Market Watch | - Part 35

Market Watch: Emerging Stocks Rise as China Rallies on MSCI Index Speculation

LAGOS, Nigeria, Capital Markets in Africa: Emerging-market stocks rose to a three-week high as Chinese equities rallied amid speculation MSCI Inc. will include yuan-denominated shares in its global benchmarks and concern eased that higher U.S. interest rates will squelch global economic growth. The Shanghai Composite Index surged 3.3 percent, the most since March. South African stocks headed toward a fourth month of gains as a slump in the rand in May boosted the outlook for companies with revenue in foreign currencies such…

Nigerian Equity Markets | 24 May 2016: Market Closes Positive, Up 80bps… MPC Embraces Flexibility

Posted on by The Editorial Team

LAGOS, Nigeria, Capital Markets in Africa: As investors awaited the outcome of the MPC meeting, trading across the board was mostly cautious as marginal gains were offset by marginal losses until a mild rally that was recorded in market bellwethers in the final trading minutes ensured a positive close for the day. Consequently, the All Share Index rose 0.8% to settle at 27,231.50 points. Investors gained N74.0bn as market capitalisation rose to N9.4tn. Price appreciation in…

Nigerian Equity Markets | 23 May 2016: Market trends Southwards as MPC Meeting begins …NSE ASI down 42bps

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LAGOS, Nigeria, Capital Markets in Africa: The Nigerian Equities market opened in the red, for the first time in 5 weeks as profit taking thrived, following the impressive gains that were recorded in the previous week. As a result, the All Share Index slid 0.4% to settle at 27,015.97 points. In the same vein, market capitalisation reduced by N34.7bn to N9.3tn. The major drags to market performance today were ZENITH (-4.9%), ACCESS (-4.7%) and NIGERIAN…

Nigeria’s Stocks Enter Bull Market Even as Economy Contracts

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LAGOS, Nigeria, Capital Markets in Africa: Nigerian stocks entered a bull market as investors bought equities in anticipation of a currency devaluation that would boost share prices, even as data showed Africa’s biggest economy is in danger of a recession. The Nigerian Stock Exchange All Share Index closed at 27,129.41 on Friday, more than 20 percent above a three-year-low in mid-January. The measure fell for the first time in four days on Monday, dropping 0.6 percent to 26,978.6…

Egyptian Stocks Drop on Missing Airliner; Mideast Markets Slump

Posted on by The Editorial Team

CAIRO, Egypt, Capital Markets in Africa: Egyptian stocks declined after the nation’s flagship airline said one of its passenger planes went missing on the way back to Cairo from Paris. Most equities dropped across the Middle East as oil retreated. The EGX 30 Index fell 1.8 percent to 7,499.49 at the close. About 538 million Egyptian pounds ($61 million) of shares traded, 21 percent less than the market’s full day average over the past three months. Qatar’s QE Index lost…

Nigerian Equity Markets | 12 May 2016: Nigerian Bourse Rebounds as Downstream Oil Counters Rally… NSE ASI up 0.9%

Posted on by The Editorial Team

LAGOS, Nigeria, Capital Markets in Africa: The Nigerian equities market halted a two day losing streak as the All Share Index rose 0.9% to close at 25,865.06 points at the end of today’s trading session. Market capitalization also advanced N80.7bn to settle at N8.9tn. Today’s performance was buoyed by the gains in bellwether counters – NIGERIAN BREWERIES (+2.5%), FORTE OIL (+5.0%) and ZENITH (+1.5%) which counterpoised the impact of the decline in NESTLE (-1.5%), UNILEVER…

Nigerian Equity Markets | 11 May 2016: Nigerian Equities Market Closes Limp … NSE ASI down 6bps

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LAGOS, Nigeria, Capital Markets in Africa: The Nigerian bourse declined further at the end of today’s trading session, albeit marginally as the All Share Index eased 6bps to close at 25,630.62 points. Market capitalization settled at N8.8tn as investors lost N2.1bn. The benchmark index was dragged by the depreciation in DANGCEM (-2.1%), FLOURMILL (-4.9%), and WAPCO (-0.7%), offsetting the gains in NESTLE (+2.8%), GUARANTY (+1.2%), NIGERIAN BREWERIES (+0.4%) and TIGER BRAND (+10.0%). Market activity was…

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