Africa Equity Weekly | 09 Oct 2015: South African JSE All Share 4.59% up, Egyptian EGX30 2.48% higher, Nigeria All Share 1.38% down …

Lagos, Nigeria, Capital Markets in Africa — African equities market continued its bearish momentum in the second week of the fourth quarter, as a result of growth concerns and bearish commodity prices, which led to the 60bps and 80bps, slash in 2015 and 2016 sub-Saharan Africa annual growth forecasts by the IMF to 3.8 percent and 4.3 percent.

At the end of Friday 09 October, out the eighteen African equity indices there were thirteen downs, four ups and one remained unchanged (Zimbabwe Industrial index remained unchanged to end at 131.45 points) compared to the week ending 02 October 2015. With Namibian Overall Index, Johannesburg All Share Index, and Egyptian EGX 30 Index surging by 4.59 percent and 2.48 percent week-on-week (w-o-w) respectively. Also, BRVM Composite Index added 0.01 percent w-0-w.

On the laggards’ chart, Tanzania All Share, Malawi All Share Index and Uganda All Share Index shedding 3.13 percent (to end at 2,409.71 points), 3.01 percent (at 15,344.02 points) and 1.90 percent (to end at 1873.9 points) w-o-w respectively. Also, Rwandan All Share index (-0.46 percent at 134.06 points), Nigerian All Share Index (-1.38 percent at 3,0165.22 points) and Morocco All Share Index (-1.07 percent at 9,020.26 points).