Of the 11 main indices in Africa, ex South Africa, eight recorded gains for the month of February and three declined. However, in US$-adjusted terms the picture was not as rosy, with several currencies – notably those of Nigeria, Zambia, Ghana and Mauritius – losing ground against the greenback, resulting in net dollar losses for investors.
Kenya’s NSE 20 continued its upward trend for 2015 with a 5.36% rise, boosting its year-to-date gain to 7.41%.
Namibia’s Overall Index gained 5.01% in February and by month’s end was up 6.87% for the year.
Tunisia’s TUNINDEX increased 4.26% for the month, lifting its gains to 6.92% for the year.
Morocco’s CFG 25 maintained its positive upward momentum with a 3.03% gain for the month, elevating its year-to-date increase to 10.04%, making it the best-performing index for the year so far.
Zimbabwe’s US$-denominated Industrials Index was 1.89% in the black on February 26 according to figures published by The Africa Weekly, and 3.21% up year to date.
Nigeria’s All Share Index gained 1.83% following its precipitous 14.7% plunge in January. However, the index was down more than 5% for the month in US$ terms. Meanwhile, presidential elections – due in mid-February – were again postponed, until the end of March.
Botswana’s Gaborone Index reversed a 0.4% January deficit with a 1.37% rise in February, putting it 0.97% in positive territory for the year.
Ghana’s GSE Composite Index edged up 0.18% in February having fallen 3.85% in January but its US$ decline was above 11% YTD.
Profit taking saw Egypt’s EGX 30 give back some of its January gains, sliding 5.17% in February, leaving it 4.56% in positive territory for the year so far.
The SEMDEX in Mauritius slipped 0.04% on top of a 2.62% decline in January.
Zambia’s Lusaka All Share was 0.36% in negative territory by February 26, according to figures published by The Africa Weekly, and 0.18% down for the year. In US$ terms, it was 8.31% in the red. Copyright. HedgeNews Africa – March 2015.