BMCE Capital Research Equity Risk Premium H2 2020
A lower risk premium
- Stock market sharply shaken in 2020 in the wake of the outbreak of the COVID-19 crisis with a stabilization of its poor performance from the second quarter;
- Downward revision of our forecasts for the evolution of the profit capacity in 2020 of Scope 40 companies in the wake of the impacts of the new health situation;
- Probable continuation of the arbitrage in favor of the equity market in view of the downward trend in the yield curve;
- New update of the risk premium to 8.2%, down 0.3pt compared to June 2020.
BMCE Capital Global Research is a subsidiary of BMCE Capital Group dedicated to Research and Financial Analysis. It is addressed to professional investors (financial institutions, management companies, etc.) to which it provides information and independent analysis aligned with international standards. BMCE Capital Research covers equities, interest rate, Forex and commodities markets in Morocco, Tunisia and WAEMU region (Bourse Régionale des Valeurs Mobilières, BRVM). Thanks to its latest generation technology platform, to its teams and to those of its partners, the Research Office of BMCE Capital is now able to cover simultaneously several places in Africa and to produce several publications co-branded under its umbrella brand African Securities Network, ASN.
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