African stocks slowly rebounding as economic activity improves.



Southern Times Correspondent

African stocks appear to be rallying on a slow pace after weeks of encountering loses.

As of 3 July 2018, out of 16 selected stock markets listed below, six witnessed increases on their stock markets while seven encountered declines and three had no changes.

Among the movers were Egypt, Ghana, South Africa, Namibia, Mauritius and Zimbabwe. The shakers included Tanzania, Morocco, Nigeria, Kenya, Tunisia and Uganda. There were no changes in Rwanda and Malawi


         Stock Market         Index               %Change                 Date

    BSE DCI                     8,402.66             -0.01%                  29 Jun                     

    DSE ASI                     2,267.92              -0.65%                 03 Jul                      

    EGX 30                      16,421.32            +0.36%                03 Jul                      

    GSE-CI                      2,881.03              +0.06%                03 Jul                      

    JSE ASI                            57,488.76            +0.58%               03 Jul                        

    LuSE ASI                   5,455.83              -29                       03 Jul                      

    MASI                          11,685.29            -1.80%                 03 Jul                      

    MSE ASI                    30,736.95                   --                  03 Jul                      

    NGSE ASI                  37,605.12            -0.90%                 03 Jul                      

    NSE ASI                     169.80                 -1.68%                 03 Jul                      

    NSX OI                       1,287.51              +0.90%                03 Jul                      

    RSE ASI                     131.53                    --                      03 Jul                      

    SEMDEX                    2,087.53              +0.98%                03 Jul                      

    TUNINDEX                 8,065.46              -0.01%                 03 Jul                      

    USE ASI                     2,067.46              -0.58%                 03 Jul                      

    ZSE Ind.                     346.05                 +0.19%                03 Jul                      


On a country to country comparison, the South African JALSH-All Share decreased 0.45% to 57227 on Wednesday 4 July after witnessing a rise of 0.58% on 3 July. The JSE closed stronger on Tuesday following a smooth trading session. In terms of the company activities on the JSE there were increases from Steinhoff International which rose by 31.39% to close at R1.80 per share, Metair, Imperial Holdings and Adcock Ingram among others.

On the side of the currency, the rand strengthened 0.5% to trade at R13.75 against the dollar on 3 July, however analysts contemplate that it is unlikely for the rand to fall  below R13.65. Some market experts predict that the South African rand will trade at 14.23 by the end of this quarter.

The Namibian NSX Overall decreased by 0.02% to 1287 on Wednesday July 4 from 1288 in the previous trading session. However, a quarterly economic review report released by the central bank of Namibia indicated that activity in the domestic economy of the country improved somewhat during the first quarter of 2018, compared to the same quarter of 2017.

The report from the central bank stated that the improvement was largely registered in the sectors such as construction as well as transport and communication. Activity in the construction sector increased during the period under review, driven by higher construction works for both Government and the private sector.

Moreover, the activity in the transport and communication sector rose due to increased cargo volumes and real value addition in the telecommunication subsector. Wholesale and retail trade sector also registered a marginal increase in real turnover, after two years of decline. In addition, overall production in the mining sector continued to grow, driven by strong increases in diamond and uranium output.

The agriculture sector also registered an increase in marketing activity, as reflected in the high number of cattle marketed over the period under review. Similarly, the production index for the manufacturing sector increased during the same period. Declines were, however, observed in the tourism sector and the electricity subsector during the first quarter of 2018, compared to the corresponding quarter of 2017.

During the same period under review, the Namibia dollar appreciated against all major trading currencies during the first quarter of 2018, compared to the previous quarter. On a quarter-on-quarter basis, the Namibia dollar strengthened by 12.4 percent against the US dollar, 8.2 percent against the pound and by 8.5 percent against the euro, compared to the previous quarter. The appreciation of the Namibia dollar during the first quarter of 2018 was supported by positive political developments in South Africa and a more positive sentiment towards commodity producing emerging markets in general which led to renewed optimism in terms of political certainty and potential for. However, the Namibian dollar is anticipated to trade at 14.17 by the end of this quarter.

In Kenya the Nairobi 20 index   increased by 0.20% to 3280 on Tuesday July 3 from 3274 in the previous trading session. The USDKES decreased 0.15% to 100.5500 on Wednesday July 4 from 100.7000 in the previous trading session. Analysts forecasts the Kenyan shilling to trade at 101.11 by the end of this quarter.

The Zimbabwe Stock Exchange on 3 July experienced positive movements on the market the as all-share index closed at 103.07 from 102.87 a 0.19 % increase, the industrial index rose to 346.05 from 345.41 also a  0.19% increase and the mining index  rose from 161.28 to 161.80 which is 0.32% increase. Gains where witnessed in Seedco which gained $0.0823 to end at $2.1026, Delta added $0.0369 to trade at $1.8382 and TSL Limited went up by $0.0275 to $0.4275. PPC Limited added $0.0037 to end at $1.2037 while Afdis closed at $1.4525 following a $0.0025 gain.

On the other hand, Old Mutual Limited dropped $0.2928 to close at $4.5572, Padenga eased $0.0675 to trade at $0.5500 while Meikles shed $0.0302 to close at $0.3000. Simbisa slipped $0.0005 to end at $0.4690 while Zimre Property Investments inched down $0.0001 to close at $0.0190.

In Malawi, there was no change on the stock market on 3 July 2018. However, the monthly report released by the stock market revealed that the market was bullish in the month of May  2018 as it registered a positive return on index of 10.89% (10.89% in US$ terms) and an in increase both in total value traded and total volume traded.

The report stated that the  market transacted a total of 265,730,032 shares at a total consideration of MK10,613,139,506.15 (US$14,625,963.41) in 164 trades. In the previous month, April 2018, the market transacted a total of 80,903,126 shares at a total consideration of MK3,676,838,010.81 (US$5,066,924.40) in 152 trades. This reflects a 228.45% increase in terms of share volume and a 188.65% (188.66% in US Dollar terms) increase in share value.

Of the total shares traded, 13,080,000 Sunbird shares were traded as a special bargain. Daily average share trades exhibited similar trends where the market registered an average daily volume of 12,653,811 shares compared to 3,852,530 shares traded in April 2018. The average daily turnover for April 2018 was MK505,387,595.53 (US$696,474.45) compared to MK175,087,524.32 (US$241,282.11) in April 2018, reflecting an increase of 188.65% (188.66% in US dollar terms).

The report stated that the price gains registered by FMBCH, NBM, NITL, PCL, Standard, Sunbird, TNM and OML were the drivers resulting into an upward movement of the Malawi All Share Index, arising from an increase in both the Domestic Share Index (7.04%) and the Foreign Share Index (21.62%). Market capitalization increased in both kwacha and United States dollar terms from MK1,200,076.07 million (US$1,653.78 million) in April 2018 to MK1,330,787.07 million (US$1,833.91 million) in May 2018.

 In terms of currency changes, the USS/MWK increased by 0.41% to 716.4000 on Wednesday July 4 from 713.4400 in the previous trading session, according to Trading Economics experts, the Malawian kwacha is expected to trade at 720.62 by the end of this quarter.





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