Market Insight: May 02, 2012

Africa

•  Egypt presidential front-runner Moussa pledges to boost public spending as key to economic recovery
•  Bharti plans full year Africa Capex of $1bn

Nigeria

•  ASI unch, $39.4mill. Very active day to end the month, lots of action in NB around the N110 level while most banks still active

Kenya

•  NSE20 +34bps, $3.94mill
•  Kenya inflation rate falls to lowest level in almost 1 year (13.1%) fuelling calls for a rate cut later this week
•  Trade deficit widened 24% in Feb as imports climbed, mostly in food, machinery and transport equipment
•  Kenyan government raises minimum wage by 13%

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