Stockbrokers Botswana's Weekly Market Review of the Botswana Stock Exchange

Despite a very quiet week on the Botswana Stock Exchange, the market moved up 5.29 points (0.5%) to end the week at 975.89 points against the previous week's 970.60 points. Barclays traded 3 790 shares at the unchanged price of 2050t but was then bid up to 2025t with no offers after the announcement of its good year end results. Pep, also on the back of results announcement containing news of a 68t special dividend in addition to an interim dividend of 13t, was bid stronger at 230t and offered at 250t after having traded 4 700 shares at the previous level of 185t. 1 800 Sefalana shares exchanged hands at the previous price of 410t before the stock jumped up 40t to 450t on 1 000 shares. Botswana Insurance (100 shares at 910t), First National Bank (2 500 shares at 1890t), Furnmart (700 shares at 210t), Inco (6 100 shares at 180t), and Sechaba (4 700 shares at 530t), were all at previous prices. Medrescue dropped back 3t to 130t on 12 200 shares. Engen, KYS, Metsef, RDCP and Stanchart, were all not traded. A total of 37 590 domestic shares changed hands for a total value of P199 650. Most counters on the foreign sector board strengthened. Money market - The next auction is likely to be held on the 25-Feb-99 to coincide with the BOBC maturing on the 26-Feb-99. Clients are likely to receive an interest rate of about 10.7% annualised. (minimum investment P50,000). Bond market - The BDC bond traded P50 000 at 12.5%. Currencies - The pula weakened by 1.6% and 2.1% against the US dollar and pound sterling respectively, but strengthened by 0.5% against the rand.