Market Watch | - Part 19

Emerging Currencies Climb as Mexican Central Bank Steadies Peso

LONDON (Capital Markets in Africa) – A gauge of emerging-market currencies rose the most in more than three months and stocks indexes jumped as the Federal Reserve signaled a gradual pace of interest rate increases. Mexico’s peso halted a three-day slump after central-bank intervention. Fed’s minutes of its December meeting released on Wednesday showed uncertainty over the impact of President-elect Donald Trump’s policies. Emerging market stocks rallied while gold extended gains to three days and copper rose…

EFG-Hermes Halted in Cairo After Surging 10% on Revenue Outlook

Posted on by The Editorial Team

CAIRO (Capital Markets in Africa) — Egyptian investment bank EFG-Hermes halted after rising 10% to 8 1/2-year-high in Cairo, leading gains among 30 members of EGX 30 benchmark, as investors see continued benefit from dollar revenue and pick-up in brokerage business, says Sherif Shebl, an equities trader at Pharos Holding for Financial Investments. Stock suspended for 30 minutes after trading above 5%, under rules of exchange Advance supported by “high exposure to dollar; plus market…

Nigerian Equities Down by 46bps, Profit-Taking in GTBank Continues

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – The Equities market closed negative today as the All Share Index (ASI) lost 46bps to settle at 26,495.04 points while YTD loss worsened to -1.4%. Consequently, investors lost N41.9bn as market capitalization settled at N9.1tn. The negative close can be attributed in sustained profit-taking in banking stocks – GUARANTY (-4.6%) and ETI (-2.4%) – and weaker appetite for WAPCO (-2.3%). Activity level was also thin as volume and value traded fell 41.7% and 36.5% to…

South African stocks start 2017 positively, rand in the red

Posted on by The Editorial Team

JOHANNESBURG (Capital Markets in Africa) – South African stocks kicked off 2017 in positive territory as a platinum rally spurred producers of the precious metal, while dollar strength knocked the volatile rand into the red. The benchmark Top-40 index gained 0.8 percent on Tuesday, the first day of trade after the long New Year weekend, to reach 44,261.26. The benchmark All-share index ended the day 0.7 percent higher at 51,020.66. Platinum producers Lonmin and Northam were…

World’s Biggest Stock Surge After Fed Hike Isn’t Done Yet

Posted on by The Editorial Team

CAIRO (Capital Markets in Africa) – Egyptian stocks are shrugging off emerging-market losses to post the world’s biggest gains since the Federal Reserve raised interest rates. The rally may extend into 2017, according to EFG-Hermes Holding. The nation’s Nov. 3 decision to float its currency, effectively cutting its value by half, has unleashed the biggest inflows of foreign investment into the stock market since the 2011 Arab Spring. The pound’s weakness has kept the benchmark EGX 30 Index trading at a discount…

Nigerian Equity Markets | 15 Dec 2016: Banking Stocks Drive Index Higher, SE ASI up 0.6%

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – The equities market recorded gains for the 6th consecutive trading session today as the All Share Index expanded 0.6% to close at 26,559.01 points consequent on price appreciations in Banking Stocks such as UBA (+4.8%), GUARANTY (+4.4%) and ZENITH (+1.6%). Accordingly, market capitalization rose N52.1bn to settle at N9.2tn though market activity waned as volume and value traded declined 2.6% and 64.9% to close at 200.0m units and N1.5bn respectively. Banking Sector Emerges Lone Gainer…

Egypt Market Watch | Dec 15 2016: Egyptian Stock ends in green zone

Posted on by The Editorial Team

Cairo (Capital Markets in Africa) – The Egyptian Exchange finished Thursday’s trading session on a higher note, backed by foreign investors’ purchases. The main index EGX30 edged up 8.9 points or 0.08% to 11,326.03 points. The small and mid-cap EGX70 inched up 0.24% to 451.71 points. The broader index EGX100 ended higher 0.14% to 1,064.36 points and the equal-weighted index increased 5.8 points or 0.32% to 1,819.8 points. Market capitalization added EGP 571.06 billion to…

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