top story Africa investor Ai40 Weekly Commentary - 24 April 2015

Africa investor Ai40 Weekly Commentary - 27 April 2015 Monday’s public holiday in South Africa saw a shortened week for Ai40 Weekly Commentary review period. By Thursday’s close, the Ai40 Investor’s Index was down 0.79 points, or 0.69%, to reach a value of 112.73, falling from 113.52 points. Thursday was a banner day for the Nasdaq, which posted its first record close in fifteen years, while the S&P 500 came close to its own record. Higher oil prices and a weakening dollar accounted for the gains, despite mixed corporate earnings and a forecasted weaker-than-expected economic outlook. By Thursday’s close, the Dow Jones Industrial Average gained 0.11%, or 20.42 points, to close at a value of 18,058.69. The Nasdaq Composite Index jumped 0.41%, or 20.89 points, to end the week on a value of 5,056.06, while the S&P 500 was up 4.97 points, or 0.2%, to close at 2,112.93. Gainers BRVM-listed Ecobank enjoyed the session’s best performance: the Togo-based bank gained 8.1% to reach a price of US $0.09. Ecobank announced that its 2014 pretax profit rose 144% to 86.44 billion naira ($434 million), thanks to efforts to curb the banks expenses. Nigeria’s First Bank took second position with a 5.4% increase in price while South African-listed Anglo American was in third with a gain of 4.3%. The mining giant reported a solid production performance in Q1. Kenya’s Equity Bank increased in value by 4.0% and Maroc Telecom (Morocco) was up by 2.4%. Middle Eastern telecom giant Etisalat has boosted revenues and profits in the third quarter thanks to its takeover of Maroc Telecom last May.


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