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Kenyan Stocks, World’s Worst This Year, Set to Fall Further

NAIROBI (Capital Markets in Africa) – Kenyan stock prices at more than three-year lows may have further to fall with domestic investors favoring bonds and foreign buyers waiting for lower valuations, the head of the bourse said. Shares on the Nairobi Securities Exchange have dropped 6.9 percent since Jan. 1, extending last year’s 8.5 percent decline, because of jitters among investors about elections scheduled for August. The yield on Kenya’s benchmark 10-year bond has fallen almost 200 basis points to…

Foreigners Dump S. African Stocks in Longest Streak for 5 Months

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JOHANNESBURG (Capital Markets in Africa) – Foreigners were net sellers of South African stocks for the first four days of this week, the longest sequence in almost five months, as they reduced holdings in companies including some of the country’s largest retailers. Retailers Shoprite Holdings Ltd., Mr. Price Group Ltd., and Woolworths Holdings Ltd. were among stocks most heavily sold by foreign investors, along with Richemont, Naspers Ltd. and MTN Group Ltd., figures from Johannesburg’s stock…

Nigerian Equity Market Sustains Uptrend and the All Share Index up 1.3%

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LAGOS (Capital Markets in Africa) – After depreciating on the first three trading days of the year, Nigerian equities sustained the uptrend observed last Friday as the All Share Index recorded a 1.3% appreciation at the close of trade today. Performance today was largely driven by a rebound in the prices of DANGCEM (+1.2%), UCAP (+9.6%), TOTAL (+0.3%) and GUARANTY (+4.9%). Consequently, market capitalization improved N113.1bn to settle at N9.2tn. Activity, however, waned as volume and value traded declined 0.6% and 7.4% to…

World’s Biggest Stock Surge After Fed Hike Isn’t Done Yet

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CAIRO (Capital Markets in Africa) – Egyptian stocks are shrugging off emerging-market losses to post the world’s biggest gains since the Federal Reserve raised interest rates. The rally may extend into 2017, according to EFG-Hermes Holding. The nation’s Nov. 3 decision to float its currency, effectively cutting its value by half, has unleashed the biggest inflows of foreign investment into the stock market since the 2011 Arab Spring. The pound’s weakness has kept the benchmark EGX 30 Index trading at a discount…

Egypt Market Watch | Dec 15 2016: Egyptian Stock ends in green zone

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Cairo (Capital Markets in Africa) – The Egyptian Exchange finished Thursday’s trading session on a higher note, backed by foreign investors’ purchases. The main index EGX30 edged up 8.9 points or 0.08% to 11,326.03 points. The small and mid-cap EGX70 inched up 0.24% to 451.71 points. The broader index EGX100 ended higher 0.14% to 1,064.36 points and the equal-weighted index increased 5.8 points or 0.32% to 1,819.8 points. Market capitalization added EGP 571.06 billion to…

Nigerian Equity Markets | 5 Dec 2016: Equities Close Flat despite Sustained Rally in Oil & Gas Stocks… NSE ASI up 1bp

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – The equities market closed flat today as a sustained rally in Oil & Gas stocks offset sell-offs in Industrial Goods and Banking equities. Consequently, the All Share Index gained a marginal 1bp to close at 25,743.03 points while market capitalisation added N758.6m to settle at N8.9tn; thus ensuring the rebound in equities which began last week after a prolonged period of intense sell pressure was sustained. The major buffers to…

Tanzania’s Vodacom files prospectus for share offering

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DAR ES SALAAM (Capital Markets in Africa) – Vodacom Tanzania, part of South Africa’s Vodacom Group, has filed a prospectus with Tanzania’s capital markets regulators for an initial public offering (IPO), the company’s managing director told Reuters on Monday. Tanzania’s biggest mobile phone operator filed its application for an IPO with the state-run Capital Markets and Securities Authority (CMSA) and Dar es Salaam stock exchange (DSE) on Friday, managing director Ian Ferrao said in a…

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