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South African stocks advance with boost from Naspers and miners
November 13, 2020--Emerging-market stocks and currencies were poised for a second week of gains amid optimism over a vaccine breakthrough and bets for more internationalist policies by the new US administration.
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Source: news24.com
Nigerian Stocks Surge Most Since 2015, Trigger Circuit Breaker
November 12, 2020--Nigerian stocks surged the most in more than five years on Thursday and triggered a market-wide circuit breaker for the first time as traders bought up shares in a hunt for assets with attractive yields.
The Nigerian Stock Exchange All Share Index jumped by 6.2%, its steepest increase since April 2015. As the gains in the benchmark index raced beyond 5%, an automatic 30-minute trading halt was activated for the first time since its introduction in 2016, the exchange said in a statement.
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Source: bloombergquint.com
Kenya: Foreigners Pull U.S.$11 Million From NSE Counters Over Covid-19 Jitters
November 9, 2020--Foreign investors on Nairobi Securities Exchange (NSE) turned net sellers in October, withdrawing Ksh1.13 billion ($11.3 million) on increased risk aversion due to a surge in Covid-19 infections and deaths, halting two months of net buying.
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Source: allafrica.com
Rand skyrockets on strong early results from Covid-19 vaccine trials
Rand rallies as Trump bemoans 'stolen' US election view more
Nigeria: Report-Unfavorable Economic Climate, Access to Credit Constraining Businesses view the Central Bank of Nigeria (CBN)Business Expectations Survey Report for October 2020
Nigeria Records $1.4bn Trade Deficit in August
Rand weakens as market anxiously waits for a clear winner
Nigeria at 60
South Africa: SA's Economy to Contract By 7.8 Percent This Year
"GDP growth is expected to rebound to 3.3 % in 2021, and to average 2.1 % over the medium term. Based on this projection, the economy will only recover to 2019 levels in 2024. view more
November 9, 2020--Pfizer said that early results from its coronavirus vaccine trial had suggested the vaccine could be as much as 90% effective, the New York Times reported.
Source: news24.com
November 7, 2020--The rand has been on the front foot as the tightly-contested race for the White House leans in Democrat Joe Biden's favour.
Source: news24.com
November 5, 2020--The Central Bank of Nigeria's (CBN) October 2020 Business Expectations Survey Report has once more identified insufficient power supply, financial challenges, high interest rate and competition as some of the factors constraining businesses in the country.
The report posted on the central bank's website also identified unfavourable economic climate, unclear economic laws, unfavourable political climate, insufficient demand, access to credit and lack of equipment as other factors hampering business activities in the country.
Source: allafrica.com
November 4, 2020--Nigeria recorded $1.4 billion trade deficit in August 2020 even as the value of external trade increased by 12 per cent to $5.8 billion from $5.1 billion in July.
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Source: allafrica.com
November 4, 2020--Analyst says the US election is currently the main driver of the market and with all the volatility going on in the market, anything is possible.
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Source: news24.com
October 29, 2020--Nigeria gained independence from Britain 60 years ago. With civil unrest, security and economic problems dominating events in 2020, find out why the future of Africa's most populous country is in the hands of the young, and whether it can ever be unified.
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Source: FT.com
October 28, 2020--As a result of the devastating impact of the Coronavirus pandemic, South Africa's economy is expected to contract by 7.8 % this year in real terms.
The National Treasury said this in its Medium-Term Budget Policy Statement on Wednesday.
This comes after COVID-19 and the measures taken to protect public health resulted in steep declines in consumption, investment and exports.
Source: allafrica.com