The Editorial Team |

Nigerian Equity Markets | 16 Nov 2016: Equities Extend Bearish Streak to 5th Session …NSE ASI down 0.2%

LAGOS (Capital Markets in Africa) – The bearish sentiment in the Nigerian bourse continued as sustained sell-offs in bellwether equities dragged the index down 0.8% to berth at 25,653.14 points (a 25-week low) whilst YTD loss worsened to -10.4%. Bearish sentiment towards NESTLE (-1.8%), GUARANTY (-1.8%), and FORTE (-7.4%) impacted market performance as investors lost N70.2bn in value, bringing market capitalization down to N8.8tn. However, activity level remained mixed as volume traded dipped 23.2% to…

OPINION: What Trump’s Presidency mean for Africa’s Economy?

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LAGOS (Capital Markets in Africa) – The ‘’Trump victory” in the United States drew very similar surprises and developed market angst compared with the “Brexit leave” vote in June this year. The prospect of restrictive migration policies, more trade barriers, and protectionist policies which according to their advocates will stimulate job creation and address income equality at home should be considered as a plausible response in shaping the Sub-Saharan African economic landscape in the future….

South Africa’s Mr Price reports first drop in profit in 15 years as economy sours

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JOHANNESBURG (Capital Markets in Africa) – South African no-frills retailer Mr Price said on Monday it expected low sales for the rest of the financial year after reporting its first decline in profit in 15 years, sending its shares to a three-year low. Sluggish economic growth in South Africa, seen at less than 1 percent this year, coupled with rising interest rates and inflation and a warmer than expected winter have forced clothing retailers to…

South African equity funds fail to beat the benchmark over five years

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JOHANNESBURG (Capital Markets in Africa) – South African equity markets once again lagged global markets over the past year. This underperformance can partly be attributed to the contraction of 1.2% in the country’s GDP in the first quarter of 2016, which was principally due to a significantly lower production in platinum group metals over the period. The sense of unease was further compounded when S&P Global Ratings warned that it may strip the country of…

Algeria raises over $5 bln in local debt issue says Finance Minister

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ALGIERS (Capital Markets in Africa) – Algeria, faced with financial difficulties from the fall in oil prices, has raised 568 billion dinars ($5.210 billion) from a local bond issue aimed at helping offset lower energy revenues, the finance minister said. Oil and gas revenues account for 94 percent of OPEC member Algeria’s exports and 60 percent of the state budget. The government has reduced spending in 2015 and 2016 and planned further cuts for 2017….

Smaller deals in focus as big private equity fades in Africa

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JOHANNESBURG (Capital Markets in Africa) – A family-owned grocery chain selling lychees and almond milk would have been an unlikely target when giant private equity funds were spending big in Africa. But as times have got tougher for investors, small and midsize businesses like Food Lover’s Market are making up the bulk of deals on the continent. Two years ago, an $8.1 billion investment spree by some of the world’s biggest private equity funds led…

Nigeria Capital Markets Update Week Ending Nov 11 2016

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Equities Market Review and Outlook Unperturbed by events in the global political environment, the Nigerian equities market maintained its bearish momentum. The local Bourse closed lower all through the week save for Thursday due to strong interest in Banking Stocks. Consequently, the All Share Index (ASI) slumped 3.0% W-o-W in contrast to the dramatic surge in share prices in major exchanges around the world. The weak performance of the benchmark index was driven by heavy…

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