Equity Markets |

Nigeria Stock Market Consumer Goods Index Marginally Drives Index Higher, NSE ASI up 3bps

LAGOS (Capital Markets in Africa) – The Nigerian bourse opened the week slightly positive as bargain hunting in the Brewers drove the index to a close of 26,231.37 points, up 3bps. Although sustained sell-down pressure on NESTLE (-3.4%) remained a drag, renewed investor interest in NIGERIAN BREWERIES (+1.7%), GUINNESS(+2.2%) and OANDO (+3.9%) buoyed market performance as market capitalization added N2.7bn to close at N9.0tn. Similarly, activity level strengthened as volume and value traded improved 12.5% and 27.5% to 228.6m units and…

History Shows Best Equity Gains Come From Emerging Markets

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LAGOS (Capital Markets in Africa) – If you want world-beating returns from your equity investments year after year, avoiding emerging markets isn’t an option. The top 10 stock indexes that gave global investors the greatest returns in 2016 were all emerging or frontier markets, according to data compiled by Bloomberg. That’s not a fluke: over the past 20 years, nine out of 10 best-performing equity gauges have been in developing nations, the figures show. Investors often think of emerging…

Nigerian Equity Market Sustained Rally in Banking Sector buoys Market Performance

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LAGOS (Capital Markets in Africa) – It was a positive trading day for Nigerian equities market as the All Share Index (ASI) added 18bps to close at 26,373.83 points. Consequently, market capitalization improved by N16.5bn to settle at N9.1tn. Today’s positive performance was driven by further gains in Tier-1 lenders – ZENITH (+2.1%), ETI(+4.3%) and ACCESS (+2.9%). Market activity, however, remained mixed as volume traded improved by 17.1% to settle at 174.0m units while value traded fell 68.7% to settle at…

Sentiment Bearish as Nestle Drags Index Lower in Nigerian Equity Markets

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LAGOS (Capital Markets in Africa) – Sentiment was bearish today on the Nigerian Bourse as the All Share Index shed 0.2% to close at 26,330.39 points consequent on price declines in large cap stocks such as NESTLE (-2.4%), FORTE(-9.2%) and ETI (-3.0%). Accordingly, investors lost N19.1bn as market capitalization settled at N9.1tn. However, market activity was mixed as volume traded waned 9.2% to 179.3m units while value traded surged 42.4% to close at N1.5bn. Banking Sector Emerges Lone Gainer Performance…

Nigerian Equity Market Sustains Uptrend and the All Share Index up 1.3%

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LAGOS (Capital Markets in Africa) – After depreciating on the first three trading days of the year, Nigerian equities sustained the uptrend observed last Friday as the All Share Index recorded a 1.3% appreciation at the close of trade today. Performance today was largely driven by a rebound in the prices of DANGCEM (+1.2%), UCAP (+9.6%), TOTAL (+0.3%) and GUARANTY (+4.9%). Consequently, market capitalization improved N113.1bn to settle at N9.2tn. Activity, however, waned as volume and value traded declined 0.6% and 7.4% to…

South Africa’s rand rallies, stocks slide to 10-month low

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JOHANNESBURG (Capital Markets in Africa) – South Africa’s rand rallied to its firmest in nearly a month on Tuesday, brushing off a poor economic growth print as a weaker dollar and bets on improvement in commodity prices boosted appetite for emerging currencies. Stocks ended lower in a broad-based sell-off that sent the benchmark index to its lowest level in nearly 10 months as weaker metal prices pressured heavily weighted mining shares. By 1530 GMT the…

Ghana’s Regulator Orders Investor Refund in Biggest IPO

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ACCRA, Ghana, Capital Markets in Africa: Ghana’s securities regulator instructed the nation’s biggest agricultural lender to refund investors after it rejected bids in an initial public offering that closed in March. The Agricultural Development Bank Ltd. refused 435.1 million cedis ($112 million) of the 437.9 million cedis in bids it received, the West Africa nation’s Securities and Exchange Commission said in a statement sent Tuesday by text message. The lender informed the regulator of its intention to reopen…

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