The Editorial Team |

Nigerian Naira Black-Market Rate Weakest in Three Years (1)

LAGOS (Capital Markets in Africa) — The Nigerian currency depreciated to its weakest level since February 2017 in the unofficial black market after the country’s central bank cut supply to dealers. The local unit traded at 415 naira per dollar according to abokiFX.com, which collates rates from street-traders in Lagos. In the official spot market, the naira traded 386.51 per dollar as of 4:15 pm in Lagos, the highest it has traded in 24 years….

This Tiny U.K. Drugmaker Has Soared More Than 800% in Stock Rout

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LONDON (Capital Markets in Africa) — As the world scrambles to fight the deadly coronavirus, a microcap U.K. pharmaceutical company has seen its stock surge. Shares in Synairgen Plc have soared 845% this year, with gains accelerating in mid-March after the company got approval from U.K. regulators to start trials of its drug, SNG001, in people hospitalized with Covid-19. The company has a market capitalization of just 67 million pounds ($83 million), even after the share-price jump….

Treasuries Stare Over Negative Rates Abyss After Fed’s Bank Move

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NEW YORK (Capital Markets in Africa) — Negative yields in the $17 trillion Treasury market is a step closer to reality after the Federal Reserve eased banking capital requirements. The move by the Fed allows banks to take on more leverage so they can absorb a lack of liquidity for Treasuries, following a turbulent few weeks. Two-year yields touched the lowest level since 2013 after the announcement, and are hovering just over 20 basis points…

Main Street Banks Are About to Show How Much Risk They Face

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NEW YORK (Capital Markets in Africa) — Executives at regional U.S. banks often say they’re only going to do as well as their clients. That’s now more true than ever. Investors are focused on which firms are exposed to the wrong industries as the coronavirus pandemic roils the economy, and they plan to scour for clues as the lenders report results in coming weeks. Bank stocks have plunged as the duration and severity of the…

Podcast: Navigating a Stock Market Crisis By Baillie Gifford

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LONDON (Capital Markets in Africa) – This podcast by Baillie Gifford explores how investors can navigate a stock market crisis. To listen to the podcast

Coronavirus and Oil Price Crash

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LAGOS (Capital Markets in Africa) – Coronavirus (COVID-19) creates fear and uncertainty, hitting the global economy and amplifying the volatility of the financial markets. The oil price reaction to COVID-19 was gradually accommodated until March 09, 2020, when, 49 days after the release of the first coronavirus monitoring report by the World Health Organization (WHO), Saudi Arabia floods the market with oil. As a result, international prices drop with more than 20% in one single…

Brighter than expected, but cloudy in patches by Nuveen

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LAGOS (Capital Markets in Africa) – During the Cold War, a group of atomic scientists began publishing the Doomsday Clock, a representation of how far away the world was from man-made destruction. It was originally set at seven minutes to midnight but has since been readjusted to between 17 and two minutes to, without quite ticking on to Armageddon. More than a decade since the global financial crisis, real estate investors are rather like the…

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