Overall sentiment on African equity markets was positive. Among the markets we cover, 12 of them advanced this week while 5 retreated. Zimbabwe led the pack as equities in Harare jumped 6.34%. Conversely, the BRVM was the laggard. Equities in Abidjan lost 1.46% over the 5-day period.
West Africa
BRVM – Bears were back on the Western Africa regional exchange pulling the benchmark index down during all five sessions of the week. Overall, the Composite Index retreated 1.46% and was back under the 140 points mark. Market activity rallied as XOF 562m (USD 1m) worth of shares changed hands every day on average. This is about 4 times the daily average turnover seen the week before. The market is now down 3.96% year-to-date and the total market capitalization stands at XOF 4,201bn (USD 7.5bn). CFAO Motors is the top performer this week. The stock of the vehicle distributor jumped 10.26% over the 5-day period and is now up 19.44% since the start of the year. The market heavyweight, Sonatel , closed the week at XOF 12,500, down 3.84% over the week. Shares in the telecom operator are down 7.41% year-to-date.
NGSE – Bulls helped break the seven-week losing streak in Lagos. The benchmark index of the Nigerian stock exchange rallied 2.17% WoW closing on Friday at 39,216.20. Stocks are now down 2.62% YTD. Activity remained strong this week as NGN 4.3bn (USD 11.22m) worth of shares was traded on average over the last five days. The total market capitalization stands at NGN 20.5tn (USD 54.0bn). The top performer this week is Stanbic IBTC . Shares in the banking group jumped 30% as management announced a 10.9% profit growth on Wednesday, along with dividend and bonus shares. The counter is now up 18.05% YTD. Dangote Cement , on the other hand, closed at NGN 225 (+2.27% WoW). The shares in the cement producer are down 8.13% YTD.
North Africa
BVC – Morrocan equities advanced this week. The MASI gained 0.30% in a week that saw MAD 170m (USD 18.9m) worth of shares change hands every day on average, lifted by a large operation on BCP’s shares on Friday. Total market capitalization stands at MAD 595bn (USD 65.8bn), up 1.88% YTD. Notable performers this week include Sothema . The shares in the pharmaceuticals company soared 10.17% as it announced a 4.54% net profit growth along with a dividend. The […]
