Movers & Shakers: July 03, 2012

African Currencies as at GMT 15:30

Botswana: DCI +0.02%, USD 57k

The market ended Tuesday's session on a flat note. Turnover stood at USD 57k with BIHL accounting for 54% of this. 23,019 shares traded in the name 10t higher at 1036t. Letshego was unchanged at 140t on 5,404 shares. WIL was down 5t to end the day at 320t.

Egypt: EGX 30 +0.84%, USD 101m

The market started the day with a negative sentiment to reach a low of 4867.10 points, the main sellers were international institutions and local retail investors. By med-day the market started to witness notable buying across the board, leaving the EGX30 to end the day up 0.84% to close at 4,984.13 points on strong volumes. The market traded above average volumes, market traded a total turnover of USD 101m. Local retail investors ended the day as net-sellers, this was mainly attributed to profit taking this came after being net buyers for the last couple of weeks. COMI continues to witness aggressive buying, the name ended the day up 5.68% to close at EGP29.39 on volumes of 1.86mil shares.

Investor mix:
•  Foreigners were net Buyers by 9.05 mn EGP and were 23.62% of the market.
•  Egyptians were net Sellers by 43.21 mn EGP and were 67.89% of the market.
•  Arabs were net Buyers by 34.16 mn EGP and were 8.49% of the market.
•  Institutions were net Buyers by 15.94 mn EGP and were 33.73% of the market.
•  Retail were net Sellers by 15.94 mn EGP and were 66.26% of the market.

Kenya: NSE 20 +0.69%, USD 3.69m

Another rather average day in Kenya with value traded amounting to $3.69m. Equity Bank was very active with 7.47m shares changing hands thanks to a few large crosses where foreigners accounted for the majority of the sales (81%). Decent amount of activity in Safcom with 12.15m shares traded as foreigners accounted for 97% of purchases while they accounted for 82% of sales in the counter. COOP was surprisingly active with 3.82m shares traded thanks to a few cross as locals accounted for all the volume on both sides of the name. Foreigners were net sellers for the second day in a row as they accounted for $2.16m of total sales while they accounted for $1.78m of total purchases. The market closed the day higher with the NSE 20 Index gaining 0.69% to close at 3,790.07.

Mauritius: Semdex +0.09%, USD 893k

A new listing on the Dem was announced for Bharat Telecom which will commence trading on the 11th of July 2012 at Rs50. MCB edged up 0.59% at Rs170 while SBM was level at Rs82.50. NMH was down 1.52% at Rs65 while Rogers lost 0.92% at Rs322. Investment company Terra saw crosses of 97.7k and 32k shares at Rs38.40. Bramer Bank lost 0.6% to end at Rs8.50.

Nigeria: ASI +0.55%, USD 10m

It was another disrupted session with technical issues causing a delay in the trading session and these technical issues have also meant that it is difficult to get accurate data from the exchange. Please bear in mind that there might be inaccuracies in the numbers presented here. The market continues to trade on really thin vols, $10m seems to be a ceiling that is just too high to lift above at the moment. The banks had another strong day with the Bank 10 closing +0.56% higher with all the big names closing higher, UBA +4.85% and GTB +2.61%. The trading activity that did happen was focused in the usual suspects - Guinness, FBN, GTB, NB and Zenith.

South Africa: Top 40 +1.02%, USD 1.20bn

The JSE ended the day higher with the Top 40 Index gaining 1.02% to close at 29,864 while value traded amounted to USD 1.20bn. Financials were the day's biggest gainers with the Index gaining 1.20% followed by Industrials and Resources which gained 0.97% and 0.94% respectively. The Rand was trading at 8.07 and 10.19 to the USD and EUR respectively by the time local markets closed.

Zambia: Public Holiday

Zimbabwe: Industrial Index -0.08%, Mining -0.17%, USD 1.4m

The equities market posted weak performance in Tuesday trades with both indices closing in the red. The industrial index slipped 0.08% to 131.97pts while the mining index lost 0.17% to 75.19points. GB led the losers after giving up 73.33% to 0.08c. AICO eased 4.39% to 8.5c. OK Zim reversed yesterday’s losses to add 0.20c to 10.50c as Fidelity recovered a further 0.50c to 13c. Meikles which topped 18.50c yesterday was steady at 18.50c on a notable volume of 291 000 units as it starts to show signs of early profit taking. Delta, Innscor and Seedco all traded steady at previous levels with notable appetite especially from foreign investors. Trading activity was much thinner than yesterday though more stocks recorded activity. Total turnover stood at $1.4m with foreign investors accounting for 50% of the trades.