Movers & Shakers: August 28, 2013

Botswana: DCI +0.24%, USD 715k

Not too much on the go in Gaborone today with value traded amounting to USD 715k. Activity was however relatively broad based with some volume going through in the likes of FNB, Choppies and Sefalana.

Egypt: EGX 30 -2.09%, USD 44m

The market witnessed a panic today lead by international institutions and local retail investors leaving the EGX30 to end the day down 2.09% to close at 5,226.04points. The market continues to trade weak volumes relative to recent average turnover, the market traded a total turnover of USD 44m. The market witnessed notable selling today on the back of growing fears geopolitical unrest regarding Syria which lead a panic in all regional markets. Retail investors were notable sellers today this mainly attributed to margin calls due to the tension in the region, adding to this international investors continue to decrease their exposure in the market. Names such as PHDC(-4.31%), HRHO(-3.28%) and COMI(-2.14%) witnessed notable pressure today, names such as TMGH managed last print higher than the open. It’s worth mentioning SKPC traded more than 400% of its 30 day average volumes and ended the day flat unchanged.

Kenya: NSE 20 -0.68%, USD 6.7m

The NSE got hurt today as heavyweights KNCB, Safcom and Equity Bank all lost ground. KNCB was the worst performer for the day as it lost 3.4% to KES 43 ahead of tomorrow’s results announcement while Equity Bank followed suit by dropping 2.2% to KES 33.25. Safcom saw some chunky foreign action yet closed the day down 3.2% at KES 7.50 and as the most actively traded stock. EABL lost 1.6% to KES 301 (4 month low) as the heavyweight counters all fell. Foreign participation was improved yet still skewed to the buy side.

Mauritius: Semdex -0.13%, USD 2.6m

Much better day in Port Louis today with value traded amounting to USD 2.6m thanks to a cross in local brewer PBL of 140k shares at Rs202.50. The two major banking stocks were also rather active as SBM (-0.94%) saw 15.23m shares change hands while a total of 68k shares traded in MCB (unch) with a number of relatively small crosses going through in the name.

Nigeria: NSE 20 -0.50%, USD 12.8m

It was another painfully dull day in Lagos with a chunky cross in NB just before the close about the only real excitement. Banks lost 63bps today as all Tier 1 names closed in the red. However, the sector was extremely quiet bar some excitement in FBNH after yesterday’s results (-2.54%, N15.75). The consumers lost 94bps but the sector was also extremely painful outside of the NB cross. NB was also the primary reason for the sector’s weakness as it lost 2.41% to N162. Outside of this name the sector was very dull.

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

South Africa: Top 40 -1.75%, USD 1.43bn

A tough day on the JSE as all sectors closed in the red. The Rand remains on the back foot and was trading at R10.33, R16.05 and R13.77 vs the USD, GBP and EUR respectively at the time of writing.

Zimbabwe: Industrials -0.66%, Mining -1.47%, USD 855k

Market heavies succumbed in today’s session as they continue to find traction resulting in the main stream industrial index easing -0.66% to182.59 pts. Diversified group Innscor that is due to release its F2013 finals in a week’s time fell -4.7% to 82c closing bid at that price. Telecoms giant Econet gave up -1.1% to 48.98c on a volume of circa 1m shares and ended buyers only at 48c ahead of its AGM planned for 17 September 2013. Marginal losses of -0.9% in Delta to 110c and OKZIM of -0.05% to 22c were also recorded. The tight liquidity prevailing resulted in a -67 % decline in values traded to $0.855m with the major contribution seen in Econet which took up $0.49m. The market maintained a net funds outflow trend established since the recent harmonized elections as disinvestments by foreigner topped $0.354m against outflows of $0.003m. Hotelier African Sun topped in the volumes of the day with an exchange of 2.9m shares at prior price of 2.05c.

African Currencies