Market Insight: July 28, 2015

Nigeria

•  ASI -91bps, $11.4mill
•  An absolutely dire start to the week yesterday

The Lagos bourse remains woefully dead as no new catalysts around to spur the market into action. The China stock market freefall is no doubt contributing to the complete lack of apathy shown by investors. We expect another slow day with maybe just 1 or 2 crosses going through.

Kenya

•  NSE20 -73bps, $4.6mill
•  Foreign investors continue to dominate proceedings

The market opened the day with heavy volumes by foreign investors; 2m shares of Equity Bank, 1m shares on KCB, 6m shares on KenolKobil & 1m shares in Kenya Power. National Bank climbed 7.6% after releasing robust 1H15 results with net profits almost doubled. Centum notched 7.9% on 109k shares, on local investor trading while Britam adder 9.7% on local investor demand. Overall, the market is more upbeat during the session. In Senate hearing with the Central Bank of Kenya, the governor admitted that monetary policy was not sufficient to limit currency depreciation, saying that fiscal policy had to play its role. He also highlighted global developments which have seen the US economy recover strongly.

Botswana

•  DCI unch, $725k

Mauritius

•  Semdex +23bps, $890k

Zimbabwe

•  Ind -91bps, $925k

African Currencies

Country

Notation

Currency

YTD %

South Africa

ZAR

12.63

-8.46

Nigeria

NGN

198.95

-7.79

Kenya

KES

101.75

-10.96

Mauritius

MUR

35.50

-10.56

Botswana

BWP

10.09

-5.33

Tanzania

TZS

2083.00

-16.80

Uganda

UGX

3375.00

-17.90

Rwanda

RWF

740.81

-6.88

Ghana

GHS

3.55

-9.36

BRVM

XOF

593.16

-8.63

Egypt

EGP

7.83

-8.67

Morocco

MAD

9.76

-7.03

Tunisia

TND

1.95

-4.64

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