African Equity Markets

South Africa Stock Volumes Plunge as Protesters Rally Nationwide

JOHANNESBURG (Capital Markets in Africa) – Tens of thousands of protesters marched in South Africa to demand that President Jacob Zuma resigns after he fired the finance minister and reshuffled the cabinet. Marchers chanting “Zuma must go” in Pretoria, the capital, walked to the Union Buildings, the official seat of government, while thousands of people faced riot police outside the chained gates of parliament in Cape Town, and rallied in Durban and Port Elizabeth. In Johannesburg, eNCA…

Nigerian Bourse Sustains Uptrend …NSE ASI up 1.1%

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – Nigerian equities sustained gains observed yesterday as the All Share Index further strengthened 1.1%, trimming YTD loss to 4.2%. The performance was largely driven by rebound in the prices of DANGCEM (+2.2%) and GUARANTY (+2.0%) as well as further appreciation in WAPCO (+5.0%) and 7UP(+9.4%). Consequently, market capitalization improved N98.1bn to settle at N8.9tn. Activity level also improved as volume and value traded increased 52.2% and 32.2% to 241.6m units and N1.5bn with a total…

South African markets fall sharply after S&P downgrade

Posted on by The Editorial Team

JOHANNESBURG (Capital Markets in Africa): South Africa’s rand, bonds and banking shares tumbled sharply on Tuesday after S&P Global Ratings cut the country’s credit rating to junk in response to President Jacob Zuma’s move to sack its respected finance minister. Zuma’s cabinet reshuffle has triggered public criticism from within the ruling African National Congress (ANC) and pressure is likely to mount on the president after the credit agency handed South Africa its first downgrade since…

South African Assets Tumble as Gloom Pervades Fiscal Outlook

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JOHANNESBURG (Capital Markets in Africa) – South African bank stocks tumbled and bonds plunged as the rand headed for its biggest weekly slide since 2015 after the firing of Finance Minister Pravin Gordhan raised concerns about the country’s fiscal path and its investment-grade credit rating. The rand dropped as much as 2.6 percent before paring the decline to trade 0.9 percent weaker at 13.3995 per dollar by 5:15 p.m. in Johannesburg, heading for a seven-week low. Benchmark…

Why Investors Should Consider A “Private Equity Approach” To Africa

Posted on by The Editorial Team

LAGOS (Capital Markets Investors are desperately searching for new opportunities in order to counter the challenging current low-interest rate environment. For those who have turned to “frontier markets”—and particularly Africa—there has been something of a roller-coaster ride. In 2000, as the world entered the new millennium with great optimism, Africa was viewed with suspicion. It was even branded “the hopeless continent” by The Economist. And yet, between 2002 and 2008, the African stock markets enjoyed…

Nigerian Breweries Buoys Market Performance…NSE ASI marginally up 1bp

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LAGOS (Capital Markets in Africa) – The Nigerian equities market closed flat as the All Share Index rose 1bp to settle at 25, 251.63 points, while YTD loss of the index was unchanged at -6.0%. The major drivers of the positive performance today were NIGERIAN BREWERIES (+4.3%), FBNH (+3.2%) and ACCESS(+2.5%) as market capitalisation rose N741.4m to N8.7tn. Activity level strengthened as volume and value traded rose 26.9% and 181.1% to 131.2m units and N2.8bn…

Nigerian Equities Start the Week Bullish … NSE ASI Up 34bps

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – The Nigerian bourse opened on a positive note for the first time in three (3) successive weeks. The All Share Index rose 34bps to close at 25,249.49 points whilst market capitalization increased N29.3bn to settle at N8.7tn. As a result, YTD loss trimmed to –6.0%. Market performance was broadly driven by bargain hunting in Consumer Goods bellwether NIGERIAN BREWERIES (+ 4.2%) which took a beating last week. Market activity,…

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