Friday, July 9, 2010

Market Intelligence - Equities

With the exception of a few, African stock markets were pulled downward by continued European debt worries and weak global equity markets. The markets in Côte d'Ivoire, South Africa and Egypt are among the hardest-hit, registering losses of 3.1%, 3.5% and 4.4%, respectively. The stock markets in Tunisia, Ghana and Morocco also posted losses of between 0.1% and 1.9%. However, the Uganda market recorded a significant gain of 1.5%, while those of Kenya, Mauritius and Nigeria posted minor gains of between 0.3% and 0.7%.

Equity Focus

Egypt: The CASE 30 Index fell by 4.3% over the week as investors lost risk appetite due to uncertainty in global financial markets and signals of weaker global demand for goods, reflected by a decline in demand for crude oil.

Côte d'Ivoire: The BRVM Composite Index dropped by 3.1%, led by falls in stock prices of food manufacturing company (Nestle) and car seller (Cfao CFAC.CI). Click here for the Market Intelligence Table.