HENATES

At the Nigerian Stock Exchange, the All share index continued to decline on Thursday November 29, under pressure from 23 price drops led by Dangote Cement. The ASI dropped to 30,611, down 1.33%  as DangCem paced decline with N5 or 2.63% per share although it did by rallying from day low of N6.8 per share. It ended the day with 120 deals for 1.076m shares worth N199.32m. GTB was the only other equity with above N1 per share drop, as it shed N1.3 or 3.65% per share while witnessing day high 387 deals valued at N465.01m. On the other hand, there were only 12 price gains and none was up to N1 per share. Lead top up by Access Bank as it closed with N0.5 or 7.14% per share gain while recording 160 deals for 2nd highest 73.570m shares worth N503.410m. Trading activity picked up strongly though with traded volume paced by Universal Insurance with offload of 150.05m shares in just 21 deals valued at N30.O1m. Stanbic IBTC recorded day high N2.195bn traded value in 26 deals for 43.914m shares jus...

Of the 9 prices changes recorded at Ghana Stock Exchange on Wednesday November 28, 2018, 5 out of 7 drops ended as new year lows and none of the 2 price gains were new year high. It is a pointer to the fact that investors remain cautious about future prospects hence the Ghana Composite Index once again declined, this time to 2644.78 from 2666.81 on Tuesday and after Monday's rally. The pair of Republic Bank and Fan Milk paced price drops and the new lows with GHs 0.08 per share decline each. Fan Milk witnessed exchange of only 200 shares at GHs 8.8 per share with which it also ended the day compared to GHs 8.88 per share previously. This was a new year low. Republic Bank on the other hand, closed the day at GHs 0.86 per share compared to GHs 0.94 previously but after recording last deal at GHs 0.82 per share. Much as the closing price was also a new year low, bid and offer prices closed lower at GHs 0.8 and 0.82 per share respectively. All other price drops were of GHs 0.01 per sha...

For the 4th running, the Nigerian Stock Exchange closed down on Wednesday November 28 raising spectre of a plummeting week. The All share index closed 0.48% down at 31,023.47 after closing down 1.14% on Tuesday; 0.46% on Monday and 0.96% on Friday. Yes decline was a relatively crowded pack but the core of the matter was that DangCem did a solo by pacing decline by N3 or 1.56% per share decrease. It was a solo because no other price drop was above N1 per share and Stanbic IBTC's N1.05 or 2.15% per share gain to lead gainers was just barely across the N1 per share bar. For both equities, discovering closing prices was easy. DangCem simply slipped to close at N190 per share from N193 previously while Stanbic found and closed at N50 per share as against N48.95 on Tuesday. In terms of volume traded while these price discoveries were made, they were close, but poles apart in terms investors interest aka numbers of deals struck. DangCem recorded 63 deals for 0.205m shares worth N39.159m w...

For the 3rd running at the Nairobi stock market on Wednesday November 28, market closed positive as the All share index rose by 0.58 points to 145.30 truly putting up and down swing behind. Almost 7 day run of up today, down tomorrow had been paused on Tuesday with growth instead of decline in the ASI and so, confirms end of the end. Interestingly, the ASI growth was inevitable as of the 36 price changes tecorded only 11 closed down. 25 were up. Besides, margin of growth was higher too. No equity went down by up to Ksh 1 per share but at least 3 crossed this mark amongst price gainers. Top gain was that clocked by East African Breweries while closing active as usual. Total of 42,500 shares of EAB were traded for Ksh 7.4m and in the process, it hit day high of 178 per share, low of Ksh 173 then closed at Ksh 175.25, up Ksh 4.25 per share on Tuesday's Ksh 171 per share. Other major price gainers were Standard Chartered Bank up Ksh 1.75 per share and Bamburi Cement which topped up by ...

After heading mainly downwards since its peak of $47.50bn in May, this year, Nigeria's foreign reserves finally reversed trend for the second day on Monday November 26, 2018. According to figures obtained from the Central Bank of Nigeria, it closed Monday at $41.829bn, up 0.18% on the $41.599bn on Friday November 23. This meant for two consecutive days, Friday and Monday, the reserves rose from November 22 2018 year low of $41.523bn on Thursday.  However, the figure is still $5.671bn or 11.9% down on the May 2018 peak from which a turn was made from mainly upwards movement since the year. The draining of the nation's reserves was particularly fast in October. More than $2bn was drained from it in October alone.  On October 2, 2018, Nigeria's foreign reserves stood at $44.025bn. It dropped to $43.257bn by the 12th; $42.061bn by October 30 before ending the month at $41.995bn The Central Bank had once explained that it was committed to defending the Naira and so, will continu...

