Friday, March 26, 2010

Market Intelligence - Equities

For the week of 15-19 March, African stock markets saw mixed performance. The markets in Ivory Coast, Nigeria, South Africa and Tunisia recorded of gains up to 1.6%, while the markets in Egypt, Kenya, Mauritius and Morocco registered losses of up to 2.3% over the week.

Equity Focus

Egypt: The CASE 30 Index dropped by 2.3% over the week, affected by stock price falls in the telecommunications sector. In particular, Orascom Telecom fell to the lowest level since January 2010 on investor concern that a planned share issue would dilute the value of existing shares.

Nigeria: The stock market rallied for the second consecutive week, with the All Share Indiex rising by 1.6% over the week, boosted by gains in blue chips such as TotalNigeria and Clout Mills Nigeria.