Forex | - Part 4

Emerging Currencies Climb as Mexican Central Bank Steadies Peso

LONDON (Capital Markets in Africa) – A gauge of emerging-market currencies rose the most in more than three months and stocks indexes jumped as the Federal Reserve signaled a gradual pace of interest rate increases. Mexico’s peso halted a three-day slump after central-bank intervention. Fed’s minutes of its December meeting released on Wednesday showed uncertainty over the impact of President-elect Donald Trump’s policies. Emerging market stocks rallied while gold extended gains to three days and copper rose…

Kenya Shilling Seen Weakening Further as Forex Reserves Drop

Posted on by The Editorial Team

NAIROBI (Capital Markets in Africa) – The Kenyan currency could weaken at a much faster pace this year, compared with 2016, as falling foreign-exchange reserves impede the central bank’s ability to intervene in support of the shilling. Kenya’s central bank, which has been selling dollars to boost the shilling, has stayed away from the market this year after frequent intervention throughout 2016 that kept the unit fairly stable, according to Faith Atiti, an economist at Commercial Bank…

South African stocks start 2017 positively, rand in the red

Posted on by The Editorial Team

JOHANNESBURG (Capital Markets in Africa) – South African stocks kicked off 2017 in positive territory as a platinum rally spurred producers of the precious metal, while dollar strength knocked the volatile rand into the red. The benchmark Top-40 index gained 0.8 percent on Tuesday, the first day of trade after the long New Year weekend, to reach 44,261.26. The benchmark All-share index ended the day 0.7 percent higher at 51,020.66. Platinum producers Lonmin and Northam were…

Nigeria Capital Markets Update Week Ending Nov 25 2016

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Equities Market Review and Outlook The All Share Index (ASI) closed in the red for the 6th consecutive week as the broader index depreciated on four of five trading days. The week started on a negative note as the NBS published its Q3:2016 GDP report on Monday, indicating a further contraction in domestic output in Nigeria. Meanwhile, an expectation of the outcome of the MPC meeting held from Monday to Tuesday kept market soft on…

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…

Ghana’s Largest IPO at Risk as Government Drags Its Feet

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ACCRA, Ghana, Capital Markets in Africa — The largest initial public offering in Ghana’s history is at risk of falling apart after Agricultural Development Bank Ltd. missed a deadline to submit results of the sale to the nation’s regulator. The lender is waiting for its owners — the Bank of Ghana and the Ministry of Finance — to sign off on the outcome of the IPO, Solomon Atefoe, a spokesman for the Accra-based bank, said Friday in a…

Ghana Equity Markets | 26 Oct 2015: Ghana equity starts in red, GSE All Share index marginally down, market cap drops US$2 Mill …

Posted on by The Editorial Team

Accra, Ghana, Capital Markets in Africa — The Ghana Stock Exchange equity trading opened the week in negative territory as indices and market capitalization down. The market capitalization declined by GHS 5.8 million (about US$1.5 million) to close at GHS 62,057 million relatively to a market capitalization of GHS 62,063 recorded at the previous trading session. The benchmark composite index marginally lost 1.60 points or 0.05 percent to close the day at 1,986.31 points, representing a year-to-date performance 0f…

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