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Fast Track Forward to
Trades & Movements by Sector Theme of the Week
Melvyn Chung Kai To AXYS Stockbroking Ltd, 6th Floor, Dias Pier Building, Le Caudan Waterfront, Caudan, Port-Louis, 11307Bhavik Desai Tel (230) 405 4000 | Email [email protected] | www.axysstockbroking.com | BRN C07007948
Ratio
58.0
9.8
Weekly Prices:
Currency
ENLL
Corporate Bonds
News Snippets
[%]
445.2
Fund NAVs
BoM Interventions
Foreign Participation
14.90
Earnings:
CIEL-7.3
[bps]
20.7
FIN — CONS
Pref SharesMarket Indices
Weekly Insight24-Jun-2016
Equity Equity
28.00 4.9
OMNI
26.75ALTEO
8.1
[%]Share
Turnover
▲ALEX-20
[Rs]
0.19%
Leaders
1.69
5.6
USD/MUR36.52
ROGE
0.03
-2.3
GOLI -8.0
Fixed Income
LOTO
877.98▲
66.50NGLD
Forex Mkt Watch
MFD13.7
BMHL4.21
-2.6
0.22
10.20
Laggers
37.3
Sov./Interbank Rates
Latest
4.9
Δ WoW
0.61%
50.0
ABC-6.0 ABCB
2.87
Most Active
Mauritian equities were buoyant with indicespeaking at 5Wk-Highs until UK’s referendum.
The world awoke shell-shocked to find outthat the British had voted in favour of leaving the European Union.
The resulting uncertainty and chaos pushedvolatility in markets to levels not seen in years.
A global bloodbath ensued with turbulencepoised to persist.
10.0
COND — INVH
ABCB1,708.8 MCBCMBI
Share of TMT
Spot Rates
CIEL
BEEP
Δ WoWLatest
451.00
Mkt Summary
▲
58.7[Rs M]
0.17
1Yr T-Bill
26.10
UTIN38.70
Value
14.6
6.3%
COND — INVHPrices & Spot Rates
[Rs]
FIN — CONS
WoW Movements
SBM
CTL
Mkt Comm/Divs
ETFs/Commodities
865
895
925
955
985
Inde
x [p
ts]
-4.5
-3.0
-1.5
0.0
Δ% in
USD
/MU
R si
nce
31-M
ar-1
5
1.00
1.75
2.50
3.25
4.00
1Yr-
GM
TB [%
]
62%10%
9%
7%5%
7% FIN
DEBT
MSCH
INVH
T&L
Others -0.4 -0.7
4.2
1.9
0.6
FIN DEBT MSCH INVH T&L
WoW
Chn
age
[%]
1
Market Indices
MC [Rs bn] ▲ ▲
Δ MC [%] ▲ ▲TO [Rs M] ▼ ▼FP [%] ▼ ▼NFP [Rs M] ▼ ▼PER [x] ▲ ▲DY [%] ▼ ▲PBV [x] ▲ ▲ROE [%] ▼ ▬
L HALCAPEX-12 ▼ALEX-20 ▲SEMSI ▲SEMDEX ▲S&P Pan Africa* ▲MSCI Frontier* ▼MSCI World* ▲S&P 500* ▲ESTX Eur 50* ▲FTSE 100* ▲Nikkei 225 ▲MSCI Emerging* ▲S&P Asia 50* ▲Sensex* ▲
Foreign Participation
Melvyn Chung Kai To AXYS Stockbroking Ltd, 6th Floor, Dias Pier Building, Le Caudan Waterfront, Caudan, Port-Louis, 11307Bhavik Desai Tel (230) 405 4000 | Email [email protected] | www.axysstockbroking.com | BRN C07007948
3.5%
1,691.76
5.6%
-7.4%7.75%
15,434 -21.8%6.51%
-7.6% 4.4
0.4
13.8
40.4
5.9
2.3%0.81
26,525
1.38
2,113.32
2.817.8
13.8
As at
2,077.99
PER1,259.99
PBV
10.7
5.9
3,037.86
16,238
All SEM
-35.2
164.4
24-Jun-2016
10.8
-1.6% -10.6%
1,756.090.98
0.82
96.7
-0.8% -13.6%
877.98
110.1
24-Jun
3.53
1.70%
1,264.03 80.6
101.4
7.33%
2.1%15.4
1 Wk YTDVal
-43.7
0.3
Indices
250.8
Weekly Insight
0.81
‒ 52Wk ‒
Liquid 20
Change 24-Jun-16
Key:MC = Mkt Cap.; Δ MC = Change in Mkt Cap,; TO =Turnover; FP = Foreign Participation; NFP = Net ForeignPurchases; PER = Price-Earnings Ratio; DY = Div. Yield;PBV = Price-Book (Net Asset Value) Ratio; ROE = Returnon Equity.
