Africa stock market |

In Topsy-Turvy Zimbabwe, Stocks to Fall on Confidence Return

HARARE (Capital Markets in Africa) – If investors want a sign that confidence is returning to Zimbabwe following the armed forces’ seizure of power from President Robert Mugabe on Wednesday morning, they should look for stocks to fall. In Zimbabwe’s dysfunctional market, the deeper the economy has sunk, the more equities have soared. The nation’s main gauge is up 322 percent in the past year in dollars, the best performance globally, even as a cash shortage choked businesses and…

Want to Know What Investors See for the Rand? Follow This Stock

Posted on by The Editorial Team

JOHANNESBURG (Capital Markets in Africa) – If you want to know what investors are thinking about prospects for South Africa’s rand as the ruling African National Congress’ leadership battle unfolds, look no further than Cie Financiere Richemont SA’s Johannesburg share price. The company has the highest correlation to movements in the rand among stocks in the FTSE/JSE Africa Top 40 Index of South Africa’s biggest listed companies, according to data compiled by Bloomberg. The correlation this month rose…

Africa Finance Corp plans maiden sukuk soon

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LAGOS (Capital Markets in Africa) – Africa Finance Corp (AFC), a pan-African multilateral institution based in Nigeria, is likely to make a debut U.S. dollar sukuk issue by early February, banking sources close to the deal said on Wednesday. If AFC makes a final decision to go ahead with the proposed debt sale over coming days, the sukuk will be issued in two or three weeks through a private sale, a banking source familiar with the…

Too Many Satellites Means Sky-High Margins Under Pressure

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LAGOS, Capital Markets in Africa: Satellite operators are launching more high-powered communications rigs into space, with two more set to join about two-dozen already in orbit by the end of the year, crowding the skies and threatening the industry’s fat profit margins. The new orbiters being launched at a cost of as much as $500 million each are forcing established operators to embark on costly upgrades of their fleets at a time when their business…

Emerging Assets Trim Weekly Rally After ECB Damps Stimulus Hopes

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LAGOS, Capital Markets in Africa: Emerging-market stocks and currencies trimmed the biggest weekly gain in a month after the European Central Bank refrained from pledging more stimulus and North Korea conducted its biggest-ever nuclear test. The won dropped and the Kospi index suffered its worst retreat for two months after North Korea’s fifth nuclear test. Malaysia’s ringgit and Russia’s ruble fell and stocks in Brazil were poised to open lower as Brent crude slid the most in more than a…

Devaluation Bets Send Egyptian Stocks Rising to August High

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CAIRO, Egypt, Capital Market in Africa — Egyptian stocks surged to an eight-month high on speculation that authorities will devalue the currency for the second time this year. Local investors fueled a fifth day of gains as a persistent dollar shortage forced the Egyptian pound to a record low in black market trading. The nation’s decision to weaken its currency by the most in 13 years last month has so far proved insufficient to attract foreign investment…

Morocco Equity Markets | 21 Mar 2016: Moroccan Stocks Climb to 7-Month High, Led by Lafarge

Posted on by The Editorial Team

Casablanca, Morocco, Capital Markets in Africa —Casablanca Stock Exchange witnessed positive return at the end of Monday’s equity trading session. The Moroccan benchmark stock index (measured as MASI Index) went up 1.21 percent to end at 9,409.94 points (with a year-to-date performance to 5.43 percent) with total market capitalization at MAD 471.621 billion (a fall of MAD 4.84 billion or US$28 million relative to previous market capitalization of MAD 466.778). The market activity measured as total…

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