Market Insight: February 14, 2012

Africa

•  Guinness Ghana returns to profit after investments in plants starts to pay off
•  Ghana Central Bank meeting tomorrow – rates expected to be unch as weaker currency drives up prices
•  Air Mauritius posts Q3 loss as high oil prices, pressure on yields and Euro crises “severely affect” results
•  France Telecom may spend $2bn to buy majority stake in Orascom Telecom

Nigeria

•  ASI -17bps, $8.88mill. Quiet day in Lagos to start the week, NB still seeing decent action
•  Poverty grows in 7 years through 2010 to 61.2% (from 51.6% in 2004) as faster economic growth fails to create enough jobs
•  Plan to increase electricity tariffs by 88% after the fuel price increase may stoke inflation

Kenya

•  NSE20 -10bps, $4.4mill. Increased activity with crosses in BMBC and SCAN lifting vols. Banking (EQBNK and KNCB) still remain active ahead of FY results

Botswana

•  DCI -4bps, $77k

Egypt

•  EGX30 +4.22%, $117mill, rally continues on strong volumes

Ghana

•  $57k

Mauritius

•  Semdex -43bps, $686k

South Africa

•  Top40 +1.06%, $1.19bn

Zambia

•  LuSE unch, $500

Zimbabwe

•  Ind +20bps, Mining +5.81%, $8.1mill. Special bargain of 42.7mill AFRE shares almost the entire market. Econet sold their shares to NSSA.
 

contacts
  • Bermuda +1 441 278 7620
  • South Africa +27 11 268 5833
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