Major African Stock Market and Exchange Rate Changes in Q3-2014

Advansa International follows exchange rates and stock market indexes for several emerging and frontier markets. Exchange rates and stock indexes are recorded on the last trading day of the week. The tables below show changes from the last trading day of the last full week of the quarter for several key markets in Africa.

Table 1 

 STOCK MARKET INDEX TRACKER 3RD QUARTER 2014

AFRICA

COUNTRY

3RD QUARTER PCT CHANGE

GHANA-Local Currency

-4.18%

GHANA-US$

-3.87%

KENYA-Local Currency

7.92%

KENYA-US$

6.18%

NIGERIA-Local Currency

-3.24%

NIGERIA-US$

-3.86%

SOUTH AFRICA-Local Currency

-1.90%

SOUTH AFRICA-US$

-7.28%

WEST AFR. BOURSE-Local Currency

9.21%

WEST AFR. BOURSE-US$

2.28%

MSCI AFRICA-Local Currency

0.52%

MSCI AFRICA-US$

-4.41%

MSCI EMERGING MARKETS-Local Currency

1.44%

MSCI EMERGING MARKETS-US$

-2.13%

Sources: Stock exchange websites, Financial Times, Advansa International data

Table 2

3RD QUARTER 2014 EXCHANGE RATE TRACKER

AFRICA

COUNTRY

3RD QTR PCT CHG

YTD

SEP PCT CHANGE

CFA AREA*

-6.92%

-7.85%

GHANA

0.31%

-26.89%

KENYA

-1.74%

-3.64%

NIGERIA

-0.62%

-2.10%

SOUTH AFRICA

-5.38%

-6.72%

TANZANIA

-1.16%

-5.46%

UGANDA

-1.89%

-5.51%

Sources: Financial Times, Advansa International data

*Includes most French speaking countries such as Benin, Cameroon, Cote D’ivoire, Guinea, Senegal, Togo and others

Emerging and frontier market stocks showed mixed results as the MSCI Emerging Markets Index rose 1.44%, and the MSCI Africa Index was up 0.52%. Choppy commodities prices, and mixed economic performance lead to losses in some countries like South Africa and gains in others. The Nairobi Exchange in Kenya and the West Africa Bourse were the strong performers in Q3.

Currencies that were weak in the first half of the year—notably Ghana—have largely stabilized. Though most currencies are lower against the dollar, this is due more to a strong dollar than weakness elsewhere. The US Dollar index rose from 99.316 in Q2 to 100.342 in Q3.

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