Friday, March 12, 2010

Market Intelligence - Equities

African stock markets continue to show mixed performance. The equity markets in South Africa and Kenya recorded gains of up to 4.3% over the week. The markets in Egypt and Côte d'Ivoire closed the week marginally higher (up to +1%), while those in Tunisia, Nigeria, Mauritius and Morocco fell (up to -1%).

Equity Focus

Kenya: The All Share Index rose by 2.1% over the week, registering a second weekly gain. The rallies came after the country’s leaders (Kenya’s President and Prime Minister) in a coalition government agreed on February 17, 2010 to meet face-to-face to end political uncertainty. Elsewhere, the Nairobi Stock Exchange (NSE) is expected increase the share capital to 1 billion Shilling (USD 12.5 million) from the current 200 million Shilling (USD 2.5 million).

South Africa: The South African stock market recoded a weekly gain of 4.3%, partly driven by higher commodity prices.