Monday, May 10, 2010

Market Intelligence - Equities

African stock markets closed the week with a mixed performance. The stock markets in Uganda and Egypt registered substantial gains of up to 5.0%, while those in Tunisia, Ghana, Kenya and Mauritius recorded modest gains of up to 1.5%. On the other hand, the stock markets in Côte d'Ivoire, Nigeria and South Africa underwent substantial losses of up to 4.5% over the week.

Equity Focus

South Africa: South African shares declined by 1% over the week, tracking global stock markets which were affected after Standard & Poor's cut its credit ratings on Greece, Portugal and Spain.

Nigeria: The All Share Index decreased by 3.5% during the week as Nigerian banks reported lower than expected profits and Greece’s debt woes damped investor appetite for riskier assets.