Market Intelligence - Equities

Most African stock markets fared well during the week of 31st May – 4th June despite lingering turmoil in global financial markets. The stock markets in Côte d'Ivoire, Egypt, and Mauritius recorded substantial gains of 4.1%, 2.9% and 2.2% respectively. Morocco's stock market also recorded a moderate gain of 1.4%. Marginal gains of 0.5% each were recorded in Kenya, Tunisia and Uganda, and slightly higher in Nigeria at 0.7%. In contrast, the stock markets in South Africa and Ghana posted losses of 2.4% and 1.9%, respectively.

Equity Focus

Côte d'Ivoire: The BRVM Composite Index rose by 4.1% after a 0.6% fall in the previous week. Market gains during the referenced period were led by stocks in the financial sector, public services and agricultural sector.

South Africa: The All Share Index tumbled by 2.4% during the week, offsetting the gain in the previous week, following losses on the European and US markets due to a less than expected job recovery in the US. This outcome revived fears about slower global growth. Click here for the Market Intelligence Table