Movers & Shakers: August 10, 2012

Abridged Movers and Shakers

Kenya: NSE 20 +0.2%, USD 5.8m

Equity turnover quickened 12.2% on the last day of trading for the week. The NSE 20 index rose 0.2% as 22 counters gained, 14 declined and the rest remained unchanged. Foreign investors accounted for 65.8% of turnover compared to 38.6% in the previous session. The top six leading movers during the session were buoyed by foreign investor purchasing. Selling activity by foreign investors was however also witnessed on Safaricom and EABL. EABL inched 0.9% higher to KES 231 ahead of FY12 results to June 2012, which are due to be announced on 24 August 2012. Standard Chartered Bank rose 3.1% after reporting an 81.5% jump in net profits for 1H12 at the close of the previous session. Kenya Re added 0.9% after posting a 37% rise in net profits for 1H12. AccessKenya was unchanged at KES 4.90, also announcing interim results during the day. Industrial gas maker, Carbacid, was one of the leading gainers of the day ahead of FY12 results.

Nigeria: ASI +0.26%, USD 9.78m

Quiet again in Nigeria today with activity levels failing to breach the $10m mark while the market managed to advance +0.26%. The banks struggled with only FBN from the top tier closing in the black, +0.67% while UBA and Access were noticable losers -4.44% and -1.32% respectively. The banks accounted for 73% of the total activity in the mkt with GTB the most active name. There were some large swings amongst the conglomerates, Flourmills +4%, PZ fell -2.51%, UACN eased 2.56%. DangS was one of the hardest hit names in the session -4.86%.