Market Insight: May 07, 2015

Nigeria

•  ASI -50bps, $17.3m
•  Activity remains dead in Lagos as outside of some unusual crosses in the likes of Transcorp and Vitafoam there was nothing notable going on

We expect yet another quiet day in Nigerian trading as the absence of any specific catalyst remains. The recent trend has been extremely quiet general trading while there are odd crosses in various names (yesterday it was Vitafoam and Transcorp). We expect this to continue with the ASI lacking any specific direction

 

Kenya

•  NSE20 -32bps, $8.9m
•  KNCB down 30bps on back of poor Q1 numbers

Kenya is most likely to follow Nigeria in terms of volumes although with Safcom releasing Q1 results early this morning we may see some activity on the back of this. Safcom results were better than expected although the name is still unchanged. Bids are pretty strong but the name is oscillating between 17.55 and 17.60. Equity Bank and KNCB continue seeing supply today with Eqbnk down 1.6% at 46.75 and KCB down 2.5% at 59. EABL remains stable at KES 325

 

Botswana

•  DCI +1.29%, $3.3m

Mauritius

•  Semdex -16bps, $1.5m

Zimbabwe

•  Ind +30bps, $2.2m

African Currencies

Country

Notation

Currency

YTD %

South Africa

ZAR

11.94

-3.12

Nigeria

NGN

199.16

-7.89

Kenya

KES

95.20

-4.83

Mauritius

MUR

35.03

-9.36

Botswana

BWP

9.78

-2.66

Tanzania

TZS

1982.00

-12.56

Uganda

UGX

2998.00

-7.57

Rwanda

RWF

715.04

-3.53

Ghana

GHS

3.86

-16.75

BRVM

XOF

578.52

-6.30

Egypt

EGP

7.57

-5.61

Morocco

MAD

9.61

-5.60

Tunisia

TND

1.89

-1.77

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