Outlook | - Part 2

Copper Mine Suspensions Threaten Zambia’s Growth and Fiscal Position

Lusaka, Zambia, Capital Markets in Africa — Glencore International AG (Baa2 negative) recently announced that it would suspend operations at its Mopani Copper Mine in Zambia (B1 negative) for 18 months. Glencore’s suspension follows a recent decision by China’s Luanshya Copper Mines plc to interrupt operations at its Baluba mine in Zambia. Reduced copper production is credit negative for Zambia because it will depress growth, export proceeds and royalties, further pressuring the sovereign’s increasingly precarious fiscal…

Egypt Equity Watch | 3rd Aug 2015: Egyptian equity markets indices all down today, market cap loses by EGP 3.79 mill..

Posted on by The Editorial Team

Egypt (Capital Markets in Africa):- Egyptian equity markets Benchmark Index EGX 30, EGX70, EGX100 and the EGX20 capped index were all down today as the markets floundered in the red and market capitalisation loses EGP 3.79 million in todays trading. The benchmark index EGX30 was down 70.77 points to close the day on 8087.54, a decrease of -0.87 percent from its previous close of 8158.31 points (with the resultant year-to-date performance of -9.40 percent and…

Morocco Equity Watch | 27th July 2015: Morocco equity markets tips back into the red, MASI down 4.63 points and MADEX down 4.19 points…

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Casablanca, Morocco (Capital Markets in Africa):- Morocco equity markets indices went back into the red today with the MASI index ending the session down and the MADEX also down as they were unable to sustain the gains made in previous days trading. Market capitalisation topped out at US$60,391 million. The Moroccan benchmark stock index (measured as MASI Index) lost 4.63 points decreasing by -0.05 percent to close at 9,687.43 down from its previous close of 9,692.06 recorded yesterday (taking the year-to-date performance to 0.70 percent). Equally, the Moroccan most active share…

Angolan Economy – An uphill struggle in 2015 says Chief Economist, Tiago Dionisio

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Tiago Dionisio, Chief Economist with Eaglestone Securities Lower oil prices hit 2014 GDP growth and fiscal accounts Angola is Sub-Saharan Africa’s second largest oil producer after Nigeria and its economy remains highly dependent on the oil sector. Official figures show that the oil sector accounted for nearly 37% of the country’s GDP, 98% of its total exports and more than two-thirds of government revenues in 2014. As a result, it is…

Egypt Equity Watch | 16th July 2015: Egyptian equity markets indices end week on a high, EGX30 up 140.92 bps, market cap tops EGP 486 mill…

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Cairo, Egypt (Capital Markets in Africa):- Egyptian equity markets Benchmark Index, EGX70, EGX100 and the EGX20 capped index ended the week on a high today with most of the Indices recording rises and market capitalisation topping EGP 486 Million. The benchmark index EGX30 closed on 8022.91 points up 140.92 points to end the day with an increase of 1.78 percent from its previous close of 7882.62 yesterday (with the resultant year-to-date performance of -10.12 percent and equal to 3,523 points in US$ terms). The EGX20 capped index was up 204.39 points, gaining by 2.59 percent to close at 8086.79…

Morocco Equity Watch | 7th July 2015: Morocco equity markets show mixed sentiment as MASI gains 22 points but MADEX down 0.58 points..

Posted on by The Editorial Team

Casablanca, Morocco (Capital Markets in Africa):- Morocco equity markets were mixed with the MASI index ending the session up and the MADEX down following on from the previous days trading. The Moroccan benchmark stock index (measured as MASI Index) gained 22 points increasing by 0.09 percent to close at 9,575.01 up from its previous close of 9,553 recorded yesterday (with a year-to-date performance to 0.47 percent). Conversely, the Moroccan most active share index (MADEX) closed at 7,832.93 a 0.58…

Egypt Equity Watch | 5th July 2015: Egyptian equity markets Benchmark Index dives 1.16% as market cap reaches EGP 496 billion

Posted on by The Editorial Team

Cairo, Egypt (Capital Markets in Africa):- Egyptian equity markets Benchmark Index dived 1.16 percent however market activity by Nationals pushed market capitalisation to EGP 496.131 billion arresting a weakening market through increased mid cap trading volumes. The benchmark index EGX30 dropped 1.16 percent to end the day at 8218.25 points (with the resultant year-to-date performance of -7.9351 percent). Likewise, EGX70, which measures small and mid-cap index, plunged -0.85 percent to settle at 438.51 points (-22.4466 percent year-to-date return). The broader index EGX100 slumped…

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