Movers & Shakers: December 05, 2012

African Currencies

Botswana DCI -0.09%, USD 360k

Activity back to normal in Botswana. Most action in Letshego, the name closing at 196t while being approximately 45% of the daily turnover. Barclays also saw some action, closing at 655t while Turnstar was also relatively active and closed at 150t.

Egypt: EGX 30 +1.61%, USD 46m

The market managed to continue to trade higher today to end the day in positive territories, leaving the EGX30 to end the day up 1.61%. Market traded weak volumes compared to recent average turnovers, the market traded a total turnover of USD 46m, its worth mentioning that OCIC accounted for more than 10% of the total turnover. After Yesterday peaceful massive opposition protests were seen across Egypt, which in the eyes of the media turned out bigger than anticipated. One of which was in front of the presidential palace, causing security forces to retreat and the flee of President Morse, the market witnessed a sense of optimism lead by notable international institutions buying(Net-sellers yesterday), yet local institutions were aggrieves net-sellers after being the sole net buyers yesterday. OCIC lead the market in terms of performance and volumes, the name witnessed notable interest from international investors to end the day up 3.57%.

Investor mix:
•  Foreigners were net Buyers by 79.20 mn EGP and were 20.56% of the market.
•  Egyptians were net Sellers by 70.54 mn EGP and were 73.03% of the market.
•  Arabs were net Sellers by 8.66 mn EGP and were 6.41% of the market.
•  Institutions were net Buyers by 3.87 mn EGP and were 36.27% of the market.
•  Retail were net Sellers by 3.87 mn EGP and were 63.72% of the market.

Kenya: NSE 20 +0.02%, USD 5.5m

Equity turnover fell 11.7% today driven by decreased foreign participation at 31% of trades compared to 62% in the previous session. Bamburi was the day’s top mover accounting for 20.4% of volumes driven by local investor trading. The counter recouped losses made in the previous sessions climbing 1.1% to KES 179. Stanchart was also actively traded by local investors though it remained flat at KES 236. Despite strong foreign investor demand, Safaricom eased 1% to close at KES 5. Insurance counters CIC, CFCI and Britam dominated the top losers list edging down 7.5%, 5.1% and 3.3% respectively. Insurance firms are set to deliver better performance FY12 driven by the upturn in the stock market, as well as increased household disposable income leading to better insurance uptake. All top gainers today were on thin volumes except Kenya Power which gained 1.2% to KES 16.40, shrugging off foreign investor selling pressure.

Mauritius: Semdex +0.30%, USD 1.55m

Not quite on the same level as yesterday but still a rather active day with value traded amounting USD 1.55m while the market closed the day higher with the Semdex gaining 0.30% to close at 1,690.41. MCB lead the way in terms of activity thanks to a few decent crosses with a total of 200k shares traded. Rogers and SBM were alsoe rather active with 35k shares and 38k shares traded in the counters respectively. Selling pressure in NMH hotels was dominated by foreigners as a total of 53k shares traded.

Nigeria: ASI +0.20%, USD 13.36m

Some technical issues in Nigeria meant the live feeds were not flowing through to Bloomberg which meant many participants were flying blind for the session. As expected, activity was light across the board, just $13.36m changing hands while the index inched up 20bps. The BNK10 was the outperformer closing up 1.04%, most of this driven by Guaranty which closed up 4.11% at N19.74. Other names that were notable were PZ (+3.65%, N29) while both Dangote Flour and Dangote Sugar closed down (-1.63% and -87bps respectively). Cadbury also did well and closed up 2.96% at N27.80 as foreign appetite drives the name.

South Africa: Top 40 +0.61%, USD 1.55bn

The JSE ended the day higher with the Top 40 Index gaining 0.61% to close at 33,927 while value traded amounted to USD 1.55bn. Resources were the day's biggest gainers with the Index gaining 1.53% followed by Financials and Industrials which gained 0.31% and 0.01% respectively. The Rand was trading at 8.78 and 11.48 to the USD and EUR respectively.

Zambia: LuSE -0.13%, USD 3.6k

Activity completely dried up in Lusaka today with value traded amounting to a dire USD 3.6k. The names that traded included CEC, INVESTRUST, SCZ, ZAIN, ZNCO and ZSUG. CEC was the biggest contributor towards turnover with value traded in the name amounting to USD 1.9k. ZAIN was the second biggest contributor towards turnover with value traded in the name amounting to USD 711.

Zimbabwe Industrial -0.28%, Mining -1.54%, USD 1.51m

ZSE stocks lacked direction in mid week trades as the industrial index reversed yesterday’s gains losing 0.28% to 149.24points. Heavy cap stocks traded mixed as PPC, CBZ, OK, Econet and OK closed lower while Delta and Natfoods managed gains. Value traded rose 64% to $1.5m spurred by Econet and Delta despite a drop in overall volumes to 3.72m shares. Foreign participation was net sellers for the second consecutive session accounting for 44% ($0.659m) of the turnover in sales while purchasing 37% ($0.551m). Food processor CAIRNS were suspended from trading after the company voluntarily applied for judicial management bringing the total number of suspended stocks to eight as another micro stock sank raising more questions on the long term sustainability of the ZSE micro stocks. Cairns is riddled with debts after failing to recapitalize its operation as major shareholder RBZ struggled to find takers for its stake. The mining index lost for the fourth consecutive session easing 1.54% to settle at 65.05 points and is now 35.40% in the negative since January. FALGOLD (pared 12.50% to trade at 14 cents whilst HWANGE’s 2.94% gain to 17.5c was not enough.