Market Insight: June 02, 2015


Nigeria

•  ASI -77bps, $27.6mill
•  Robust activity to start off the month on the back of foreign and local crossing

Changes were saved

Kenya

•  The market was closed

After the extended weekend, the Kenya market has opened the week with KCB being sold by foreign investors but domestic institutional demand keeping the price slightly higher. Co-op Bank is also witnessing reasonable volumes. Robust bids for EABL are being witnessed, especially driven by international investors. This appears to be a build up to the recent update in alcoholic beverage regulations which saw duty remission on beer made from sorghum, cassava and millet raised from 50% to 90%. NSE is holding up steady after last week's AGM. Uchumi is quiet after Choppies sought regulatory approval for the purchase of Ukwala- a small but reasonable well known supermarket chain with 10 outlets.

Botswana

•  DCI +3bps, $165k

Mauritius

•  Semdex +8bps, $1.82mil

Zimbabwe

•  Ind +8bps, $34k

African Currencies

Country

Notation

Currency

YTD %

South Africa

ZAR

12.24

-5.52

Nigeria

NGN

199.05

-7.84

Kenya

KES

97.65

-7.22

Mauritius

MUR

35.55

-10.69

Botswana

BWP

9.95

-4.47

Tanzania

TZS

2115.00

-18.06

Uganda

UGX

3060.00

-9.44

Rwanda

RWF

689.99

-0.03

Ghana

GHS

4.07

-21.04

BRVM

XOF

601.90

-9.94

Egypt

EGP

7.62

-6.21

Morocco

MAD

9.84

-7.80

Tunisia

TND

1.96

-5.26

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