The sentiment was positive on African equity markets this week. Among the 17 markets we cover, twelve advanced while four retreated, and one remained flat. The Namibian Exchange led the performance charts as equities in Windhoek jumped 4.21%. Conversely, the Dar Es Salaam Stock Exchange, last week’s top performer, was the laggard. Tanzanian equities dropped 6.35% this week, the most on the continent. West Africa
BRVM – Positive sentiment prevailed in Abidjan for the fourth week in a row. Overall, the Composite Index edged up another 0.56% WoW to close at 168.17. Market activity declined 30% as XOF 343m (USD 0.62m) worth of shares changed hands every day on average compared to XOF 490m the week before. The market is now up 15.68% year-to-date, and the total market capitalisation amounts XOF 5,061bn (USD 9.18bn). Sucrivoire SA is the top performer this week. Shares in the sugar producer jumped 15% and are up 137% YTD. The market heavyweight, Sonatel , closed at XOF 14,280 on Friday (+0.04% WoW). It is now up 5.78% since the start of the year.
NGX – Bears were back in Lagos this week. The NGX ASI, the benchmark index of the Nigerian exchange, declined 0.31% WoW closing on Friday at 38,547.08. Stocks are now down 4.28% YTD. Activity jumped 35.5% as NGN 2.4bn (USD 5.75m) worth of shares were traded on average over the week. The total market capitalisation stands at NGN 20.1tn (USD 48.8bn). Oando PLC is the top performer. Shares in the energy company soared 23.2% following the amicable settlement of the long-standing dispute between the Nigerian Securities and Exchange Commission and the management of Oando Plc. The counter is now up 32.16% YTD. The market heavyweight, Dangote Cement , edged up 0.04% to close at NGN 248.1 on Friday (+1.31% YTD).
BVC – Bullish sentiment prevailed in Casablanca this week. The MASI gained 1.29% over the period. As expected, market activity soared and got back to normal as MAD 92m (USD 10.3m) worth of shares changed hands every day on average compared to MAD 28m the week before. The total market capitalisation stands at MAD 633.2bn (USD 70.97bn), up 9.01% YTD. Marsa Maroc (Société d’Exploitation des Ports) is the second-best performer this week. Shares in the national port and terminal operator gained 6.5%. On Monday, the Moroccan Government announced it will sell a 35% strategic stake in Marsa Maroc to Tanger Med, […]
