Market Insight: July 07, 2015

Nigeria

•  ASI -28bps, $8.3mill
•  An absolute dire start to the eek yesterday with foreigners all but absent

As foreigners continue to focus all the attention on Greece, we expect them to remain absent for the large part and therefore expect another very dull session.

Kenya

•  NSE20 +3bps, $18.9mill
•  Another large cross in EQBNK was the highlight of the day

Safaricom retreated 0.31% on 1.1m shares (mainly foreign investor trades) to KES 16.30 ahead of new competition rules due to be tabled in Parliament. The new rules lower the dominance criteria and target to have M-Pesa as a national platform used by all the three players in the telecommunications sector. Uchumi was quiet after issuing an update of its business this morning where it earmarked a specific land for sale to raise cash, undertake a forensic audit and stop expansion. EABL has not traded, with investors adopting a wait and see attitude over whether there will be respite on indiscriminate raids on alcoholic distributors and bars. Centum notched 0.8% on foreign investor buying. Britam retreated 2.5% on local investor trades.

Botswana

•  DCI +1bps, $16k

Mauritius

•  Semdex +1bps, $620k

Zimbabwe

•  Ind -51bps, $13k

African Currencies

Country

Notation

Currency

YTD %

South Africa

ZAR

12.42

-6.89

Nigeria

NGN

198.90

-7.77

Kenya

KES

100.15

-9.54

Mauritius

MUR

35.37

-10.23

Botswana

BWP

9.95

-4.38

Tanzania

TZS

2225.00

-22.11

Uganda

UGX

3435.00

-19.33

Rwanda

RWF

741.00

-6.91

Ghana

GHS

3.93

-18.13

BRVM

XOF

596.42

-9.09

Egypt

EGP

7.82

-8.63

Morocco

MAD

9.78

-7.20

Tunisia

TND

1.96

-5.19

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