Best and Worst Performing Markets in Africa


Thursday, August 04, 2016 03.38 PM / TheAnalyst

Investors continued to scramble for profits as a way of reducing exposure on the Nigerian bourse, following impressive rally of 16.69% in Q2'16, which puts H1 performance at +3.34% gain.

The YTD loss so far in the New Month of August stands at -3.33% after bearish performance of 5.36% loss recorded in July. The sustained volatility in the Nigerian economy, negative GDP growth coupled with high inflation of 16.48% could not be isolated from the unimpressive stocks performance in the recent weeks.

The micro-economic fundamentals remain bearish with growing headwinds- the recent hike in interest rate triggered the cautious trading from investors. In addition, the pressure of FX scarcity continues to depress economy due to contracted revenue streams in both public and private sectors of the economy. Quoted companies are declaring weak earnings and falling profit postures across board.

A cursory review of stock performance across African markets revealed Nigerian Stocks among the worst performing so far in the year to post 3.33% loss. South African index Resource 10 topped the performance table to post 24.08% gain, followed by Dar es Salaam Stock Exchange, Namibian Stock Exchange and Zimbabwe Stock Exchange, posting 20.48%, 19.72% and 18.83% gains respectively.

See The Full Performance Table Here

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