Market Insight: March 02, 2012

Africa

•  Uganda cuts key interest rate by 1% to support economy
•  Produce Buying Co of Ghana says cocoa crop may exceed forecasts by 6%

Nigeria

•  ASI +35bps, $24.49mill. Some chunky crosses in select names livening up an otherwise quiet day
• AMCON seeking advisors to buy bad debt from lenders. AMCON planning to sell Mainstreet Bank, Keystone Bank and Enterprise Bank

Kenya

•  NSE20 +30bps, $3.2mill. All eyes on KNCB results which came out good with the name closing unch at 20.50.
•  KNCB posted FY11 results, very pleasing with profits up 53%. Loan growth was driven by the mortgaging business and the company controlled costs and non-performing loans. KNCB looking to expand further into East Africa
•  Safaricom increase tariffs on MPESA services for customers who send amounts greater than KES3500
•  Diamond Trust Bank posts 16% rise in FY11

Botswana

•  DCI +1bp, $268k

Egypt

•  EGX30 +38bps, $116mill

Mauritius

•  Semdex +36bps, $479k

South Africa

•  Top40 -7bps, $1.48bn

Zambia

•  LuSE +6bps, $804k

Zimbabwe

•  Ind -99bps, mining -3%, $1.6mill
 

contacts
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  • South Africa +27 11 268 5833
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