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Nigeria: JP Morgan--a Wake-Up Call
September 28, 2015--As the frenzy over the decision by JP Morgan to phase out Nigeria from its Government Bond Index for Emerging Markets (GBI-EM) effective from October 30, 2015 begins to die down we draw attention to the need to adopt measures that would extricate Nigeria's economy from whims of foreign investors.
The GBI/EM index gives international credibility to economies for foreign investments. Nigeria was admitted in 2012 with JP Morgan suggesting then that the inclusion would translate into inflows of about USD1.5 billion. But by August the 2015 total investments were worth USD2.8 billion, indicating huge foreign investment interest in the Nigerian market.
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Source: allAfrica.com
Nigeria: High Rates Depress Investments in Govt Bonds
September 18, 2015--The pressures on Nigerian money market resonated in the bonds market yesterday as the Debt Management Office,
DMO, announced that it could sell only N45 billion out of the initial N70 billion worth of Naira-denominated bonds maturing in 2020 and 2034.
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Source:AllAfrica.com
Nigeria: The Cost of Dropping Off JP Morgan's Index
September 14, 2015--In the end, it would seem that the markets were not as sanguine (as was the Central Bank of Nigeria, CBN) about the implications for the economy of JPMorgan's decision, announced last week, to phase Nigerian bonds out of its emerging markets government bond (GBI-EM) index series over two month-end rebalancing periods.
This phasing out will commence by end-September, terminating on October 30, 2015. Initial reports on the markets' reactions speak of an increase in price volatility in both the domestic bonds.
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Source: AllAfricanews.com
Morocco drafts new rules to attract stock market investors
September 11, 2015--Morocco's government is considering allowing foreign companies to list on the Casablanca stock exchange and creating a second market dedicated to small and medium-sized businesses.
The foreign companies' shares could be listed in foreign currency or in Morocco's dirham, the government said after the cabinet agreed a draft law on Thursday at the weekly cabinet meeting.
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Source: Zawya.com
Nigeria: Investors' Lose N1.03 Billion in Eight Months to Falling Equities
September 2, 105--[Guardian] The equities on the Nigerian Stock Exchange (NSE) shed cumulative value of N1.02 trillion in the last eight months,
due to a largely bearish profile of trading during the period.
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Source: AllAfrica.com
Sappi, Sibanye lead JSE lower
August 7, 2015--The JSE has fallen for the second session in a row, led by companies such as pulp and paper
company Sappi, which was waylaid by poor earnings.
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Source: FIN24
Resources drag JSE down
August 6, 2015--Resources shares on the JSE took another beating,
slamming the brakes on the overall market performance.
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Source: FIN24
Rand edges higher, remains vulnerable
August 6, 2015--The rand has inched higher against the dollar, just off 14-year lows, as the market remains in
wait-and-see mode ahead of all-important US employment data.
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Source: FIN24
JSE treads water after surprise upturn
August 5, 2015--Major indices on the JSE have hardly moved, but interesting times lie may ahead after the market's
unexpectedly strong performance during the previous session.
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Source: FIN24
Rand breaks through R20/£
August 5, 2015--The rand has broken through the R20 to the pound level and
has tumbled to its lowest level in more than 13½ years.
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Source: FIN24
