Market Insight: May 11, 2015

Nigeria

•  ASI -4bps, $11.5mill
•  ETI was well offered throughout the session with the name closing weak at N24.49 (-0.24%)- most banking names closed in the red.

We expect a quiet start to the week in Lagos in the absence of any specific catalyst. The recent trend has been extremely quiet general trading while there are odd crosses in various names although general trading remains woeful. We expect this to continue with the ASI lacking any specific direction.

Kenya

•  NSE20 -8bps, $10.3mill
•  Foreigners were mainly selling large caps Safaricom (-0.6%, KES17.05) and EABL (-1.2%, KES321) whilst locals were taking advantage of the lower prices in KCB (+2.5%, KES60.50) and Equity Bank (+2.2%, KES46.50).

In the stock market, EABL has opened 1.9% down to trade at kshs315. Safcom opened at a stable price of kshs 17 after last week decline. kcb and eqbnk continue to edge upwards driven by int demand. uchumi is the biggest loser , down 5.5% to trade at 10.15 but we believe this price will not hold for long and the counter will regain value later in the day.

Botswana

•  DCI +9bps, $14.5k

Mauritius

•  Semdex +7bps, $501k

Zimbabwe

•  Ind -91bps, $861k

African Currencies

Country

Notation

Currency

YTD %

South Africa

ZAR

11.94

-3.13

Nigeria

NGN

199.52

-8.06

Kenya

KES

95.48

-5.11

Mauritius

MUR

34.85

-8.90

Botswana

BWP

9.78

-3.09

Tanzania

TZS

1975.00

-12.25

Uganda

UGX

3004.50

-7.77

Rwanda

RWF

715.04

-3.53

Ghana

GHS

3.86

-16.79

BRVM

XOF

587.29

-7.70

Egypt

EGP

7.63

-6.30

Morocco

MAD

9.70

-6.35

Tunisia

TND

1.92

-2.99

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