BMCE Capital Research Exchange rates, as of Tuesday, June 21 st, 2016 Currency Exchange rates USD EUR 1 MAD 0.10289 0.09164 1 TND 0.46152 0.41107 1 XOF 0.00171 0.00152 1 EGP 0.11265 0.10033 1 TZS 0.00046 0.00041 1 MUR 0.02816 0.02508 1 KES 0.00988 0.00880 1 NGN 0.00502 0.00447 1 GHS 0.25653 0.22848 Morocco Floating MASI (pts) 9,632.82 Daily perf. +0.33 % Annual perf. +7.92% Floating MADEX (pts) 7,867.84 Daily perf. +0.38% Annual perf. +8.44% Volume (MAD m) 34.9 Market Cap. (MAD Bn) 483.6 SAMIR: Six-month extension for the refinery judicial liquidation, according to the business press; SANOFI: Visa by the Market Regulator of the information notice related to the capital increase reserved for employees. MARITIME TRAFFIC: Cadix port authorities may be looking for a ship-owner to ensure maritime connections to Morocco. Tunisia 10,500.00 10,300.00 10,100.00 9,900.00 9,700.00 9,500.00 9,300.00 9,100.00 8,900.00 8,700.00 8,500.00 IN CASABLANCA STOCK EXCHANGE Y-O-Y MASI Jun-15 Sep-15 Dec-15 Mar-16 MADEX 8556 8356 8156 7956 7756 7556 7356 7156 6956 Commodities, as of Tuesday, June 21 st, 2016 CMDTY Price Day ch. Brent Crude Oil bbl ENERGY 48.67 +2.83% WTI bbl 47.98 +3.83% METALS Copper lb 2.05 +0.0% Gold oz 1,281.70-0.98% Silver oz 17.40-1.53% Lead t 1,707.00 +1.46% MINOR METALS Cobalt t 23,850.0 +0.19% AGRICULTURAL & LUMBER Coffee (Robusta) t 1,645.00 +1.98% Cocoa t (GBP) 2,286.00-0.44% Cotton t (USc) 64.57 +2.22% TUNINDEX (pts) 5,422.08 Daily perf. +0.04% Annual perf. +7.53% TUNINDEX20 (pts) 2,270.90 Daily perf. -0.01% Annual perf. +7.44% Volume (TND m) 5.2 Market Cap. (TND Bn) 19.0 6,000.00 5,800.00 5,600.00 5,400.00 5,200.00 5,000.00 4,800.00 4,600.00 4,400.00 IN TUNIS STOCK EXCHANGE Y-O-Y TUNINDEX Jun-15 Sep-15 Dec-15 Mar-16 TUNINDEX20 FOREIGN TRADE: A TND 307m deficit in the food trade balance at the end of May 2016 against a surplus of TND 183.2m a year earlier; INDUSTRIAL INVESTMENTS: A 21% increase in investments reported at the end of May 2016 to TND 1,429.6m. 2534 2434 2334 2234 2134 2034 1934 1834 Please refer to important legal information at the end of the document and on our website: http://www.bmcecapitalbourse.com Produced & distributed by all members of AFRICAN SECURITIES NETWORK (See last page of this report)
West Africa BRVM composite (pts) 311.00 IN BRVM STOCK EXCHANGE Y-O-Y Daily perf. +0.38% Annual perf. +2.33% BRVM 10 (pts) 269.95 Daily perf. +0.47% Annual perf. -7.04% Volume (XOF m) 2,374.6 BRVM BRVM 10 Market Cap. (XOF Bn) 7,668.2 PERSEUS MINING: Upcoming fund raising of a total amount of USD 76m for financing its SISSINGUE and YAOURE projects in Côte d Ivoire; MERIDIAM: Upcoming construction of a 21 megawatts solar plant for a EUR 40m investment budget in the north of Dakar in partnership with the constructor EIFFAGE; MICROCRED: The Company has been granted a USD 12m funding by MASTERCARD FOUNDATION for launching a financial inclusion program in Côte d Ivoire, Senegal and Madagascar; NOUVELLE SOCIETE SUCRIERE DE LA COMOE: The Ivorian State may sell its shares in BURKINA FASO main sugar Company; WEST AFRICAN DEVELOPMENT BANK: Approval of 11 mid and long-term loans for a total amount of XOF 59.6bn. SENEGAL: The country s economic growth is expected to average 6.6% over the 2016-2019 period, according to STANDARD & POOR S; BURKINA FASO:,; COTE D IVOIRE: A XOF 800bn investment destined to the main country s ports in the wake of 2016-2020 National Development plan. Egypt IN THE EGYPTIAN EXCHANGE Y-O-Y EGX 30 Index (pts) 7,250.92 Daily perf. +0.66% Annual perf. +3.5% EGX 100 Price Index (pts) 749.58 Daily perf. -0.14% Annual perf. -5.18% Volume (EGP m) 504.9 Market Cap. (EGP Bn) 392.5 EGX 30 EGX 100 BANK MISR: The Bank has been granted a USD 105m Murabaha financing facility from three banks from United Arab Emirates. 2
