Movers & Shakers: December 04, 2012

African Currencies

Botswana -0.19%, USD 2.44m

Very active day in Gaborone today with value traded amounting to USD 2.44m with crosses in Turnstar and Letshego driving activity. The market closed the day lower with the DCI falling 0.19% to close at 7,553.34. Sechaba (1,571t, +1t) was the only name that closed higher on the day while BIHL (1,034t, -1t), FNBB (279t, -1t) and Letshego (195t, -10t) all closed lower.

Egypt: EGX 30 +3.46%, USD 62m

Against all odds the market ended the day notably higher, leaving the EGX30 ended the day up 3.46% to close at 4991.59 points. Market volumes improved relative to recent volumes, the market traded a total turnover of USD 62m. Trading started today with a notable apatite from local and international investors, yet local investors continue to notable seller in the market, this is mainly attributed to fears of further escalation and clashes between supporters and oppositionists of the president's decree, massive protests is expected to be seen across the country today from Non-Islamists political powers. In addition, marches towards the presidential palace, calls for civil disobedience and open sit-ins. Names such as COMI, PHDC and OCIC lead the market in terms of volumes, each ending the day up 4.63%, 4.74% and 3.86% respectively.

Investor mix:
•  Foreigners were net Buyers by 4.34 mn EGP and were 21.48% of the market.
•  Egyptians were net Sellers by 8.77 mn EGP and were 69.10% of the market.
•  Arabs were net Buyers by 4.43 mn EGP and were 9.42% of the market.
•  Institutions were net Buyers by 18.49 mn EGP and were 33.56% of the market.
•  Retail were net Sellers by 18.49 mn EGP and were 66.43% of the market.

Kenya: NSE 20 -0.16%, USD 6.2m

Equity turnover climbed 27.4% today with foreign investors accounting for a majority (62%) if the day’s trades. The NSE 20 continued to decline sliding 0.16% heading towards the 4000 points mark. Safaricom was the day’s main feature accounting for 39% of volumes with foreign investors being net buyers on the counter. Scan group also witnessed strong foreign investor demand though the counter remained flat at KES 66. All top gainers today were on thin volumes. Kenya Airways led the top losers list easing 2.6% to KES 11.30, following a court ruling reinstating workers the airline had retrenched in October. The airlines management said they are in the process of reinstating the workers and sending them on leave awaiting redeployment. The retrenched workers have however rejected the airlines offer to send them on leave.

Mauritius: Semdex -0.10%, USD 7.97m

The big news today was a large cross of 5.08mill shares in NMH at Rs45.60. This was 94% of the daily turnover and because the cross went through on the crossing board the name technically closed down just 3.51% at Rs55. Among the banks, MCB gained 60bps to close at Rs162 while SBM ended unchanged at Rs89.50.

Nigeria: ASI -0.01%, USD 11.77m

The dull volumes continue in Lagos although the banking sector rebounded (BNK10 +53bps). The banks leading the charge were ETI (+2.55%, N11.28), UBA (+4.18%, N4.49) and Access (+2.99%, N8.96) while FCMB, Skye Bank and Stanbic all closed in the red. The most action was seen in Nigerian Breweries with the name strong for most of the session before selling off towards the close to finally close at N140.01 (-1.4%). Nestle also saw some decent activity with the name closing up 95bps at N656.20 as foreign buying returns.

South Africa: Top 40 -0.23%, USD 1.13bn

The JSE ended the day lower with the Top 40 Index falling 0.23% to close at 33,721 while value traded amounted to USD 1.13bn. Resources were the day's biggest losers with the Index falling 0.81% followed by Financials which fell 0.03% while Industrials gained 0.19%. The Rand was trading at 8.81 and 11.53 to the USD and EUR respectively by the time local markets closed.

Zambia: LuSE +1.16%, USD 203k

Much better day in Zambia with value traded amounting to USD 203k thanks to a cross in SHP. The names that traded included BAT, CEC, SHP, ZAMEFA and ZSUG. SHP was the biggest contributor towards turnover with value traded in the name amounting to USD 188k. CEC was the second biggest contributor towards turnover with value traded in the name amounting to USD 5.8k.

Zimbabwe Industrial +0.21%, Mining -2.62%, USD 920k

Gains in Delta and Barclays helped the equities market recover from three days of losses. The industrial index gained 0.21% to close at 149.66 points as local buying in DELTA saw the group rise 1.08% to 94c while Barclays recovered 4.76% to 2.2c. Other gains were in micro stocks Willdale (33.3%), ZPI (1.82%) and Ariston (7.69%). Telecoms giant Econet recorded no trades and bids and offers 480c and 485c respectively. Innscor, DZL, OK, AICO and Hippo all traded unchanged. Trading activity improved as volumes doubled to 4.56m shares while turnover was 56% up to $0.920m. Foreign portfolio movements were net outflows in Delta and Barclays. Foreign inflows amounted to $0.173m against sales of $0.307m. The mining index lost 2.62% to close at 66.07 points and has now lost a cumulative 34.29% since January. BINDURA eased 14.29% to 1.20 cents whilst Falgold, Hwange and RIOZIM were unchanged at previous trading levels.