Market Insight: May 23, 2012

Africa

•  Glencore pays $340mill to increase stake in Mutanda copper mine in DRC
•  Malawi inflation rate jumps to 12.4% in April, highest in past 6 years
•  World Bank to fund Kenya-Ethiopia power project
•  Ghana Oil rises to highest price on record as investors bet that rebranding will boost revenue
•  ZTE, China’s second-largest maker of phone equipment submits a bid for $1.3bn to improve Ethiopia’s telecoms network

Nigeria

•  ASI +15bps, $23.26mill. Crosses in specific names dominating vols, once again Total the highest value traded
•  MPC unanimously keeps benchmark rate unchanged at 12% in effort to bolster NGN and curb high inflation

Kenya

•  NSE20 -98bps, $2.46mill
•  Gulf Power of Kenya plans 80-Megawatt Nairobi electricity plant

Botswana

•  DCI +1bp, $90k

Egypt

•  EGX30 -29bps, $35mill

Mauritius

•  Semdex -14bps, $2.5mill

South Africa

•  Top40 +1.35%, $1.18 bn

Zambia

•  LuSE +1.45%, $146k

Zimbabwe

•  Ind +79bps, Mining unch, $1.3mill
 

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