Market Watch | - Part 17

Goldman’s Contrarian View on South Africa’s Rand

JOHANNESBURG (Capital Markets in Africa) – There’s still some momentum left in South African rand’s rally, according to Goldman Sachs Group Inc. The 148-year-old Wall Street lender predicts the currency will extend its 17 percent gain since the beginning of 2016 to end the year at 13 per dollar, a level last seen in 2015. That’s a view shared by only three out of 26 analysts in a Bloomberg survey: the median forecast is for the currency…

Rand Merchant Bank lists US Dollar Custodial Certificates on JSE

Posted on by The Editorial Team

JOHANNESBURG (Capital Markets in Africa) – Rand Merchant Bank (RMB), has listed an innovative new product on the Johannesburg Stock Exchange (JSE), which will enable companies and individuals to hold unlimited quantities of cash in US dollars. US Dollar Custodial Certificates (DCCs), listed on the Exchange Traded Funds sector of the JSE on 24th January, are easily tradable, dollar-denominated investment instruments which have no exchange control implications. Investors earn the return of a US Treasury…

Nigerian Equities Pare Gains on Bearish Sentiment on Large Cap Stocks …NSE ASI down 5bps

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) -The equities market halted two consecutive days of gains on account of negative sentiment towards bellwether Banking and Consumer Goods counters – ZENITH (-3.5%), NIGERIAN BREWERIES (-1.4%) and 7UP (-5.0%). The Benchmark index settled at 26,217.54 points, down a marginal 5bps while market capitalization declined N4.8bn to close at N9.0tn. Accordingly, YTD return remained at -2.4%. However, market activity was mixed as volume traded dropped 17.9% to 187.7m units and value traded surged 304.3% to N10.4bn…

Nigeria Stock Market Consumer Goods Index Marginally Drives Index Higher, NSE ASI up 3bps

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – The Nigerian bourse opened the week slightly positive as bargain hunting in the Brewers drove the index to a close of 26,231.37 points, up 3bps. Although sustained sell-down pressure on NESTLE (-3.4%) remained a drag, renewed investor interest in NIGERIAN BREWERIES (+1.7%), GUINNESS(+2.2%) and OANDO (+3.9%) buoyed market performance as market capitalization added N2.7bn to close at N9.0tn. Similarly, activity level strengthened as volume and value traded improved 12.5% and 27.5% to 228.6m units and…

Kenyan Bourse Develops Equity Index, Single Stock Futures

Posted on by The Editorial Team

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…

« 1 … 15 16 17 18 19 … 201 »