A little bit of activity in Letshego the only name worth mentioning on another dull day in Gaborone.
A strange day in Nairobi as most of the day we saw a totally dead market although a couple of crosses livened up proceedings. The main action went through in Safcom (foreign buying, local selling) with some very aggressive buyers pushing the stock up 2.3% to KES17.90. Both major banks were soft with Equity Bank slipping to KES39.75 (-60bps) while KNCB fell by a further 1.4% to KES36.50. There was also a nice cross in EABL at KES 300 (foreign seller, local buyer).
Activity continued to improve today thanks to crosses in MCBG and SBMH as 286k shares and 21.8m shares changed hands in the names respectively. There was also a bit of activity in ENL Land (256k shares) and LUX (114k shares). On the economic front, tourist arrivals increased +9.8% in May.
In the absence of any substantial crosses today we saw volumes fall back down to ridiculously woeful levels. There is a complete and utter lack of interest in the market although there was an announcement out today that Nigerian Officials pledged to announce the way forward for the Naira in the coming weeks. To that end, we expect things to continue to be muted until more color is received. Banks slipped by 28bps today with only Zenith (-68bps, N14.70) and Access (+94bps, N5.35) seeing any modicum of trades. Consumers got hammered by 2.22% although the sector was painfully dull.
Please note that the index figure above is correct at the time of writing.
Some activity in Econet was the highlight of the day as 3.4m shares changed hands in the name while the rest of the market was it's usual dull self.
Country |
Notation |
Currency |
YTD % |
South Africa |
ZAR |
14.73 |
5.02 |
Nigeria |
NGN |
199.05 |
0.13 |
Kenya |
KES |
100.96 |
1.33 |
Mauritius |
MUR |
35.25 |
1.70 |
Botswana |
BWP |
10.81 |
3.93 |
Tanzania |
TZS |
2192.00 |
-1.95 |
Uganda |
UGX |
3348.00 |
0.72 |
Rwanda |
RWF |
794.75 |
-6.26 |
Ghana |
GHS |
3.89 |
-2.19 |
BRVM |
XOF |
582.48 |
6.19 |
Egypt |
EGP |
8.87 |
-11.76 |
Morocco |
MAD |
9.63 |
3.13 |
Tunisia |
TNF |
2.10 |
-2.88 |