African capital market

Nigeria Market Watch | May 19th 2015: Nigerian equities market reversed its 4-Day uptrend

Lagos, Nigeria (Capital Markets in Africa):- The Nigerian Equities market reversed its 4-Day uptrend as the market slipped 21bps to close at 34,706.93 points. Today’s decline was against the backdrop of losses sustained in NIGERIAN BREWERIES (-1.9%), DANGOTE CEMENT (-0.3%) and WAPCO (-2.1%). Similarly, market capitalization eased N25.3bn to close at N11.8tn. Nevertheless, market activity strengthened as volume and value traded appreciated 16.9% and 39.3% to close at 357.2m units and N4.1bn respectively. Mixed Sector Performance…

Egypt Market Watch | May 19th 2015: Egypt stocks surge as bliss continues on tax cessation

Posted on by The Editorial Team

Cairo, Egypt (Capital Markets in Africa):-Egyptian equity market continued yesterday positive momentum that was spurred by the government’s decision to suspend new capital gain tax implementation for two years. The market capitalisation rose by EGP 1.20 billion compared to yesterday’s gain of EGP 20.3 billion to close at EGP 502.475 billion. The benchmark index EGX30 commenced trading with strong gains that took it above the 9,000 mark. But, retreated to a gain of 0.9% to…

Nigeria’s foreign exchange reserves rise by 1 pct by May 15

Posted on by The Editorial Team

Lagos, Nigeria (Capital Markets in Africa):- Nigeria’s foreign exchange reserves rose marginally by 1.05 percent month-on-month to $29.80 billion by May 15 from $29.49 billion a month earlier, data from the central bank showed on Tuesday. The forex reserves of Africa’s biggest economy and top crude exporter have been on the decline since last year when the central bank used the reserves to support the ailing naira currency, which has depreciated by 7.5 percent so…

Zambia’s kwacha firms over 1 pct to month-high vs dollar

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Lusaka, Zambia (Capital Markets in Africa) – Zambia’s kwacha strengthened over one percent to 7.1500 per dollar at 1029 GMT, its firmest level since April 14, buoyed by the return of global demand for copper. Consumption of refined copper in China in the second half of 2015 is likely to rise, with growing demand in the world’s top consumer likely to support global prices. Zambia is Africa’s second-biggest producer of the industrial metal. Source: Reuters Africa…

Morocco Market Watch | May 18th 2015: Moroccan equity indices went up..

Posted on by The Editorial Team

Casablanca, Morocco (Capital Markets in Africa):- Morocco’s benchmark stock index (MASI Index) rose by 0.27 percent to close at 9,878.59 points (2.69 percent year-to-date performance) with total market capitalization at MAD 499.229 billion (against 498.269 billion in previous trading sessions) and market activities measured as total traded value was closed at MAD 87.498 million. Likewise, Moroccan most active share index (MADEX) closed at 8,083.47pts (advanced by 0.29 percent compared to previous trading day). In addition, FTSE…

Nigeria Market Watch | May 18th 2015:Nigerian Equities Market opens High

Posted on by The Editorial Team

Lagos, Nigeria (Capital Markets in Africa):- The Nigerian Bourse opened the week on a positive note, extending the uptrend observed in recent sessions to the fourth consecutive day. The Nigerian All Share Index added 99bps to berth at 34,781.5 points. The positive close was broadly driven by gains recorded in FORTE OIL (+9.1%), ZENITH (+2.7%) and GTBANK (+1.7%). Market Capitalization followed suit, improving by N120.2bn to close at N11.8tn. Market activity also strengthened as volume and…

Kenya Market Watch | May 18th 2015: Kenyan equities start on negative mood..

Posted on by The Editorial Team

Nairobi, Kenya (Capital Markets in Africa):- The Nairobi Securities Exchange (NSE20) index went down by 48.39 points to close at 4,932.32 and Nairobi All Share Index fell by 0.25 points to close at 167.48. Likewise, the market capitalization fell by 0.25 percent to close at KES 2,342.1 billion. The market breadth ended positive, with 14 gainers and 27 losers. On the one hand, the highest market gainer was Eveready surged 8.33 percent to close at KES 4.55…

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