At the Ghana Stock exchange on Tuesday November 27, the number of companies that closed with deals came to 7, up strongly on the 3 on Monday but, even then, trade ended in smaller showers or trickles. In all 13,457 shares were traded compared to equally low 30,554 on Monday ( updated our 29,920 shares in previous review). In addition, the Ghana Composite index resumed downwards as it closed at 2666.81 from Monday's 2667.33 which was a rally on previous daily decline. The decline was that marginal because the decline by Enterprise Group Ltd was too weighty for the price increases recorded by the pair of Standard Chartered Bank and UNIL. EGL recorded exchange of 1600 shares at GHs 2.5 per share buy closed the day at GHs 2.53, down GHs 0.05 on the GHs 2.58 per share on Monday. Offer price though still remained at the opening price of GHs 2.58 with no matching bid for more deals. SCB ended the day up GHs 0.02 per share as it closed at last deal price of GHs 20.2 pe...

The up today, down tomorrow trend noticeable at the Nairobi Securities Exchange since Tuesday last week, was on Tuesday November 27 brought to a halt. Wednesday though will decide if this is just a pause. The All share index at the market closed up this Tuesday by 0.29 points to 144.72 after increasing by 0.30 points on Monday. That broke with the trend that started with an increase on Tuesday last week, followed with a drop on Wednesday then another rise on Thursday 22nd before closing Friday 23rd down. It was from this the Monday rally occurred in step but a drop the following day Tuesday, not an increase, would have kept the trend going. It was a close pressure point between gainers and losers though with 20 price gains and 19 drops recorded. The difference was that higher margin of gains were more. Gainers were led by Kapchorua Tea as it closed up Ksh 3 per share after touching day high of Ksh 75, low of Ksh 159 before closing at Ksh 74 per share compared to Ksh 71 previously. It w...

New executives have been elected to run the affairs of the African Securities Exchange Association (ASEA) for the next two years. They were elected at the two-day 22nd Annual General Meeting of the association held this week November 26 and 27 2018 at the Oriental Hotel Victoria Island, Lagos. The new team is led by Mr Karim Hajji CEO of Casablanca Stock Exchange as President with Mr Edoh Kossi Amenounve as his deputy. Other members of the new executive committee are Mr Geoffrey Odundo CEO of Nairobi Stock Exchange; Ms Nicky Newton of Johannesburg Stock Exchange, Mohammed Farid Saleh of Egyptian Exchange, Botswana Stock Exchange's Thapeto Tsheole; and Pierre Ekoule of Doula Stock Exchange  Others are Ghana Stock Exchange's Koffi Yamoah; and Pierre Celestin Rwabukumba of Rwanda Stock Exchange. The new committee replaces the one led by Nigerian Stock Exchange's Oscar N Onyema through two terms totalling 4 years. The 22nd AGM and Conference had as its theme Champions on the ri...

The All share index at the Nigerian Stock Exchange Tuesday November 27, tumbled by 359.79 points or 1.14% to 31,173.71 through combined dominance of decline and top weighted equities amongst the crowd. At 23, price losers almost outnumbered 14 price gains 2:1 but to boot Seplat Petroleum, 11 Plcshed  and Dangote Cement, top weighted by market capitalisation led the road down. Seplat paced with a hefty N62.7 or 9.61% per  share decline as it found and closed at N590 per share from N652.7 previously while witnessing 27 deals for 0.211m shares worth N124.801m. DangCem trailed from a distance with N2 or 1.03% per share drop as 36 deals were struck that involved exchange of 0.065m of its shares for N12.592m. In between both though, 11 plc shed N5 or 3.03% per share to clock 9 deals for 0.030m shares valued at N4.861m. There were 2 other major drops: Forte Oil shed N1.9 or 9.90% per share while 0.493m shares were exchanged in 84 deals worth N8.614m and PZ Cussons rose by N1.15 or 9.83% per s...

UBA DIVESTS FROM IKEJA HOTEL UBA, through its UBA Trustees Ltd, has sold its 279.104m shares in Ikeja Hotel Plc to OMA Investments Ltd. According to official notice from Olayiwola Osituwo Compliance Officer of Ikeja Hotel, the deal brings OMA's shareholding in the company to 538.109m shares or 25.89%. He says the deal was reportedly done at N2.05 per share amounting to $572m. This was the closing price on the Nigerian Stock Exchange by last Friday November 23, 2018. II PLC RESUMES AVIATION FUEL SALE. II Plc, formerly Mobil oil Nigeria, has resumed sale of aviation fuel after 5 years of inaction. The sales resumed at the Murtala Mohammed International Airport and the domestic wing in collaboration with Air BP. According to the company, resumption was possible because of construction of new 20m liter aviation fuel tank and laying of new pipelines linking its facilities to Apapa jetty. 11 PLC's CEO, Mr O Oyebanji said of the development: "We are delighted with the relaunch an...

