Markets and Commodity figures

12 March 2017
Price Price MKT Cap Shares in
Company Ticker Sector Country US$ Change* US$Mn P/E Issue Mn

SAB Miller SAB SJ Beverages South Africa 60.64 -0.9% 97 675.93 34.8 1 610.6
Anglo American AGL SJ Mining South Africa 15.57 -0.3% 20 087.24 -9.6 1 289.9
Sasol SOL SJ Oil & gas South Africa 28.48 -0.5% 18 554.41 8.8 651.4
MTN Group MTN SJ Telecommunications South Africa 9.52 3.6% 17 101.45 16.7 1 797.2
Standard Bank SBK SJ Banking & finance South Africa 12.06 8.5% 19 254.65 11.3 1 596.6
Anglo Platinum AMS SJ Mining South Africa 23.06 -5.3% 6 187.84 126.0 268.3
ANGLOGOLD ASHANTI LTD ANG SJ Mining South Africa 10.47 -11.5% 4 276.10 -90.0 408.2
Tullow Oil plc TLW GN Oil & gas Ghana 4.52 -18.1% 4 115.88 381.7 911.4
Maroc Telecom IAM MC Telecommunications Morocco 14.32 1.8% 12 590.59 20.6 879.1
DANGOTE CEMENT PLC DANG NL Building Materials Nigeria 0.51 -5.2% 8 739.60 14.2 17 040.5
Orascom Construction OCIC EY Construction Egypt 13.42 -2.4% 2 777.00 74.0 206.9
Attijariwafa Bank ATW MC Banking & finance Morocco 42.22 1.2% 8 592.53 18.2 203.5
Nigerian Breweries NB NL Breweries Nigeria 0.98 -1.1% 7 385.83 28.4 7 562.6
Banque Marocaine du Commerce BCE MC Banking & finance Morocco 19.96 -0.7% 3 582.32 16.3 179.5
Telecom Egypt ETEL EY Telecommunications Egypt 0.70 -6.3% 1 190.44 6.1 1 707.1
VODAFONE EGYPT VODE EY Telecommunications Egypt 3.72 -5.9% 893.26 6.0 240.0
BANQUE CENTRALE POPULAIRE BCP MC Banks Morocco 27.82 -1.2% 4 006.41 19.2 182.3
Lafarge LAC MC Building materials Morocco 254.51 0.8% 4 446.00 25.9 17.5
Douja Prom Addoha ADH MC Real Estate Morocco 4.89 1.4% 1 577.47 16.2 322.6
Sonatel Sn SNTS BC Telecommunications Brvm 40.34 -0.4% 4 034.02 13.2 100.0
Guaranty Trust Bank GUARANTY NL Banking & finance Nigeria 0.08 2.9% 2 331.62 5.5 29 431.2
Zenith Bank ZENITH NL Banking & finance Nigeria 0.05 -2.8% 1 439.24 4.0 31 396.5
CGI CGI MC Real Estate Morocco 42.20 -0.7% 776.88 14.4 18.4
Guinness Nigeria PLC GUINNES NL Beverages Nigeria 0.20 -6.9% 305.47 -18.7 1 505.9
Commercial International Bank CIB EY Banks Egypt 4.56 -2.1% 5 260.19 14.6 1 153.9
First Bank FIRSTBAN NL Banks Nigeria 0.01 1.0% 361.20 2.5 35 895.0
Abu Kir Fertilizers ABUK EY Chemicals Egypt 6.56 -7.2% 551.71 6.1 84.1
East African Breweries EABL KN Breweries Kenya 2.15 -3.3% 1 700.47 22.4 790.8
Safaricom Ltd SAFCOM KN Telecommunications Kenya 0.17 -5.9% 6 709.86 15.3 40 065.4
Mauritius Comm. Bank MCB MP Banking & finance Mauritius 6.30 0.1% 1 501.70 7.5 238.2
Mobinil EMOB EY Telecommunications Egypt 5.09 -5.0% 509.13 - 100.0
T M G HOLDING TMGH EY Real Estate Egypt 0.49 -7.0% 1 012.42 19.9 2 063.6
Poulina Group Holding PGH TU Holding Companies-Divers Tunisia 3.19 -1.0% 574.56 15.2 180.0
Ecobank Transnational Inc ETIT BC Banks Brvm 0.04 -0.4% 563.49 2.4 15 952.7
STANBIC IBTC BANK PLC IBTCCB NL Banks Nigeria 0.06 3.3% 574.37 8.3 10 000.0
State Bank Mauritius SBM MP Banking & finance Mauritius 0.03 0.1% 963.58 11.2 31 000.0
Barclays Bank Kenya BCBL KN Banking & finance Kenya 0.09 1.3% 473.70 6.0 5 432.0
Banque De Tunisie BT TU Banking & finance Tunisia 3.52 -0.4% 528.37 13.7 150.0
Equity Bank Limited EQBNK KN Banking & finance Kenya 0.26 -3.0% 962.94 4.9 3 773.7
Kenya Comm. Bank Ltd KNCB KN Banking & finance Kenya 0.25 -0.2% 764.46 3.7 3 025.2

