Movers & Shakers: August 27, 2012

African Currencies as at GMT 15:30

Botswana: DCI -0.81%, USD 77k

Another dull day in Botswana today, activity levels below $100k while the market softened -81bps. There were two names that changed price, Chobe gained +3t to close at 260t while FNBB lost -5t to close at 290t. The two names that dominated the value traded were BIHL unch at 1020t and FNBB unch at 290t.

Egypt: EGX 30 +0.75%, USD 104m

The market managed to continue to trade higher today, the EGX 30 traded 0.75% higher to close at 5281.68 points. Volume has improved notably, market traded total turnover of USD 104m, Internationals investors continue with their profit taking sentiment to end the day as the sole net-buyers along with GCC retail investors, yet local institutions along with local retail investors continue to increase their exposure in the market. Names such as OCDI EFIC and MOIL lead the market in terms of performance, each ending the day up 4.58%, 4.11% and 3.48% respectively. OTMT traded against the general market sentiment, the name witnessed notable selling pressure lead by GCC investors, the former ended the day down 1.69% to last print at EGP0.58.

Investor mix:
•  Foreigners were net Sellers by 2.96 mn EGP and were 15.60% of the market.
•  Egyptians were net Buyers by 13.33 mn EGP and were 78.54% of the market.
•  Arabs were net Sellers by 10.37 mn EGP and were 5.87% of the market.
•  Institutions were net Buyers by 0.759 mn EGP and were 27.75% of the market.
•  Retail were net Sellers by 0.759 mn EGP and were 72.24% of the market.

Kenya: NSE 20 +0.32%, USD 2.2m

Equity turnover reduced 6.5%, as institutional investor participation declined slightly. The NSE 20 index made marginal gains during the session. Losers and gainers during the day were evenly matched at 15 and 14 counters respectively. Foreign investor activity eased slightly to 33.3% from 34.8% of total trades in the previous session. EABL and Bamburi Cement were the leading movers of the day, together accounting for 46.6% of market volumes. EABL was unchanged as appetite from foreign investors held the brewer unchanged for the day. Equity Bank and Kenya Power were some of the main movers, also marking an upward move. There is speculative interest on Kenya Power from domestic investors ahead of FY12 results. Pan Africa Insurance did not trade after releasing results during the session. The insurer was in line with the rest of the sector, posting a remarkable 199.2%y/y jump in 1H12 net profits. Kenya Re notched 3.8% higher on the day while CIC Insurance and CFC Insurance fell 1.2% and 1.1% respectively.

Mauritius: Semdex -0.66%, USD 4.07m

Rather active day with value traded amounting to USD 4.07m thanks to a few large crosses in Rogers once again as a total of 270k shares changed hands in the name with the counter falling 0.65% to close at 308.00. MCB continued to fall, losing 0.61% to close at 162.00 while SBM closed the day unchanged at 82.00. NMH came under some pressure on thin volume (2.9k shares) and fell 1.72% to close at 57.00.

Nigeria: ASI +0.39%, USD 15.1m

The market in Nigeria opened stronger today and managed to end the day +39bps for the better, largely driven by the banks, the bank10 closed +0.59% higher. GTB and UBA were the strongest performers +1.03% and 1.4% respectively while FBN +0.46% and Zenith +0.13% were the most active names. The cement, conglomerate and food & bev sectors all struggled a bit, PZ -0.96%, Cadbury -0.6%, DangS -0.68% and DangF -3.54%. The brewer NB also had a active day (most active counter in the mkt at $3.3m), closing at 121.6, +1.59% higher.

South Africa: Top 40 +0.29%, USD 620k

The JSE ended the day higher with the Top 40 Index gaining +0.29% to close at 35897.69 - following global markets north while value traded amounted to a paltry USD 620k (bank holiday in the UK). All the sectors closed the day higher except for the golds which ended the day -1.12% worse off. The banks were the top performing sector +50bps.

Zambia: LuSE +0.76%, USD 63k

The market closed the day higher with the LuSE gaining 0.76% while value traded amounted to USD 63k thanks to a cross in LAFA. The names that traded included CECZ, LAFA, PUMA, SCBL, ZNCO and ZSUG. LAFA was the biggest contributor towards turnover with value traded in the name amounting to USD 56k. ZNCO was the second biggest contributor towards turnover with value traded in the name amounting to USD 3k.

Zimbabwe: Industrial Index -0.39%, Mining Index unch, USD 288k

Extremely quiet start to the week with value traded amounting to a disappointing USD 288k. The Industrial sector continued its recent downward spiral with the Index falling 0.39% to close at 130.78. Econet and Delta were the only stocks with significant activity on the day with 18k shares and 113k shares traded in the names respectively. The Mining Index closed the day unchanged yet again at 89.04 as Bindura was the only counter that traded on the day.