The week’s most important move did not start on an African exchange. It started with Brent crude at $109.03 a barrel, up 7.8% on Friday even after a 3.3% weekly decline, as the Strait of Hormuz crisis reshaped global pricing across oil, shipping and risk assets. For African equities, that single move redrew the map: Nigerian and South African energy names found support, while gold and silver-linked miners lost momentum as precious metals retreated.
Market context: African stock markets today moved on commodities and FX together
Across the 7 exchanges tracked by Afrivestia, this was not a simple “oil up, markets up” week. Currency moves mattered almost as much as commodity prices. The USD/ZAR rose 1.08% to 16.9985, the USD/EGP gained 1.42% to 54.25, the USD/KES added 0.74% to 130.0, and the USD/TND climbed 0.36% to 2.9165. In Morocco, the USD/MAD increased 0.90% to 9.4043, while the EUR/MAD jumped 3.09% to 10.82. That matters because most African listed companies do not experience commodity shocks in isolation; they experience them through imported costs, export receipts and balance-sheet translation.
Key figures
- Brent: $109.03/bbl, +7.8% on Friday, -3.3% for the week
- Gold: $4,651.5/oz, -2.8% for the week
- Silver: $72.74/oz, -4.1% for the week
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