It looked like back to usual at the Nigerian Stock Exchange on Monday November 26, 2018 when compared to Monday, the last week. Last week Monday, the week's top number of deals was recorded alongside the lowest traded volume and value. On Monday the number of deals rose to 2911 from Friday's 2819 while traded volume and value declined to 104.868m shares worth N1.941bn compared to 223.844m shares valued at N2.627bn. Is this likely to be another lowest volume and value come week end with number of deals being the high? One thing though, last week Monday heralded with growth in the All share index to 32,222.24 from 32,053.28 but this time around, the ASI slipped 0.46% to 31,533.50. The price drops were 18 compared to 17 gains and seemed to be of lower Naira margins than drops. Three equities rose by above N1 per share while only one went down by this reference point. The leading gain was N2.75 or 9.42% per share as CAP Plc found and closed at N31.95 from N29.2 while 15 deals for 0...

Trade was definitely at its lowest on Monday November 26 at the Ghana Stock Exchange with everything in trickles. Traded volume almost dried up closing at 29,920 shares compared to 987,544 shares dealt in on Friday. There were only 3 companies with deals 2 of which ended with price change upwards leading to a marked rise in the Ghana Composite Index to 2667.33 from 2639.75 on Friday. Some how, though this GCI rally reminded of Monday last week when there was also increase in the index raising hopes of more market optimism which did not materialise. For the rest of the week, it was down all the way. The main traded volume for the day was recorded by Access Bank in which 25,000 shares were traded. The last deal was recorded at GHs 4.1 per share but Access closed the day at GHs 4.08 per share. At this level, Access shed GHs 0.18 per share when compared to GHs 3.9 per share closing price on Friday.  The other price gainer was MTN Ghana which was fined recently by the Ghana National Communi...

One take away was clear from trading at Nairobi Stock market on Monday, November 26 2018, price change hit record low of Ksh 0.01 per share never before observed at the market by Henates. Hitherto, the lowest had been Ksh 0.05 per share down or up but on Thursday 2 equities closed up by only Ksh 0.01 per share. Eveready in the commercial sector and Mumias sugar in the manufacturing sector both closed with that margin to record first such very marginal gain observed. Eveready during the day, hit a high of Ksh 1.15 per share then a low of Ksh 1.10 and closed at Ksh1.11 per share compared to Ksh 1.10 the previous Sunday. Mumias also had quite a shift up and down hitting day high of Ksh 0.70 per share, low of Ksh 0.60 and closed at Ksh 0.66 per share compared to Ksh 0.65 per share previously. In all there 19 price gains and 16 drops hence the All share index rose by 0.30 points to 144.43 especially as Safaricom was among the gainers. Top gain was a twin affair as both BOC Kenya and East Af...

MTN Ghana, the company that went public recently and now is a highly weighted equity in the market, was last week fined GHs 9.08m by the National Communication Authority of Ghana. The Ghana NCA imposed the fine because of what failure of MTN to meet mean opinion score thresholds ( that is speech quality measurements). According to information made available to the Ghana Stock exchange as part of listing requirements, the company is not happy with the fine. It is arguing that it has spend about GHs 749m on improving its infrastructure alone in recent times and looks forward to a review of the fine. Within this context, says the release by the Exchange on the matter, hopes for amicable resolution of the matter are not misplaced.

The one glaring thing about last week ended November 23, 2018 at the Ghana Stock Exchange was that trade was bountiful but prices discovered trended down more. Yes, there were only 8 price drops and 3 gains within the week compared to 10 drops and 3 gains the previous week but all this resulted to was slight decrease in the rate of decline of the Composite Index. The GCI declined by 3% from 2721.32 to 2639.73 compared to 3.4% drop the previous week. It started the week with a rally to 2736.03 on Monday then went down daily from then on till Friday close. The leading price gainer for the week was Enterprise Ghana which added GHs 0.02 per share on Monday and Tuesday, then shed GHs 0.02 per share on Thursday. The rest 2 were Ecobank Transnational Incorporated and SIC Insurance with GHs 0.01 per share gain each. On the other hand, top price drop was GHs 1.08 per share by Fan Milk ltd in which there were price changes in 4 out of the 5 trading days. It started the week with major GHs 0.96 p...

