Monday, August 16, 2010

Market Intelligence - Equities

While global markets sustained an upward trend due to strong commodity prices and corporate earnings, African stock markets closed the week with mixed performance. Among the 10 stock markets under review, the Kenyan market posted the highest gains of 5.3%. The markets in Uganda, Mauritius and Egypt recorded moderate gains of between 1.4% and 2.2%. In contrast, the Ghana stock market registered a loss of 2.2%, while stock markets of Nigeria, South Africa and Morocco registered marginal losses of 0.36%, 0.26 and 0.18% respectively.

Equity Focus

Kenya: The Nairobi Stock Exchange's NSE 20 Share Index rose by 5.3% during the week as investors anticipated a favourable outcome after the referendum vote which would ease the political risk of investing in the country.

Ghana: The All Share Index fell by 2.2% over the week, mainly driven by a disappointing earnings report of Ecobank Transnational Incorporated (ETI), the bourse's biggest stock in terms of number of shares.

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