Market Insight: November 19, 2013

Africa

•  Ghana Finance Minister Terkper plans spending cuts to narrow fiscal deficit and restore investor confidence
•  Zambia to sell K920m in treasury bonds on 22 November

Nigeria

•  ASI +45bps, $35.6m
•  Transcor (+10%) continues on its merry run with almost $10m trading in the name. Selected names saw some chunky crossing to bump up volumes with strong buying in consumers (+1%) led by Nestle (+4.4%)
•  Q3 GDP rises to 6.81% as oil recovers, up from 6.18% in Q2
•  Petroleum Minister Alison-Madueke says that Nigeria plans to sell its 4 state-owned oil refineries in 2014
•  Transcorp plans to produce its first oil in 2014 from Lease 281 in Niger River Delta while also planning to open 5-star hotel in the region

Kenya

•  NSE20 +0.29%, $4.7m
•  Foreign participation remains low yet foreign buying continues to drive EABL (+30bps), EqBnk (+2.1%) and KNCB (+1.1%) while local demand spurs Safcom (+50bps)

Botswana

•  DCI unch, $78k

Egypt

•  EGX30 +1.05%, $80m

Mauritius

•  Semdex -41bps, $2.61m

South Africa

•  Top40 +49bps, $1.15bn

Zimbabwe

•  Ind +48bps, Mining unch, $1.11m

African Currencies

Country

Notation

Currency

YTD %

South Africa

ZAR

10.12

-16.35

Nigeria

NGN

159.03

-1.81

Kenya

KES

86.50

-0.46

Mauritius

MUR

30.55

-0.16

Botswana

BWP

8.59

+10.35

Tanzania

TZS

1612.00

-1.67

Uganda

UGX

2507.98

+6.77

Rwanda

RWF

671.00

-5.89

Ghana

GHS

2.26

-15.92

BRVM

XOF

484.53

+3.04

Egypt

EGP

6.88

-7.60

Morocco

MAD

8.29

+2.10

Tunisia

TND

1.66

-6.77

contacts
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  • South Africa +27 11 268 5833
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