Market Insight: April 20, 2012

Africa

•  The Public Investment Corp, Africa’s largest fund manager, buys 20% of Ecobank for $250mill
•  SABMiller maintains volume growth as gains in Africa and LatAm offset drop in Chinese consumption
•  African International Energy to pay $270mill for 74% of Ibhubesi gas project off Africa’s West Coast
•  Electrobas of Brazil considering $6bn hydropower and transmission lines project in Mozambique
•  Zambia looking to change Companies Act to ease bureaucracy

Nigeria

•  ASI +1.40%, $19.5mill. Banks again leading the rally (BNK10 +3.34%) with First Bank, UBA, FCMB and IBTCCB all limit up
•  First Bank looking to sell $500mill Eurobond around Q3 2012
•  Nigerian parliamentary committee recommends that gasoline importers refund approx. $6.3bn in fuel subsidies it considers illegal

Kenya

•  NSE20 +1.29%, $2.55mill. Solid buying interest in the large cap names continues. EqBnk +25bps, KNCB +106bps, Safcom +1.54% and EABL +1.46%

Botswana

•  DCI +15bps, $625k

Egypt

•  EGX30 +76bps, $51mill

Mauritius

•  Semdex +17bps, $903k

South Africa

•  Top40 +22bps, $1.51bn

Zambia

•  LuSE -14bps, $240k

Zimbabwe

•  Ind +3bps, Mining -1.54%, $784k
 

contacts
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  • South Africa +27 11 268 5833
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