27.9208.7
3.24
876.29 13.896.7
3.110.7
13.5%
YoY-0.32% -6.1%
2.21.46799.78
1.432.16
27,002
6,338.10
99.34 -3.7%
20.22.83
513.8821.4
-16.0%
3.7
0.9%
-15.9%19.6
1.23
2.2
-2.6%
0.2%
5,950.48
2.4%
2.81
-14.7%
1.262,819.30
3,269.944.46%
DY
-5.3%
0.15%-3.0%
4.3
1.0% 1.71
-2.77%3.91%
0.19%
0.63%
3.5
1,628.13
140.37
99.19
17-Jun
1,745.12
* Previous day's closing prices
Net FlowsActivity Spread
-14.6%
45.3
3.11.5
835.435.21%
-15.9%
499.66150.66
14.7
-11.6%
2.7
4.0%
0.83
Week Ended
3,382.5519.5
3.44%1.80%
4.6
-12
-4
8 1
-34
MCB CIEL MUA09/24
ENLL SBM
Net
For
eign
pur
chas
es [R
s m]
85
100
115
130
Indi
ces
reba
sed
to 1
00 o
n 3
1-M
ar-2
013
SEM-SI MSCI FM ALEX-20 ALCAPEX-12
61%13%
8%
8%5% 5%
FIN
INVH
MSCH
DEBT
T&L
2
Weekly Insight 24-Jun-2016
Melvyn Chung Kai To AXYS Stockbroking Ltd, 6th Floor, Dias Pier Building, Le Caudan Waterfront, Caudan, Port-Louis, 11307 Bhavik Desai Tel (230) 213 3475 | Email [email protected] | www.axysstockbroking.com | BRN C07007947
Summary & Highlights Shell-Shocked! Mauritian equities were buoyant with indices peaking at 5Wk-Highs until UK’s referendum. Then, the world awoke shell-shocked to find out that the British had voted in favour of leaving the European Union. The resulting uncertainty and chaos pushed volatility in markets to levels not seen in years. Friday was a bloodbath across the globe and with a headless UK, turbulence is poised to persist. On a weekly basis, TMT stood at Rs209M with a foreign participation of 28%. ALCAPEX 12 slid to 1,259.99pts (-0.3%) while ALEX 20 and SEMDEX edged up to 877.98pts (+0.2%) and 1,756.09pts (+0.6%).
Financials Foreign selling pressure on blue-chip banks drove them into negative territory: MCB shed Rs1 to Rs212 [28% of TMT; NFS Rs34M] and SBM 1ct to 64cts. Tuesday’s session was marked by three off-the-board domestic crosses totaling 3.1M shares in ABCB at Rs17 (-5.6%) – i.e. 4.1% of total shareholding. However, the stock traded at a flat Rs18 (±0%) on the main board. NBFI counters recovered from recent lows: CIM to Rs6.84 (+3.3%), FINC to Rs18.70 (+1.1%). Insurer MUA was appreciably traded at Rs63 (+1.6%) while SWAN pursued its slide to near 2Yr-Low Rs303 (-1.0%).
Travel& Leisure Hoteliers, who experienced investor inflows throughout the week, experienced reversals on Friday following the UK’s vote to leave which may affect tourist arrivals and receipts. NMHL which traded at VWAP Rs20.46 (+0.3%) closed unaltered at Rs20.40, LUX dropped to Rs57.25 (-2.1%) and SUN which peaked at 5Wk-High Rs34 (+1.5%) intra-week, closed at Rs33.75 (+0.7%). MK and LOTO remained volatile closing at respective Rs12.50 (-1.6%) and Rs4.21 (-2.3%) respectively.
Multi-Sector Conglomerate/Holding UTIN was the only MSCH to closed in the red. Having renewed with momentum, surging to 14Wk-High Rs12.60 (+14.5%) on market buy-outs during the week, UTIN plunged to Rs10.20 (-7.3%) on slim exchanges as a
consequence of the wide bid/ask spread. EUDC – which maintained its dividend – was highly traded at a flat Rs15. Climbers inlude: OMNI at 5Wk-High Rs66.50 (+8.1%), ALTEO at 7Wk-High Rs26.75 (+4.9%), ROGE – seemingly boosted by its improved final div – at 3Mth-High Rs28 (+4.9%), MEDL at Rs57.75 (+0.9%), TERRA at 4Wk-High Rs29.50 (+0.9%) and IBL at Rs125 (+0.8%).
Consumer Staples | Discretionary Consumer stocks experienced mixed fates. PBL improved to 4½Mth-High Rs365 (+2.4%) while parent company PHIN slid to Rs220 (-0.9%). MOR picked up 15cts to Rs26, VEM 50cts to 5Mth-High Rs97, ENLC Rs1.50 to Rs13.50 while CTL shed 45cts on its Ex-Div. Ref. Price to Rs38.70. FAIL Group companies LFL and LMLC jumped to respective 5Wk-High Rs25.75 (+3.0%) and fresh Record High Rs192 (+3.8%). Property │ Materials │ Industrials On slim vols, property companies BLFE and APL improved to respective Rs2.10 (+2.4%) and Rs10.10 (+1.0%). UBP remained appreciably traded at Rs80 (±0%). MFD registered large crosses at Rs9.98 (+0.4) but closed at 6Wk-High Rs10.25 (+3.1%).
