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Nigeria -
06 May 2013
NIGERIAN STOCK MARKET INVESTORS GAINS N2.35TRN($15.13B) THIS YEAR
Investors on The Nigerian Stock Exchange (NSE) have so far gained N2.35 trillion this year, as the market outperformed its peers in Africa in the first four months driven by strong financials from the banking sector and blue chips as well as renewed confidence by offshore investors. The All Share Index posted a 25 per cent year-to-date gain as at Friday, a decent margin by any means, shadowing the strong showing by African stock exchanges including Kenya and Botswana, compared with the more established European bourses.
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Nigeria -
06 May 2013
NSE ALL SHARE INDEX CROSSES 35,000 MARK SINCE - HIGHEST POINT SINCE 2008
The Nigerian Stock Exchange (NSE) reported last Friday that its All- Share Index crossed to 35,000 mark for the first time after the capital market crashed in 2008. The index appreciated by 606.95 points or 1.76 per cent to close at 35,109.33 on Friday from the 34,502.38 posted on Thursday. Similarly, the market capitalization, which opened at N11.03 trillion, grew by N194 billion to close at N11.23 trillion as a result of price appreciation.
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Mozambique -
25 Feb 2013
Mozambique Targets Gas Companies for Stock Listings
Mozambique’s stock exchange may add five new listings by 2018, the first as early as June, as companies exploring for gas raise funding for projects, said Anabela Chambuca Pinho, chief executive officer of the bourse.
“Foreign companies operating or those wishing to extract gas and oil in our country that are listed on other exchanges have to be listed on our exchange in Mozambique,” she said in an interview in Victoria Falls, Zimbabwe yesterday. “These companies will need to raise capital in our markets.”
The southern African nation, site of the world’s largest discovery of natural gas in the past decade, has attracted companies including Anadarko Petroleum Corp. and Eni SpA as it pushes for investments of as much as $30 billion into the industry by 2018. The economy of more than 23 million people expanded 6.8 percent in the third quarter. Vale SA, the world’s biggest iron-ore producer, is building a railway line to transport coal from a mine in Mozambique to the coast.
The Maputo, Mozambique-based bourse, known as the Bolsa de Valores de Mocambique, has a market capitalization of more than 30 billion meticais ($977 million) with three listed companies as well as government and corporate debt, according to its website. Stocks include SABMiller Plc’s Cervejas de Mocambique SA, a brewer, and Cia. Mocambicana de Hidrocarbonetos SA, a state-owned oil and gas company.
“By end of June, we expect one more company to be listed,” Chambuca Pinho said, declining to identify the business because of confidentiality agreements. “We are small in terms of numbers currently listed but we are growing.”
A company must have a market capitalization of more than 28 million meticais to trade on the market, she said. The bourse recorded 250 trades in 2012, 191 of which were in the equity market and 21 on the bond market, Chambuca Pinho said. It trades from 9 a.m. to 12 p.m. on Tuesdays, Thursdays and Fridays, according to its website.
The metical weakened 0.5 percent to 30.7000 per dollar as of 5:45 p.m. in the capital, Maputo. The currency has dropped 3.3 percent against the dollar this year.
To contact the reporter on this story: Godfrey Marawanyika in Johannesburg at gmarawanyika@bloomberg.net
To contact the editor responsible for this story: Antony Sguazzin at asguazzin@bloomberg.net
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