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The Egypt Market Watch | June 25th 2015: Egyptian stock equities show a slow recovery with several sectors still in the red

Cairo, Egypt (Capital Markets in Africa):- The Egyptian equity indices and market capitalisation recovery slowed today as a number of indices went back into the red deleting previous gains made during trading yesterday. The market capitalization ended at EGP 486.132 billion; losing EGP 0.756 billion relative to EGP 486.888 billion recorded at the previous day’s trading session. The benchmark index EGX30 lost by 0.6 percent to close at 8406.17 down 50 points to settle at 8,456.82 points (-5.8299…

Morocco Market Watch | June 25th 2015: Morocco equity markets remain bullish…MASI Index up by 0.07 percent

Posted on by The Editorial Team

Casablanca, Morocco (Capital Markets in Africa):- Morocco equity markets remain bullish today as a result, the Moroccan benchmark stock index (measured as MASI Free Float Index) was up by 0.07 percent to close at 9,588.99 points (with a year-to-date performance to -0.32 percent) Equally, Morocco’s most active share the MADEX Free Float index (MADEX) ended at 7,838.50 points up from 7,831.07 points (up by 0.09 percent compared to the previous day’s trading session). On the other…

Nigeria’s central bank adjusts FX rate to 196.95 per dollar

Posted on by The Editorial Team

Lagos (Capital Markets in Africa): – Nigeria’s central bank adjusted its exchange rate peg to 196.95 naira to the dollar from the 197 it set in February after the currency’s value was eroded by the fall in oil prices, data on its website showed on Thursday. The bank adjusted the rate at which it sold hard currency this week, dealers said, noting that the change was too small to be considered a revaluation for the naira,…

OPEC agrees to keep pumping as fears of a global oil glut persist

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Vienna, (Capital Markets in Africa) – Oil group OPEC agreed to stick by its policy of unconstrained output for another six months on Friday, setting aside warnings of a second lurch lower in prices as some members such as Iran look to ramp up exports. Concluding a meeting with no apparent dissent, Saudi Arabian Oil Minister Ali al-Naimi said the Organization of the Petroleum Exporting Countries had rolled over its current output ceiling, renewing support…

Standard Chartered will invest Millions to boost retail business says Group Head of Retail

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Nairobi (Capital Markets in Africa): – Standard Chartered will spend “hundreds of millions of dollars” in the years ahead to raise the share of income from its retail business 10 percentage points by 2020, its group head of retail clients said. Karen Fawcett said the lender, which focuses on Asia, Africa and the Middle East, would invest the money in areas such as technology to raise the share of retail business income from 30 percent now….

AfDB funds USD 70.5 million for Tanzania’s power sector reform and governance support programme

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Dar Es Salaam, Tanzania (Capital Markets in Africa):– Power sector reform and a governance support programme are central to the African Development’s actions to accompany Tanzania’s economic growth. It is in line with this, that the Permanent Secretary in the Ministry of Finance of the United Republic of Tanzania, Servacius Likwelile and the African Development Bank’s Vice-President, in charge of Agriculture, Water, Human Development, Governance and Natural Resources, Aly Abou-Sabaa signed a USD 70.5 million loan accord…

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

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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….

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