Equity |

Foreign Holdings of Egypt Debt Reach $7.5 Billion, Official Says

CAIRO (Capital Markets in Africa) – Foreign investors are lapping up Egypt’s local-currency debt. Overseas holdings of Treasury bills rose by more than 10 percent in a week to 136 billion pounds ($7.5 billion) as of May 30, Samy Khallaf, head of the Finance Ministry’s public debt division, said on Wednesday. That compares with about 10.1 billion pounds at the end of December, central bank data show. Investors have been pouring money into Egyptian debt and…

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…

Kenya’s market regulator grants listing approval for first ETF

Posted on by The Editorial Team

NAIROBI (Capital Markets in Africa) – Kenya’s market regulator has allowed the listing of the country’s first-ever Exchange Traded Fund (ETF), which will track the price of gold, the regulator said on Friday. The Nairobi Securities Exchange has been investing in new infrastructure to include trading of new products like ETFs, to diversify from equities and bonds, its chief executive Geoffrey Odundo, told Reuters last November. The Capital Markets Authority (CMA) said in a statement…

Renewed Sell Pressure on NB Drags Nigerian Bourse… NSE ASI down 30bps

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – The All Share Index was unable to sustain yesterday’s positive performance as it fell 30bps to close at 25,055.29 points following renewed sell pressure on NIGERIAN BREWERIES (-3.8%). Consequently, YTD loss worsened to -6.8%, while market capitalisation declined by N25.9bn to settle at N8.7tn. Market activity also softened as volume and value traded dipped 10.8% and 14.6% to 144.4m units and N1.5bn respectively. Bears Retain Grip on FMCGs Despite the decline…

Egyptian Equity closes in the North Pole, EGX30 1.64% up

Posted on by The Editorial Team

CAIRO (Capital Markets in Africa)- The Egyptian Exchange (EGX) ended Thursday’s trading session in a rise, as the benchmark index EGX30 added 1.64% or 203.6 points and closed at the level of 12,651.97 points, after closing five consecutive sessions in red. EGX70 declined by 0.96% to 512 points, and similarly, the broader index EGX100 lost 0.88% to the level of 1,220.19 points. On the other hand, the equal-weighted index EGX50 rose 1.78%, closing at 1,957.58…

African capital markets Activity shows significant decline in 2016, says PwC

Posted on by The Editorial Team

JOHANNESBURG (Capital Markets in Africa) – 2016 marked a challenging year for African equity markets in the wake of lower economic growth and political upheaval around the globe, largely as a result of the US elections cycle and the Brexit vote. African equity capital markets (ECM) broke a streak of three successive years of growth, recording a decline in overall ECM activity of 28% from 2015 in the number of transactions and 33% from 2015…

Nigerian Equities Sink Further as Large-Cap FMCGs Extend Losses

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – The All Share Index (ASI) of the Nigerian Bourse closed negative today, losing 84bps to close at 25,032.17 points, as the bearish run in large-cap FMCGs continued unabated. Consequently, investors lost N73.5bn as market capitalization declined to N8.6tn, while MTD and YTD loss of the benchmark index worsened to 3.9% and 6.9% respectively. Today’s performance was dragged by sustained sell-pressure on NIGERIAN BREWERIES (-5.0%), in addition to losses in NESTLE (-3.9%) and ZENITH(-3.8%). However,…

1 2 3 … 24 »