Key Market Views: Leaving Lagos

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Given the current correction in global equities and oil prices and uptick in risk aversion, we are exiting our long Lagos All-Share Index and SEMDEX trades in our mock portfolio. The technical and fundamental pictures for both look less appealing, and we prefer to lock in gains of 8.6% and 27.0% respectively. Meanwhile, we are maintaining our bullish position on Ghana's US$ 2017 global bond.