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AllAfrica News: Stock Markets

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Nigeria:NSE's Indices Sustain Sliding Profile, Down By N234 Billion

Fri, 16 Mar 2018 14:55:52 GMT

[Guardian] Transactions on Nigerian Stock Exchange (NSE) closed on a negative note extending losses from the previous session, as virtually all the highly capitalised stocks depreciated in price, resulting in a further slide in market capitalisation by N234 billion.

Zimbabwe:Mnangagwa Pulls in U.S.$2,6 Billion Lithium Project

Wed, 14 Mar 2018 13:59:06 GMT

[The Herald] The allure of the new political administration has convinced Australian Stock Exchange (ASX)-listed Prospect Resources to commit to a lithium project near Harare, which is expected to generate over $2,6 billion in revenues in the next two decades.

South Africa:President Cyril Ramaphosa Meets Chief Executive Officers of State-Owned Companies

Wed, 14 Mar 2018 11:03:53 GMT

[Govt of SA] President Cyril Ramaphosa held brief discussions yesterday, Tuesday 13 March 2018, with Chief Executive Officers (CEOs) of a number of state-owned companies.

South Africa:First Global Bond EFT Lists On JSE

Wed, 14 Mar 2018 08:53:55 GMT

[CAJ News] Johannesburg -ASHBURTON World Government Bond Exchange Traded Fund (ETF) has listed on Johannesburg Stock Exchange (JSE), becoming the exchange's first global bond ETF.

Egypt:Bourse Gains EGP 8 Billion - All Indexes Up

Thu, 15 Mar 2018 13:58:54 GMT

[Egypt Online] The Egyptian Exchange (EGX) indexes posted collective gains at the close of Tuesday's 13/3/2018 trading, supported by foreign investors' purchases of leading stocks in the sector of banks, industry and financial services.

Nigeria:MTN Considers Exit of Slow Markets As Firm's Worth Hits U.S.$20.1 Billion

Wed, 14 Mar 2018 11:08:52 GMT

[Guardian] MTN Group Ltd. may exit markets that aren't self-funding as Chief Executive Officer, Rob Shuter, reviews the 22 countries in which it operates.AFRICA's largest mobile-phone company by sales will also look at opportunities for expansion, potentially resulting in "some shifts in the current portfolio," the carrier said in a statement.

East Africa:Foreign Investors Trickling Back Into EAC Stock Markets

Tue, 13 Mar 2018 10:37:23 GMT

[East African] Foreign investors are weighing their options about investing in East Africa's stock markets as the regional governments, faced with dwindling foreign direct investment flows, have started implementing programmes to attract foreign investors to certain sectors.

Tanzania:DSE All Shares Index Closes Higher After 20.91% Increase

Mon, 12 Mar 2018 14:17:01 GMT

[Citizen] Dar es Salaam -Dar es Salaam Stock Exchange all shares index (DSEI) closed last week green after gained by 20.91 per cent to 2,362.08 points higher than 2,341.17 points recorded a day before.

Nigeria:Investors Stake N39 Billion in Equities in Five Trading Days

Mon, 12 Mar 2018 11:27:14 GMT

[Guardian] Heavy transactions in the shares of some companies, especially Access Bank, and Capital Oil last week, lifted the volume of shares traded, as a turnover of 3.079 billion shares worth N39.990billion were recorded in 23,086 deals by investors on the floor of the Exchange.

Kenya:Kenyan Firms Among Top to Watch in Frontier Markets

Thu, 08 Mar 2018 12:07:35 GMT

[East African] Seven Kenyan firms have been listed among 100 companies in frontier markets that investors should watch keenly this year.

Africa:Tanzania Financial Markets Among the Best in Africa - Study

Thu, 08 Mar 2018 14:02:15 GMT

[Daily News] TANZANIA financial markets have been rated on 11 slots in Africa overall index after scoring 44 per cent, heading to sustainable and inclusive growth. The index report, the first of its kind to be issued by Barclays Africa Group, showed that the country has beaten Egypt, Morocco and Ivory Coast.

Nigeria:Minority Shareholders Accuse SEC of Shielding Oando From Probe

Tue, 06 Mar 2018 13:48:10 GMT

[This Day] Minority shareholders of Oando Plc under the aegis of the Proactive Shareholders Association of Nigeria (PROSAN) have petitioned the House Committee on Capital Market and other Institutions, accusing the Securities and Exchange Commission (SEC) of shielding Oando Plc from probe.

Nigeria:Much Ado About the Foreign Reserves

Tue, 06 Mar 2018 12:25:20 GMT

[Guardian] I have received a lot of questions about the Central Bank of Nigeria's (CBN) foreign reserves recently. The CBN has of course been touting the reserves growing from a low of about $24bn to the approximately $42bn it is now.

Nigeria:NSE All-Share Index Gains 1.49% As Bellwether Stocks Boost Market

Tue, 06 Mar 2018 10:14:39 GMT

[This Day] The Nigerian equities market opened the week on a positive note following gains recorded by Dangote Cement Plc and other bellwether stocks on Tuesday.

Rwanda:Local Bourse Indices Drop Marginally

Tue, 06 Mar 2018 09:31:48 GMT

[New Times] Both the Rwanda Share Index and All Share Index went down marginally by 0.08 and 0.01 points to close at 131.71 and 132.96 points, respectively, yesterday the Rwanda Stock Exchange (RSE) daily market report indicates. The drop was occasioned by a Rwf1 decline in the share price of Crystal Telecom counter, which closed at Rwf59 compared to Friday's share price of Rwf60.