Investment Holdings Foreign investors continued to provide resistance on CIEL at Rs6.20 (+1.0%), which finished the week a tick lower. Other movers included: ENL(P) – in line with subsidiaries – at Rs24.75 (+3.1%), MDIT at Rs3.95 (+1.8%), POLI at Rs5.40 (+0.7%), BMHL at Rs26.10 (-2.6%) and BEEP at 6Wk-Low Rs14.90 (-8.0%).
Fixed Income │ETFs Foreign investors sold some 450k NMHL(P) shares at DY 6% (+16bps). On the debt market, Rs3M worth of MCB 08/23 [R+1.35%] changed hands at an average YTM 5.22% (+28bps) and Rs1.2M of MUA 09/24 [R+1.85%] at YTM 5.39% (+24bps). Like elsewhere, we witnessed local investors flock to safe havens like Gold: 10k NGLD units traded at Rs451 (+5.6%) per centi-t.oz, i.e. its highest in nearly 2Yrs.
3
Market Announcements
News Snippets
http://www.bbc.com/news/business-36636853
Dividend Declarations
COMPANY
ASCE(P) ▲INNO ▬ROGE ▲EUDC ▬MEDL ▲NOVUS ▲ALTEO ▬RHT ▬FINC ▬MCB ▲
Melvyn Chung Kai To AXYS Stockbroking Ltd, 6th Floor, Dias Pier Building, Le Caudan Waterfront, Caudan, Port-Louis, 11307Bhavik Desai Tel (230) 405 4000 | Email [email protected] | www.axysstockbroking.com | BRN C07007948
Bharat Telecom Ltd (BTEL)The board advised its re-organisation was purely from an economic perspective that leaded to various key activities outsourcing andautomated several tasks. These re-structuration resulted in a lay off 30% of its workforce that were conducted in accordance withprevailing relevant legislations.
Rockcastle Global Real Estate Co Ltd (ROCK)ROCK’s board advised the company is pursuing its negotiations about material property acquisitions that could potentially impact its shareprice. It has already concluded two acquisitions, namely Forum Liberec Shopping Centre (Czech Republic) and Platan Shopping Centre(Poland).
4.00 3.75 6.7% 24-Jun-16 12-Jul-16 29-Jul-16 Int 2
0.45 0.45 0.0% 23-Jun-16 11-Jul-16 20-Jul-16 Fin 20.55 0.55 0.0% 23-Jun-16 11-Jul-16 17-Aug-16 Fin 20.60 0.60 0.0% 24-Jun-16 12-Jul-16 28-Jul-16 Fin 1
Fin 20.80 0.60 33.3% 22-Jun-16 11-Jul-16 15-Sep-16 Fin 20.27 0.24 12.5% 23-Jun-16 11-Jul-16 26-Jul-16 Fin 2
At first glance, the numbers suggest that the impact of Brexit on the Mauritian economy – if any – will be small as we do not anticipatechanges in access to the UK market for Mauritian enterprises. The immediate impact will be felt at micro-level by UK-dependent exportersand hoteliers following the GBP’s plunge to 30Yr-Low. Please see the preliminary impact analysis we sent to you on Friday for moredetails.
The pound has fallen further in trading in Asia on Monday, adding to Friday's record one-day decline. Sterling was trading at about $1.34,down 2.6% from Friday's close. Against the euro it was trading at €1.2145, down 1.4%. On Friday the pound had its biggest one-day fallagainst the dollar, at one stage sinking as low as $1.3236. Chancellor George Osborne said the UK was ready to face the future "from aposition of strength". He also indicated there would be no immediate emergency Budget. Mr Osborne said there would still need to be an"adjustment" in the UK economy, but added it was "perfectly sensible to wait for a new prime minister" before taking any such action. OnSunday night Christine Lagarde, head of the International Monetary Fund, said that the UK's vote to leave the European Union had caughtthe financial markets by surprise. But despite that, there had been "no panic" and the markets were "under control". Stock marketsplunged on Friday, with more than $2tn (£1.5tn) wiped off the value of global stock markets, according to Standard and Poor's Dow JonesIndices. That was the biggest one-day loss in market value - even greater than the value wiped out following the collapse of LehmanBrothers during the 2008 financial crisis, Standard and Poor's calculated. The chancellor's statement on Monday comes amid forecasts offurther falls for the pound. Jeremy Cook, chief economist at World First, said: "We are still looking for another 10% fall for the poundagainst the dollar in the coming months as data confirms the economic slowdown and monetary policy expectations increase."
Weekly Insight
PropertiesFreq. p.a.
