Movers & Shakers: December 09, 2013

Botswana: DCI +0.37%, USD 289k

Not much on the go in Gaborone today as value traded amounted to USD 289k with WIL (400k shares) and FNBB (255k shares) driving turnover.

Egypt: EGX 30 -0.24%, USD 55m

After yesterday’s strong close the market traded the day with a mixed sentiment to end the day in lower, leaving the EGX30 to end the day down 0.24% to close 6,468.26 points. The market continues to trade weak volumes yet a slight improvement yesterday’s volumes, the market traded a total turnover of USD 55m. The market started the day with a negative sentiment pressured by retail investors profit booking, after a couple of minutes of trading the market managed to trade in the greens to reach a high of 6,501.03 points mainly lead by institutional investors targeting names such as EKHO(+1.09%), JUFO(+0.38%) and SWDY(+0.07%), yet retail investors managed to pressure the market again to trade in the reds targeting names such as PHDC (-1.94%), AMER(1.52%), and HRHO(-1.18%).

Kenya: NSE 20 -0.15%, USD 6.2m

It was a rather padestrian start to the week in Nairobi but turnover remained fairly robust thanks to a few crosses as value traded amounted to $6.2m. A cross in EABL early in the session got things going with foreigners on the sell-side while locals were buyers as a total of 602k shares traded over the day. Foreign demand (90..5%) drove activity in Safcom as a total of 12.7m shares traded. Foreign sellers put Kenya Commercial Bank under pressure as the counter fell -0.6% to close at KES 44.75. Please remember that the market will be closed on Thursday and Friday due to public holidays.

Mauritius: Semdex +0.50%%, USD 919k

It was a rather slow start to the week in Port Louis as value traded amounted to USD 919k with MCB accounting for more than half of the day's turnover as 72k shares traded thanks to a cross. Banking peer SBM was very quiet as 2.39m shares traded.

Nigeria: ASI +0.02%, USD 21.8m

A mostly dull day although some crosses helped turnover to a reasonable level. The bankd rebounded by 40bps with Tier 1 banks leading the way in terms of direction and volumes. Some chunky crosses in GTB (+7bps, N26.93) and Zenith (+90bps, N21.39) led the way closely followed by Access (+83bps, N9.70). Transcorp continues to be one of the most liquid names on the NSE and closed today up 48bps at N4.20 on big volumes. Consumers were little changed on the day and outside of NB (-53bps, N161.14) hardly anything was going on.

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

South Africa: Top 40 +0.31%, USD 1bn

The JSE ambled along very quietly with no conviction. The Rand remained pretty resilient and was trading at R10.33, R16.93 and R14.18 vs the USD, GBP and EUR respectively.

Zimbabwe: Industrials -0.75%, Mining -3.9%, USD 3.66m

In the aftermath of last week’s splurge in dollars on the ZSE in all sessions, Monday trades were indifferent as value traded topped $3.66m up 84% from Friday values. Trades were predominantly in the heavy caps where foreigners continue to drive value on both the selling and buying sides, with demand seemingly spurred by the weaker market performance. Volumes however retraced with an 88% decline to 6.62m shares as heavies dominated trades. Econet was the top traded counter with a 70% contribution as trades sailed at its now stable price of 63c. The mainstream industrial index slide further by a magnitude -0.75% to 209.59 pts on selling pressure as the stock market rerates downwards on lower than expected earnings and fundamental structural weaknesses in the economy. Delta came off 1.3% to 148.9c while a coterie of mid cap stocks dominated the downside.

African Currencies