Market Insight: June 05, 2015

Nigeria

•  ASI -119bps, $10.8mill
•  The market still lacks a catalyst to get things on the way

The Nigerian market continues to dry up and soften in the continued absence of any specific catalyst. There is nothing that suggests that today's session will be any different.

Kenya

•  NSE20 -35bps, $5.6mill
•  KCB continues to rally of the back of foreign demand

The market has The market has opened with a bit of activity compared to yesterday poor open. Safaricom is the main mover on 2.2m shares at an improved price of 16.55. However, the company has attracted sellers lower at 16.35 with supply growing by the moment. Most of the sellers are international investors looking to lock in profits. EABL remains unchanged on 21,400 shares trading at shs 316 today. The counter has attracted demand at shs 312 mainly from foreign investors. KCB is down 1.68% trading at shs 58.50 on a small volume of 6,100 with EQUITY bank unchanged at shs 47.25 also on small volumes. Equity has block sellers coming in at levels of shs 48. We don't anticipate the counter to break 48 today as selling pressure increases over the session. Other notable counters attracting foreign demand are BOC, CFCBank, and BAT Kenya. However, these three counters have already hit 75% limit and therefore foreigners still cannot be able to buy shares despite the respective counters seeing supply from locals.

Botswana

•  DCI +5bps, $2.9m

Mauritius

•  Semdex +40bps, $3m

Zimbabwe

•  Ind +84bps, $479k

African Currencies

Country

Notation

Currency

YTD %

South Africa

ZAR

12.33

-6.16

Nigeria

NGN

199.00

-7.81

Kenya

KES

96.10

-5.72

Mauritius

MUR

35.25

-9.93

Botswana

BWP

9.95

-4.28

Tanzania

TZS

2147.50

-19.30

Uganda

UGX

3077.50

-9.96

Rwanda

RWF

689.50

+0.48

Ghana

GHS

4.18

-23.02

BRVM

XOF

584.79

-7.30

Egypt

EGP

7.63

-6.29

Morocco

MAD

9.67

-6.19

Tunisia

TND

1.93

-3.43

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