Friday, July 23, 2010

Market Intelligence - Equities

The performance of most African stock markets improved during the week, decoupling with global markets which mostly retreated due to renewed concerns about slow economic growth in the U.S. The stock markets in Nigeria, Mauritius, Kenya and Côte d'Ivoire recorded gains of between 1.4% and 1.6%, while marginal gains of less than 1% were recorded each in the markets of Egypt, Uganda, Morocco and South Africa over the week. On the other hand Ghana’s stock market posted a big loss of 5.6% while Tunisia’s market registered a marginal loss of 0.6% during the week.

Equity Focus

Kenya: The NSE 20 Index rose by 1.5% during the week, helped by Equity Bank, which the market expects to post solid half-year results. So far the NSE-20 has risen by nearly 35% this year, outperforming rival indexes such as the Nigeria NSE, which is up 20%, and the West Africa’s BRVMCI, which is up by 13.5%.

Ghana: The GSE All-Share Index fell by 5.6% over the week after investors took profits from stocks in banks, including Ecobank Ghana and Ghana Commercial Bank. Click here for the Market Intelligence Table.