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- African Thoughts Archive
African Thoughts: April 17, 2017
Nigeria:
It was another dull week on the activity front in Nigeria, which was further compounded by the Easter holidays, with total value traded amounting to $19.67m. There were a few crosses in select names over the course of the week, but nothing to write home about. The market closed in negative territory with the ASI falling -0.92% thanks to consumer stocks as the sector fell -1.58% while banking stocks closed -0.40% lower. Inflation for March slowed to 17.26% from 17.78% in February.
Kenya:
The market was finally able to spring to life on the last trading day of the week in Kenya thanks to a large cross in Safcom as a very impressive 76.3m shares changed hands in the telco with the name closing the week +5.09% higher on the back of foreign demand. Elsewhere, the market was dead quiet for the majority of the week with the odd cross here and there. Banking stocks had a rather rough time of it with EQBNK closing the week -5.71% lower while KNCB fell -2.27%. EABL managed to close +4.76% on low volume. It was a flat week in terms of market movement with the NSE 20 index closing -0.07% lower.
Zimbabwe:
It was another uninspiring week in Zimbabwe on the activity front with total value traded amounting to $1m. The market managed to close in positive territory with the Industrial Index gaining +0.60% thanks to Econet (+5.51%) and Delta (+0.29%). Delta released their Q4 and FY 2017 trading update on Thursday which saw revenues down -15% for the quarter and -10% for the year.
Mauritius:
The market continued full steam ahead with the Semdex gaining an impressive +1.63%, taking the YTD gain to +9.80% thanks to good performances in SBMH (+6.1%) and MCBG (+1.3%). Hoteliers also had a solid week with SUN (+1.7%), LUX (+1.3%) and NMH (+0.7%) all closing the week higher. It was an average week on the activity front with total value traded amounting to $6.03m. On the economic front, March tourist arrivals increased +1.4% to 110,271.
- Bermuda +1 441 278 7620
- South Africa +27 11 268 5833
