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Market Brief - Africa Economic Financial Brief 15-19 November 2010
During the week of 15 – 19 November 2010, the majority of African stock markets gained alongside the major global stock markets. Global stocks rebounded as higher-than-expected U.S. corporate profits and expectations of an imminent resolution of Ireland's banking crisis outweighed renewed talk of further policy tightening in China. The stock market in Ghana led the winners among African stock markets, recording a substantial increase of 2.9%, followed by the markets in Uganda and Mauritius, which registered significant gains of 2% and 1.6%, respectively. Moderate gains of less than 1% were posted by the markets in Egypt, Morocco, Côte d’Ivoire, and Tunisia. On the other hand, three African stock markets fell, with the Nigerian stock market recording the largest loss of 1.6%, while those of South Africa and Kenya registered moderate losses of 0.9% and 0.3%, respectively.