Market Watch | - Part 39

African Sovereign Eurobond February 2016: Spreads Narrrowing amidst unchanged Fed Rate

Lagos, Nigeria, Capital Markets in Africa — African sovereign Eurobonds spreads narrowing in February compared to January spreads. This is as a result of the US Federal Reserve signalled that the Fed has put future rate hikes on hold but will continue to monitor closely developments in the global economy and financial markets. In addition, crude-oil price recovery on hopes that key oil producers aimed at freezing or cutting current levels of production and couple with the…

Nigerian Equity Markets | 24 Feb 2016: Equities Slide on Banking Stocks Rout… NSE ASI sheds 0.9%

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Lagos, Nigeria, Capital Markets in Africa —The Nigerian bourse closed southwards to extend losses to the 3rd trading session amid sell-offs in banking and consumer goods bellwethers. The All Share Index declined 0.9% settling at 23,883.34 points. The negative market performance was broadly driven by price depreciation in GUARANTY (-3.8%), ZENITH (-5.0%) and GUINNESS (-5.0%). The market lost N68.4bn in value as market capitalization reduced to N8.2tn. Activity level was mixed as volume grew 33.6% while value traded dipped 3.3% to…

Foreign Investors Net Buyers of South African Shares and Bonds

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Johannesburg, South Africa, Capital Markets in Africa — Foreign Investors net buyers of South African shares and bonds on February 16, according to the figures released by Johannesburg Stock Exchange Limited, South Africa. However, on a year to date basis foreign investors re net seller. The table below shows the trade statistics. The values are in billions of South African Rand, month to date and year to date figure include purchases and sales until end of…

African Stock Market January 2016: Tunisia equity triumph, rewards investors amid of global equity markets panic

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LAGOS, Nigeria, Capital Markets in Africa — Global equity markets opened 2016 on a panic mood amid of negative outlook on China’s growth prospects and commodity slumps. As a result, African equity market performance measured by country equity benchmark index returns ended in negative for the month, with four gainers and fourteen losers on the local currency basis. Still on local basis return, the January’s average return of -3.0 percent (relatively to -0.9 percent in…

African Sovereign Eurobond January 2016: Ghana’s spreads widening, Nigeria’s narrowing …

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LAGOS, Nigeria, Capital Markets in Africa — Volatility and unexpected economic events shook markets at the beginning of 2016, questioning fundamentals of emerging markets. Generally, African Eurobond outlook is likely to worsen in 2016, due to commodity price slump, reduce revenue and pressure on currency. These forces will compel African governments to tap into international markets, so increase supply against limited liquidity may, hence means issuers will likely need to offer sizable new issuance premia…

South Africa’s Reserve Bank hikes repo rate by 50 basis points

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Johannesburg, South Africa, Capital Markets in Africa —- The South Africa Reserve Bank’s Monetary Policy Committee (MPC) raised the repo rate to 6.75% from 6.25%. This takes the cumulative increases to 1.75 percentage points since the MPC started tightening policy in January 2014. Governor Lesetja Kganyago stated that, although the impact of the weaker exchange rate on inflation had remained muted in recent years, renewed rand weakness and the likelihood of higher food inflation had…

Africa Equity Weekly | 22 Jan 2016: Relief for Nigeria and South Africa Investors but not Kenya’s …

Posted on by The Editorial Team

Lagos, Nigeria, Capital Markets in Africa — As the week ending 22nd January 2016 came to a close, the African equity markets continued in the red district. Out of the eighteen African equity indices four ended in positive district and thirteen in the negative region (Illiquid Swaziland All Share index remained unchanged to end at 327.5 points) compared to the previous week ending Friday 15th January 2016. The overall average return of the eighteen stock…

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