Nigeria Equity Markets

Bank Stocks in Lagos Jump Most Since 2016 as Optimism Returns

Posted on by The Editorial Team
Bank Stocks in Lagos Jump Most Since 2016 as Optimism Returns

LAGOS (Capital Markets in Africa) – An index of Nigerian banking stocks surged 5.8% Thursday, posting the biggest gain since May 2016; the move reflected some renewed optimism among investors and increased participation by foreigners, said Segun Oyenuga, a trader for Asset Resource Management Securities. Guaranty Trust Bank, the country’s largest by market value, climbed 9.5% in Lagos, the most since January 2016; Zenith Bank +7.2%, Unity +9.8%, Sterling +5.9%, FCMB +4.2%, UBA +2%; sector index…

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Nigeria SE Rises 2.8% to 44,062.47; Dangote Cement Leads Advance

Posted on by The Editorial Team
Nigeria SE Rises 2.8% to 44,062.47; Dangote Cement Leads Advance

LAGOS (Capital Markets in Africa) – The Nigerian Stock Exchange Main-Board Index rose for the second day, climbing 2.8 percent, or 1,186.24 to 44,062.47. The move was the biggest since rising 2.9 percent on Jan. 11. The MSCI Emerging Markets Europe, Middle East and Africa Index advanced 1.1 percent. Dangote Cement Plc contributed the most to the advance and had the biggest gain, increasing 9.4 percent. PZ Cussons Nigeria Plc fell 4.9 percent, the biggest loss. The biggest movers also included:…

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African Stock Market March 2016: Bull rules, Egyptian equities rewards local investors with 22.4% gains

Posted on by The Editorial Team
African Stock Market March 2016: Bull rules, Egyptian equities rewards local investors with 22.4% gains

LAGOS, Nigeria, Capital Markets in Africa — The Federal Reserve’s dovish stance on U.S. interest rates and a rebound in commodity prices fuelled an African-market rally in March, leading currencies to record monthly gains against the dollar. African equity market performance measured by country equity benchmark index returns ended in positive for the month, with eleven gainers and seven losers on the local currency basis. March’s average return of 2.3 percent was recorded across eighteen African…

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African Stock Market February 2016: BRVM Bourse & Kenya Stocks reward local and foreign investors

Posted on by The Editorial Team
African Stock Market February 2016: BRVM Bourse & Kenya Stocks reward local and foreign investors

LAGOS, Nigeria, Capital Markets in Africa —Stronger commodity prices helped most African stock markets to rebound in February. The rally has been sparked by a rebound in commodity prices with gold up 21 percent from its December low. Commodities are rallying amid more optimism over economic growth in China, while negative interest rates in countries like Japan and Switzerland are increasing the appeal of gold as a safe haven. Consequently, African equity market performance measured by country equity benchmark index returns…

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