Movers & Shakers: August 01, 2013

Botswana: DCI -0.09%, USD 119k

A cross in FNBB accounted for 72% of turnover in Gaborone today in an otherwise dull session with total value traded amounting to USD 119k after yesterday's fireworks in Sechaba.

Egypt: EGX 30 +0.05%, USD 33m

The market managed to end the day on positive sentiment leaving the EGX30 to end the day up 0.05% to close 5,389.63 points. Market volumes were significantly low relative to recent turnovers, the market traded a total turnover of USD 33m in which more than 8% of the total turnover was attributed to one cross in SWDY. After yesterday's positive close the market managed to end the day slightly higher lead by notable accumulation from local investors( retail and institutional) targeting names such as ORTE, COMI and SKPC, yet international investors continue to be bearish on the market to continue with their selling spree, targeting names such as TMGH(-0.40%), PHDC(-0.83%) and HRHO(-0.35%).

Kenya: NSE 20 -0.21%, USD 9.0m

Another day of high turnover in Nairobi. A chunky cross in KCB shortly before the close was the main contributor to the high volumes as the stock accounted for about 1/3 of the total turnover. KCB closed unchanged at KES 44.75. EABL also saw some chunky trading ahead of Friday's results. The name closed down 2.9% at KES 305. The interesting part is that the buys were almost exclusively foreign while the sells were 100% local funds selling. Safcom retreated for the first time in recent sessions and closed down 1.8% at KES 8.05 on good trading.

Mauritius: Semdex +0.38%, USD 905k

Activity dropped off in Mauritius today with value traded amounting to USD 905k. MCB drove activity and accounted for 68% of turnover with crosses totalling 62k shares going through in the name. The rest of the market was relatively quiet with 1.4m shares traded in SBM while NMH managed to gain 0.75% to close at 67.00.

Nigeria: ASI -0.58%, USD 12.23m

Another very dull day in Lagos as the index continues to drift gently lower. Consumers were soft yet again with the main contributors to the poor performance being Flour Mills (-9.25%, N69.48) and Guinness (-1.55%, N254) although activity was rather quiet in the sector. Banks were more lively, although its all relative in such quiet markets but Zenith and FBNH had reasonable trading turnover. The index closed down 98bps with all Tier 1 names closing slightly in the red. Access Bank released their H1 results during the session. The name closed down 91bps at N10.90, pretty much in line with the other Tier 1 banks.

Please note that the index figure above is correct at the time of writing.

South Africa: Top 40 +0.01%, USD 1.1bn

The JSE ended the day neither here nor there as the index closed marginally higher. The ZAR continues to sell off as risky assets lose favour with investors and was trading at R10.23, R16.06 and R13.70 vs the USD, GBP and EUR respectively at the time of writing.

Zambia: LuSE -0.48%, USD 41k

Back to normal in Lusaka today as value traded amounted to USD 41k with a cross going through in ZSUG ($36k) the only action to speak of.

Zimbabwe: Industrials +0.60%, Mining unch, USD 2.14m

The Zimbabwe bourse finally stopped the bleeding by posting its first gain since Mugabe's election win last month and just 1 day before his inauguration. Please note tomorrow is a holiday for this occasion. 5% gains in OK and Hippo were the main drivers behind the market strength as these names closed at 21c and 105c respectively. The market heavyweights, however, continue to be soft as Delta and Econet lost 88bps and 93bps to 113c and 50c respectively. Market activity remains buoyant with Delta and Dairibord the main contributors in this regard.

African Currencies