Market Insight: July 31, 2015


Nigeria

•  ASI -25bps, $21.1mill
•  A large cross in NB ($13m) was the highlight yesterday

Nothing changes in Lagos as volumes remain dull. Yesterday we did see a couple of crosses in the likes of NB and Nestle. However, the ASI drifts aimlessly lower and we expect this to continue for myriad reasons.

Kenya

•  NSE20 -99bps, $3.6mill
•  A slow day yesterday with KNCB dominating proceedings

MARKET COLOUR: The market has opened on a slow note today with EABL as the leading mover. The brewer announced FY15 numbers with EPS up 37.8%y/y. The numbers were above our forecasts as we had not factored in the sale of the Central Glass Industries Subsidiary (CGIL). The company has been traded mainly by foreign investors and has moved 302,000 shares so far. NSE follows closely on foreign investor buying and has gained 1.5%. The bourse has moved 519,000 shares so far. Up 3.9%, Britam has also attracted foreign investor interest. Kenya Airways is down 9.5% as investors show disappointment in the carriers poor numbers. ARM is also down 8.7 following yesterday's poor results.

Botswana

•  DCI +88bps, $2.9mill

Mauritius

•  Semdex -25bps, $830k

Zimbabwe

•  Ind +40bps, $1.12mill

African Currencies

Country

Notation

Currency

YTD %

South Africa

ZAR

12.72

-9.10

Nigeria

NGN

199.00

-7.81

Kenya

KES

102.28

-11.42

Mauritius

MUR

35.42

-10.38

Botswana

BWP

10.13

-6.04

Tanzania

TZS

2113.00

-17.98

Uganda

UGX

3410.00

-18.74

Rwanda

RWF

752.25

-8.30

Ghana

GHS

3.72

-13.59

BRVM

XOF

604.75

-10.36

Egypt

EGP

7.82

-8.60

Morocco

MAD

9.85

-7.87

Tunisia

TND

1.97

-5.73

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