African capital market

Kenya Market Watch | May 26th 2015: Kenya equities extend bearish and lose KES 19bn

Nairobi, Kenya (Capital Markets in Africa):- The Nairobi Securities Exchange (NSE20) index continued in negative mood and shed off 5.17 point to 4,853.44 points and Nairobi All Share Index lost 1.34 points to close at 162.80. Likewise, the FTSE NSE 25 and FTSE NSE 15 indices went down by 0.13 points and 0.11 points to close the day at 218.49 and 218.01 points respectively. The market capitalization lost almost KES 19 billion (about 0.81 percent) to…

Egypt Market Watch |May 26th 2015: Egypt equities end in red and lose EGP 3.2bn

Posted on by The Editorial Team

Cairo, Egypt (Capital Markets in Africa):-Egyptian equity market closed in negative territory today. The market capitalization declined from EGP 506.089 billion to EGP 502.936 billion (that is lost over EGP 3.2 billion). The benchmark index EGX30 lost 0.83 percent or 75.44 points to end the day at 8,975.32 points (0.546 percent year-to-date performance). Likewise, the small and mid-cap index EGX70 went down by 0.23 percent to settle at 483.17 points (-14.55 percent year-to-date return). Also, the broader index EGX100 lost by…

South Africa’s Tongaat posts lower full-year earnings

Posted on by The Editorial Team

Johannesburg (Capital Markets in Africa): – South African sugar maker Tongaat Hulett posted a 16 percent drop in full-year earnings on Monday, weighed down by lower sugar output and prices. Tongaat said diluted headline earnings per share for the year to the end of March totalled 826.1 cents compared with 979 cents a year earlier. Headline earnings are the main profit gauge in South Africa and exclude certain one-off and non-trading items. Source: Reuters Africa Business…

South Africa’s rand slips as Fed remarks boost dollar

Posted on by The Editorial Team

Johannesburg (Capital Markets in Africa):- South Africa’s rand weakened on Monday along with fellow emerging markets’ (EM) currencies as the dollar rallied after the Federal Reserve signalled a rate hike by year-end. By 0700 GMT the rand slipped 0.32 percent to 11.9310 versus the dollar, which marched to a month-high after positive CPI data and strong indications by U.S. Federal Reserve chair Janet Yellen that the bank would raise rates in 2015. The news lifted…

Egyptian pound steady at official auction, weaker on black market

Posted on by The Editorial Team

Cairo (Capital Markets in Africa):– Egypt’s central bank kept the pound steady at 7.53 to the dollar at a foreign exchange auction on Sunday, while the currency weakened on the black market. The central bank has held the official exchange rate steady for more than three months since letting the pound weaken at the beginning of 2015. This weakening and other measures have helped reduce black market trading significantly. In Sunday’s auction, the bank said…

AfDB sees Africa’s GDP growth nearing pre-crisis levels

Posted on by The Editorial Team

Abidjan, Ivory Coast (Capital Markets in Africa) – African economies will grow 4.5 percent this year and 5 percent in 2016, approaching levels last seen before the 2007 global financial crisis, as economic prospects improve worldwide, the African Development Bank (AfDB) said. The AfDB estimates that Africa’s gross domestic product expanded by 3.9 percent in 2014 despite sharp falls in international commodity and oil prices, an Ebola epidemic and pockets of political instability and armed conflict….

Nigeria Market Watch | May 25th 2015: Nigerian equity market extends losses to 5th day

Posted on by The Editorial Team

Lagos, Nigeria (Capital Markets in Africa):- The Nigerian Bourse fell 0.4% at the close of market today and berthed at 34,151.81 points. The NSE ASI sustained decline largely due to the price depreciation in NESTLE (-1.3%), ZENITH (-1.1%) and UBN (-4.3%). Market capitalization also shed N40.9bn to close at N11.6tn. Market activity however improved as volume and value rose 9.1% and 33.1% to 220.5m units and N2.7bn respectively. WAPCO Drives Gains in Industrial Index The Industrial Index…

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