Equity | - Part 5

South African equity funds fail to beat the benchmark over five years

JOHANNESBURG (Capital Markets in Africa) – South African equity markets once again lagged global markets over the past year. This underperformance can partly be attributed to the contraction of 1.2% in the country’s GDP in the first quarter of 2016, which was principally due to a significantly lower production in platinum group metals over the period. The sense of unease was further compounded when S&P Global Ratings warned that it may strip the country of…

Nigeria Capital Markets Update Week Ending Nov 04 2016

Posted on by The Editorial Team

Equities Market Review and Outlook Sentiments in the Nigerian equities market remained bearish during the week amid an influx of unimpressive Q3:2016 earnings releases as the All Share Index (ASI) slid 1.1% W-o-W while YTD loss worsened to -5.8%. Market capitalization contracted to N9.3tn as investors lost a total of N86.4bn. On Monday, the market halted its 3-day gaining streak, ending the month of October on a negative note, down 4.1% M-o-M. However, investors took…

Nigeria Equities Market Review and Outlook Week Ending 14th October

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – Mixed sentiments trailed the Nigerian equities market this week amid expectations for weak Q3:2016 earnings results. The All Share Index (ASI) gained marginally on 3 trading sessions while declining on 2. Thus, the ASI inched 9bps higher W-o-W. YTD loss pared to 2.7% while market capitalization improved by N8.9bn to settle at N9.6tn. Activity level also improved as average volume and value rose 24.4% and 45.5% to 232.5m units…

Equities Market Review and Outlook: Pulled back from 4 weeks of positive momentum

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – The Nigerian equities market pulled back from 4 weeks of positive momentum, depreciating 1.8% W-o-W. The All Share Index (ASI) trended southwards on 3 out of 4 trading sessions declining on Tuesday (-0.2%), Wednesday (-0.9%) and Friday (+0.7%) while gaining 8bps on Thursday. Market capitalization waned by N172.5bn to settle at N9.6tn. However, activity level was mixed during the week as average volume rose 7.0% W-o-W to settle at…

Kenya Beats Nigeria in Stock-Trading for the First Time

Posted on by The Editorial Team

NAIROBI (Capital Markets in Africa) – Investors put more money into Kenyan stocks than Nigeria’s for the first time on record in September. The value of shares traded on Nigeria’s exchange fell to $139 million, near the lowest since Bloomberg began compiling such data in 2009, as foreign investors shunned an economy battered by militant attacks on oil facilities and shortages of foreign-exchange. In Kenya, with an economy an eighth the size of Nigeria’s but…

Egypt Stocks Surge on Bets Devaluation Will Drive Growth Rebound

Posted on by The Editorial Team

CAIRO (Capital Markets in Africa) – Egyptian stocks advanced the most in more than two months as investors bet that policy makers may devalue the country’s currency as soon as this week, luring back foreign investors and giving a lift to an embattled economy. The EGX 30 Index gained 3.2 percent, the most among more than 90 indexes tracked by Bloomberg globally after Ghanaian equities, to close at 8,133.12. Financial stocks, such as Commercial International Bank Egypt, the country’s largest…

South Africa’s Rand Shows a Little Local Strife Can’t Derail Emerging Gains

Posted on by The Editorial Team

JOHANNESBURG, Capital Markets in Africa: For evidence that fundamentals hardly matter in today’s world of easy money, look no further than the rand. In a quarter marked by a political feud between South Africa’s president and his finance minister, stagnant growth and mounting concern that the country may lose its investment-level credit status, the rand returned 11 percent for investors selling the dollar to chase higher yields — more than twice as much as its next-best peer….

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