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Market Brief - Africa Economic Financial Brief 9-13 August 2010
During the week of 9 – 13 August, growing concerns about fragile economic recovery, especially in the U.S., weakened global stock markets and major commodity markets. In turn, most African stock markets followed suit and closed the week with losses. The stock markets in Kenya, Nigeria and South Africa registered substantial losses of 3.8%, 3% and 2.7%, respectively, while marginal losses of between 0.1% and 1.2% were posted on the markets in Côte d'Ivoire, Egypt, Mauritius and Morocco. In contrast, the Ghana stock market registered a significant gain of 2.8%, followed by Uganda and Tunisia which registered minor gains of 0.7% and 0.3%, respectively.