The week’s defining story across African stock markets today did not come from the continent’s largest exchange, but from Tunis, where the TUNINDEX closed at 20,847.19 points, up 55.0% in 2026. That performance stands in sharp contrast with Casablanca’s MASI, down 5.85% in 2026, and even with the BRVM’s steadier 1.7% year-to-date gain. The divergence captures the core message of the week: African bourses faced the same macro backdrop, but they priced it very differently.
That backdrop was unusually dense. Brent crude ended at $96.78 a barrel, down 3.9% on the day but still up 8.5% on the week, after a volatile run shaped by Iran-related supply fears and then partial relief from U.S.-Iran peace talk headlines. At the same time, the dollar strengthened against several African currencies, with USD/MAD up 2.86% to 9.355, USD/TND up 2.63% to 2.9545, and USD/KES up 0.87% to 129.53, while gold held near record territory at $4,067.6 an ounce, up 0.5%. Those three variables — oil, FX and precious metals — were enough to split the continent into winners, laggards and markets stuck in stock-specific trading.
Key figures
- TUNINDEX: 20,847.19, up 55.0% in 2026
- Brent crude: $96.78/bbl, up 8.5% on the week
- JSE All Share: 109,398.05, up 0.98% on the day
- MASI: 17,743.11, down 5.85% in 2026
- BRVM Composite: 484.32, up 1.7% in 2026