Market Intelligence - Equities

The week was characterized by price increases in African stock markets, which followed the rallies of global stock markets. The best-performing markets were South Africa and Egypt, which recorded price increases of 3.4% and 2.8% respectively. The stock markets of Mauritius and Nigeria also posted moderate gains of 1.3% and 1.7% respectively, while those of Ghana, Kenya, Tunisia and Uganda registered marginal gains of less than 1% each. In contrast, the stock markets of Côte d'Ivoire and Morocco registered losses of 0.1% and 1.9%, respectively.

Equity Focus

South Africa: The All Share Index rose by 3.4%, continuing its gains of the previous week. The bullish market was fuelled by better-than-expected local retail sales data, as well as improving sentiment about a global recovery.

Nigeria: After average losses of 2% for last four weeks, the NSE All Share Index gained 1.7% during the week, as investor confidence was gradually restored especially in the Banking subsector. The upward trend in the market is expected to continue for a while, driven by renewed investor interests to take advantage of low prices of equities. Click here for the Market Intelligence Table.