Market Insight: July 10, 2013

Africa

•  UAE pledges $3bn aid to Egypt – includes $1bn grant and $2bn interest-free deposit
•  Egypt’s former Finance Minister Hazem El-Beblawi elected as interim Prime Minister
•  IMF reduces SSA’s GDP outlook to 5.9% (down from 6.1%) on back of slump in export demand

Nigeria

•  ASI +0.61%, $20.25m
•  Bullish activity returned with both banks (+12bps) and consumers (+43bps) strong

Kenya

•  NSE20 +0.53%, $7.6m
•  Increased local activity bumped up volumes while foreign investors turned net buyers, mostly in Safcom, EqBnk and KenGen
•  Central Bank keeps benchmark interest rate unchanged at 8.5% to allow more time for 2 earlier reductions in 2013 to gain traction and fuel credit demand
•  KenolKobil to raise KES1.7bn ($19.6m) in private placement to fund day-to-day business

Botswana

•  DCI -0.12%, $125k

Egypt

•  EGX30 +3.26%, $56m

Mauritius

•  Semdex -0.06%, $237k

South Africa

•  Top40 -0.20%, $976m

Zambia

•  LuSE -0.64%, $56k

Zimbabwe

•  Ind +0.88%, Mining -2.86%, $1.6m

African Currencies

Country

Notation

Currency

YTD %

South Africa

ZAR

10.06

-15.76

Nigeria

NGN

161.70

-3.43

Kenya

KES

86.90

-0.92

Mauritius

MUR

31.25

-2.24

Botswana

BWP

8.71

+11.94

Tanzania

TZS

1632.00

-2.88

Uganda

UGX

2596.69

+3.12

Rwanda

RWF

650.50

-2.93

Ghana

GHS

2.04

-6.87

BRVM

XOF

513.02

-2.68

Egypt

EGP

7.02

-9.35

Morocco

MAD

8.68

-2.53

Tunisia

TND

1.68

-8.08

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