African Market Watch: Friday, 6th March 2015

African Market Watch: Friday, 6th March 2015

Kenya: The NSE 20 Index dropped 37.83pts to close at 5,373.22pts. The NASI Index gained 0.23pts to close at 172.51pts with total market capitalization at KES 2,408mn. Market activities measured by volume and value traded were recorded at 36,466,000 shares and KES 1,062.271mn.  The market sentiment was positive today, as the market breadth (advancer/decliners ratio) berthed at 1.7x with 25 advancers and 15 decliners. On the one hand, topping the price gainers list were Crown…

Read More

JSE delivered a strong performance in 2014

JSE delivered a strong performance in 2014

The Johanneburg Stock Exchange (JSE) delivered a strong performance in 2014, making it more difficult for competitors to take on the local stock exchange, rated the 19th largest in the world. The JSE, as it stands, continues to be a profitable organisation, and in 2014 earnings per share rose 25% to 742.4c. Group earnings before interest and tax increased 22% to R704m. An ordinary dividend of 400c per share and a special dividend of 80c…

Read More

African Market Watch: Thursday, 5th March 2015

African Market Watch: Thursday, 5th March 2015

Egypt: The Egyptian Stock Exchange (EGX) indices advanced collectively today as the benchmark index EGX30 added 1.21% or 115pts to close at 9575.98 points. However, the market capitalization has lost around EGP 1.1 billion ($143 million). Today, EGX indices rebounded on the return of the purchasing power, particularly the blue chip stocks, where the benchmark surpassed level of 9500 points. The EGX70, which measures small and mid-cap stocks, went up 0.90% to 566.52pts and the…

Read More

South Africa’s Standard Bank posts flat 2014 earnings

South Africa’s Standard Bank posts flat 2014 earnings

JOHANNESBURG (Reuters) – Standard Bank, Africa’s largest bank by assets, reported a 1 percent rise in full-year profits on Thursday, roughly in line with expectations, thanks to increases in lending, fees and trading. Stripping out its London-based division, in which Standard Bank is selling a controlling stake to China’s ICBC, headline earnings rose 20 percent. Standard Bank raised its dividend 12 percent to 598 cents per share. The lender said headline earnings per share (EPS)…

Read More

African Market Watch: Wed, 4th March 2015

African Market Watch: Wed, 4th March 2015

Egypt: The Egyptian Stock Exchange (EGX) indices retreated collectively on Wednesday, while the market capitalization added EGP 727mn amid buy spree by Local institutions and Arab retail investors. The benchmark index EGX30 inched down by 0.15% or 14.2pts to end at 9461.06 points. Likewise, the EGX70, which measures small and mid-cap stocks, went down 0.16% to 561.49pts and the broader index EGX100 lost 0.19% at 1122.37pts. Today’s turnover amounted to EGP 531mn, while traded volume reached…

Read More

South Africa’s Central Bank says interest rates to be unchanged in short term

PRETORIA (Reuters) – South Africa’s central bank will keep interest rates unchanged in the short term as it lowered its inflation outlook but will monitor European and U.S economic events closely, deputy governor Daniel Mminele said on Tuesday. “The more benign projected inflation path… gives the Bank some room to pause in its interest rate normalisation process,” Mminele told an annual gathering at the South African Reserve Bank.

Read More

South Africa’s rand still vulnerable after Fitch warning

JOHANNESBURG (Reuters) – South Africa’s rand recouped some of the previous day’s sharp losses on Wednesday, but remained on shaky ground after Fitch ratings agency warned of a possible credit downgrade this year.At 0714 GMT the local unit was trading at 11.7600 to the dollar, from Tuesday’s New York close at 11.7615. The local unit had fallen nearly 1 percent to 11.8175 on Tuesday, the softest it has been since Feb. 12 according to Thomson…

Read More
1 91 92 93 94 95