African stock market |

Egypt stocks up on strategic commodities ahead of devaluation

CAIRO (Capital Markets in Africa) – Egypt said it plans to build a six month reserve of essential food items, adding to other recent purchases of commodities such as oil and wheat, in what traders said was a move to build up stocks ahead of a currency devaluation. Prime Minister Sherif Ismail said late on Tuesday the country would look to import 500,000 tonnes of rice and 400,000 tonnes of sugar to boost reserves and keep…

Emerging Stocks Rise Sixth Day on Mounting Stimulus Speculation

Posted on by The Editorial Team

LAGOS, Nigeria, Capital Markets in Africa: Emerging-market stocks headed for their longest winning streak since April and currencies rose to the strongest against the dollar in almost a year as optimism over prospects for stimulus in major economies boosted demand for riskier assets. Energy stocks led the MSCI Emerging Markets Index to a sixth consecutive gain as oil prices climbed. Turkey’s equity benchmark increased to the highest in two months. A gauge of mainland Chinese companies traded in Hong…

Kenya’s Benchmark Stock Index Poised for Gains on Golden Cross

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NAIROBI, Kenya, Capital Market in Africa — Kenya’s benchmark equity index is set to extend gains as falling yields on government debt prompt investors to seek better returns in stocks. The 50-day moving average for the Nairobi Security Exchange All Share Index climbed above the 200-day moving average this week for the first time since 2012, a so-called golden cross that signals to some traders that further gains are in store. Yields on government 164-day paper have…

Ghana’s Largest IPO at Risk as Government Drags Its Feet

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ACCRA, Ghana, Capital Markets in Africa — The largest initial public offering in Ghana’s history is at risk of falling apart after Agricultural Development Bank Ltd. missed a deadline to submit results of the sale to the nation’s regulator. The lender is waiting for its owners — the Bank of Ghana and the Ministry of Finance — to sign off on the outcome of the IPO, Solomon Atefoe, a spokesman for the Accra-based bank, said Friday in a…

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…

African Stock Market January 2016: Tunisia equity triumph, rewards investors amid of global equity markets panic

Posted on by The Editorial Team

LAGOS, Nigeria, Capital Markets in Africa — Global equity markets opened 2016 on a panic mood amid of negative outlook on China’s growth prospects and commodity slumps. As a result, African equity market performance measured by country equity benchmark index returns ended in negative for the month, with four gainers and fourteen losers on the local currency basis. Still on local basis return, the January’s average return of -3.0 percent (relatively to -0.9 percent in…

African Equity Markets in 2015: BRVM Bourse 2015 Champion, Botswana runner-up, Zimbabwe worst market

Posted on by The Editorial Team

Lagos, Nigeria Capital Markets in Africa — African stock market performance measured by country equity benchmark index returns produced a negative returns in 2015, with four positive growths and fourteen negative returns on a local currency basis. The performance was more disheartening on a US-dollar adjusted performance basis, with just one equity market produced a positive return. These unimpressed performances (compared to 2014) across African equities can be attributed to interlocked negative feedback loops between declining commodity…

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