Market Insight: August 06, 2015


Nigeria

•  ASI +310bps, $15.2mill
•  Banks (+2.90%) and Consumers (+2.88%) drove the market higher yesterday

Nigeria remains dull although there has been some strong buying interest returning particularly in the banks. However, we are not sure how sustainable this is as there are still no fundamental reasons for the strength and we feel its more due to some bargain hunters coming back into the fray.

Kenya

•  NSE20 -60bps, $18.3mill
•  Large crosses in the likes of Safcom, EQBNK and KNCB drove proceedings yesterday

The market opened lower but trended higher as the session wore on with turnover robust at $8.1m - a day after the MPC left the benchmark rate unchanged. Safaricom is unchanged on a turnover of $28.9m. Equity Bank, KCB and Centum are also among the largest movers. Equity Bank has added 1.9% to KES 40 as CFC Bank notched 4.7% higher. Kenya Airways has retreated 1% with some high net worth investors bidding in the airline, but with supply outweighing demand by 5:1. KenGen is unchanged after an analyst briefing this morning, 4 weeks ahead of FY15 results. The company reiterated expectations of robust FY15 numbers and said the rights issue will be held in first quarter of 2016.

Botswana

•  DCI -6bps, $23k

Mauritius

•  Semdex +15bps, $750k

Zimbabwe

•  Ind -56bps, $153k

African Currencies

Country

Notation

Currency

YTD %

South Africa

ZAR

12.81

-9.70

Nigeria

NGN

199.25

-7.93

Kenya

KES

100.80

-10.12

Mauritius

MUR

35.45

-10.44

Botswana

BWP

10.15

-6.47

Tanzania

TZS

2128.21

-18.57

Uganda

UGX

3500.00

-20.83

Rwanda

RWF

726.70

-5.08

Ghana

GHS

3.82

-15.77

BRVM

XOF

608.51

-10.92

Egypt

EGP

7.82

-8.64

Morocco

MAD

9.88

-7.90

Tunisia

TND

1.98

-6.02

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