devalued the kwanza currency by about 6 percent against the dollar, a statement showed, a move analysts said was aimed at stimulating foreign currency inflows eroded by falling global oil prices. According to the bank’s latest update on the official exchange rate, issued late on Thursday, one U.S. dollar will now cost 116-117 kwanza, compared with 109-111 before. The exchange rate is however much higher…

African Stock Market Performance at the end of May, 2015

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Lagos, Nigeria (Capital Markets in Africa):- African stock market performance across the region has remained fairly flat (with merely -0.8% average return) for local investors in the month of May 2015. Figures for the Market Performance Month of May saw the Exchanges record high’s of 4.9% and 4.0% in Botswana and Ghana respectively. Several Markets went the other way recording losses ranging from 0.2% to 6.7% lead by the markets of South Africa (depreciated by 4.0%), Kenya (depreciated by 6.4%) and Namibia (down by…

Ethiopia eyes bond trading in cautious capital markets opening

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Addis ababa, Ethiopia (Capital Markets in Africa) — Ethiopia is seeking to create a secondary market for local currency Treasury bonds, possibly in a year or so, a move seen as a cautious step towards liberalizing one of Africa’s fastest growing economies. Ethiopia has become an increasingly attractive destination for foreign investors although the government tightly controls what sectors they can invest in. Prime Minister Hailemariam Desalegn said last month that Ethiopia was open to opening…

Mauritius Market Watch | June 4th 2015: Mauritius equity market sustains positive trend, SEMDEX 0.40% and SEM10 0.54%

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Port Louis, Mauritius (Capital Markets in Africa):- Mauritius equity market indices ended the session in positive territory today. The Semdex gained 0.40 percent to 1967.64 points and the SEM-10 rose by 0.54 percent to 373.45 points. The market capitalization was recorded at BWP 218.757 billion. With regard to market activity, total market turnover amounted to MUR 106.5 million mainly geared towards SBM Holdings which accounted for 80.8 percent of total market turnover. SBM Holdings traded at a low…

Botswana Market Watch | June 4th 2015: Botswana equity market index ends in positive, adds 0.05 percent

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Gaborone, Botswana (Capital Markets in Africa):- The Botswana domestic composite index ended on positive trend, adding 0.05 percent to extend its year-to-date growth by 11.31 percent. However, the foreign composite index remained flat to close at 1,569 points and year-to-date return is still in the red at -0.47. The equity market capitalization fell by BWP 93 million to end the day at BWP 382,236 million. From the market activity viewpoint, the market total volume was recorded at 7.899 million valued at…

Nigeria Market Watch | June 4th 2015: Nigerian Equities Market All Share Index Records Highest Decline in 8 Weeks

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Lagos, Nigeria (Capital Markets in Africa):- The Nigerian Equities market sustained its losing streak today, declining 1.2% to berth at 33,476.77pts. Market capitalization also decreased N88.6bn to settle at N11.4tn. Performance of the equities market today was broadly driven by price depreciations in banking bellwethers — ZENITH (-4.8%), UBA (-3.6%) and GUARANTY (-2.4%). Similarly, market activities weakened, as volume and value traded shrank 18.5 %( 205.8m units) and 35.9 %( N2.2bn) accordingly. NSE sector performance was…

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