Movers & Shakers: December 02, 2013

Botswana: DCI unch, USD 54k

Nothing on the go in Gaborone today as value traded amounted to USD 54k with Choppies accounting for most of the volume.

Egypt: EGX 30 -0.31%, USD 52m

The market traded on mixed sentiment to end slightly lower, with the EGX30 down 0.31% to close 6,248.49 points. Market volumes were relatively weak compared to recent average turnovers, with shares worth USD 52m changing hands. The market started the day with notable positive sentiment, reaching a high of 6,307.95 points mainly lead by the positive news on PHDC chairman Yassin Mansour returning to Egypt after leaving the country after the January 25 Revolution. PHDC witnessed above-average volumes to reach a high of EGP2.84 (up 5.57%), yet the lack of catalyst pressured the name along with the whole market today day. Institutional investors ended the day as net sellers targeting names such as ETEL (-1.17%), ESRS (-1.63%), and EKHO (-1.10%). Names such as COMI (+0.62%), ACGC (+1.18%), and HRHO (+0.85%) witnessed some buying interest.

Kenya: NSE 20 -0.55%, USD 5.4m

It was a decent start to the week in Nairobi as value traded amounted to $5.4m. A large cross in EABL dominated activity with foreigners on both sides of the name as a total of 561k shares traded in the counter. NIC saw unusually large volumes traded accounting for 14% of trades, with local investors accounting for all of the activity on the counter. Foreigners dominated activity in Kenya Commercial Bank as 602k shares traded with the bank falling -2.6% to close at KES 46.75.

Mauritius: Semdex +0.01%, USD 308k

It was an extremely slow start to the week in Port Louis as value traded amounted to $308k. ENL was the msot active stock on the day as 39.5k shares traded while MCB (6k shares) and SBM (899k shares) were very quiet.

Nigeria: ASI +0.32%, USD 10.77m

It was a dire start to the week in Lagos as value traded amounted to a paltry $10.77m. The blue chips were rather quiet with no real block trades taking place today as Zenith Bank ($2.57m) and Guaranty Trust Bank ($1.29m) drove activity. The rollercoaster ride in Transcorp continued today with the counter gaining +4.78% to close at N3.73 on volume of 42m shares. Banks closed the day higher with the Bank 10 Index gianing +0.46% thanks to strong moves in Zenith (+2.13%) and First Bank (+1.18%). Consumers also ended the day higher with the Consumer Goods Index gaining +0.34% thanks to Dangote Sugar (+3.27%).

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

South Africa: Top 40 -0.74%, USD 807m

The JSE ended the day lower with the Top 40 Index falling 0.74% to close at 39,871 while value traded amounted to USD 807m. Resources were the day's biggest losers with the Index falling 1.55% followed by Industrials and Financials which fell 0.62% and 0.06% respectively. The Rand was trading at 10.25 and 13.90 to the USD and EUR respectvely by the time local markets closed.

Zimbabwe: Industrials +0.41%, Mining unch, USD 6.29m

The market shrugged off sideways trading experienced last week to open in the black on heavy weight gains in week opening session. OK, Econet and Delta inspired the movers recovering 5%, 0.7% and 1.29% to 21c, 151.05c and 63c respectively. The Mining Index was stable at 47.02 for the 5th straight session recording nil trades in today’s session. 7 counters were on the upside compared to 4 fallers in a session that saw 7.81m shares exchange hands. Turnover came in at $6.28m and was 375% ahead of prior level spurred by a special bargain in Delta of 3m shares at 150c, with 0.1m shares sailing at 151.05c in normal trades. The trade had a consideration of $4.5m and accounted for 74% of the total value traded and had foreign players participating on either side. Notwithstanding the challenges bedeviling the economy foreigners continue to drive value on the ZSE. Since October 1st foreigners have pumped in a total $56.8m on the local bourse which accounted for 64% of the overall turnover. In today’s call foreign inflows stood at $5.9m being skewed towards blue chips Delta and Econet aggregating 93% of the total purchases as foreigners continue cherry picking in the blue chips.

African Currencies