Market Insight: July 09, 2015

Nigeria

•  ASI -108bps, $14.6mill
•  Nothing exciting to report from Lagos

Every day in Nigeria feels like Groundhog Day in the absence of any specific analyst and with foreign eyes diverted towards more pressing matters. The market remains absolutely dull and even though there is the odd cross going through the volumes remain low and sentiment remains weak. We expect today to be no different

Kenya

•  NSE20 -109bps, $12.9mill
•  Large crosses in Safcom dominated proceedings yesterday

The market is slow today with activity mainly being registered on KCB and NSE. Despite foreign investor demand on KCB, price has remained unchanged at KES 55.00. Only 1.6m shares have traded so far. As has been the trend for the past few months, NSE is still attracting foreign investor interest though it has shed 1.2%. Equity Bank for the first time this week is quiet with only 33,300 shares traded and investors showing little interest. Insurance companies are also fairly quiet despite the regulator releasing 1Q15 numbers which point to expected reduction in underwriting profit for the sector.

Botswana

•  DCI +15bps, $906k

Mauritius

•  Semdex -19bps, $3.6mill

Zimbabwe

•  Ind +53bps, $740k

African Currencies

Country

Notation

Currency

YTD %

South Africa

ZAR

12.56

-7.96

Nigeria

NGN

198.90

-7.77

Kenya

KES

100.40

-9.76

Mauritius

MUR

35.60

-10.82

Botswana

BWP

10.05

-5.33

Tanzania

TZS

2245.00

-22.81

Uganda

UGX

3580.00

-22.60

Rwanda

RWF

724.17

-4.75

Ghana

GHS

3.70

-13.04

BRVM

XOF

596.29

-9.11

Egypt

EGP

7.82

-8.64

Morocco

MAD

9.79

-7.06

Tunisia

TND

1.96

-5.35

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