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1 BMCE Capital Research Exchange rates, as of Monday, April 25 th, 2016 Currency CMDTY Price Day ch. Brent Crude Oil bbl ENERGY % WTI bbl % METALS Copper lb % Gold oz 1, % Silver oz % Lead t 1, % MINOR METALS Cobalt t 23, % AGRICULTURAL & LUMBER Coffee (Robusta) t Exchange rates USD EUR 1 MAD TND XOF EGP TZS MUR KES NGN GHS Commodities, as of Monday, April 25th, , % Cocoa t (GBP) 2, % Cotton t (USc) % Morocco Floating MASI (pts) 9, Daily perf % Annual perf % Floating MADEX (pts) 7, Daily perf % Annual perf. +7.3% Volume (MAD m) 59.6 Market Cap. (MAD Bn) CIH: Approval to distribute a MAD 14 DPS at the AGM of 04/20/2016, the payment is scheduled starting from 07/01/2016. Tunisia DOMESTIC DEBT: A 1.7% increase of the outstanding at the end of March 2016 amounting to MAD 479.7bn; TELECOMS: A 3.1% annual decline of the mobile base at end of March TUNINDEX (pts) 5, Daily perf % Annual perf % TUNINDEX20 (pts) 2, Daily perf % Annual perf % Volume (TND m) 3.0 Market Cap. (TND Bn) 18.6 TUNISAIR: Q financial results show a 3.1% revenues growth to M TND and a debt widening to M TND 978.5, against M TND at the same period last year. 10, , , , , , , , , , , , , , , , , , IN CASABLANCA STOCK EXCHANGE Y-O-Y Apr-15 Jul-15 Oct-15 Jan-16 MASI IN TUNIS STOCK EXCHANGE Y-O-Y TUNINDEX Apr-15 Jul-15 Oct-15 Jan-16 TUNINDEX MADEX Please refer to important legal information at the end of the document and on our website: Produced & distributed by all members of AFRICAN SECURITIES NETWORK (See last page of this report)
2 West Africa BRVM composite (pts) IN BRVM STOCK EXCHANGE Y-O-Y Daily perf % Annual perf % BRVM 10 (pts) Daily perf % Annual perf % Volume (XOF m) 1,499.8 Market Cap. (XOF Bn) 7,855.2 BRVM BRVM 10 BURKINA FASO: An 18% decline to 581,000 tons of cotton production at the end of the 2015/2016 campaign; COTE D IVOIRE: The government allocates XOF 86bn for the PHOENIX Plan dedicated to SMEs; SENEGAL: An 88.2% decrease y-o-y to 14,800 tons of groundnut production at the end of February Egypt Session of Sunday, April 24 th, 2016 IN THE EGYPTIAN EXCHANGE Y-O-Y EGX 30 Index (pts) 7, Daily perf % Annual perf % EGX 100 Price Index (pts) Daily perf % Annual perf % Volume (EGP m) Market Cap. (EGP Bn) EGX 30 EGX 100 Day off on Monday, April 25 th, 2016: Sinai Liberation Day. UNITED ARAB EMIRATE: Grants a USD 4bn help to Egypt, half destined to direct investments and the other half as deposit in Central Bank to support foreign exchange reserves. 2
3 Tanzania DSE (pts) 2, IN DAR ES SALAAM STOCK EXCHANGE Y-O-Y TANZANIA SHARE DSE Daily perf % Annual perf % Tanzania share (pts) 3, Daily perf % Annual perf % Volume (TZS m) Market Cap. (TZS Bn) 21,625.2 HELIOS TOWERS TANZANIA: Announced a USD 95m upsizing of its syndicated term loan facility, led by STANDARD BANK GROUP, in order to fund the expansion of its telecommunication towers network across the country. Mauritius Semdex Index (pts) 1, Daily perf % IN THE STOCK EXCHANGE OF MAURITIUS Y-O-Y SEMDEX Annual perf % DEMEX (pts) Daily perf % Annual perf % Volume (MUR m) 24.2 Market Cap. (MUR Bn)
4 Kenya NSE Index (pts) 4, IN NAIROBI SECURITIES EXCHANGE Y-O-Y Daily perf % Annual perf % NSE All Share Index (pts) Daily perf % Annual perf % Volume (KES m) NSE INDEX NSE ALL SHARE INDEX Market Cap. (KES Bn) 2,061.5 COMMONWEALTH DEVELOPMENT CORPORATION: Repurchased shares of the German and French institutions DEG and PROPARCO in the capital of I&M HOLDINGS, the Kenyan Banking Group. Nigeria NSE 30 Index (pts) 1, Daily perf. -0.4% Annual perf % Nigerian All-Share (pts) 24, Daily perf % Annual perf % Volume (NGN m) IN NIGERIA STOCK EXCHANGE Y-O-Y NIGERIAN ALL-SHARE NSE Market Cap. (NGN Bn) 8,518.7 UNITED CAPITAL PLC: Has announced a 59% progression of its Q profit before tax amounting to NGN 1.42bn. FEDERAL GOVERNMENT: Borrowed NGN 2.89tn from the Banking sector in the fourth quarter of
5 Ghana GSE Composite Index (pts) 1, IN GHANA STOCK EXCHANGE Y-O-Y Daily perf % Annual perf % GSE Finl Stks Index (pts) 1, Daily perf % Annual perf % Volume (GHS m) GSE COMPOSITE GSE FINL STKS INDEX Market Cap. (GHS Bn) 54.5 SANKOFA: The project that recently received a USD 700m funding from the World Bank, should be operational in February The project will produce 180 million cubic feet of gas. Rest of Africa CDC GROUP: Will support through a USD 9m loan the VIRUNGA POWER GROUP project to generate 50 MW of hydroelectric power and improve the distribution network of the surrounding communities in RD Congo. Sources Press: L Economiste, La Vie Eco, Telquel, Les Ecos, Jeune Afrique, Finance News, La Nouvelle Tribune, Aujourd hui le Maroc, Le Matin, L Opinion. Web sites: InfoMédiaire, Ministry of Finance, Info Express, Centre Marocain de Conjoncture, Le 2 minutes, Agence Eco Fin, Trésorerie Générale du Royaume, Media24, Reuters, Bloomberg, L Economiste Maghrébin, Ventures Africa, Tunisie Numérique, Tunisie News, OANDA, Fin 24, Star Africa, Investir en Tunisie, BBC News Africa, Senenews, Bourse de Casablanca, BRVM, Office des Changes, Axis Bourse, Ministère de l Energie et des Mines, CDVM, le360.ma, AfricaMoney, Ghanaweb, Allkenyanews. Softwares : Thomson Reuters, Six Financial Information. 5