Last week ended November 23, 2018 business was done only in 4 days but it turned to be 4 days of wonder when compared to the 5 days of previous week. Sure, the All share index closed 1.26% down at 31,678.70 but the wonder here is that in previous week's 5 days, the ASI ended down by only 0.44%. However, the real wonder had to do with traded volume and value both of which took great leaps on Thursday when 605.542m shares of Zenith bank were offloaded in 176 deals worth N14.533bn. This placed Zenith at the top of both traded volume and value within the week with 648.188m shares exchanged for N15.557bn in 2nd ranked 851 deals. More importantly, it drove traded volume for the week to 1282.251m shares, just a shade short of the 1285.647m recorded in 5 day previous week. What's more, it put traded value at N23.142bn for the 4 day week compared to only N11.530bn in the previous 5 day week. The Zenith offload did not lead to any scramble as such so, number of deals struck for the week ...

The cookie at the Nairobi Securities Exchange did crumble less last week ended November 23, 2018 as the All share index eased by 0.53% to close at 144.13 compared to 1.44% dive the previous week. This might be because in the last 4 days of the week, it was more the case of up today, down tomorrow till Friday close. The week started on Monday with a drop in the ASI to 143.95 then follow up and down it finally closed at 144.20 on Thursday before slipping to the Friday close. However, decline in traded volume was not at lower rate. Traded volume dropped by 34.4% to 53.901m shares from previous week's 82.153m while traded value did drop by only 16.3% to Ksh 1678.313m from Ksh 2004.756m. In spite of the activity drop though, investors interest as expressed by number of deals struck did improve by 4.97% to 4936 from previous week's 0.84% rise to 4707 On both sides of the price discovery divide, 2 equities closed up and down in more or less solo runs. Limuru Tea, on a lone price chang...

There was a market leap in traded volume on Thursday, November 22 at the Ghana Stock Exchange primarily on the back of offload of MTN Ghana's shares and also, relative more the merrier once again. Traded volume closed the day at 2.523m shares compared to very lowly 90,887 units recorded on Wednesday and even 536,583 shares recorded on Tuesday. MTN accounted for much of the day's volume as it closed with deals for 2.14m shares; the last deal being done at GHs 0.8 per share with which it also closed the day. At that closing price, MTN shed GHs 0.02 per share from the previous day's GHs 0.80 per share and looked set to stay there for a while because closing offer was at the same price. Ghana Commercial Bank also recorded relatively high volume as 302,000 of its shares were traded, the last deal being at GHs 4.75 per share. GCB closed the day though at GHs 4.80 per share, up GHs 0.03 per share from previous day's GHs 4.77 per share. The Ghana Composite Index continued downw...

NIGERIA naira USD: 306.25 EUR: 349.7069 CFA: 0.5227 GBP: 394.8788 YUAN: 44.166 ZAR: 22.1431 COTE D'IVOIRE CFA  EUR: 655,957 USD: 575,250 JPY: 5,080 GBP: 736,000 CAD: 434,750 CNY: 83,000 KENYA shillings USD: 102.3583 GBP: 131.1025 EUR: 116.8703 SWAZILAND Lilangeni EUR: 15.8784 USD: 13.9231 GBP: 17.8074 JPY: 8.1194 RWANDA franc AOA: 2.819204 CAD: 662.006255 CNY: 126.402626 EUR: 988.238134 GBP: 1,119.843121 JPY: 7.749526 NGN: 2.860367 USD: 875.801135 ZAR: 62.842235 SIERRA LEONE Leone GBP: 10,781.02 EUR: 9,614.73 USD: 8,577.93 BURKINA FASO CFA EUR: 655,957 USD: 575,250 JPY: 5,080 GBP: 736,000 CAD: 434,750 CNY: 83,000 BOTSWANA pula ZAR: 1.317 EUR: 0.0829 GBP: 0.0946 CNH: 0.6545 JPY: 10.69 MADAGASCAR MGA EUR: 4147.01 USD: 3634.86 GBP: 4679.88 JPY: 32.19 CAD: 2749.93 ZAR: 262.96 CNY: 524.25 EGYPT pound USD: 17.9091 EUR: 20.4396 GB...

On Thursday, November 22, 2018, the Nairobi Securities Exchange witnessed a very rare event: Trading of less than 1m shares of Safaricom in one day. The company is by far the highest weighted one in the market with issued share capital available for trading unmatched by any other. Hence, it was more the norm for Safaricom to record deals for not less than 1m each day. However, on Thursday Safaricom recorded deals for only 683,000 shares at between Ksh 23.75 and 24 per share worth N16.2m while closing firm and so, having no role in the 0.17 points rally by the All share index to 144.20. But it did lead to dive in trading volume from 16.730m shares to 7.008m and in traded value to Ksh 130.757m, a new low from Ksh 499.168m. The ASI rally was driven more by Ksh 35 per share jump in the share price of British American Tobacco as it found and closed at Ksh590 per share compared to Ksh 555 previously. There were other major price gains as well that led to the rally in spi...

