Movers & Shakers: August 27, 2013

Botswana: DCI -0.21%, USD 2.03m

A mammoth cross in Turnstar accounted for 93% of the turnover today. The name is normally very illiquid. Scraps traded in BIHL and Barclays.

Egypt: EGX 30 -2.04%, USD 49m

The market continues to witness profit booking today lead by international institutions and local institutions, leaving the EGX30 to end the day down 2.04% to close at 5,337.65 points. The market continues to trade very weak volumes yet a slight improvement to recent average turnover, the market traded a total turnover of EGP343m. The market traded with a profit booking sentiment as fear continue to rise regarding the political and economical instability in country with increasing calls for a massive protest on the 30th of August, local investors(institutional) were sellers in the market after being notable buyers over the last two weeks targeting names such as POIH, OTMT and ESRS each ending the day down 4.32%, 3.47% and 3.07% respectively. It’s worth mentioning that foreign was extremely low today, accounting for less than 10% of the total turnover.

Kenya: NSE 20 -0.66%, USD 3.5m

Activity slowed down drastically today with value traded falling to $3.5m on the back of a further decline in foreign participation. Profit taking in telco giant Safcom continued as foreigners accounted for 90% of sales with the counter falling 1.9% to close at KES 7.75. EABL also came under a bit of pressure with the brewer falling 1.3% to close at KES 306. Liberty Holdings gained 0.8% to KES 12.10, after posting a 50.6%y/y rise in 1H13 earnings.

Mauritius: Semdex -0.03%, USD 1.15m

A rather uneventful day again in Port Louis. The Sem-7 fell by 7bps mostly due to weakness in SBM (-93bps, Rs1.06) while this was partly offset by gains in MCB (+26bps, Rs194) and Bramer Banking (+1.67%, Rs6.10).

Nigeria: ASI -0.14%, USD 16.63m

Another pretty uneventful day with volumes remaining on the thin side. Banks reversed some of yesterday’s weakness by closing up 21bps with UBA (+3.82%, N7.61) the main driver behind this as most names closed in the red. FBNH released their H1 results early in the session yet the name didn’t really react and closed in line with most Tier 1 names (-86bps, N16.16). Consumers fell by a measly 25bps with the main culprits being NB (-60bps, N166) and Cadbury (-3.59%, N51). In the cements, we saw yet again some chunky crossing in Wapco as the name closed down 2.11% at N93.

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

South Africa: Top 40 -0.47%, USD 1.21bn

The JSE ended the day lower with the Top 40 Index falling 0.47% to close at 38,720 while value traded amounted to USD 1.21bn. Industrials were the day's biggest losers with the Index falling 0.66% followed by Financials and Resources which fell 0.65% and 0.05% respectively. The Rand was trading at 10.41 and 13.94 to the USD and EUR respectively by the time local markets closed.

Zimbabwe: Industrials +0.15%, Mining unch, USD 2.6m

Interest on the ZSE was largely confined to top capitalized company Delta which took up $1.85m (71%) of today’s $2.6m turnover. The stock however lost a marginal 0.01-% on its share price to end at 111c. Trailing in contribution was Econet with $0.26m (10%) with its price receding -0.15% to 49.5c. The other notable trade was in seed producers Seedco with $0.19m (7%) firming +3.9% to 80c ahead of its AGM later this week; retailers OK with $0.1m (4%) recovering +4.8% to 22.01c on renewed demand. Discounted prices in the market have seen selective demand returning resulting in SeedCO rising +3.9% to 80c, retailers OK jumping +4.8% to 22.01c and milk processors Dairibord advancing +5.3% to 20c. Topping the advances were recoveries of +14.3% to 4c in Zimplow Holdings and Art which edged +11.1% to 0.5c. Today’s gains saw the Industrial Index rebounding by a marginal +0.15% to close at 183.80pts. Meanwhile Minings were unchanged at 48.14pts with the only trade of the day taking place in Hwange at 11c.

Zimbabwe

zw

African Currencies