Africa Stock Markets |

What Are Sin Stocks and Why Should We Care?

LAGOS (Capital Market in Africa) – Some online gambling companies, like Bet365 and Betway, the parent company of Betway Ghana, are privately owned, meaning that they never listed their stock on any stock exchange. Other major operators like William Hill, Paddy Power Betfair, and the Kindred Group (the owner of Unibet) as well as development and infrastructure providers like NetEnt, are public, with shares traded on stock exchanged ranging from London to Stockholm, and beyond….

Nigerian Bourse CEO Sees IPO Revival as Economy Improves in 2018

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LAGOS (Capital Markets in Africa) – The Nigerian Stock Exchange expects its first initial public offerings for at least two years as companies take advantage of an improving economy and stock market to raise funds, the chief executive of the bourse said. “A number of companies have indicated interest” in selling shares as sentiment picks up, Oscar Onyema, CEO of the Lagos-based exchange, told reporters Tuesday. He didn’t name any companies or give any further details….

The World’s Best Stocks May Gain Even More If Oil Holds Up

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LAGOS (Capital Markets in Africa) – The world-beating rally in Nigerian stocks may not be over yet. The main equity index in Africa’s biggest economy has surged 12 percent this year in dollar terms, the most among 96 major bourses tracked by Bloomberg, pushing it to the highest level since 2008. Dangote Cement Plc, controlled by Africa’s richest man, Aliko Dangote, and the largest company on the exchange, has climbed to a record high. The advance will probably be…

Nigeria SE Rises 1% to 38,372.61; FBN Leads Advance

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LAGOS (Capital Markets in Africa) – The Nigerian Stock Exchange Main-Board Index rose for the fifth day, climbing 1 percent, or 398.03 to 38,372.61. The move was the biggest since rising 1.8 percent on Nov. 24. The MSCI Emerging Markets Europe, Middle East and Africa Index declined 0.3 percent. FBN Holdings Plc contributed the most to the advance, rising 4.9 percent. Learn Africa Plc increased 8.2 percent, the biggest gain. Continental Reinsurance Plc fell 5 percent, the biggest loss….

Linde Eases Share Tender Requirements to Get Praxair Deal

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LAGOS (Capital Markets in Africa) – Linde AG, seeking to save a planned $41 billion tie up with Praxair Inc. to create the world’s biggest gases supplier, lowered the number of shares its investors need to tender for the deal to go through, after struggling to reach a previous requirement before a looming deadline. The new minimum threshold of 60 percent has to be reached by Nov. 7, the Munich-based company said in a statement on Monday. The previously-agreed condition was…

Zimbabwe stock market hits new highs as currency, cash problems worsen

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HARARE (Capital Markets in Africa) – Zimbabwe’s stock market hit a record high on Monday, propelled by local investors seeking a safe haven in an economy suffering acute shortages of foreign exchange. The Zimbabwe Stock Exchange’s (ZSE) main industrial index touched 301.03 points, the highest since it was rebased in 2009 when Zimbabwe dumped its hyperinflation-hit currency in favor of the US dollar. Market capitalization reached $8.5 billion. It has more than doubled since January…

Emerging-Market Bulls Are Cooling Off After Impressive Rally

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LAGOS (Capital Markets in Africa)- After a surprisingly good run in emerging markets that sent equities to a fifth monthly gain, some bulls are easing up. Credit Suisse Group AG forecasts developing-nation equities will underperform in the short term, while Deutsche Bank Wealth Management said it’s not as positive on emerging-market bonds as a year ago. Goldman Sachs Group Inc.said strong returns have partially eroded a previously compelling valuation signal, and BNP Paribas SA said the best gains in…

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