Market Insight: May 29, 2015

Nigeria

•  ASI -13bps, $59.9m
•  A big day with both local and foreign investors involved in some chunky crosses ahead of today's holiday

Please note that the market is closed today due to the Presidential Inauguration

Kenya

•  NSE20 -62bps, $7.6m
•  Local investors heavily dominant on a rather dull day in Nairobi

The market opened upbeat during the session with foreign investors contributing to the bulk of the trades, mainly on KCB and Safaricom. Safaricom opened flat, with the price picking up 1.9% as the session wore on. BAT was also heading higher, presumably because of the weaker currency, which tends to help exporters. EABL added 1% on relatively modest institutional trading. Standard Chartered Bank was quiet after announcing disappointing (-28%) 1Q15 results. It is not clear what the impact of Central Bank intervention in the market yesterday had on market appetite. The monetary authority was said to have been in the market selling dollars, and is expected to raise rates next week when the MPC holds an emergency meeting.

Botswana

•  DCI +8bps, $9.9m

Mauritius

•  Semdex -35bps, $1.28m

Zimbabwe

•  Ind -49bps, $783k

African Currencies

Country

Notation

Currency

YTD %

South Africa

ZAR

12.18

-5.09

Nigeria

NGN

199.03

-7.83

Kenya

KES

97.68

-7.24

Mauritius

MUR

35.40

-10.31

Botswana

BWP

9.93

-4.38

Tanzania

TZS

2095.90

-17.28

Uganda

UGX

3051.00

-9.18

Rwanda

RWF

686.46

0.49

Ghana

GHS

4.05

-20.53

BRVM

XOF

605.40

-10.46

Egypt

EGP

7.63

-6.26

Morocco

MAD

9.86

-8.03

Tunisia

TND

1.97

-5.59

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