top story Africa investor Ai40 Weekly Commentary - 22 May 2017

The Ai40 Investor’s Index continued on an upward trajectory, albeit at a more subdued rate last week. Friday’s close marked the fourth consecutive week of gains buoyed by banking equities, which have stood out to be the top performing stocks tracked by the Index over the last month. The Index gained 0.29 points, an increase of 0.31% from last week’s value of 93.22, to close Friday at a value of 93.51. In the US, political risk factors made for a rollercoaster ride for financial markets. The S&P 500 rose to a new all-time record last Monday only for markets to be rattled on Wednesday and suffer this year’s worst drop. By Friday’s close, markets had surged back and recovered gains to be within 1% of the record set a few days earlier. According to Market Watch, "markets reacted to a report that Trump in February asked then-Federal Bureau of Investigation Director James Comey to stop an investigation into Russian interference into the U.S. presidential election, causing some investors to question whether Trump will finish his term." The US dollar took a beating as it fell 0.8% against a basket of major currencies, while gold - considered a safe haven asset - notched its best performance in five weeks. According to Reuters, oil enjoyed another week of gains as "expectations increased that big crude exporters will extend output cuts to curb an inventory glut." A barrel of Brent crude was trading at $53.71 on Friday. At Friday’s close, the Dow Jones Industrial Average was up 0.69%, or 141.82 points, to close the week at a value of 20,804.84. The Nasdaq Composite Index gained 0.47%, or 28.57 points, to end the week at a value of 6,083.70, while the S&P 500 rose by 0.68%, or 16.01 points, to close Friday on a value of 2,381.73.




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Obiageli Ezekwesili
Obiageli Ezekwesili, Vice President for the Africa Region World Bank speaks at the Africa investor Investment Climate Summit held in Washington DC in October 2010.
William Egbe at the Ai Investment Climate Summit
William Egbe, President of The Coca-Cola Company, South Africa Business Unit speaks at the Africa investor Investment Climate Summit held in Washington DC in October 2010.
Hurley Doddy at the Ai Investment Climate Summit
Hurley Doddy, Chief Operations Officer of Emerging Capital Partners speaks at the Africa investor Investment Climate Summit held in Washington DC in October 2010.
Bruce Wrobel at the Ai Investment Climate Summit
Bruce Wrobel, CEO of Sithe Global speaks at the Africa investor Investment Climate Summit held in Washington DC in October 2010.

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