Africa investor Ai40 Weekly Commentary 6 March 2017

It was the second week of downward movement of the Ai40 Investors Index. Mining and oil & gas stocks dragged the index down
while banking and telecoms equities where the top gainers. The Index fell by 40 basis points; a drop of 0.42% from last weeks
value of 93.33. The index closed Friday at a value of 92.93.
In US markets, the Federal Reserve was in play last week as an interest rate hike for March was all but confirmed. The US dollar
and major stock indexes both rose over the week before slipping on Friday due to profit taking according to Nasdaq.com. The S&P
500 and Nasdaq posted their sixth consecutive week of gains last week. On the global front, stocks traded mostly lower on Friday
as international markets tracked US markets. In Europe, investors also mulled the rate hike in the US while private sector
business activity rose at its quickest pace in nearly six years according to Investopedia. Although they were lower on Friday
following disappointing company updates, European equities recorded their best weekly gains of 2017.
At Fridays close, the Dow Jones Industrial Average was up 0.1%, or 2.74 points, to close at a value of 21,005.71; the Index broke
over the 21000 mark last week for the first time. The Nasdaq Composite Index gained 0.16%, or 9.53 points, to end the session at
5,870.75. The S&P 500 was up 0.05%, or 1.20 points, to close Friday on a value of 2,383.12. The MSCI global stock index rose
over the 21000 mark last week for the first time. The Nasdaq Composite Index gained 0.16%, or 9.53 points, to end the session at
5,870.75. The S&P 500 was up 0.05%, or 1.20 points, to close Friday on a value of 2,383.12. The MSCI global stock index rose
0.25% for the week.

Gainers
Banking and Telecoms stocks (particularly from SA & Nigeria) were the order of the day on the Top Gainers list. JSE-listed Standard
Bank was the top performer last week after posting a gain of 8.5%; the firm reported a 4% rise in full-year profit according to
CNBC Africa. Telecoms giant, MTN gained a modest 3.6%. This was despite the company posting its first annual loss ($108 million)
in two decades following the payment of a fine to regulators in Nigeria which wiped a third off its earnings according to
Financial Times.

In Nigeria, equities for Standard IBTC Bank and Guaranty Trust Bank were up 3.3% and 2.9% respectively over the week. Further
North on the continent, stock for Maroc Telecom the main telecommunications company in Morocco rose 1.8%

Losers
Last session, the three Anglos were the main feature on the Losers List. Stock for AngloGold Ashanti fared the worst with an 11.4%
drop. The miner reported earnings for H2 2016 last week; despite declaring its first dividend since 2013 and posting a profit of
$80m for the year (in comparison to a $70m loss the year before); the stock still suffered. According to Barrons, a culprit for the
performance divergence could be the CEOs share sale. Shares for Anglo American took a 6.8% knock last session, however, the
company has managed to reap rewards from the recent rise in commodity prices and announced that 2016 EBITDA was up 25% to
$6.1 billion. Anglo Platinum suffered less than its peers with a 3.7% drop.
Moroccan-listed Banque Centrale Populaire and Lagos-listed First Bank were down 6.5% and 6.0% respectively.
For more on the Ai40 Index, please, visit the Africa investor website at www.africainvestor.com.
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