Movers & Shakers: December 11, 2012

African Currencies

Botswana DCI -0.17%, USD 770k

Much better day in Gaborone thanks to a cross in Letshego with value traded amounting to USD 770k while the market closed the day lower with the DCI falling 0.17% to close at 7,503.14. Chobe was the only counter that witnessed a price movement today with the name gaining 1t to close at 251t.

Egypt: EGX 30 +0.81%, USD 26m

The market ended the day in the greens on record low volumes, the EGX30 ended the day up 0.81% to close at 5,016.64 points. The market traded the lowest volumes since July, the market traded a total turnover of USD 26m. International institutions continue to be the sole net buyers in the market and local retail as net-sellers, yet local institutions trading was static as they accounted for less than 11% of the total turnover, this mainly attributed to tensions increasing with the calls for massive protests from both supporters and oppositionists, which might spark some clashes. The market is expected to stay static this week with the opposition continue to protest against the referendum which is set to be next Saturday and expats to vote tomorrow adding to this 9 out 14 of the Judges clubs refused to oversee the referendum.

Investor mix:
•  Foreigners were net Buyers by 11.31 mn EGP and were 28.02% of the market.
•  Egyptians were net Sellers by 14.73 mn EGP and were 64.99% of the market.
•  Arabs were net Buyers by 3.42 mn EGP and were 6.99% of the market.
•  Institutions were net Buyers by 5.12 mn EGP and were 35.18% of the market.
•  Retail were net Sellers by 5.12 mn EGP and were 64.81% of the market.

Kenya: NSE 20 +0.49%, USD 10m

Please note that Kenya is closed tomorrow for a public holiday (Jamhuri Day). In today’s session, it was all about 2 counters – Safcom and Bamburi Cement. Large local crossing in BMBC made the normally illiquid name the most active name for the day with $4.23m changing hands in the name while the name closed up 1.6% at KES185. Safcom saw a mix of local and foreign selling while the buy side was 100% foreign with the name closing down 1% at KES5.00. EABL touched a high of KES260 before settling +1.2% for the day at KES257. KCB and Equity Bank also saw mild trading and closed at KES27.50 and KES23.25 respectively. Scangroup gained an impressive 5.6% (KES66) as foreign demand pushed the name higher.

Mauritius: Semdex -0.11%, USD 892k

Another rather quiet day in Mauritius with value traded amounting to USD 892k while the market closed lower with the Semdex falling 0.11% to close at 1,708.65. Another mixed day for the two major banks with SBM falling 1.09% to close at 91.00 while MCB gained 0.60% to close at 167.00, both were however on very small volume. Cim Financial Services released FY 2012 results which saw an increase in profits of 6%.

Nigeria: ASI +0.85%, USD 16.29m

A sprightly session in Lagos as we witnessed a slight uptick in turnover and once again all sub sectors closed in the green. In what feels like Groundhog Day, volumes were yet again driven by the banks and NB while performance was driven by the BNK10. The banks were strong and active, Fidelity (+5.14%, N2.25), FCMB (+4.38%, N3.34) and FBNH (+2.83%, N15.60) the main drivers while the most active stocks were Zenith, Guaranty and FBNH. Nigerian Breweries started quietly before some aggressive buying pushed the name up 2.07% to close at N148.00. 7UP was driven limit up 10% by strong buyers on reasonable volume. Nestle was also attractive and closed up 2.51% at N675.06.

South Africa: Top 40 +0.49%, USD 1.6bn

The JSE touched record highs yet again today driven by a late rally in resources (+1.1%). The large cap diversified miners were the main drive behind this. Financials (+76bps) were also strong while Gold fell by 1.01%. The ZAR was trading at 8.68, R11.28 and R13.99 vs the USD, EUR and GBP respectively at the time of writing.

Zambia: LuSE -0.03%, USD 36k

Better day today but still very quiet with value traded amounting to USD 36k. The names that traded included CEC, NATB, PUMA, REIZ, ZNCO and ZSUG. REIZ was the biggest contributor towards turnover with value traded in the name amounting to USD 32k. NATB was the second biggest contributor towards turnover with value traded in the name amounting to USD 1.7k.

Zimbabwe Industrial -0.11%, Mining unch, USD 1.25m

ZSE stocks continue trending southwards as the mainstream index eased a further 0.11% or 0.17points to close at 147.88points weighed down by losses in seed manufacturer, SEEDCO and dually listed Old Mutual. Seedco was the major victim of selling pressure after losing 8.67% or 6.50c to a 52-week low as investors offload the stock following a disappointing interim results presented two week ago. Old Mutual lost 1.25% or 2c to 158c. Trading activity improved boosted by a block trade in banking stock Barclays and Econet. Volumes traded rose 310% to 14.48m shares while turnover rose 205% to $1.25m. Barclays and Econet accounted for 77% of value traded. Foreign participation was net outflow as sales totaled $0.857m against purchases of $0.279m. The mining index remained steady at 65.94points with only Bindura recording a trade. The Nickel producer was steady at 1.3c in the wake of its interims released today.