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Little cheer for investors as African stock markets tumble

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Harare - Stock market investors in most African equities markets were left counting their losses after all but a few recorded losses, in United States dollar (US$) terms, for the seven months to August 31, 2016.

Investors on the Nigerian Stock Exchange were the hardest hit with the all share index plummeting by 38.1% as of August 31, 2016. The NSE All Share Index dropped 7.4% over the past year but with the naira weakening, US$ losses were more pronounced.

Nigeria has since slid into recession after the country’s gross domestic product contracted by 2.06% in the second quarter. Uncertainty over the naira and limited access to foreign exchange has seen foreign investors limiting their participation on the NSE.

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ZAR/USD
17.44
(+0.16)
ZAR/GBP
22.74
(+0.41)
ZAR/EUR
20.57
(-0.18)
ZAR/AUD
12.50
(-0.01)
ZAR/JPY
0.16
(+0.59)
Gold
1914.72
(+0.48)
Silver
25.45
(+2.51)
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928.99
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57417.28
(+0.44)
Top 40
53126.54
(+0.56)
Financial 15
10139.85
(-0.74)
Industrial 25
76210.18
(+0.91)
Resource 10
58992.57
(+0.54)
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