Table 1 Summary statistics.

From: How did African stock markets react to the Russia-Ukraine crisis “black-swan” event? Empirical insights from event study

 

Before Russia-Ukraine War

After the Russia-Ukraine War

Securities

Mean

SD

ADF

Mean

SD

ADF

FTSE/JSE All Share

0.000736

0.00996

−15.797***

−0.000695

0.0147

−9.106***

AVI Equity

−1.87E-06

0.0159

−12.656***

−0.000669

0.0158

−5.955***

Nigerian Stock ASI

0.000471

0.00621

−6.427***

0.000659

0.00705

−8.692***

MTN Nigeria

0.000559

0.0152

−14.163***

0.000659

0.026

−9.801***

Econet Wireless Zimbabwe

0.00918

0.0461

−13.721***

0.00189

0.0531

−6.156***

Delta Corp. Ltd

0.0084

0.043

−11.271***

−0.00352

0.0593

−7.866***

Nairobi All Share Index

0.000248

0.00893

−12.973***

−0.00129

0.0134

−7.535***

Safaricom Kenya

0.000227

0.0133

−13.238***

−0.00179

0.022

−8.206***

Egyptian Exchange 30

0.000151

0.00888

−20.163***

−0.00108

0.0171

−15.139***

Commercial International Bank

0.000408

0.0128

−19.929***

−0.00246

0.024

−16.354***

Ivory Coast All share Index

0.0014

0.00608

−13.347***

−0.000279

0.0062

−8.944***

SONATEL BC Equity

0.000488

0.0137

−12.308***

−0.000117

0.0137

−8.825***

Stock Exchange of Mauritius

0.00098

0.00535

−14.613***

−0.000519

0.0043

−7.624***

MCB Group Ltd

0.000986

0.0117

−18.403***

−0.000169

0.0091

−8.964***

Morocco Casablanca Index

0.000524

0.00434

−13.842***

−0.0011

0.0089

−10.635***

Attijariwafa Bank

0.000377

0.00834

−18.880***

−0.001

0.016

−12.537***

Tanzania All Share Index

0.000253

0.00763

−18.919 ***

−0.000208

0.0147

−14.558***

CRDB Bank PLC

0.00192

0.0206

−16.712***

0.000993

0.0158

−6.426***

Tunisia Stock Exchange

0.000148

0.00355

−13.160***

0.000793

0.0031

−9.426***

Banque de Tunisie

0.00108

0.0117

−17.318***

0.00116

0.0121

−10.073***

  1. ADF the Augmented Dickey Fuller unit root test.
  2. ***denotes significance at 1%, **at 5% and *at 10%.
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