Equity | - Part 7

Centum of Kenya Profit Surges 25% on Equity Investment Gains

NAIROBI, Kenya, Capital Markets in Africa: Centum Investment Co., Kenya’s biggest publicly traded investor, said full-year profit grew 25 percent, driven by gains on the country’s stock market. Net income jumped to 9.95 billion shillings ($98.3 million) in the 12 months through March from 7.94 billion shillings a year earlier, the company said Wednesday in a statement published in the Nairobi-based Business Daily newspaper. Investment and other income increased to 24.2 billion shillings from 11.8…

Market Watch: Emerging Assets Rally Fourth Day Amid Bull Market in Commodities

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LAGOS, Nigeria, Capital Markets in Africa: Emerging-market stocks rose for a fourth day with currencies as a surge in commodities boosted the outlook for exporting nations along with signs U.S. interest-rate increases will be gradual. Philippine shares climbed to a one-year high, Korean equities jumped and a gauge of Chinese mainland companies traded in Hong Kong capped its longest winning streak since April 2015. The MSCI Emerging Markets Index was poised for the steepest gain in almost two…

Old Mutual Confident Most Investors Will Support CEO Pay Plans

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Johannesburg, South Africa, Capital Markets in Africa: Old Mutual Plc, the London-based insurer splitting its business into four units, said it’s confident most shareholders will support a plan to offer Chief Executive Officer Bruce Hemphill a bonus equal to 10 times his base pay for the break up. Company representatives spent three days in Cape Town and Johannesburg to canvass investors on the payout, meeting with more than 20 shareholders across South Africa and the U.K., Danuta Gray,…

Emerging Currencies Drop on Fed Rate Bets as Turkish Stocks Jump

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LAGOS, Nigeria, Capital Markets in Africa: Emerging-market currencies fell with stocks as mounting speculation the Federal Reserve is moving closer to raising interest rates undercut the appeal of riskier assets. Turkish equities and the lira rallied the most among peers as the deputy prime minister survived a cabinet reshuffle. The MSCI Emerging Markets Currency Index weakened 0.2 percent as currencies in Malaysia and South Korea led declines. Russia’s ruble headed for the longest losing streak since December,…

Nigerian Equity Markets | 23 May 2016: Market trends Southwards as MPC Meeting begins …NSE ASI down 42bps

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LAGOS, Nigeria, Capital Markets in Africa: The Nigerian Equities market opened in the red, for the first time in 5 weeks as profit taking thrived, following the impressive gains that were recorded in the previous week. As a result, the All Share Index slid 0.4% to settle at 27,015.97 points. In the same vein, market capitalisation reduced by N34.7bn to N9.3tn. The major drags to market performance today were ZENITH (-4.9%), ACCESS (-4.7%) and NIGERIAN…

Market Watch | Tech Stocks Lead Emerging Markets Higher, Hungary Bonds Advance

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LAGOS, Nigeria, Capital Markets in Africa: Technology companies led emerging-market stocks higher for a second day while declines in oil and metal prices dragged down energy shares. Brazil’s real and South Africa’s rand led currencies of commodity-producing nations lower while Hungarian bonds advanced after the country was raised to investment grade by Fitch Ratings. The Taiex index led advances as Apple Inc. vendors such as Taiwan Semiconductor Manufacturing Co. surged on reports production is gearing up on…

Cote D’Ivoire Equity Markets | 27 Oct 2015: Bullish mood continues, investors smile home with US$18 Million …

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Abidjan, Cote d’Ivoire, Capital Markets in Africa — BRVM (The Regional Stock Exchange of eight West Africa) closed its trading session this Tuesday higher than the previous day. BRVM 10 index rose from 305.78 to 305.95 points, a gain of 0.06 percent. BRVM Composite index gained 0.13 percent at 306.23 points against 305.82 points previously. The equity market capitalization grew by XOF 10.2 billion (about US$17.51million) to close at XOF 7,557 billion relative to the previous trading…

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