Movers & Shakers: February 26, 2014


Botswana: DCI -0.08%, USD 2.4m

Gaborone finally came to life as some chunky trading in BIHL (1066t) dominated proceedings. There was also some activity in FNBB (401t), Letshego (239t) and Sefalana (730t).

Egypt: EGX 30 -0.39%, USD 129m

As expected, the market ended the day in the red leaving the EGX30 to end day down 0.39% to close at 7,998.30 points. The market traded weaker volumes compared with recent turnovers, with a total turnover of USD 129m. In line with our call, the market traded the day with negative sentiment where profit taking was evident mainly from local institutions followed by international institutions. Names such as ESRS, GTHE, and AMER witnessed some selling pressure leaving each to end the day down 1.17%, 1.41%, and 1.39% respectively, yet local retail investors ended the day as net buyers targeting mostly small/mid caps such as ACGC (+3.81%), EKHO (+0.91%), and OTMT(+0.77%).

Kenya: NSE 20 +0.57%, USD 15.1m

A mammoth cross of 17m shares in Kenya Commercial Bank at KES 43.75 with both the buyer and the seller being foreign helped boost activity to $15.1m. All eyes will be on the two big banks tomorrow with Kenya Commercial Bank reporting earnings before the open while Equity Bank reports after the close. Equity Bank was also rather active with foreigners dominating sales as 3.28m shares changed hands. EABL (-0.7%) came off a bit today after a few very strong days with the brewer closing at KES 268.00.

Mauritius: Semdex -0.14%, USD 275k

A quiet and uneventful day in Port Louis ahead of tomorrow’s public holiday. The Sem-7 lost 3bps with NMH being the only stock to change prices as it lost 30bps to Rs83.75. Please note the market is closed tomorrow for the public holiday. Some economic news out showed that tourist arrivals for 2013 increased 2.9%.

Nigeria: ASI -0.76%, USD 21.65m

There was some profit taking in banking stocks today which dragged the broader market lower with the Bank Index falling -0.33%. Tier-1 banking stocks UBA (-1.94%) and Zenith (-1.22%) were amongst the biggest losers in the sector. Consumers (-0.69%) were also slightly weaker today as Nestle (-2.61%) weighed on the sector after reporting FY 2013 results which saw PAT increase 6%. On the positive side, Guinness put in a solid performance and managed to gain 5.0%. Activity was rather dull as value traded amounted to $21.65m as Guaranty Trust Bank ($3.57m) and Zenith Bank ($3.29m) drove activity.

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

South Africa: Top 40 +0.22%, USD 1.39bn

The JSE ended the day higher with the Top 40 Index gaining 0.22% to close at 42,535 while value traded amounted to USD 1.39bn. Industrials were the day's biggest gainers with the Index gaining 0.40% followed by Resources which gained 0.04% while Financials fell 0.15%. The Rand was trading at 10.82 and 14.78 to the USD and EUR respectively by the time local markets closed.

Zimbabwe: Industrials -0.47%, Mining +4.58%, USD 2.58m

A special bargain in Seedco lit up the Harare bourse today after a few weeks of muted activity. The special bargain was a local seller and foreign buyer. In other trading, Delta fell by 80bps to 122c while BAT softened by 37bps to 1340c. Econet remains rather firm and traded at 64.71c albeit on tiny volumes.

African Currencies

Country

Notation

Currency

YTD %

South Africa

ZAR

10.82

-3.01

Nigeria

NGN

164.75

-2.70

Kenya

KES

86.50

-0.23

Mauritius

MUR

30.10

-0.17

Botswana

BWP

8.88

-1.66

Tanzania

TZS

1624.00

-2.09

Uganda

UGX

2513.00

0.56

Rwanda

RWF

681.51

-0.81

Ghana

GHS

2.50

-5.24

BRVM

XOF

482.91

-0.58

Egypt

EGP

6.96

-0.19

Morocco

MAD

8.22

-0.45

Tunisia

TND

1.58

+3.60

contacts
  • Bermuda +1 441 278 7620
  • South Africa +27 11 268 5833