Most indices set to post double-digit gains

Of the 11 main indices in Africa, ex South Africa, eight advanced and three lost ground in November.

With the exception of Botswana’s Gaborone Index, all indices were in positive territory year to date with Zimbabwe’s ZSE Industrial Index recording a paper profit of 158%.

Ghana’s GSE Composite Index led the gainers in November with a 6.78% surge to end the month 49.29% in profit year to date.

The Lusaka All Share Index advanced 4.29% for the month, extending its year-to-date gain to 27.44%.

The Nigeria All Share Index increased 3.45% in November to settle 41.19% ahead on the year.

Egypt’s EGX30 Index added 3.98% lifting its year-to-date gain to 18.12%.

Namibia’s NSX Overall Index improved 3.19% in November to settle 13.7% in profit on the year.

Tunisia’s TUNINDEX gained 2.29% to end the month 13.36% ahead year to date.

Kenya’s NSE 20 progressed 2.01% in November, taking its year-to-date gain to 19.41%.

The Morocco All Share Index (MASI) added 1.9% and was 7.94% higher for the year so far.

In mid-November, Zimbabwe’s military effectively unseated president Robert Mugabe, ending a 37-year reign that oversaw the precipitous decline of the country’s economy. With the sudden change in leadership, fears of hyperinflation eased and investors headed for the exits, causing the ZSE Industrial Index to take a -28.53% tumble. The index was nevertheless still 158% ahead for the year, having gained 78.02% and 24.73% in September and October respectively, making it the world’s best performer for the year so far.

The SEMDEX in Mauritius slipped -0.82% to end the month 20.54% ahead year to date.

Botswana’s Gaborone Index retreated -0.41% to end the month -5.54% in arrears year to date. CopyrightHedgeNews Africa – December 2017.