Market Insight: June 17, 2015

Nigeria

•  ASI -35bps, $18.2mill
•  Highlight of the day was an off market cross of 17m Mobil at N171.93 ($14.6m)

We expect a quiet day in Lagos outside of the odd cross.

Kenya

•  NSE20 +29bps, $5.4mill
•  KCB reached a two week low to close at KES57.00

The market opened the day with a block trade on TPSEA Serena, up 1.4%. In last week's budget, the government allocated KES 5.2bn for tourism recovery. Co-op Bank added 2.3% to KES 22 on foreign investor buying - which has been consistent over the last few weeks. The market was however generally quiet. BAT and EABL were quiet after details of the new Excise Tax Bill (following last week's budget) were reported by the Business Daily. The higher taxes will not be effective immediately, but generally cheaper brands have been negatively affected by the new tax regime. Centum rose 0.8% after releasing FY15 results before the market opened with a 160% jump in PAT, driven by the sale of a 13% stake in UAP to Old Mutual.

Botswana

•  DCI -5bps, $28k

Mauritius

•  Semdex +3bps, $310k

Zimbabwe

•  Ind +199bps, $152k

African Currencies

Country

Notation

Currency

YTD %

South Africa

ZAR

12.38

-6.60

Nigeria

NGN

198.95

-7.79

Kenya

KES

97.35

-6.93

Mauritius

MUR

35.12

-9.60

Botswana

BWP

9.96

-4.52

Tanzania

TZS

2225.00

-22.11

Uganda

UGX

3188.00

-13.08

Rwanda

RWF

709.99

-2.84

Ghana

GHS

4.37

-26.37

BRVM

XOF

586.40

-7.56

Egypt

EGP

7.62

-6.25

Morocco

MAD

9.68

-6.29

Tunisia

TND

1.93

-3.89

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