The Markets | - Part 151

Egypt’s EGX 30 Up Most Since Nov. as Investors Target Dividends

CAIRO (Capital Markets in Africa) – Egypt’s EGX 30 rises 1.2% to 14,953.17 in Cairo on Monday, the most since Nov. 28; Investors looking for income in the form of dividends, says Sherif Shebl, equities trader at Pharos Holding for Financial Investments in Cairo. 18 shares advance, nine drop and three are unchanged CIB up 3.2%, contributes most to index gain Biggest increase in almost a year Highest level since Nov. 2 NOTE: Lender is the biggest…

Tunisia SE Rises 0.8%; Banque Internationale Tunisie Leads Gains

Posted on by The Editorial Team

TUNIS (Capital Markets in Africa) – The Tunisia Stock Exchange Tunindex rose for the second day, climbing 0.8 percent, or 51.96 to 6,316.99. The index advanced to the highest level since Sept. 12. The MSCI Emerging Markets Europe, Middle East and Africa Index was little changed, down 0.16 percent. Banque Internationale Arabe de Tunisie contributed the most to the advance, rising 3.3 percent. Societe Immobiliere Tuniso Seoudienne increased 4.2 percent, the biggest gain. Societe Tunisienne de L’Air fell 4.8…

World’s Biggest Bond Losers Reward Investors Betting on Rebound

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – Money managers gunning for the best emerging-market bond returns this year may want to consider the biggest losers of 2016 and 2017. History suggests that the worst-performing sovereign debt over a 12- or 24-month horizon is often prone to a sharp reversal as prices revert back to fair value. Take for example Barbados and Turkey. They rebounded from posting some of the worst returns of 2013 to lead the…

Mauritius SEMDEX Rises 0.7% to 2,215.5; MCB Leads Advance

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PORT LOUIS (Capital Markets in Africa) – The Mauritius Stock Exchange Semdex Index rose 0.7 percent to 2,215.5. The move was the biggest since rising 1 percent on Dec. 18 and follows the previous session of less than one percent. The MSCI Emerging Markets Europe, Middle East and Africa Index advanced 0.3 percent. MCB Group Ltd. contributed the most to the advance, rising 0.7 percent. ENL Commercial Ltd. increased 3.9 percent, the biggest gain. Mauritian Eagle Insurance Co. Ltd….

Tunisia SE Rises 0.9% to 6,257.24; Poulina Group Leads Advance

Posted on by The Editorial Team

TUNIS (Capital Markets in Africa) – The Tunisia Stock Exchange Tunindex rose 0.9 percent to 6,257.24. The move was the biggest since rising 1.1 percent on Aug. 29 and follows the previous session’s decrease of 1.3 percent. The MSCI Emerging Markets Europe, Middle East and Africa Index was little changed, down 0.07 percent. Poulina Group contributed the most to the advance and had the biggest gain, increasing 5.3 percent. Servicom SA fell 3.2 percent, the biggest loss. The biggest movers also…

From Angola to Zimbabwe: Guide to Key Africa Markets in 2018

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – For bond investors, Africa was a happy hunting ground last year. Its local-currency and dollar securities easily outperformed those of emerging markets overall as investors piled into a continent offering high yields and starting to recover from the commodity bust of three years ago. But risks abound, among them policy tightening in advanced economies, local and global politics, weakening currencies and another fall in oil prices. And then there is…

Steinhoff Gains as Retailer Plans to Restate 2015 Results

Posted on by The Editorial Team

JOHANNESBURG (Capital Markets in Africa) – Shares of Steinhoff International Holdings NV rose after the South African retail giant said it will restate financial results going back as far as 2015 amid a probe into accounting irregularities. The stock jumped 27 percent to 5.90 rand by 9:56 a.m. in Johannesburg, the most on an intraday basis since Dec. 12. Shares in Steinhoff, whose retail empire includes France’s Conforama furniture chain and Poundland in the U.K., have slumped 87…

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