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Market Brief - Africa Economic Financial Brief 11-15 October 2010
During the week of 11 – 15 October 2010, most African stock markets rallied alongside stock markets in Europe and the United States. The latter rose on expectations that the U.S. Federal Reserve would provide additional monetary stimulus in the near term. Among African stock markets, those in Nigeria and Mauritius led the winners, recording substantial appreciations of 5.5% and 4.1%, respectively. The stock markets in Uganda, Côte d’Ivoire, and South Africa registered moderate gains of between 1.4% and 2.5% while those in Ghana, Kenya, and Egypt posted marginal gains of less than 0.6%. In contrast, the stock market in Tunisia declined by 2.4%.