The Markets | - Part 199

South Africa’s Imperial buys stake in Kenyan pharmaceutical distributor

JOHANNESBURG (Capital Markets in Africa) – South African logistics group Imperial Holdings will buy a 70 percent stake in Kenyan pharmaceutical distributor Surgipharm for $35 million in line with its African growth strategy, the company said on Wednesday. Surgipharm, which is headquartered in Nairobi, is a leading distributor of pharmaceutical, medical, surgical and allied supplies in Kenya, with an annual turnover of about $70 million, the company said in a statement. It gave no further…

South Africa’s trade balance recorded a further surplus of R12.04 billion

Posted on by The Editorial Team

JOHANNESBURG (Capital Markets in Africa) – In December 2016, South Africa’s trade balance recorded a further surplus of R12.04 billion. This compares with a trade deficit of –R1.7 billion in November 2016. The market was expecting a trade surplus of around R6.3 billion for the month, although the trade data is extremely difficult to forecast accurately on a month-by-month basis, especially since the data is not seasonally adjusted and prone to revisions. South Africa has…

Nigerian Equities Sink Further as Large-Cap FMCGs Extend Losses

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – The All Share Index (ASI) of the Nigerian Bourse closed negative today, losing 84bps to close at 25,032.17 points, as the bearish run in large-cap FMCGs continued unabated. Consequently, investors lost N73.5bn as market capitalization declined to N8.6tn, while MTD and YTD loss of the benchmark index worsened to 3.9% and 6.9% respectively. Today’s performance was dragged by sustained sell-pressure on NIGERIAN BREWERIES (-5.0%), in addition to losses in NESTLE (-3.9%) and ZENITH(-3.8%). However,…

Nigerian Equities Kickstart the Week Lower as FMCGs Flounder… NSE ASI down 38bps

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – The equities market closed lower at the end of trade today as the All Share Index (ASI) fell 38 bps to close at 25,244.65 points. Today’s weak performance is attributable to losses in NIGERIAN BREWERIES (-5.0%), STANBIC (-4.5%) and ETI (-3.1%) which offset gains in market heavyweight – DANGCEM(+0.5%). As a result, market capitalisation declined by N33.0bn to settle at N8.7tn. Market activity also moderated as volume and value traded fell 29.7% and 46.6% to…

African market outlook for 2017: Opportunities and challenges

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – The global risk backdrop has been relatively supportive for emerging market (EM) FX and fixed income in early January 2017, as investors downplayed previous concerns about fiscal stimulus in the US under a Trump administration. This has underpinned the South African rand and local bonds and reinforced a receiving bias in swaps. However, there is a risk that upward pressure on UST yields and a bull USD cycle may…

Central Bank of Kenya to float 12-year infrastructure bond

Posted on by The Editorial Team

NAIROBI (Capital Markets in Africa) – Kenya has floated treasury bond worth US$288 million to fund infrastructure projects coming two weeks after it cancelled a similar bid, Central Bank of Kenya (CBK) has said. The 12-year infrastructure bond, which is up for sale for the next two weeks and will later be listed at the Nairobi Securities Exchange’s secondary market from February 28. “The Central Bank, acting as a fiscal agent for the Republic of…

Nigerian Equities Unable To Sustain Gains …NSE ASI Sheds 54bps

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – The local bourse was unable to sustain gains recorded in the previous trading session as a result of sell-offs in Consumer Goods stocks – NESTLE (-3.3%), NB (-1.0%) and PZ (-9.7%). Thus, the All Share Index slid 54bps to close at 25,322.30 points, bringing YTD loss to –5.8%. Investors, in turn, lost N10.9bn as market capitalization settled at N8.8tn. Activity level stayed mixed as volume traded declined 58.9% to 143.2m units while value traded increased…

« 1 … 197 198 199 200 201 … 260 »