24-Jun-2016
ChangeTypePrevious Ex-Div.Current
Dividend
Fin0.45
0.54 3.7%
30-Jun-1616-May-16 28-Jun-16
0.40 0.40 0.0% 22-Jun-16 11-Jul-16 15-Sep-16
— N/A 20-Jun-16 05-Jul-16 25-Aug-16
0.56
Pay DateDiv/Div DeclarationKey Dates
11-Jul-16 29-Jul-16 Fin 21.00 1.00 0.0%
1Fin 2
21-Jun-16
4
Stock Movements — FIN, T&L, MSCH, & CONS
MCB ▼SBM ▼ABCB ▬CIM ▲FINC ▲MEI ▬MUA ▲SWAN ▼SWANL ▬CMBI ▬NMHL ▬LUX ▼SUN ▲CHSL ▬HTLS ▬TPL ▬SCT ▬MOLI ▬MK ▼LOTO ▼ASL ▬ALTEO ▲TERRA ▲OMNI ▲MEDL ▲IBL ▲ROGE ▲ENLL ▬HML ▬GAMMA ▲EUDC ▬UTIN ▼INNO ▬MOR ▲PBL ▲PHIN ▼QBL ▬UNSE ▬CSE ▬LFL ▲LMLC ▲MIL ▬SAIL ▬MCOS ▬GOLI ▲CMPL ▬
Melvyn Chung Kai To AXYS Stockbroking Ltd, 6th Floor, Dias Pier Building, Le Caudan Waterfront, Caudan, Port-Louis, 11307Bhavik Desai Tel (230) 405 4000 | Email [email protected] | www.axysstockbroking.com | BRN C07007948
—8.50
4.0
4.2
0.30.0%
—
9.7-5.9%
0.4—
19.5—
1.8
1.0
1.9
0.8%
8.50 -52.8%-45.0%
8.75.4
31.5% 8.1
4.2
82.22.4—
—
9.8
— 23.7
—
4.73.2
0.81.5
0.5
0.84.9
7.3
0.9
2.2
2.9
0.0
2.6
15.7
-15.1%
—
25.90
4.6
— 0.2
4.9-6.0%
4.0
177.6
20.3
8.9
1.7
-17.7%
2.0
-12%2.2
23.5
11.2
0.7
54.6
3.7
3.1
1930.9
1.9
0.10.7
139
-22.5%0.3
30.5
1.2
11.0
—
5.014.4
17.5
-4.7%
39.75
17.6
124.50
-10.2%
57.25
— -21.1%
12.05
0.2
57.25
10.19.8
-5.3%
83.50
5.7—
2.3%
8.80.8
2.6
-14.8%
-13%
58.6
2.0
0.0
8.7
9.47.1
0.7
0.82.2
7.2
8.022.80
3.0
10.60.6
—
3.8
58.004.31
-13.0%
3.9 1.2
5.9
-3.8%
—
0.4
9.4%
0.5
—
-9.5%-10.1%62.00
0.5
529
-6%
0.3
-20.5%
0.1
2.3
1.1
0.6
—
5.0
—
8.01.5
0.714.7
0.76.0
—
15.4
—
-9.1% 15.536.9
1.2
1,415
0.3
0.8
3.1
—
—
-21.5%
DY3.9
Change
2.9%
3.2 0.5
PBV
12.9%N/A 0.9
3.9
1.6
1.113.5
1.3
6.66
3.7
—
1.5
0.0%—
1.3
— 0.0%
20.2%2.9
0.3
-16.7%
-3.8%
24618.55
-27.8%
—
—
2.0
0.0
1.6
-15.8%
-24.2%2.0
10.128.4
0105
2.9
-11.1%
1.863.00
0.65
62.00
5.0%
24-Jun-16
-16.3%
16.4
-6.9%11.7
4.0
4.758.0
-7.0%
0.7
0.30.1
0.2
—
8.66.62
-27.9%1,050
7.9
0.4
10.7
1.3ROE
22.81.4
1.010.8
-29.7%
—
12.4
—
0.70.6
0.65
10.20
15.1
-11.2%0.5
0.5
1.7
3.8
125.00
58.00
0.14.4
98.00-40.0%
13.6%
365.00-6.4%
0.2
55.50
22.7%
—
Cons
umer
Sta
ples
192.00
55.50
-2.8%
25.00
0.0%188.75
—20.10
0.0%
-6.5%
30.00
—
10.0
12.3%
—
0.5%923.00
22.90 13.223.00
19.1-19.0%
32.00
61.50
-8.8%
11.00
-5.3%
27.75
7.50
3.2%
28.00
13.6%
-9.9%
39.75
66.50
-25.0%
0.3
5.60
12.1
0.0
1.7
222.00364.50
25.850.2
-28.6%
81.8%
5.00
31.80 15.2
5.00
9.6%0.0
—
40.00
1.4%
220.00
0.03
30.00
4.0%0.1
0.0% 18.0—
356.50
0.02
M.S
ecto
r Con
glom
erat
e/Ho
ldin
g
1.4%
25.5026.75
20.10
25.75185.00
0.0
4.21
29.50
—
220.00
-0.8%
923.00
26.00
7.50
25.75
—
98.00
39.50
29.50
60.00 71.4%
—
0.198.00
19.6%
124.002%
15.00-11.5%0.1
0.8 3.5%
40.00
15.00
20.4
26.70
57.75 2.4-5.0%
0.03
-2.0%
—
39.75
2.929.25
15.00
83.50