At the Nigerian Stock Exchange on Thursday, November 22, as the All share index continued with its up and down movement, an offload of 605.542m shares of Zenith Bank was recorded. The offload virtually made the day in terms of traded volume and v alue although the number of deals sealed waa short of day high. The offload was snapped up in 176 deals worth day high N14.533bn. It represented 90% of the total traded volume for the day (672.560m shares) and 95.5% of the N15.215bn traded value clocked. In the process Zenith closed 5th highest Naira gain with N0.15 or 0.63% per share hitting day high of N24.25 per share, low of N24 before closing at N24.15 per share compared to N24 on Wednesday. It was not a day of fantastic price discovery as 15 price gains and 13 drops were recorded, with only one each way changing by above N1 per share. The lone ranger amongst the gainers was Flour Mills up N1.85 or 9.85% per share. It had closed Wednesday at N18.6 per share then hit day low of N19.95 befo...

NIGERIA naira USD: 306.25 GBP: 392.3063 EUR: 349.3088 YEN: 2.7092 CFA: 0.5232 YUAN: 44.1361 ZAR: 21.9515 SWAZILAND Lilangeni EUR: 16.0135 USD: 14.0527 GBP: 18.0049 JPY: 8.0292 COTE D'IVOIRE CFA EUR: 655,957 USD: 575,500 JPY: 5,100 GBP: 737,500 CAD: 433,000 CNY: 82,875 TANZANIA shillings USD: 227,928.84 EUR: 250,635.93 GBP: 292,762.21 KES: 2,216.11 ZAR: 16.292.29 SIERRA LEONE  Leone GBP: 10,738.8 EUR: 9,555.36 USD: 8,387.38 RWANDA franc AOA: 2.818720 CAD: 658.433368 CNY: 126.105100 EUR: 996.451969 GBP: 1,109.346649 JPY: 7.681026 KES: 8.429231 NGN: 2.831129 USD: 866.981868 ZAR: 61.570018 KENYA shillings USD: 102.8583 GBP: 132.0689 EUR: 117.4322 UGANDA shillings USD: 3,722.83 GBP: 4,525.53 EUR: 4,260.44 KSH: 36.2 TSH: 1.62 EGYPT pound USD: 17.9091 EUR: 20.437 GBP: 22.4469 YEN(100): 15.8396 CNY: 2.5824 BOTSWANA pula ZAR: 1.3235 EUR: 0.0827 GBP: 0.0735 USD: 0.0941 CNH: 0.653 JPY: 10.62 NAMIBIA N$ $: 14.0822 £: 18.0159 €: 16.0229 AOA: 0.0717 MADAGASCAR MGA EUR: 4140.09 USD: 3638.43 GBP: ...

On Wednesday November 21, 2018 the Nigerian stock exchange closed on reversed gear kind of when compared to the previous trading day, Monday; Tuesday being a holiday. On Monday, in historic fashion only 5 price drops were recorded amidst 26 lrucr gains leading to rally by the All share index by 0.51% to 32,222.24. On Wednesday, the story was quite the opposite although not in a historic fashion. There were only 10 price gains and 22 drops thus pressing the ASI by 0.78% to 31,968.79. There were 2 major price gainers. 11 plc (erstwhile Mobi oil) led with N15 or 10% rise as it found and closed at N165 per share compared to N150 previously while witnessing 32 deals for 0.036m shares worth N5.939m. The other was Stanbic IBTC up N2 or 4.12% per share in 20 deals for 9.302m shares valued at N477.422m. Other gains were below N1 per share. On the other hand, 4 equities went down N1 or above per share. Presco was the pace setter with N4.1 or 6.10% decline while recording just 10 deals involving ...

Of the 33 price changes at the Nairobi stock market on Wednesday, November 21 2018, 25 or a big pool of sorts was downwards so much so that mighty Safaricom's price gain made no difference. The All share index closed down 0.14 points at 144.03 as most sectors of the market were more or less dominated by bears. All 6 price changes in the Commercial and services  sector were downwards; just like 6 out of seven in the banking sector; and 4 out of 5 in Agriculture. Trade in Limuru Tea was among the rare events in the market and whenever it occurred, the price had a way of heading down. Wednesday was no exception. As it recorded deals for 1300 units Limuru Tea tumbled Ksh 33 per share to pace the crowded price losers group for the day. It was followed by East African Breweries in the manufacturing sector with Ksh 8 per share decline before fellow agric equities like Williamson Tea and Kapchorua Tea, showed up. Williamson Tea shed Ksh 6 per share while Kapchorua Tea lost Ksh 3.50 per sha...

