The reopening of the Egyptian stock market continues to be delayed, the state-run news agency MENA has reported. Trading had been anticipated to resume on Tues however the exchange is now due to reopen on Sunday, 6 March, MENA said.
Tuesday, Feb 21st
Last update07:20:19 PM GMT
South Africa’s FTSE/JSE Africa All Share Index rose for a third straight day, advancing or 0.4 percent, 128.94 points to 29,697.98 at the close. Here is an update of the stocks and commodities in the South African markets.
Anooraq Resources Corp., the platinum-mining company is planning to double its production at its Bokoni mine in South Africa to 240,000 ounces a year by 2013. The stock added 2 cents, or 0.2 percent, to 8.52 rand.
With inflation declining further, interest rates on Treasury Bills are expected to drop in the last quarter of this year. Investors’ demand on the Ghana Stock Exchange (GSE) appears to be soaring high, culminating in the Accra Bourse hitting 22.23 percent.
There have been some mixed activities on the market, with gainers outweighing the laggards on Ghana's exciting capital market. For example, the market recorded four gainers as against a loser during the trading of October 5, 2010, boosting the rise in GSE All Share Index up, while volume of shares traded was 171,052.
Amstel Securities said that Zimbabwe Stock Exchange (ZSE) is the most under performing market in Africa due to the low returns that it delivers to investors, compared to other African markets. In an investment report, Amstel Securities said ZSE suffered a 7,5% drop and this compared unfavorably with other African markets such as Kenya and Uganda that have delivered returns of over 40%.
United Bank for Africa (UBA), certainly one of Africa’s main monetary services institutions, has successfully raised a total of N20 billion of Tier 2 capital within the first ever completed naira denominated instrument in Nigeria. The additional capital is to assist UBA further strengthen its cash base, improve cash adequacy ratio, expand distribution channels and infrastructure and additional grow risk assets with a view to enhancing its incomes.
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