17.9%0.5
4.5
0.0%—
0.4
26.00
Week Ended
24-Jun-2016
58.7213.00
24-Jun
212.50
— 0.0%5.005.60
60.00
0.0
00
41.80
32.80
12.70
303.75
-1.0%
12.50
20.40
-2.8%
83.75
0.0
6.84
0.64
17.2%
12.504.27
20.45
18.50
58.50
N/A-9.9%
-14.1%
32.00
41.80
-1.4%
1,050
-16.2%
—
57.25
5.60
-10.3%33.7033.50
20.40
33.7532.80
2.6
VWAP
Weekly Insight
PER
83.7534.4
18.00 7.09.3
17.10
17-Jun
212.00 1.8%
Fina
ncia
l
Security
1,050306.00
63.00
18.70
0.0
18.00
303.00
Trav
el &
Lei
sure
Val. YTD YoYL ‒ 52Wk ‒ H15.28.4
9.8
3.3%
As at
4.5
5
Stock Movements — COND, PROP, GBL1, MAT, IND, ENGY, HLTH, COMM & INVH
CTL ▼VEM ▲ENLC ▲ABC ▲RHT ▬UBS ▬ACC ▬MSIL ▬ASCE ▬ASCE(B) ▬BLFE ▲CAUD ▬CIMO ▬NOVUS ▬APL ▲COVI ▬UTDL ▬ROCK ▬SAREF ▬ALPL ▬DELP ▬GFP ▬MLND ▬NFPL ▬STBR ▬TADV ▬UBP ▬MCFI ▬CHEM ▬BYCH ▬GAZ ▬PIM ▬PCCL ▬MFD ▲FORT ▬
Eng
SHUMBA ▬
Hlth MASC ▬
Com
BTEL ▬CIEL ▲MDIT ▲POLI ▲NITL ▬PAD ▬BMHL ▼ENL(P) ▲BEEP ▼ASTO ▬DALE ▬
Melvyn Chung Kai To AXYS Stockbroking Ltd, 6th Floor, Dias Pier Building, Le Caudan Waterfront, Caudan, Port-Louis, 11307Bhavik Desai Tel (230) 405 4000 | Email [email protected] | www.axysstockbroking.com | BRN C07007948
0.7
-1.0%
70.00 — 2.0
0.5
2.17.5
26.100.6
5.40
—
0.1
4.0
16.10
—N/A
5.5108.1%
13.6
—
24.75
-85.4%
0.1
4.6
7.1
—
23.8
—
1.023.6
6.8
0.0%
16.2
—
—
0.0
-19.0% -8.6% 0.3
5.5
0.1
-2.4%
0.0
5.1
3.8
—
1.1
1.1
—
1.1
1.4
—
-14.8%
—
—
1.5
3.8
——
—
1.2
14.1
6.7%-1.0%
3.6%3.7
5.5%
12.00
—
2.5
4.0
3.3
2.7
—
15.6
0.6
16.2
5.6 0.9
-0.5%-5.2%
9.538.70
10.10
Change
0.0%
0.0%
-43.1%
15.0
-23.5%-2.0%
16.3
2.0
0.90
1.7
1.01.8
0.3
— 1.0
-8.1%
—
-2.8%2.05
0.4
-3.6%
0.3
5.0%
—
1.8
-11.2%
4.55.4
—
0.1
ROE
0.3—
0.9
—
39.5
-55.3%—
7.218.9
3.9
8.0
-11.5%
PERYoY
0.9
0.6
-14.7%
10.47.9
—
—
—
0.4
3.8
—
1.0
5.4
0.3
0.5
N/A
3.2
5.7
2.7
866
—
—
1
5.892
0.8
0.0% — —
4.3
2.1
-8.8%
9.98
—
-0.6%
—
2.7%
—
26.15 1.720.5
14.90
0.4%
3.8
5.0
0.6
36.6 2.0
0.7
25.8
7.7
0.5 3.515.7
37.25.8
4.3
27.1
2.10
2.60.5
6.0%
—
0.80.2
1.0016.20
89.50 0.60.8
1.0 6.1
0.6
— -8.3% -18.9%
— 0.0% N/A— 0.0% 13.8% —
—
Inve
stm
ent H
oldi
ng 2.9
5.0
-15.1%
3.2
6.142.8
6.18
58.9-16.9%
75.5-5.8%6.1%
2.80
15.20
13.7
0.5
0.3
5.36-16.5%
0.3
0.026.80
0.3
22.33.91
17.0-25.8%
0.5
—
—
—
34.6
1.00
24.75
89.50
— — 2.80 —
3.0
-1.6%33.00 33.00
3.950.1
-26.9% 1.1
— —
5.38
2.61.0
6.012.7
3.1
1.3
3.1
597.9
— 2.20
33.00
0.7
-8.3%— —
6.5
—
-13.9%3.88
89.50
24.00
60.00
—
1.1
-4.3%
0.6
-25.0%
0.4
5.9%12.8
0.8
0.0%
14.7-33.3%
50.00
—9.94
—
7.5015.4
——
—
9.3-12.4%
—
-14.5%
15.53.1
— 3.2
148.00
2.20
— 6.20 -6.4%
50.00
0.10
7.50
148.000.10
-11.8%
—
0.0% 0.0%
2.4—
16.45-26.8%
—
53.4%
2.92.0
0.7
N/A
1.23
-14.3%
26.50
—-9.1%
—31.60
0.0% N/A
80.00
1.00
DY
4.08.4
24-Jun-16PBV
0.6 16.0
As at
0.0%
96.75
Val.