The National Bureau of Statistics (NBS) Nigeria, has released Consumer Price Index for October 2018 and it shows a slight decrease year on year. According to the NBS the index grew by 11.26% in October compared to 11.28% growth in September thus putting an end (or punctuating?) consecutively higher growing inflation rates recorded in August and September. Hitherto, the increasing growth rates recorded in the 2 months had brought on fears that the gradual decline in the inflation rate since the all time highs recorded 4 months up to January 2017 was now in jeopardy. The inflation had hit all time high of 18.72% in January 2017 before the gradual decline began every month till August this year. But as usual, the food index continues to drive the CPI. For October, says NBS, the food index grew by 13.28% compared to 13.31% in September but all the same, still higher than the CPI. The pressures came from price increases noticed in tubers, bread and cereal products; Vegetables, fruits, oil a...

RWANDA franc AOA: 2.819048 CAD: 664.703390 CNY: 126.111667 EUR: 1,125.337736 GBP: 1,125.736726 JPY: 7.779521 KES: 8.516238 NGN: 2.859320 USD: 875.480597 ZAR: 62.188451 GHANA cedi USD: 4.79 GBP: 6.1424 CAD: 3.6135 ZAR: 0.3391 EUR: 5.4597 CNY: 0.6902 SIERRA LEONE  Leone GBP: 10,767.74 EUR: 9,554.81 USD: 8,387.38 BOTSWANA pula ZAR: 1.3251 EUR: 0.0823 GBP: 0.0943 USD: 0.0943 CNH: 0.6536 JPY: 10.6 NAMIBIA N$ $: 14.0757 £: 18.0950 €: 16.1122 AOA: 0.0717 SOUTH AFRICA Rand USD: 14.0135 GBP: 18.0333 EUR: 16.0658 JPY: 0.1246 MADAGASCAR MGA EUR: 4152.18 USD: 3634.52 GBP: 4671.81 JPY: 32.31 CAD: 2758.65 ZAR: 258.68 CNY: 523.68 MALAWI kwacha EUR: 835.3823 GBP: 938.3457 USD: 729.719 ZAR: 51.8634 KENYA shillings USD: 102.8056 GBP: 132.0781 EUR: 117.5247 ZIMBABWE dollar ZAR: 14.071800 GBP: 1.285585 JPY: 112.550000 CAD: 1.316950 CNY: 6.941800 KES: 102.700000

The rally in the Ghana Composite index on Monday November 19 at the Ghana Stock Exchange has turned to be just a punctuation as it resumed downwards on Tuesday November 20. The GCI ended the day at 2688.08, down 47.95 points from Monday's positive growth to 2736.03 on the main back of MTN Ghana's GHs 0.02 per share gain. This time there were only 4 price changes and all but one were down. The lone ranger, Fan Milk interestingly, went down GHs 0.96 per share to pace declibe on Monday. On Tuesday, it gained back GHs 0.23 per share to close at GHs 9.23 per share after recording last deal at GHs 9.17 per share. It was indeed a very active day for FML because 521,300 of its shares were traded accounting for the bulk of the day's 536,583 traded volume. Offer ended at GHs 9.18 per share though hinting at the closing price not being likely to hold for long although again, a deal can be struck at low price then bounce back like it happened on Tuesday. The 3 price losers were led by ...

After five days of decline, the All share index of the Nairobi stock market finally rallied by 0.22 points on Tuesday November 20 2018 to 144.17. It had last grown on Monday last week when it closed at 147.16 from previous Friday's 147.01. A very small shift but one that turned out to be golden. From there it dropped consistently daily through the rest of the week and on Monday November 19 2018.to hit a low of 144.90. The rally occurred as 17 price gains and 13 drops graced the day with Safaricom not among any side of the divide because it closed firm. Lead price gain was Williamson Tea up Ksh 6 per share after hitting day high of Ksh 164 per share before closing at Ksh 160 per share. It had ended Monday at Ksh 154 per share. On its trail was what looked like a rash equally major declines. British American Tobacco rose by Ksh 5 per share just slightly ahead of fellow manufacturing and more active equity, East African Breweries which shed Ksh 4 per share. The day was not done with ...

The Central Bank of Nigeria has issued a formal report on the impact of the N200bn Commercial Agriculture Credit Scheme (CACS) introduced in 2009 as collaborative effort between the apex bank and the Federal Ministry of Agriculture and Water Resources. The scheme was set up in 2009 with N200bn raised by the Debt Management Office through a 7 year bond. It was intended to be made available to companies for agriculture and agric processing activities through participating commercial banks and through States if they choose to access maximum of N1bn for on lending to cooperatives in their domain. The dream, says the CBN, was to fast track agricultural production, enhance food security, reduce agric credit cost, employ more Nigerians and raise foreign exchange earnings of the country. According to the report, as the 7 year period expired on 2016, a total of 191 businesses across the country had benefitted from a total of N147.87bn disbursed. Of this number, 151 or 79.1% were private limited...

