Movers & Shakers: July 04, 2012

African Currencies as at GMT 15:30

Botswana: DCI Unch, USD 386k

The market remained level at 7239.36pts on vols of USD 386k. Letshego dominated the vols with 2,089,395 shares trading in the name at 140t, accounting for 98% of the day's turnover. Engen picked up 1t to end the day at 554t while Choppies lost 1t to finish at 166t.

Egypt: EGX 30 -1.39%, USD 64m

The market started the session higher to reach a high of 5024.44 points, yet after less 30min of trading the market started to witness weakness and started to trade with a negative sentiment. The EGX30 ended the day down 1.39% to close at 4914.94 points. Volumes were weaker than recent market volumes, market traded a total turnover of USD 64m. After being aggressive net buyers for last couple of weeks both local institutions and local retail investors ended the as the sole net-sellers in the market, as profit taking was evident in the market. HRHO managed to trade against the general market sentiment, the name ended the day up 3.29% to close at EGP11.29.

Investor mix:
•  Foreigners were net Buyers by 14.28 mn EGP and were 9.49% of the market.
•  Egyptians were net Sellers by 34.01 mn EGP and were 82.81% of the market.
•  Arabs were net Buyers by 19.73 mn EGP and were 7.8% of the market.
•  Institutions were net Sellers by 18.46 mn EGP and were 20.59% of the market.
•  Retail were net Buyers by 18.46 mn EGP and were 79.40% of the market.

Kenya: NSE 20 +0.04%, USD 5.63m

Relatively active day in Nairobi with value traded amounting to $5.63m. EABL was once again very active with foreigners accounting for basically all of the purchases in the name as 620k shares changed hands. Foreigners were on the sell side of Equity Bank today and accounted for 85% of total sales in the counter with 5.19m shares traded. There was substantial foreign demand in Kenya Commercial Bank (98% of total purchases) as 3.14m shares traded thanks to a few decent crosses. BATK was very active ahead of results due to be released on Friday as 160k shares traded with foreigners accounting for all of the purchases. Tullow announced that they are to accelerate drilling in Kenya after making the nation’s first discovery earlier this year. Foreigners were net buyers and accounted for $3.61m of total purchases while they accounted for $1.65m of total sales. The market closed the day slightly higher with the NSE 20 Index gaining 0.04% to close at 3,791.79.

Mauritius: Semdex -0.16%, USD 2.5m

The market ended the day in the red with the Semdex and the Sem-7 down 0.16% and 0.08% respectively. MCB traded flat at Rs170 with 199,500 shares trading. SBM on the other hand, increased by 0.6% to close at Rs83. At market opening, Terra witnessed a cross of 300k shares at Rs38.20 but ended the day unchanged at Rs38.40 on 50 shares. IBL gained 0.6% to Rs79. On the Dem side, Fides slid by 2% to Rs97. Fuel improved by 0.3% to Rs31, DRBC was up 1.3% at Rs30.60 while UFL traded 4.2% higher at Rs20.

Nigeria: ASI +1.11%, USD 14.65m

The market opened stronger and the positive trend from the previous session continued right up until the close, +1.11%. The activity levels were much improved but are still nowhere near where we would like them. The banks led the way, as is often the case, collecting +2.03% with Zenith the notable outperformer +4.95%, Access closed +5.0% in the black while strangely FBN lost -1.79%. The cement sector was mixed. The conglomerates had a stellar day, PZ +4.51%, UACN +2.7% and Unilever +4.1%, DangF was another strong very strong performer +4.94%. Dangote Flour Mills ("DFM") Plc has notified The Exchange that in furtherance to its earlier announcement, the company is aware that its majority shareholder Dangote Industries Limited ("DIL") and Tiger Brands Limited ("Tiger") have reached an agreement in principle regarding the terms of a potential transaction that would, if implemented, result in Tiger's acquisition of 63.35% 0f DFM's issued capital. The proposed share sale and purchase agreement ("SSPA") has been submitted to the Securities and Exchange Commission (SEC) for approval. Whenever SEC approves the terms and conditions of the SSPA, DIL and Tiger intend to execute the SSPA and upon fulfillment of all conditions precedent, Tiger will become the majority shareholder in Dangote Flour Mills Plc.

South Africa: Top 40 +0.14%, USD 1.23bn

The JSE ended the day higher with the Top 40 Index gaining 0.14% to close at 29,906 while value traded amounted to USD 1.23bn. Industrials were the day's biggest gainers with the Index gaining 0.40% followed by Resources which gained 0.08% while Financials fell 0.48%. The Rand was trading at 8.14 and 10.20 to the USD and EUR respectively by the time local markets closed.

Zambia: LuSE +0.44%, USD 6k

Extremely quiet in Lusaka with value traded amounting to a paltry 6k. The names that traded included BATA, CCHZ, CECZ, SCBL and ZNCO. CECZ was the biggest contributor towards turnover with value traded in the name amounting to USD 2.4k. ZNCO was the second biggest contributor towards turnover with value traded in the name amounting to USD 2.3k.

Zimbabwe: Industrial Index +0.61%, Mining UnCh, USD 2.9m

The equities market rebounded in mid week trades supported by gains in heavy cap counters in an active session. Turnover doubled to $2.969m from $1.367m spurred by foreign participation in Delta, Econet, Innscor and Edgars. The industrial index rose 0.61% to settle at 132.78pts. CBZ led the risers putting on 23.08% to 11.2c albeit on this volumes. Delta and Innscor rose 1c apiece to 66c and 55c, Seedco added 0.99c to 86c as Fidelity advanced 1c or 7.69% to 14c. Afre and Old Mutual pared 1c apiece to 5c and 165c respectively as Turnal slipped 7.69% to 6c. The mining index was steady at 75.19points as there was little activity in the sector. Hwange was the only stock to record at trade at a stable price at 23c.