top story Africa investor Ai40 Weekly Commentary - 5 December 2016

Following last session’s drop in value, the Ai40 Index continues to suffer losses as it marks a decline of four consecutive sessions this week. Nonetheless, Nigerian banking equities proved to be star performers as they made up the entirety of the Gainers List. The Losers List this week featured a much more mosaic picture with stocks from five different countries. The index lost 0.56 points; a drop off 0.62% from last week’s value of 89.35. It closed the week out on a value of 88.79. It was a busy time in global markets last week as US equities closed largely flat on Friday according to CNBC. This followed weeks of the major indexes reaching record highs after Donald Trump’s electoral victory. On Friday, investors braced for another market mover in the form of the Italian Constitutional Referendum on 4 December. This event saw the Prime Minister, Matteo Renzi, resign after a heavy defeat and subsequently global markets fell into disarray on the back of renewed sentiment of European political instability. According to Reuters, "The euro fell to a 20-month low on Monday and investors fled riskier assets." Oil markets closed higher on Friday ($51 a barrel) after OPEC’s decision to cap output of the commodity.




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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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