The quest of Ecobank Transnational loan facility to "maintain base with diversified strong market" has closed oversubscribed. According to Greg Davis, the Group Financial officer of the parent body of all Ecobank brands in Africa, the facility was originally for $150m through Deutsche Bank but had to be increased to $200m when $268.5m subscription was received. The facility is for a short period and is due for repayment by November 2019. The syndicated loan was requested for by Togo based Ecobank Transnational Incorporated ( ETI) through a mandate given to Deutsche Bank to put it together. ETI is the parent body of Ecobank subsidiaries currently in 36 African countries. It is present in some 40 countries with 1200 subsidiaries and offices, says the GFO, that currently employs over 20,000 persons. ETI is quoted on 2 of the 3 stock exchanges presently reviewed by Henates: Nigerian Stock Exchange and Ghana Stock Exchange. However, at the Ghana stock market ETI is quoted alongsid...

For the first time in a very long while, if not in years, the Nigerian Stock Exchange closed with only 5 price drops out of 31 price changes on Monday November 19. The losers just barely composed top five declines for the day as against 26 price gains. As a result the All share index closed up for the 3rd day running after rallying on the last 2 days of last week. It closed at 32,222.24, up 0.51% on Friday's 32,058.28 which itself was an improvement on Thursday's 31,864.80 which kicked off the late rally last week that reduced its decline. The only major price drop recorded was Forte Oil's N1.60 or 7.77% per share rise as it closed at N19 per share after touching high and low of N19.45 and N18.65 per share respectively. The other 4 drops were marginal indeed led with Mutual Benefit Insurance, Union Dixon; and WAPIC insurance shed N0.02 per share each trailed by Diamond Trust Bank with N0.01 per share decline. Top priced equity, Nestlé Nigeria, by ...

At the start of the week on Monday November 19, 2018 at the Nairobi stock market, traded value hit year low as 7.075 shares were traded in 917 deals worth Ksh 253.413m. From available records, this was the lowest traded value for over a year since in May 14, 2017 a total of 7.955m shares were traded in 1120 deals worth Ksh 141.014m. However, lower traded volume was clocked on September 10, this year when 6.704m shares were exchanged in 1071 deals valued at Ksh 388.184m, far ahead of this Monday's traded value. Closest to the Monday value was February 19, this year  when 8.809m shares were traded 1199 deals worth Ksh 254.261m just about a million higher than the Monday traded value. Naturally, traded volume and value were down on Friday levels when 17.45m shares were exchanged for Ksh 413.641m. There was a drought of shares of sorts in most sectors and so, Banking chipped in Ksh 125.5m or 49.55% to the traded value; manufacturing accounted for Ksh 68.9m or 27.2% and Safaricom, down ...

At the Ghana Stock Exchange on Monday November 19 it was a case of the more the merrier as a total of 17 listed companies recorded deals compared to 13 on Friday. The more the merrier too also translated into rally for the Composite Index at last from Friday's 2721.32 to 2736.03 although there were 7 price drops and just 3 gains. The merrier did not translate into increased volume though as traded volume came to 340,258 shares compared to 901,163 on Friday but it did result from Investors having many deals to choose from. On Friday, 3 companies closed with deals for above 100,000 units each and so accounted for bulk of trade but on Monday, none traded up to 80,000 shares each. Top trade was Ecobank Ghana's 69,400 exchanged at GHs 7.5 per share without a price change although offer price did rise slightly to close at GHs 7.6 per share. Obviously, given its heavyweight in the GCI valuation basket, MTN Ghana's gain of GHs 0.02 per share helped to drive the index upwards in spi...

