Author: The Editorial Team

ABDJIAN (Capital Markets in Africa) –  Cheap valuations on West Africa’s regional stock exchange are tipped to improve its attractiveness as strength in two of the continent’s fastest-growing economies helps spur a rebound from a record slump last year. Stocks traded on the Bourse Regionale des Valeurs Mobilieres — an exchange covering seven Francophone countries and Guinea-Bissau — could be among Africa’s best performers in 2019, said Aly-Khan Satchu, chief executive officer of Nairobi-based Rich Management…

LAGOS (Capital Markets in Africa) – A growing divergence in Nigeria’s bond and equity markets may continue, as a president who’s wary of free markets extends his term for another for years. After Muhammadu Buhari won a resounding victory in his bid for re-election as Nigeria’s president, stocks slumped among the most in the world last week. Meanwhile, local bonds gave the biggest returns within EM, according to Bloomberg indexes. What gives? For equity investors,…

LONDON (Capital Markets in Africa) – The pound is outperforming peers this year and as fears of a no-deal Brexit recede, strategists see all signs pointing to more strength. There is now just a 9 percent chance that the U.K. will leave the European Union at the end of March without an agreement, according to a Bloomberg survey of banks. Much more likely is that Britain’s exit will be delayed or even that Prime Minister Theresa…

LONDON (Capital Markets in Africa) – Debenhams Plc fell as the U.K. department-store chain scrapped its profit guidance after saying talks with creditors will be more disruptive than expected. It was the fourth profit warning since early 2018 for Debenhams, which stuck to plans to shut about 50 stores as it seeks a more comprehensive restructuring after securing a temporary lifeline. Options could include issuing new shares, a debt-for-equity swap or insolvency procedures. Though sales stabilized…