Market Watch | - Part 17

Kenyan Bourse Develops Equity Index, Single Stock Futures

NAIROBI (Capital Markets in Africa) – Nairobi Securities Exchange has sought regulatory approval to introduce products in derivatives market, Capital Markets Authority says in e-mailed statement. Regulator proposes to charge fee not exceeding 0.14% per value of equity index futures contract, 0.17% per value of single stock futures contract. Proposed fees will “give investors exposure to price movements in the derivatives instruments rather than the underlying individual constituents”. Charges cover securities exchange, clearing member, trading…

Nigerian Equity Market Sustained Rally in Banking Sector buoys Market Performance

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – It was a positive trading day for Nigerian equities market as the All Share Index (ASI) added 18bps to close at 26,373.83 points. Consequently, market capitalization improved by N16.5bn to settle at N9.1tn. Today’s positive performance was driven by further gains in Tier-1 lenders – ZENITH (+2.1%), ETI(+4.3%) and ACCESS (+2.9%). Market activity, however, remained mixed as volume traded improved by 17.1% to settle at 174.0m units while value traded fell 68.7% to settle at…

Kenyan Stocks, World’s Worst This Year, Set to Fall Further

Posted on by The Editorial Team

NAIROBI (Capital Markets in Africa) – Kenyan stock prices at more than three-year lows may have further to fall with domestic investors favoring bonds and foreign buyers waiting for lower valuations, the head of the bourse said. Shares on the Nairobi Securities Exchange have dropped 6.9 percent since Jan. 1, extending last year’s 8.5 percent decline, because of jitters among investors about elections scheduled for August. The yield on Kenya’s benchmark 10-year bond has fallen almost 200 basis points to…

Foreign Purchases of Local Egypt Debt May Reach $11 Billion

Posted on by The Editorial Team

CAIRO (Capital Markets in Africa) – Egypt sees foreigners buying as much as $10 billion to $11 billion in local Treasury bills and bonds in the coming period, Finance MinisterAmr El-Garhy told reporters Sunday. Government moves to reform the economy and growing investor confidence are underpinning the gradual return to levels achieved before the 2011 uprising that ousted President Hosni Mubarak, he said. Foreign holdings of Egyptian debt rose by as much as $900 million after authorities floated…

Foreigners Dump S. African Stocks in Longest Streak for 5 Months

Posted on by The Editorial Team

JOHANNESBURG (Capital Markets in Africa) – Foreigners were net sellers of South African stocks for the first four days of this week, the longest sequence in almost five months, as they reduced holdings in companies including some of the country’s largest retailers. Retailers Shoprite Holdings Ltd., Mr. Price Group Ltd., and Woolworths Holdings Ltd. were among stocks most heavily sold by foreign investors, along with Richemont, Naspers Ltd. and MTN Group Ltd., figures from Johannesburg’s stock…

Emerging Markets Gain in Week as Investors Ponder Trump Policies

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – Emerging-market currencies headed for their longest stretch of weekly gains in 20 months as investors questioned the pace of possible U.S. interest-rate increases. Ukraine’s hryvnia tumbled the most among peers and Turkey’s lira retreated after the biggest surge in more than a year. The MSCI gauge of developing-nation currencies climbed for a second day. A similar equity measure was little changed on Friday, on course for its third weekly advance. Brazil’s…

Sentiment Bearish as Nestle Drags Index Lower in Nigerian Equity Markets

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – Sentiment was bearish today on the Nigerian Bourse as the All Share Index shed 0.2% to close at 26,330.39 points consequent on price declines in large cap stocks such as NESTLE (-2.4%), FORTE(-9.2%) and ETI (-3.0%). Accordingly, investors lost N19.1bn as market capitalization settled at N9.1tn. However, market activity was mixed as volume traded waned 9.2% to 179.3m units while value traded surged 42.4% to close at N1.5bn. Banking Sector Emerges Lone Gainer Performance…

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