Movers & Shakers: July 28, 2013

Botswana: Closed for the day.

Egypt: Closed for the day.

Kenya: NSE 20 -0.41%, USD 4.2m

The market witnessed improved volumes with equity turnover doubling, on increased foreign investor participation at 63% of trades compared with 40% in the previous session. Overall foreign investors were net sellers in the market. The NSE 20 index reversed previous session’s gains easing 0.41% today. Equity Bank was the day’s top mover accounting for 35% of volumes, with foreign investors providing most of the supply on the counter and local investors accounting for most of its demand. Liberty insurance recovered from previous selling pressure gaining 6% to KES 10.55. National Bank gained 2.16% to KES 21.45. The Bank has been undergoing a re-branding process to help it shed its parastatal image to a more corporate image. KCB also extended its gains climbing 1.3% to KES 37.49.With the end of the second half of the year banking counters are set to start announcing half year earnings toward the end of July. On the losing end KenolKobil did not get any reprieve today slipping further 0.1% to KES 8.79. TPS Serena reversed previous session gains edging lower 2.2% to KES 45.

Mauritius: Semdex -0.28%, USD 417kk

Slow start to the new quarter in Mauritius with value traded amounitng to a dull USD 417k. SBM (3.89m shares) and MBC (17k shares) drove activity with MCB falling 0.13% while SBM closed the day flat. There was also a decent amount of activity in Alteo as a total of 100k shares traded thanks to a cross at Rs35.60.

Nigeria: ASI -0.91%, USD 12.03m

It was an exceptionally slow start to the third quarter in Lagos with value traded amounting to a very dull $12.03m. The only names worth mentioning form an activity point of view were Guaranty Trust Bank ($3.23m) and Nigerian Breweries ($1.02m) as there were a few decent crosses in the counters. DangCem was a drag on the market, falling -1.10% to close at 180.00. The recent rally in banking stocks ended with the Bank 10 Index falling -0.85% as the selling was broad based across the sector. Consumers also ended the day lower with the Consumer Goods Index falling -0.79% on the back of Flour Mills (-5.88%) and UACN (-5.05%).

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

South Africa: Top 40 +0.90%, USD 1.35bn

The JSE ended the day higher with the Top 40 index gaining 0.90% to close at 35,365 while value traded amounted to USD 1.35bn. Resources were the day's biggest gainers with the Index gaining 1.31% followed by Financials and Industrials which gained 0.81% and 0.69% respectively. The Rand was trading at 9.89 and 12.91 to the USD and EUR respectively by the time local markets closed.

Zambia: Market closed for the day.

Zimbabwe: Industrials -0.10%, Mining -1.21%, USD 890k

The ZSE started the second half on a low note with the industrials easing -0.10% to close at 210.98pts while minings were down -1.21% to close at 72.40 pts. Brewer Delta continued to trade soft shedding -0.8% to 138.94c but closed on a tight quote of 137c – 138.95c heralding imminent support. Retailer OK experienced a minor correction losing a marginal -0.18% to 22c where firm demand was showing. Dairibord which has been on a losing streak since issuing its first half profit warning tumbled -0.8% to 24.80c as it seeks to find its right trading level. Today’s session saw volumes and values traded declining -95% and -86% to 3.3m and $0.890m respectively.

African Currencies