The Markets | - Part 238

Nigerian Q3 Earnings Season Review: Macroeconomic Challenges Weigh on Companies Scorecards

Lagos, Nigeria, Capital Markets in Africa — The year 2015 has been characterized by a cocktail of macroeconomic challenges which trailed the decline in crude oil prices, and the political and policy uncertainties that shaped the direction of the economy so far in 2015. This is reflected in the trend of key macroeconomic indicators such as the slowing economic growth (Real GDP growth slowed to a 10-year low of 2.4% in Q2:2015), the steadily rising…

Africa Equity Weekly | 06 Nov 2015: Ugandan Stocks push African Stock Markets into Negative region despite gains in six markets …

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Lagos, Nigeria, Capital Markets in Africa — The African equity markets ended in the red district at the end of Friday 06 November 2015, out of the eighteen African equity indices six ended in positive district and eleven in the negative region (Illiquid Swaziland All Share index remained unchanged to end at 312.38 points) compared to the previous week ending Friday 30 October 2015. The overall average return of the eighteen stock indices was -0.6 percent week-on-week…

Nigeria: Four Disquieting Subjects in the Market… Calls for Concerns?

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Lagos, Nigeria, Capital Markets in Nigeria — The Nigerian capital market and business community have been hit with a string of “bad news” in last few days, as unimpressive earnings releases – including the monumental loss reported by OANDO Plc – filtered into the market. The sequence of negative press was further amplified by regulatory sanctions on select listed and unlisted companies for alleged regulatory breaches. The actions and reactions that have trailed these events…

African Sovereign Eurobond October 2015 Review: Yield narrowing, Ghana and Namibia issue US$1b and US$750m resp. in Oct …

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Lagos, Nigeria, Capital Markets in Africa — The economic pressure on limited resources continued to have significant impact on African countries, as a result of downtrend in the commodity prices. So, most African countries are cash squeeze, forcing governments to reduce spending as debt rises and instigating central banks to implement aggressive monetary policy tightening to control inflation. The inability of government to meet its obligation has resulted to Students’ unrest in South Africa against increase in tuition fee…

African Stock Market October 2015 Performance: South African equity best performer for local and foreign investors in October, BRVM YTD leader …

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Lagos, Nigeria Capital Markets in Africa — African stock market performance measured by country equity benchmark index returns ended in negative for the month of October, with six gainers and twelve losers on the local currency basis. Still on local basis return, the October’s average return of -0.9 percent was recorded across eighteen African stock indices and October monthly returns range from -6.6 percent recorded by the Kenyan equity markets (measured by NSE All Share Index) to +7.4 percent registered by the South African…

African Development Bank issues 0.75% US$1 billion 2-year global benchmark due 3 November 2017

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On Tuesday, October 27, 2015, the African Development Bank (AfDB) successfully launched and priced a new 1 billion 2-year US dollar global benchmark due November 3, 2017. This is the AfDB’s second US dollar global benchmark of the year following a successful 5-year benchmark transaction executed in February, and its first 2-year global benchmark since 2009. The 2-year benchmark transaction was announced on Monday, October 26th at 1:30 p.m. London time with initial pricing thoughts in…

Moodys assigns provisional (P)Ba2 rating to Angola’s forthcoming US dollar-denominated bond offering

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Luanda, Angola, Capital Markets in Africa — Moody’s Investors Service has today assigned a provisional long-term (P)Ba2 rating to the forthcoming bond to be issued by the Government of Angola. The obligation is a senior unsecured bond issue and ranks pari passu with all current and future senior unsecured indebtedness of Angola. This rating is in line with Angola’s issuer rating of Ba2. This rating action concerns a new rating solicited by the issuer for…

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