• BRVM to introduce a new continuous trading system from the beginning of 2013. Part of this process will mean that as of 8 June 2012 the following changes will begin:
> The closing will now happen randomly between 10:29 and 10:31 instead of 10:30.
> There is a possibility to trade outstanding balances between 10:45 to 11:15 at the day’s closing price. The volume traded should be less or equal to that of the remaining bids or offers for the day.
> For orders entered at the same price, priority is given to the first order entered. Orders will be served on a first come first served basis, no matter the volume.
> Orders out of the +/- 7.5% daily limit are excluded and do not participate to the price fixing.
> Possibility to enter AON (all or none) orders but these orders do not participate to the price fixing; an ordinary order has priority on AON orders. AON orders cannot be at market or at better limit.
> Possibility to enter orders with minimum fill but these orders do not participate to the price fixing; allocation is done after the ordinary orders are satisfied and once the required volume is reached. Can’t be at market or at better limit
• Uganda plans to sell first Eurobond in next 2-3 years to finance infrastructure projects
• Closed yesterday for Democracy Day. We expect another quiet day today as market holidays disrupt the week
• NSE20 -25bps, $1.94mill. Dull day in Kenya as many market participants absent
• KNAL to announce delayed results of rights offer on 6 June with listing to take place on 21 June (instead of 12 June)
• DCI +10bps, $189k
• EGX30 -1.14%, $49mill
• Semdex -1bp, $1.1mill
• ALSI +1.02%, $1.1bn
• LuSE +1.83%, $36k
• Ind -45bps, Mining +1.1%, $2.1mill