— -57.8%
13.50
10.10
1.74
-3.0%
5.00
0.065.0
4.18
-28.2%16.45
—
5.8%
636
-5.4%
—
1.8%17-Jun YTDVWAP
2.8
6.5
——
8.5
—
24-Jun-2016
SecurityL ‒ 52Wk ‒ H
16.450.3
—
0.0%-5.9%80.0080.00
0.90
12.35
—
0.6%
60.75
—
13.70
153.0015.6%
—
1.16
—
31.00
444.25
31.60 0.0
—
60.75
—
2.26
37.35
—
1.23
13.30 -35.3%
41.15
—
-26.4%
—
12.3512.00
—
2.021.7%
60.75—6.00
10.00
—
0.1
8.00
Indu
str
0.0%
-10.8%
6.3%
-38.0%-15.7%
—
16.10
444.25
—
37.35
Mat
eria
ls
—
4.18
1.20
GBL
1 Pr
oper
ty
60.00
0.06
70.00
10.25
5.00
0.0%
0.0
—
—
153.00Cons
umer
Dis
cret
iona
ryPr
oper
ty
8.00
—
-15.3%
1.00—
5.0%
1.202.00 2.00 — —
5.6
2.26
-17.8%
84.75
0.2%
—26.5085.50
97.00
6.00
24-Jun
—
-18.9%
Weekly Insight
40.35
85.50
—
1.74
-1.7%
-9.1%
96.50
5.11.16
Week Ended
6
Preference Shares with Fixed Dividends
NMHL(P) ▲ENLL(P) ▬ASCE(P) ▬TPL(P) ▬LFL(P) ▬LMLC(P) ▬TREVO(P) ▬
Debt Securities
OMNI 08/17 [7.15%] ▼NMHL 07/17 [€3.50%] ▲LUX 12/17 [9.00%] ▲NMHL 07/18 [R+1.35%] ▼UBP 10/18 [R+1.20%] ▼ABCM 01/19 [6.00%] ▼NMHL 07/19 [R+1.85%] ▼UIL 01/20 [R+2.35%] ▼CBVA 10/20 [R+1.10%] ▼CBVA 10/20 [R+1.60%] ▼EVACO 06/21 [R+3.00%] ▼MCB 08/23 [R+1.35%] ▲SBM 03/24 [R+1.35%] ▼MUA 09/24 [R+1.85%] ▲ASCE 06/25 [6.00%] ▼
Melvyn Chung Kai To AXYS Stockbroking Ltd, 6th Floor, Dias Pier Building, Le Caudan Waterfront, Caudan, Port-Louis, 11307Bhavik Desai Tel (230) 405 4000 | Email [email protected] | www.axysstockbroking.com | BRN C07007948
15-Sep-16 6.03% 6.04% 7.40% 16-Jun-21 105.24 116.983.36%
7.00%
5.71% 20.0%
4.5
-11
Fair Val VWAP24-Jun
11.00
63 — 7.07%
5.52%
7.00%
Debenture
27-Jan-19
<16-Jul-16
6.28%
102.44
5.43%
17-Jul-18
Rs10 on Wind-Up
8.0%
6
102.51
106.75
6.00%
6.75%
5.84% 26
111.30
6.00%
R13 on Wind-Up —
24-Jun
12.33
<15-May-17
11.35
100.252.31%
24-Jun @ Par
0.00
— —
7.15%16-Dec-16
6.0%
-69
193.00
3.14%
2.81%
102.61
5.71%
30-Sep-16
5.78%
Fair Val
YTM
Redemption
5.00%
-58 —
6.0% 16.054.15%
—
-48
Setmt
4.15%
19.08Rs100 on Wind-Up
12.0%5.00%
Rs0 ≥31-Jan-18
Rs100 on Wind-Up
24.00
15-Jul-16
—
YTM Week Ended
0
30-Jun-16
3.69%
5.15%
31-Jul-16
15-Jul-16
5.79%
6.29%
5.46% 6.75%
YTM @ FV
31-Jan-20
40.70% 1.24%
13.00
30-Jun-16
16-Aug-17
Maturity17-Jun
3.62%
5.45%
2.06%
31-Oct-18
5.22%
4.78% 30-Jun-256.00%
08-Aug-16
103.60
112.26
24-Sep-245.39%
103.44
105.46
5.44%
111.28
15-Jul-16 6.00%
08-Aug-23
5.07%
3.65%
5.23%
6.00%
2.78%
107.07
113.93
104.96
103.19
2.32%
5.24%
109.38
114.93
24-Sep-16
28-Jan-17
4.78%
27-Oct-16
99.48
6.96%
104.89
113.24
6.50%
1.02%5.37%
39.59%
10-Sep-16
17-Jul-173.50%
105.19
101.40
31-Dec-17
6.00%5.07%
2.15%
2.42%
17-Jul-193.50%
6.95%
5.34%
5.85%
9.00%
5.51%
4.84%
10-Mar-24
111.39
116.83
317.97 350.00
6.00% 6.00% Rs13.2 ≥30-Jun-20
Weekly Insight
7.07% -6
— 127.19
7.0% — 39.60
0 —
<15-May-17
Pref Share
Rs40 ≥01-Dec-15
LCPYTD
24-Jun-2016
DY
11.00
17-Jun YoY Val.@ Par
DY Wk Ended
<15-May-17
<30-Jun-17 13.20
NextDividend
-7 —
Change [bps]
NextCoupon
<15-May-17
—
7.0%
27-Oct-20 102.58 110.60
27-Oct-16 5.34% 5.35% 3.75% 3.50% 27-Oct-20 103.51 108.73
426
272
3,786
246227
252
180
265
145 156192
44 1229
-52
Premium to Risk Free [bps]>999
7
Fixed Income Instruments
Moody's Credit Rating: Baa1
Overnight [% p.a.]1 Week [% p.a.]