East Africa:Ecobank's African Markets Website Goes Live

Tue, 06 Mar 2018 09:11:10 GMT

[CIO] Francophone West Africa leads in intra-regional trade with trade hotspots around Dakar, Abidjan, Cotonou and Lomé, according to analysis by Ecobank's research team in its new website, AfricaFICC.

East Africa:Conflict Over Payment Delays Project to Link Stockmarkets

Tue, 06 Mar 2018 05:53:19 GMT

[East African] The East African Community Secretariat has rejected arbitration over non-payment of $777,649 to the contractor of the regional capital markets infrastructure project that has failed to take off in time, raising its implementation costs by $1.8 million.

Kenya:Kenyan Listed Firms Beat the Odds to Record Growth

Tue, 06 Mar 2018 05:26:03 GMT

[East African] Kenya's capital markets overcame a turbulent year to record 11.5 per cent growth in market capitalisation for companies listed on the Nairobi Securities Exchange.

Nigeria:Reps Summon 31 Companies Over Import Fraud

Fri, 02 Mar 2018 14:29:42 GMT

[Daily Trust] A House of Representatives panel has commenced an investigation into alleged massive importation fraud by some companies.

Nigeria:MTN to List U.S.$5.2 Billion IPO On NSE in July

Fri, 02 Mar 2018 13:15:55 GMT

[Guardian] After years of procrastinating, telecoms giant, MTN, plans to list its Nigerian unit worth $5.23billion by July, in a debut initial public offering (IPO) on the Lagos bourse, and will raise fresh funds to reduce debt, according to pre-IPO presentation seen by Reuters.

Nigeria:Over 100 Companies Express Interest in Ibom Deep Sea Port

Fri, 02 Mar 2018 05:36:38 GMT

[Guardian] Uyo -The much-talked about Ibom Deep Sea Port in Akwa Ibom State would soon be realised, as more than 100 companies across the globe have reportedly indicated interest for the development of the Port.

Tanzania:Volatility Hits Telecoms After 17 Years of Growth

Thu, 01 Mar 2018 11:49:23 GMT

[Citizen] Dar es Salaam -Subscriptions of voice telecommunications are becoming volatile although the number of internet users is increasing.

Tanzania:DSE Share Indices Down On Wednesday

Thu, 01 Mar 2018 08:08:41 GMT

[Citizen] Dar es Salaam -The Dar es Salaam Stock Exchange (DSE) share indices closed down on Wednesday, markets data shows.

Nigeria:Profit Taking Takes Toll On NSE, Indices Down By N174 Billion

Fri, 02 Mar 2018 06:29:25 GMT

[Guardian] Profit taking by investors on the Nigerian Stock Exchange dragged market capitalisation down by N174billion, as major highly capitalised stocks depreciated at the end of yesterday's transactions.

Ethiopia:ECX Transacts Over 4 Billion Birr

Tue, 27 Feb 2018 11:41:12 GMT

[Addis Fortune] Coffee, once again, tops the Ethiopia Commodity Exchange (ECX) floor in value, surpassing sesame which led in volume until late January 2018.

Nigeria:MTN Targets U.S.$1 Billion From Nigeria, Ghana Listings

Mon, 26 Feb 2018 14:25:27 GMT

[Guardian] Telecommunications, giant, MTN plans to raise $1 billion through its proposed listing on the Nigeria and Ghana stock exchanges later in the year.Chief Executive Officer of the Ghana Stock Exchange (GSE), Kofi Yamoah, said MTN Ghana would officially introduce 35 per cent of its capital into the GSE by the end of first quarter (Q1) 2018.

Rwanda:Share Index Drops Marginally

Mon, 26 Feb 2018 07:18:40 GMT

[New Times] The benchmark for local index closed 132.13 points on Friday lower than 133.53 recorded on February 16. The All Share Index was also down at 133.02 compared to 133.21 points, according to the Rwanda Stock Exchange (RSE) market report. The decline can be attributable to drop in Bank of Kigali share price that closed at Rwf295, down from Rwf300 previously.

Nigeria:NSE's Corporate Governance Index to Aid Companies in Raising Funds - Oscar Onyema

Mon, 26 Feb 2018 11:11:25 GMT

[Vanguard] THE Nigerian Stock Exchange, NSE, said that the introduction of corporate governance index will aid companies rated 'successful' on corporate governance to easily raise capital either locally or internationally.

Zimbabwe:Stock Exchange Upgrades Fixed Income Market System

Mon, 26 Feb 2018 09:15:01 GMT

[The Herald] A new upgraded Debt Module system, which caters for various security types both Government and corporate, is set to go live today on the Zimbabwe Stock Exchange.

Zimbabwe:Mines Reel Under U.S.$31 Mining Debt

Mon, 26 Feb 2018 08:18:23 GMT

[Zimbabwe Independent] London Stock Exchange-listed ASA Resources Plc's key Zimbabwe units - Bindura Nickel Corporation Limited and Freda Rebecca Gold Mine Limited -- have applied to the High Court to have the businesses placed under provisional judicial management, citing a serious financial crisis that has seen its debts ballooning to over US$31,3 million.