Tanzania DSE (pts) 2,413.92 IN DAR ES SALAAM STOCK EXCHANGE Y-O-Y TANZANIA SHARE DSE Daily perf. +0.08% Annual perf. +3.43% Tanzania share (pts) 3,749.23 Daily perf. -0.62% Annual perf. -16.28% Volume (TZS m) 12,332.8 Market Cap. (TZS Bn) 21,136.5 CRDB BANK: A 20% rise in CRDB TEMBO CARD transactions number to 193,604 on May 2016. TAX: The Government will introduce an 18% Value Added Tax on tourism services. Mauritius Semdex Index (pts) 1,747.14 Daily perf. +0.03% IN THE STOCK EXCHANGE OF MAURITIUS Y-O-Y SEMDEX Annual perf. -3.53% DEMEX (pts) 194.20 Daily perf. +0.33% Annual perf. -2.58% Volume (MUR m) 57.0 Market Cap. (MUR Bn) 243.0 TOURISM: The industry is expected to grow by 6.4% in 2016 vs. 8.5% in 2015. 3
Kenya NSE Index (pts) 3,775.09 IN NAIROBI SECURITIES EXCHANGE Y-O-Y Daily perf. +0.21% Annual perf. -6.57% NSE All Share Index (pts) 146.37 Daily perf. -0.62% Annual perf. +0.46% Volume (KES m) 1,281.0 NSE INDEX NSE ALL SHARE INDEX Market Cap. (KES Bn) 2,076.8 KENYA AIRWAYS: Five companies expressed their interest in the purchase of a majority ownership in the Kenyan Company, of which QATAR AIRWAYS, ETIHAD AIRLINES, OMAN AIR and OMNI AIR. MONETARY POLICY: The Central Bank of Kenya holds the key rate unchanged. Nigeria NSE 30 Index (pts) 1,306.94 IN NIGERIA STOCK EXCHANGE Y-O-Y NIGERIAN ALL-SHARE NSE Daily perf. +2.41% Annual perf. +1.5% Nigerian All-Share (pts) 29,422.71 Daily perf. +2.27% Annual perf. +2.72% Volume (NGN m) 6,789.0 Market Cap. (NGN Bn) 10,105.2 OIL: The country s earnings from crude oil and gas, Petroleum Profit Tax and Royalties, declined by 34.1% to NGN 205.1bn in Q1 2016; DEBT: The Government plans to increase external borrowing to 40% as part of its new debt management strategy over the next four years. 4
Ghana GSE Composite Index (pts) 1,772.12 IN GHANA STOCK EXCHANGE Y-O-Y Daily perf. +0.04% Annual perf. -11.17% GSE Finl Stks Index (pts) 1,657.66 Daily perf. +0.08% Annual perf. -14.11% Volume (GHS m) 191.2 GSE COMPOSITE GSE FINL STKS INDEX Market Cap. (GHS Bn) 54.3 AMANANO RURAL BANK: The Bank has opened its sixth branch in Abuakwa. E-COMMERCE: Launch of UTRADIA, a media application specifically designed for businesses to showcase their products and services for free to their potential clients in Ghana and beyond, and to help small scale businesses. Rest of Africa ALGERIA: The country s trade balance displays a USD 9.8bn deficit at the end of May 2016. 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, dailynews.co.tz, lemauricien.com. Softwares : Thomson Reuters, Six Financial Information. 5
Powered by TCPDF (www.tcpdf.org) 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: 63, Boulevard Moulay Youssef, Casablanca 20 000 Morocco Phone: 00 212 5 22 64 23 00 Fax: 00 212 522 48 10 07 / 00 212 5 22 48 09 52 Casablanca trade register No. 77971 License No. 3/26 by the approval of the Ministry of Finance Contact information: Mr. Mohamed BENJELLOUN Trader Phone: 00 212 522 49 29 47 / 00 2125 22 49 81 12 E-mail: m.benjelloun@bmcek.co.ma Disclaimer Headquarters: Tour BMCE, Rond-Point Hassan II, Casablanca - Morocco Offices: 63, Boulevard Moulay Youssef, Casablanca 20 000 Morocco Phone: 00 212 522 49 89 76 - Fax: 00 212 522 27 38 26 Casablanca trade register No. 128905 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 : +212 522 49 81 01 Fax : +212 522 48 10 07