Market Insight: July 24, 2013

Africa

•  Ghana cedi falls to record low and shares of state-run companies are falling on prospects that Ghana’s Supreme Court will cancel President Mahama’s victory and put at risk the improving economy
•  Rwanda H1 tea revenue drops as prices fall and output declines

Nigeria

•  ASI -0.54%, $27.04m
•  A large cross in Transcorp (both sides local, approx. $8m) the main volume on the day while we see banks (-54bps) and consumers (-1.58%) weak
•  Central Bank keeps interest rate unchanged at 12% for 11th consecutive meeting in effort to protect the naira as oil theft threatns to reduce government revenue and increase borrowing

Kenya

•  NSE20 -0.35%, $4.9m
•  Local investors dominated trading in Nairobi while mild profit taking in the larger cap names
•  Kenya planning $800mill infrastructure bond to expand broadband internet

Botswana

•  DCI +0.02%, $1.05m

Egypt

•  Closed yesterday

Mauritius

•  Semdex +0.07%, $482k

South Africa

•  Top40 +0.71%, $1.3bn

Zambia

•  LuSE +0.58%, $416k

Zimbabwe

•  Ind -0.23%, Mining -0.34%, $1.45m

African Currencies

Country

Notation

Currency

YTD %

South Africa

ZAR

9.80

-13.53

Nigeria

NGN

161.75

-3.46

Kenya

KES

87.30

-1.37

Mauritius

MUR

31.00

-1.45

Botswana

BWP

8.51

+9.32

Tanzania

TZS

1633.00

-2.94

Uganda

UGX

2585.00

+3.56

Rwanda

RWF

649.00

-2.70

Ghana

GHS

2.07

-8.00

BRVM

XOF

498.72

+0.11

Egypt

EGP

7.00

-9.12

Morocco

MAD

8.45

+0.14

Tunisia

TND

1.65

-6.17

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