The Editorial Team |

Ghana Equity Watch | 14 July 2015: Ghana equity markets indices and market capitalization bearish, US$ 80 million down

Accra, Ghana (Capital Markets in Africa):- Ghana benchmark composite index slumped by 14.33 points or 0.61 percent to end the day at 2,320.75, its year- to- date performance reduces to 2.64 percent. At the same time, the financial Index tumbled by 20.11 points or 0.85 percent to trade at 2,356.13 with a year-to-date return of 5.01 percent. The market capitalization also dropped by GHS 429 million to close at GHS 64,280.10 million relative to GHS 64,708.90 recorded at previous trading session. From the…

Moody’s Assigns First-Time Ratings to Nigeria’s Sterling Bank

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LAGOS, Nigeria (Capital Markets in Africa) —- Moody’s Investors Service has today assigned first-time ratings to Sterling Bank plc (Sterling): B2/Not Prime Local and Foreign Currency issuer and deposit ratings, which are underpinned by a b3 Baseline Credit Assessment (BCA). The outlook on all ratings is stable. Moody’s also assigned a Counterparty Risk Assessment (CRA) of B1(cr)/Not Prime(cr). Sterling Bank’s b3 BCA reflects (1) solid asset quality metrics and provision coverage; (2) improvements to the…

Mauritius Equity Watch | 14 July 2015: SEDMEX adds 14bps, SEM10 up by 17bps but DEMEX index fall by 18bps

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Port Louis, Mauritius (Capital Markets in Africa):- Mauritius equity markets ended in green today. The Mauritius All Share Index (SEMDEX index) rose by 0.14 percent or 2.73 points to close at 1,947.78 points and the SEM10 index traded at 370.23 levels, after adding 0.17 percent or 0.65 points. The market capitalization was recorded at MUR 216.549 billion. The overall total volume trade was recorded at 10.702 million with total valued traded at MUR 46.008 million. The most active…

South Africa Market Watch | 13 July 2015: Gains across South African equities market … JSE All Share index up by 1.30%, but gold miners down by 0.60%

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Johannesburg, South Africa (Capital Markets in Africa) —On the South African equity markets, most of the major sectors on the JSE gained today in line with global markets, with the exception of gold miners, helping to boost the Johannesburg Stock Exchange (JSE) All Share 1.30% higher to end at 52474.82 points. The JSE Top 40 index also grew by 1.50 percent or 691.68 points to settle at 46907.90 points and financial sector index added 1.63 percent…

Zimbabwe Market Watch | 13 July 2015: Zimbabwe equities begins in red …. ZSE industrial index down by 18 basis points

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Harare, Zimbabwe (Capital Markets in Africa):-The Zimbabwe Stock Exchange (ZSE) industrial index and market capitalization started the week on red. The industrial index somersaulted by 0.18 percent or 0.26 points to end at 144.60 points, resulting to -11.01 percent year-to-date and -22.44 on year-on-year basis. However, the mining index remained unchanged to settle at 39.72 points (-44.61 percent and 28.00 percent year-to-date and year-on-year return respectively). The market capitalization end at US$ 3.788 billion, by giving…

Nigeria Equity Watch | 13 July 2015 : Nigerian equities continue on red path … NSE all Share index 32 basis points down

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Lagos, Nigeria (Capital Markets in Africa) — Overall market performance indicators, the NSE All Share Index and market capitalisation, declined by 0.32% each to 31,628.20 points and N10.80 trillion respectively. This was amid a 38% increase in the total value traded N5.4 billion, with commercial banking giant, Zenith Bank accounting for over 50%. Dangote Cement and Nestle Nigeria accounted for about 25% and 8% of the total value traded respectively. Commercial banking concern, Unity Bank…

Nigerian Naira and Kenyan Shilling overvalued say Renaissance Capital

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Johanneburg, South Africa (Capital Markets in Africa) — Renaissance Capital finds the Kenyan shilling to be especially vulnerable but believes the Nigerian naira should weaken more than the shilling. Sub-Sahara African (SSA) currencies have in recent months come under significant pressure. Of eight SSA currencies we analysed, we found the Kenyan shilling to be especially vulnerable (as it is an overvalued currency that depreciated by less than the EUR/$). However, Nigeria’s limited policy space, implies the naira should…

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