NIGERIA naira USD: 306.25 GBP: 392.7044 EUR: 350.0438 YEN: 2.7101 CFA: 0.5096 YUAN: 44.1005 ZAR: 21.8777 RWANDA franc AOA: 2.818467 CAD: 664.945132 CNY: 126.058573 EUR: 997.623613 GBP: 1122.616508 JPY: 7.764352 KES: 8.489976 NGN: 2.858731 USD: 875.300384 ZAR: 62.348521 BOTSWANA pula ZAR: 1.323 EUR: 0.0826 GBP: 0.0734 CNH: 0.6532 JPY: 10.63 NAMIBIA N$ $: 14.1776 £: 18.1436 €: 16.0780 AOA: 0.0717 SOUTH AFRICA Rand USD: 13.9304 GBP: 17.9299 EUR: 15.9121 JPY: 0.1235 MADAGASCAR MGA EUR: 4127.09 USD: 3630.51 GBP: 4667.38 JPY: 32.19 CAD: 2756.76 ZAR: 259.28 CNY: 522.86 MAURITANIA Ouguiya EUR: 41.64 USD: 36.46 GBP: 46.91 CAD: 27.69 JPY: 323.43 CNY: 5.25 SENEGAL CFA EUR: 655,957 USD: 578,250 JPY: 5,105 GBP: 741,500 CAD: 439,750 CNY: 83,125 MALAWI shillings EUR: 832.2097 GBP: 936.4365 USD: 729.8804 ZAR: 52.0299 BURUNDI Franc CAD: 1366.8072 YEN: 15.9571 GBP: 2307.8961 USD: 1799.8800 EUR: 2051.5032 ZIMBABWE $7 ZAR: 14.066400 GBP: 1.282250 JPY: 112.800000 CAD: 1.316850 EUR: 1.139900 CNY: 6.944700 B...

The Nairobi Stock Exchange, as directed by the Capital Markets Authority of Kenya, has suspended trading in the shares of Deacons (East Africa) Ltd with immediate effect. According to a notice from the Exchange, the suspension was due to the appointment of joint administrators by the Board of ditectirs of the company preparatory to winding up. Deacons is quoted on the commercial and services sector of the capital market and 112,600 units of its shares was traded on November 15, 2018 at Ksh 0.45 per share of nominal value of Ksh2.50. That price was the lowest in the last one year and represents a huge drop from the highest price of Ksh 5.10 per share achieved within the same period. The suspension will remain in force for 40 working days and it brings the number of suspended equities in the market to 3. In the same sector, Atlas African Industries plc had also been suspended at last traded price of Ksh 1.05 per share of Ksh 1 nominal value. As at when it was suspended, its high and low ...

Last week ended Friday November 16, 2018 at the Nairobi stock market was very active in terms of both price discovery and trade. Most of the discovered prices though were down on previous week's levels leading to 2.11 points or 1.44% drop in the All share index to 144.90 from 147.01 on previous Friday. The week had started on a positive note with the ASI rising to 147.16 which was rather marginal but it turned out to be the last gain for week. From this it closed at 146.78 on Tuesday, then dived some to 145.90 on Wednesday and Thursday's 144.92 before the Friday slight easing. Margin of decline was bigger with British American Tobacco leading with Ksh 40 per share tumble it recorded on Thursday without any rally the next day. It was trailed by the duo of Jubilee Holdings and Williamson Tea each down Ksh 7 per share. The gainers were paced by Liberty Kenya as it closed up Ksh 5 per share on Friday after staying firm till then. On the other hand, BOC Kenya followed with Ksh 3.50 ...

RWANDA Franc AOA: 2.8181285 CAD: 655.042069 CNY: 126.690235 EUR: 992.690235 GBP: 1120.118667 JPY: 7.720972 NGN: 2.858388 USD: 875.19527 ZAR: 61.775220 SWAZILAND Lilangeni EUR: 16.0882 USD: 14.1759 GBP: 18.1592 JPY: 7.9894 BOTSWANA Pula ZAR: 1.3283 EUR: 0.0826 GBP: 0.0732 USD: 0.0937 CNH: 0.6497 JPY: 10.62 KENYA Shillings USD: 103.2072 GBP: 132.0822 ZAR: 7.2816 KES: 36.1894 JPY(100): 91.0237 EUR: 116.6411 CNY: 14.8671 CAD: 78.4190 NAMIBIA N$ $: 14.1776 £: 18.1436 €: 16.0780 AOA: 0.0717 SOUTH AFRICA Rand USD: 14.1681 GBP: 18.1734 EUR: 16.0963 JPY: 0.1251 SIERRA LEONE SLL GBP: 10,739.21 EUR: 9,516.76 GHANA Cedi USD: 4.7894 CAD: 6.1484 JPY: 0.4245 ZAR: 0.3607 EUR: 5.4572 CNY: 0.6921 COTE D'IVOIRE CFA EUR: 655,957 USD: 578,250 JPY: 5,105 GBP: 740,000 CAD: 439,250 CNY: 83,125 TANZANIA shillings USD: 227,967.83 EUR: 257,729.2 GBP: 291,729.72 KES: 2,210.05 ZAR: 16,001.89 BENIN REPUBLIC CFA EUR: 655,957 USD: 578,250 JPY: 5,105 GBP: 740,000 CAD: 439,250 CNY: 83,125 UGANDA shillings USD: 3,73...