ETFs & Commodities
L HNewGOLD [Rs/coz]▼Gold [Rs/coz] ▲NewPLAT [Rs/coz] ▼Plat. [Rs/coz] ▲Sugar [Rs/t] ▼B.Crude [Rs/L] ▲S&P GIVI SA Top 50 ▲*where coz ≡ centi troy ounce, i.e. ~0.3g; t ≡ tonne = 1,000kg; L ≡ Litre = 100cm 3
Melvyn Chung Kai To AXYS Stockbroking Ltd, 6th Floor, Dias Pier Building, Le Caudan Waterfront, Caudan, Port-Louis, 11307Bhavik Desai Tel (230) 405 4000 | Email [email protected] | www.axysstockbroking.com | BRN C07007948
355.54
2.73%
—
-16.2%
11.23
357.63
481.856.0%
Weekly Insight
1.32
LCP
15,066
1.70
16,015
466.34
Week EndedPLIBOR
24-Jun-2016
24.1%
-6.9%
451.00
-4.51%339.51 -10.9% 434.25
YTD
-1.18%
Wk Ended
1.68
—
ETF & Commodity
0.44%
17-Jun24-Jun
356.06
—52-Wk—
—
12.6%
33.3%
65.8%-5.93%
110.61-21.3%
—
15.0%
10.92
41.52%1.34
2.4%
5.8%
7
4.5
23.2%
117.87
1 Wk
▼
YoY Val.449.06 15.1% 451.00
2.88%
▲
114.73
3.33%
-4.52%
VWAP
5.5%
Change
2.4%
17-Jun-2016
Change
YTD1 Week YTD in bps
428.76
24-Jun-2016
2.9
4.2
5.5
6.3
7.1
2.0
3.5
5.0
6.5
0 5 10 15 20So
vere
ign
Yiel
ds [
%]
Instrument Maturity [Yrs]
Log. (Previous)
Poly. (Current)
0.8
1.8
2.8
3.8
Inte
rest
Rat
e [%
]
PLIBOR 1-Day
PLIBOR 1-Wk
Tbill 91-Day
Current
Prev. Yr
85
90
95
100
105
110
Inde
x =
100
on 3
1-M
ar-1
5
NewGold [Rs] Gold [$]70
80
90
100
Inde
x =
100
on 3
1-M
ar-1
5
NewPlat [Rs]
Plat [$]50
75
100
125
150
175
Inde
x =
100
on 3
1-M
ar-1
5
Sugar [$]
Crude [$]
8
Forex Rates
L HUSD / MUREUR / MURGBP / MURZAR / MURAUD / MURJPY / MUR*Weight of currency in trade basket used to compute an MUR index (MURX)
Forex Market Watch
*where USDX is the USD Dollar index and MURX is an MUR index computed by AXYS against five peers using the trade basket
Melvyn Chung Kai To AXYS Stockbroking Ltd, 6th Floor, Dias Pier Building, Le Caudan Waterfront, Caudan, Port-Louis, 11307Bhavik Desai Tel (230) 405 4000 | Email [email protected] | www.axysstockbroking.com | BRN C07007948
40.84
During the week ended Jun 24th 2016, the Bank of Mauritius did not intervene on the domestic foreign exchange market.
