Thursday, March 18, 2010

Market Intelligence - Equities

Most African stock markets rallied over the week of 8-12 March. The stock markets in Kenya and Nigeria each recorded large gains of up to 8.3%, which the markets in Ivory Coast, Mauritius, Morocco, South Africa and Tunisia registered smaller gains of up to 2% over the week. The Egyptian stock market recorded a minor weekly loss of 0.2%.

Equity Focus:

Kenya: The All Share Index rose by 8.3% over the week, rising to a 16-month high as the stock prices of agricultural companies were boosted by heavy rains, thereby improving production outlook.

Nigeria: The All Share Index rebounded by 5.3%, led by the banking sector as lawmakers moved closer to passing a bill to establish an Asset Management Company to handle toxic debt.