Stockmarkets

News : Stockmarkets

The strong rally witnessed on the Zimbabwe Stock Exchange in the previous week immediately came under a check during the week ended yesterday, as investors descended on the high yielding investment market to pocket gains reaped in the preceding week that saw the market awarding the highest weekly return to investors since the beginning of the year. (AllAfrica)

DELTA Corporation Limited, Zimbabwe's prime producer and distributor of alcoholic and non-alcoholic beverages, has suffered a US$2 million impairment from the disposal of its 30 percent stake in Ariston Holdings Limited at US$4 million. (AllAfrica)

Activities on the Nigerian Stock Exchange retained its recovery streak yesterday on the heels of three days unsteady movement in the major performance indicators. (AllAfrica)

SHARES in technology company Spescom surged 5,77% yesterday to 55c, after it reported headline earnings per share of 12,7c for the year to September -- a rise of 24,5% from the previous year. (AllAfrica)

JSE-listed Rainbow Chicken , supplier of birds to fast-food chains KFC and Nando's, yesterday warned of lower profit levels to come, even as it reported higher chicken sales. (AllAfrica)

Equities' value on the Nigerian Stock Exchange (NSE) appreciated Wednesday, by N17.04 billion. Specifically, equities' value, represented by the market capitalisation, rose by 0.34 per cent to close at N5.064 trillion from N5.047 trillion at which it opened. (AllAfrica)

East African Portland Cement Company shareholders have approved the directors' decision to issue a Sh3 billion bond to repay a nagging yen-denominated loan. (AllAfrica)

Pristine Global Pvt has invested $100,000 to expand its business in Tanzania, Malawi and Senegal. (AllAfrica)

AFRICA Land Fund has gained control of Ariston Holdings after buying Delta Beverages' 41 percent equity in the horticultural firm for about US$4 million. (AllAfrica)

The Capital Markets Advisory Council (CMAC), an institution that regulates capital markets activities in Rwanda wants investors on the Rwanda stock exchange to be given more protection through the establishment of the Investors' Compensation Fund. (AllAfrica)

THE Government is working towards modernising all the markets in the country, Vice-President George Kunda has said. (AllAfrica)

THE Blue Ink All South African Hedge Fund Composite, which tracks about 100 hedge funds in SA, increased 11,79% for the 12-month period to end-September, while the FTSE/JSE a ll s hare i ndex rose 7,7% for the period. (AllAfrica)

TRADING on the Zimbabwe Stock Exchange opened the week bearish with the key industrial index shedding 2,54 percent to close at 159.94 points due to profit taking. (AllAfrica)

Losses recorded in the shares of 34 companies,especially those of Mobil, and food manufacturing major, Nigerian Bottling Company (NBC), yesterday pushed the primary equity performance indicators back to the negative region. (AllAfrica)

Preparatory to the listing of its shares on the Nigerian Stock Exchange (NSE) after a successful private placement, Geo Fluids Plc has recorded a shareholders' funds of N6.354 billion for the financial year ended December 31, 2008. (AllAfrica)

Stanbic IBTC Bank Plc has concluded arrangements to raise N2 billion from the capital market through its two new fixed income funds -- the Stanbic IBTC Money Market Fund (SIMM) and the Stanbic IBTC Bond Fund (SIBOND). (AllAfrica)

Buyers are coming down heavily on the Botswana Stock Exchange(BSE) outweighing sellers as the renewed confidence in the economy's performance has attracted investors back to the domestic bourse. (AllAfrica)

ON FRIDAY I told you that Jean and I were building a high- dividend yield portfolio as part of our own main portfolio and that we had bought shares in the construction company Stefanutti Stock Holdings (Stefstock). I wrote also that the staring point was a share price of R10,70 with a historic earnings yield of 17,3% and a dividend yield of 5,4%. (AllAfrica)

Botswana Insurance Holdings Limited (BIHL) has been handed a slap on the wrist by only being charged P25, 000 by the Botswana Stock Exchange (BSE) after it was found guilty of contravening listings requirements when its executive managers and directors sold themselves P300 million worth of shares in the group's subsidiary, Botswana Insurance Fund Management (Bifm). (AllAfrica)

Transaction reopened yesterday on a positive note, occasioned by heavy trading on the shares of some insurance stocks.Specifically, the insurance sub-sector accounted for 278.5 million units of shares, worth N170.3 million exchanged in 389 deals, representing 40 per cent of total market turnover for the day. (AllAfrica)

Equity Market (AllAfrica)

UNTIL relatively recently, big oil gave little thought to sub-Saharan Africa beyond the coast of Nigeria and Angola. That's changing rapidly after a significant find off the Atlantic coast of Sierra Leone, where both Anadarko Petroleum and U.K.-based Tullow have exploration licenses, and another strike in Uganda, where Tullow operates. (AllAfrica)

With the depleting financial base of the federal and state governments, in the face of the global economic downturn and mounting needs, exploring other sources of revenue appears inevitable. (AllAfrica)

Trading is low at the Uganda Securities Exchange (USE). This is because there are less people investing in stocks. (AllAfrica)

Found at nearly every casino in East Africa are the popular card games known as Pontoon, Blackjack aka "21", and Poker as well as roulette tables and electronic slot machines. (AllAfrica)

Kenya has launched the first ever automated bond trading market in East and Central Africa. (AllAfrica)

Indication that equities trading would open bullish today emerged last weekend as the capitalization of equities on the Nigerian Stock Exchange (NSE) closed the week on a promising note with market value growing by N34.14 billion, closing at N5.04 trillion against N5 trillion which opened trading on Thursday. (AllAfrica)

BUA Sugar Refinery Limited has hinted of its plans to increase its ownership structure, with the listing of its shares on the Nigerian Stock Exchange (NSE) in the near future. (AllAfrica)

The East African Community marks its 10th anniversary on Friday in Tanzania, where the heads of partner states are expected to sign the Common Market Protocol. (AllAfrica)

Director-General of the Nigerian Stock Exchange (NSE), Prof. Ndi Okereke Onyuike said the African Securities Exchange Association (ASEA) conference would soften effects of financial crisis on African capital markets. (AllAfrica)

EARLY in the year, a high-powered South African business delegation visited Zimbabwe to assess opportunities following the formation of the unity government. (AllAfrica)