36.52
51.690.8%
26.87-19.4%
3%2.39
18.6%
7%
24-Jun-2016
-12.0%0.5%
▼
1 WkWeek Ended
-3.1%▲
Weekly Insight
40.13
26.8824.5%
0.5%
0.0%
-0.01%
—52-Wk Range—
YTD 52 Wks
-4.59%
36.17 3.41%
2.39
2.3%
-8.9%0.3%
0.03%
17-JunChange
▼
▲
49.31
Currency
▲ 34.98
-1.74%6%
57%Wt*
▼
24-Jun
27%36.30 0.61%
-18
-9
0
9
Inde
x =
100
on 3
1-M
ar-2
013
USD EUR GBP
Elections
25
475
925
1,375
1,825
92
94
96
98
100
102
BoM FX purchases [Rs M
]Inde
x =
100
on 3
1-M
ar-1
5
BoM MURX USDX
8.91
11.92
7.18
10.37
15.08
13.85 1.28
3.80
14.89
14.57
10.2
15.7
22.1
24.9
15.1 13.8
2930 31 31
3536
4039
41 41
2011 2012 2013 2014 2015 2016
USD bought [Rs bn]
EUR bought [Rs bn]
USD VWAP [Rs]
EUR VWAP [Rs]
9
SEM Listed Fund Net Asset Values
Africa Sustainability Fund
Bayport Management Ltd
Colina Holdings Ltd
Global Diversified Fund PCC - Cell No. 1
Global Windsor Capital Fund Ltd
Mauritius Development Investment Trust
National Investment Trust
Novare Africa Fund PCC
NinetyEast Timaeus Capital Fund PCC - Cell A
P.O.L.I.C.Y. Ltd
RSJ Prop, PCC
Summit Funds PCC - Balanced Fund (SFPBF)
Triangle Real Estate India Fund LLC
Universal Golden Fund
AfrAsia Capital Management Ltd
– ACM India Focus Fund
– ACM Aussie Ltd
– ACM European Ltd
– AfrAsia Special Opportunities Fund
– AfrAsia Special Opportunities Fund
Global Investment Opportunities Fund Ltd
– Kotak Indian Growth Fund (Class A)
– Kotak Indian Mid-Cap Fund (Class C)
Imara
– Imara African Opportunities Fund Ltd
– Imara Global Fund Ltd
IPRO Ltd
IPRO Growth Fund Ltd
IPRO African Market Leaders Fund Ltd
Kotak Investment Opportunities Fund Ltd (KIOFL) Class D Shares
– Kotak Indian Infrastructure & Realty Fund (Series 1)
– Kotak Indian Infrastructure & Realty Fund (Series 2)
Select Abbreviations
Disclaimer
Melvyn Chung Kai To AXYS Stockbroking Ltd, 6th Floor, Dias Pier Building, Le Caudan Waterfront, Caudan, Port-Louis, 11307Bhavik Desai Tel (230) 405 4000 | Email [email protected] | www.axysstockbroking.com | BRN C07007948
Rs 69.11 70.45 70.45 0.0% -1.6%
▼ Rs 5.21 5.28 5.19 -1.7% -2.8%
—
AXYS Stockbroking Ltd has issued this document without consideration of the investment objectives, financial situation or particular needs of any individualrecipient. AXYS Stockbroking Ltd will not be under any liability for loss or damage of any kind whatsoever arising in connection with the contents of thisdocument. This document is not, and should not be construed as, an offer to sell or the solicitation of an offer to purchase or subscribe for any investment.This document has been based on information obtained from sources believed to be reliable but which have not been independently verified. AXYSStockbroking Ltd makes no guarantee, representation or warranty and accepts no responsibility or liability as to its accuracy or completeness. AXYSStockbroking Ltd is a member of the Stock Exchange of Mauritius and is licensed by the Financial Services Commission.
$
$
▬
1,219
Month Ended
562.45
13.09
28.28
$
$
Official Market Apr-16
Weekly Insight24-Jun-2016
▬
-0.5%
R (ZAR)
2.8%
$ (AUD)
▲
$
2.4%
12.56
▲
541.30
472.97454.91
549.26
▲
▬ 0.98
ChangeYTD
0.9%
749.47655.17
▼
▲
▲
27.23
802.37
€
-1.0%
0.0%
0.0%
0.0%
0.97
0.5%
0.3%
13.9%-5.0%
▬
▼ Rs 3.56 3.53 3.45 -2.3% -7.8%
▼
▲
▬
35.6%
6.00
$
1.00 0.0%
0.0%
-60.9%
▲ 1,170
MtoM
99.66
857.19
6.60
0.97
-2.6%
2.10
30.1833.35
0.0%3.79
121.25
Rs
—
-2.1%
470.02 -2.7%▲
106.69
814.51
99.71
5.72
106.69
$
£
1.00
1.00
$ 99.71
2.09
May-16751.53
1.17
$
▼Mar-16
▲ 4.05
25.65
1.47
$
▼
▼
▬
$
0.0%
▬
▼
151.40
2.3%
—
1,718
-13.5%
0.0%
0%
1.47
2.02
0.0%
-3.4%
—
-9.8%
-3.1%
595.87
0.1%
-0.8%
4.2%
1.52
13.09
€
28.39
$
$
$
Sectors:FIN = Financial; TL = Travel & Leisure; MSCH = Multi-Sector Conglomerates & Holdings; CONS = Consumer Staples; COND = Consumer Discretionary; MAT =Materials; IND = Industrials; HLTH = Health; COMM = Communications; PROP = Property; INVH = Investment Holdings; UT = Utilities; GOV = Public Sector;OTH =Other.
2.4%
3.84▲
4.11
125.26 120.95
4.21$
2.3%3.93
$
28.13
-0.2%
0.0%
2.3%
$
▼
25.21 -3.6%
-3.4%
25.75
823.87
-4.2%
$
1.15
0.6%
825.14
▲
-0.4%
6.5%
14.4%
1.00
10