Movers & Shakers: January 09, 2014

Botswana: DCI +0.10%, USD 56k

Activity slowed down completely today in Gaborone as value traded amounted to a paltry USD 56k with Choppies accounting for 75% of turnover.

Egypt: EGX 30 +1.27%, USD 110m

The market managed to keep its positive momentum supported by notable buying accumulation from GCC institutional investors, leaving the EGX30 to end the day up 1.27% to close at 6,975.04 points. Market volumes continued to be strong, with a total turnover of USD 110m. The market started the day with news EFG Hermes' BOD approved a EGP1 billion share buyback as the name skyrocketed at the open to trade +10% yet the market authority decided to cancel all trades for today and yesterday leaving the name to open at Monday's close (EGP8.90). After resuming trading the name was bid at limit up (+10%) on huge volumes (30 million shares) yet there were no offers. Names such as ESRS, AMER, and PHDC continued to gain notable interest leaving each to end the day up 3.36%, 3.75%, and 2.61% respectively. Some minor profit booking was witnessed in small caps mainly lead by local retail investors targeting names such as AIND (-2.14%), SVCE (-0.95%), and UNIT (-0.14%).

Kenya: NSE 20 +0.67%, USD 9.7m

Activity continued to increase in Nairobi today with value traded amounting to a very pleasing $9.7m on the back of strong foreign participation. Safcom's strong start to the year continued today as the telco gained 3.1% to close at KES 11.70 on foreign demand with 24.75m shares changing hands. Foreigners also dominated activity in Kenya Commercial Bank and EABL as 2.35m shares and 373k shares traded in the names respectively with some large crosses going through in both names. Equity Bank (-0.70%) fell for a second successive day on the back of foreign selling.

Mauritius: Semdex +0.41%, USD 2.48m

Another robust day in Port Louis in terms of activity as value traded amounted to USD 2.48m as MCB accounted for more than 50% of the day's turnover on foreign demand as 178k shares traded over the day. SBM was also very active as 14.2m shares traded with both banks closing higher, SBM at Rs1.05 while MCB closed at Rs 216.00. Activity picked up slightly in NMH as 39k shares traded.

Nigeria: ASI -1.12%, USD 20.3m

There was unfortunately not much on the go in Lagos today as value traded fell to a rather slow $20.3m. Banking stocks (+0.80%) however managed to get some respite from the recent sell-off as Zenith Bank (+1.94%) and UBA (+1.52%) managed to drive the sector higher. Consumers however came under a bit of pressure with the index falling -0.47% thanks to moves lower in Unilever (-2.70%) and Nigerian Breweries (-0.95%). It was the usual suspects that drove activity with Guaranty Trust Bank ($3.05m), Zenith Bank ($2.83m) and Nigerian Breweries ($2.58m) being amongst the most active. DangCem (-4.17%) however came under some pressure after a few strong days and drove the ASI lower.

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

South Africa: Top 40 -0.59%, USD 956m

The JSE ended the day lower with the Top 40 Index falling 0.59% to close at 40,719 while value traded amounted to USD 956m. Resources were the day's biggest losers with the Index falling 1.19% followed by Industrials and Financials which fell 0.46% and 0.21% respectively. The Rand was trading at 10.81 and 14.69 to the USD and EUR respectively by the time local markets closed.

Zimbabwe: Industrials +0.42%, Mining -2.08%, USD 2.6m

Delta continued to be the most sought after stock on the ZSE shoring up $1.95m and was 75% of the day’s $2.6m turnover. Second and distant in contribution was telecoms giant Econet which took up $0.4m and 16.2% of value of trades. Meanwhile the industrial Index was firm for the third consecutive day adding +0.42% or +0.84pts to 202.76pts. This was largely on the back of the +0.71% gain in Delta to 141c and Econet’s +0.31% rise to 61.20c as firm demand remained in both. Also trading in the positive were bankers Barclays that rebounded +5.3% to 4c reversing yesterday’s loss.

African Currencies