African Stock Exchanges

Lagos, Nigeria (Capital Markets in Africa):- Investors’ sentiment on the Nigerian bourse remained weak today as equities slipped further into the negative territory. The All Share Index (ASI) trended south, closing 29bps weaker at 33,492.17 points, hence bringing cumulative losses in June to 2.4%. This followed extended selloffs recorded in Banking and Oil and Gas stocks — GUARANTY (-1.3%), FBN HOLDING (-1.7%), UBA (-2.4%), FORTE OIL (-0.8%) and OANDO (-1.2%). Similarly, market capitalization shed N33.5bn to…

Lagos, Nigeria (Capital Markets in Africa):- The Nigerian equity market continued exhibiting a sideways trading pattern as the market pulled back from last Friday’s strong close, shedding 22bps today to close at 33,590.48 points. This was against the backdrop of losses suffered by large caps across the Banking, Oil & Gas and Consumer Goods sectors — GUARANTY (-0.8%), ZENITH BANK (-0.9%), OANDO (-3.7%), NESTLE (-0.5%) and GUINNESS (-3.0%). Activity level however surged as aggregate volume and…

Lagos, Nigeria (Capital Markets in Africa):- The Nigerian All Share index closed the week positive, up 0.6% to close at 33,664.91pts. Market Capitalization also added N67.8bn berthing at N11.5tn. Today’s gain was consequent on appreciations in Banking and Oil & Gas counters — ZENITH BANK (+3.7%) and FORTE OIL (+3.8%) respectively. Market activities was mixed as volume traded softened 3.6% to close 198.4m units while value rose 14.2% to settle at N2.5bn. Divergent from yesterday’s performance,…