Market Insight: July 29, 2015

Nigeria

•  ASI -63bps, $10.8 mill
•  An off-market cross of 166m Oando at N16.50 was the highlight of the day

The market continues to underwhelm from an activity point of view during the northern hemisphere holiday season, and we expect the theme of low activity with the odd cross to continue today.

Kenya

•  NSE20 +41bps, $8.0mill
•  A large cross in EQBNK dominated proceedings

The market opened the day weaker, with foreign investor selling on Equity Bank and Safaricom. Safaricom has retreated 1.6% on 5.1m shares while Equity Bank is unchanged at 2m shares. Foreign trading on KenolKobil continued with 7.8m shares moved. Heavy volumes have been moved on the oil marketer for months now, with some of the shareholders thought to be exiting the business - probably leaving the Israeli registered entities as controlling shareholders. Barclays Kenya retreated 2.1% after Barclays Africa released 1H15 results. EABL fell 2% ahead of FY15 results this Friday. KQ is unchanged ahead of results tomorrow. Britam and Centum continued on a recovery mode, notching 10% and 5.8% higher respectively.

Botswana

•  Data not available at the time of writing

Mauritius

•  Semdex +54bps, $1.73mill

Zimbabwe

•  Ind -3bps, $875k

African Currencies

Country

Notation

Currency

YTD %

South Africa

ZAR

12.58

-8.10

Nigeria

NGN

199.25

-7.93

Kenya

KES

102.30

-11.44

Mauritius

MUR

35.42

-10.38

Botswana

BWP

10.06

-5.42

Tanzania

TZS

2095.00

-17.28

Uganda

UGX

3420.00

-18.98

Rwanda

RWF

754.50

-8.57

Ghana

GHS

3.51

-8.42

BRVM

XOF

597.92

-9.36

Egypt

EGP

7.82

-8.62

Morocco

MAD

9.79

-7.42

Tunisia

TND

1.95

-4.66

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