top story Africa investor Ai40 Weekly Commentary - 25 April 2016

Another week of gains has seen the Ai40 Index climb to a value of 96.81; a jump of some 1.53 points on last week’s value of 95.28, or +1.6%. Losses were minimal this week while gains from a rampant Anglo American (its second straight week on top) and a rebound from MTN Group helped push the Index into another positive week. US stocks ended the week mostly flat as investors got wind of the fact that the earnings season is faring pretty poorly so far. Shares in both Microsoft and Alphabet were down on Friday, dragging the Nasdaq into a negative performance. Concerns over the US manufacturing performance also weighed heavily on major indexes as activity shrank in the first month of the second quarter. At Friday’s close, the Dow Jones Industrial Average was up 0.12%, or 21.23 points, to close the week at a value of 18,003.75. The Nasdaq Composite Index closed down by 0.80%, or 39.66 points, to end the week at a value of 4,906.23, while the S&P 500 was almost unchanged (0.00%, or a gain of just 0.10 points) to close Friday on a value of 2,091.58. Gainers Anglo American spent its second-straight week at the top of the Index. Although the company reported that production fell or remained flat at most of its mines, production figures are in line with previous guidance. It was up 10.7% for the week. Egypt’s Commercial International Bank (CIB) was in second place with a gain of 8.0% as a judgement announced this week will now allow CIB to proceed with the completion of a deal to sell CI Capital to Egyptian businessman Naguib Sawiris.






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Uche Orji
CEO of the Nigerian Sovereign Investment Authority, speaks at the Ai Investment Summit
Bob Diamond
Co-Founder, Atlas Mara, speaks at the Ai CEO Institutional Investment Summit
President Mahama
of Ghana speaks at the Ai CEO Institutional Investment Summit
President Museveni
of Uganda speaks at the Ai CEO Institutional Investment Summit

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