Africa Equity Weekly | 13 Nov 2015: Uganda, Kenya in the positive but Egypt, Nigeria, South Africa in the red zone …

Lagos, Nigeria, Capital Markets in Africa — It was a bearish mood this week for most equity markets as news flows from several markets dampened investors’ sentiments.  Equally, the impressive US October jobs report released last week which moved the US Fed closer to raising its benchmark interest rate during its next meeting in December further spurred sell-offs in equities.

The African equity markets ended in the red zone at the end of Friday 13 November 2015, out of the eighteen African equity indices five ended in positive district and ten in the negative region (Illiquid Swaziland All Share index and Malawian All-Share index remained unchanged to end at 312.38 points and 15122.06 points respectively) compared to the previous week ending Friday 06 November 2015. The overall average return of the eighteen stock indices was -1.32 percent week-on-week (w-o-w).

Ugandan All Share Index led the pack of gainers after adding 3.46 percent w-o-w to end the week at 1,779.86 points.  The Nairobi All Share index gained on 4 out of the 5 trading days of the week to trim year-to-date (YTD) loss to -7.6 percent.  Kenyan Nairobi All Share Index emerged at the second best performer after gained on 4 out of the 5 trading sessions of the week bringing the w-o-w return to +2.24 percent and reduced the year-to-date (YTD) loses to -12.0 percent. 

Moroccan All Share index and Rwandan All-Share Index occupied the third and fourth position by adding 0.96 percent w-o-w (+1.97 percent MTD, -4.2 percent YTD) and +0.21 percent w-o-w (-0.63 percent MTD, -2.3 percent YTD) respectively. While, the Botswana domestic composite index ended at 10,585.59 points after jumping by 0.05 percent to rank as the fifth on the gainers’ list.

Egyptian EGX 30 Index was the worst performer by losing 9.75 percent w-o-w to settle at 6,806.67 points and fell on in all the 5 trading days. Market capitalization decreased EGP 27.1 billion to close at EGP 425.236 billion for the week.  Namibia Overall Index ended at 935.81 points after dipping by 6.10 percent to occupy the second worse performer.

South Africa JSE All Share emerged at the third worst performer after sagged on 3 out of the 5 trading sessions of the week bringing the w-o-w return to -3.33 percent and decreased the year-to-date (YTD) to +2.9 percent and month-to-date (MTD) of-4.82 percent. Other major losing stock markets were Zimbabwean Industrial index (-3.31 percent w-o-w, -22.9 percent YTD), Tanzania Dar Es Salaam All Share Index (-3.06 percent w-o-w, -2.29 percent MTD, -7.1 percent YTD) and Tunisia All Share index (-2.47 percent w-o-w, -4.69 percent MTD, -4.3 percent YTD).

Nigerian All Share Index shed points on 3 out of 5 trading days this week, thus bringing w-o-w and YTD losses to 1.1 percent and 16.8 percent respectively. Market capitalization decreased NGN 112.4 billion to end at NGN 9.9 trillion for the week.