African Stock Exchanges

Lagos, Nigeria (Capital Markets in Africa) — The index remained bearish today as recent results failed to lift the pessimistic mood even as economic uncertainties weighed deeper(ASI -0.40%). Consumer names were the biggest drag, PZ(-3.33%), Flourmill(-2.98%) and NB(-1.56%) all dropped on increased selling pressure, NB particularly closed below a two-and-a-half year low at N126.99. Financials ended somewhat mixed albeit the overall sentiment was still bearish, Zenith(-1.24%) slipped lower in oversold territory as offer volumes continue…

Lagos, Nigeria (Capital Markets in Africa) — The equities market extended yesterday’s decline, as the benchmark index (ASI) slipped 0.2% to close at 31,216.72 points. Thus, YTD return depreciated to 9.9%. Also Market capitalization waned N18.2bn to berth at N10.7tn. Market performance for the day was mainly driven by price depreciations in banking and consumer goods stocks such as ZENITH (-0.5%), STANBIC (-2.1%) and UNILEVER (-2.1%).  Market activity was however mixed as volume traded eased…

Lagos, Nigeria (Capital Markets in Africa) — The Nigerian equities market retreated from 2 days of consecutive gains, as the All Share Index (ASI) shed 22bps to close at 31,267.25 points, driving YTD losses to 9.8%. Market Capitalization also declined N22.2bn to N10.6tn. The negative close of the market today is against the backdrop of extended sell-offs in Banking counters — ETI (-5.0%), UNITY BANK (-5.0%), FBN HOLDINGS (-3.6%), GUARANTY (-0.9%) and FCMB (6.3%). Market activity also softened (due to high base effect of yesterday) as volume…