6 Powered by TCPDF ( African Securities Network (ASN) is a registered trademark used for commercial purposes and for the publications by BMCE Capital and its Brokerage subsidiaries: BMCE Capital Bourse, AXIS Capital Bourse and ACTIBOURSE as well as its Research teams overseen by BMCE Capital Research in Casablanca. Headquarters: Tour BMCE, Rond-Point Hassan II, Casablanca - Morocco Phone: Fax: Casablanca trade register No License No. 3/26 by the approval of the Ministry of Finance Contact information: Mr. Mohamed BENJELLOUN Trader Phone: / m.benjelloun@bmcek.co.ma Disclaimer Headquarters: Tour BMCE, Rond-Point Hassan II, Casablanca - Morocco Offices: 63, Boulevard Moulay Youssef, Casablanca Morocco Phone: Fax: Casablanca trade register No Published in accordance with current procedures, this document was prepared by BMCE Capital Research and integrates the contribution of AXIS Capital Bourse as well as ACTIBOURSE, African affiliates of BMCE Capital. The content of this document comes from various reliable written sources but, in the event of damage resulting from the use of this information, is not binding on BMCE Capital Research, nor on BMCE Capital and nor on BMCE Capital Bourse, including in the case of lack of due care or negligence. BMCE Capital Research has established an organizational structure and procedures (or Chinese wall) designed to guarantee the independence of the financial analysts and the priority of customers interests. A black-out period is stipulated, running from the date of the beginning of drafting of the research memorandum until 3 months after its publication, during which time the financial analysts refrain from trading on their own account in shares in relation with the issuers and sectors they are monitoring. The information contained in this document and any opinion expressed in it do not under any circumstances encourage investment in the financial markets in general and in the Stock Exchange in particular. It is only given for information purposes and cannot be considered in any way as advice. In particular, any revenue from securities referred to in this analysis may fluctuate and the prices of securities may rise or fall. Investors may thus get back less than their initial investment and past performance is no guide to future performance. Currency exchange rates can have a negative effect on the value, price or revenues of the securities mentioned in this document. In addition, foreign investors who hold securities assume a foreign currency risk. This document was drawn up for clients and prospects of BMCE Capital and BMCE Capital Bourse. This document is intended for investors aware of the risks related to financial markets. If any individual should come into possession of this document, they should not make any investment decision solely on the basis of this document and should consult their own advisors. Investors should seek financial advice to ensure that the investment strategies examined or recommended in this document are appropriate and should understand that the opinions on the future prospects may not materialize. BMCE Capital Research, BMCE Capital and BMCE Capital Bourse individually and jointly decline any responsibility in terms of this document and give no guarantee as to the achievement of the targets and recommendations given herein, nor the accuracy or dependability of the information it contains. The information and explanations reproduced herein and the content are the exclusive property of BMCE Capital Research. It is strictly forbidden to copy, modify, reproduce, re-publish, distribute, display or pass on the content to an entity established under private law or public law, for profit or non-profit purposes, irrespective of the medium or means of communication and the good or bad faith of the entity performing any of the above-mentioned actions. The content is for individual, strictly personal use. It may not be used for any commercial purpose or end. There are no exceptions to these rules unless the entity duly considered to be the owner of the intellectual property rights of this content (BMCE Capital Research) so agrees. Any breach of these rules exposes the entity responsible for the breach to the relevant penal sanctions and the legal action necessary for the restoration of the rights of the authors and their compensation. Any disputes concerning these rules shall come under the jurisdiction of the courts of Casablanca. BMCE Capital Avenue Hassan II Phone : Fax :
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