Movers & Shakers: July 04, 2013

Botswana: DCI +0.02%, USD 139k

It was pretty much a nothing day in Gaborone with value traded amounting to USD 139k. As can be expected market breadth was very thin as only small volumes were registered in a few of the names.

Egypt: EGX +7.31%, USD 63m

The Egyptian Stock Market Erupts in Celebration: One of the most bullish trading sessions in the EGX history that led to the EGX30 up 7.31% at market close at 5,334.54 points. Market volumes significantly improved, trading a total turnover of USD 63m. The sense of euphoria witnessed in Egypt last night was channeled by the local investors whose buy orders propelled the market upwards by +5.00% in the first seconds of the trading session; this was followed by a massive rally in various names such as COMI, which basically exploded on screen with more than 3.6 mil shares bid at 34.91(+10%) and almost zero sell offers on screen. The real-estate sector also witnessed a massive rally were names such as PHDC, TMGH and OCDI traded the entire day at limit up (+10%); adding to this there was basically almost NO offers on screen. After this sense of euphoria, a return to the fundamentals and macro picture is expected soon, but it is safe to say that the clean removal of the Muslim Brotherhood overhang is sufficient in exciting the investors today.

Investor mix:
•  Foreigners were net Buyers by 102.52 mn EGP and were 32.08% of the market.
•  Egyptians were net Sellers by 140.30 mn EGP and were 58.82% of the market.
•  Arabs were net Sellers by 37.78 mn EGP and were 9.11% of the market.
•  Institutions were net Sellers by 120.28 mn EGP and were 46.41% of the market.
•  Retail were net Buyers by 120.28 mn EGP and were 53.58% of the market.

Kenya: NSE 20 +0.25%, USD 7.2m

The equities market extended its gains with most top mover registering gains. The NSE 20 index gained 0.25% to close at 4,574.1 points, with 21 of the counters traded gaining and 17 declining. Equity turnover also improved 16.2% with foreign investors continuing to account for a majority of trades (participation at 63%). Driven by high foreign investor activity especially on the sell side, EABL was the day’s top mover accounting for half of the trading volumes. Of the other top movers, Safaricom (+1.6%), Bamburi and Uchumi (+1.3%) saw strong foreign investor demand. Local investors actively moved Co- op Bank pushing up its price 1.3% higher to KES 15.70. Liberty Insurance sustained its upward momentum, edging up 6.2% to KES 11.95, though amidst low volumes. Kenol Kobil reversed some of the losses made in the previous session, gaining 1.1% to KES 8.90, after the oil marketer announced that its group CEO would be retiring. I&M climbed 2.11% to KES 97, following an announcement yesterday by the bank that it would be issuing a KES 1.90 per share interim dividend. Top losers today were on thin volumes.

Mauritius: Semdex -0.05%, USD 355k

A very slow day in Mauritius with value traded amounting to a dissapointing USD 355k. NMH led in terms of activity thanks to a few small crosses in the counter over the day as a total of 29k shares traded. It was a rather dire session for banking stocks as 200 shares traded in MCB while 50k SBM changed hands over the day.

Nigeria: ASI +1.56%, USD 14.73m

Unfortunately another very dull day in Lagos as value traded amounted to $14.73m with not many block trades to report and the U.S on holiday. Banks managed to close the day firmly higher with the Bank 10 index gaining +1.94% thanks to Guaranty Trust Bank (+2.69%) and Zenith Bank (+2.61%). Consumers were also very strong with the Consumer Goods Index gaining +1.75% as Nigerian Breweries (+3.82%) and Nestle (+2.11%) led the sector higher. WAPCO was another star performer as the cement giant gained a very impressive +6.67%.

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

South Africa: Top 40 +1.99%, USD 1.11bn

The JSE ended the day higher with the Top 40 Index gaining 1.99% to close at 35,518 while value traded amounted to USD 1.11bn. Resources were the day's biggest gainers with the Index gaining 1.88% followed by Financials and Industrials which gained 1.87% and 1.81% respectively. The Rand was trading at 10.05 and 12.97 to the USD and EUR respectively by the time local markets closed.

Zambia: LuSE +0.25%, USD 95k

Not much on the go in Lusaka today with value traded amounting to USD 95k. The names that traded included ATEL, CEC, FQMZ, LAFA, NATB, ZMBF, ZAMFA and PRIMA RE. LAFA was the biggest contributor towards turnover with value traded in the name amounting to USD 36k. NATB was the second biggest contributor towards turnover with value traded in the name amounting to USD 35k.

Zimbabwe: Industrials +1.06%, Mining unch, USD 1.06m

Industrials added another 1.06% to 213.43 pts in the wake of 15 gainers dominated by financials as bullish sentiment returned to the ZSE. Firm demand saw Barclays jumping +10.9% to 5c, FBC +20% to 12c, Fidelity +3.8% to 13.49c and Nicoz +2.7% to 1.55c. A few days into their new reporting year Colcom, Innscor and Padenga firmed with rises of +12.9%, +1.1% and +0.14% to 35c, 93.2c and 6.91c respectively. The meat processor Colcom being toped the gainers fir the day. Minings were unchanged at 70.12pts as the only trade in the sector took place in Bindura at 2.6c which closed net sellers. Activity was rather subdued with turnover falling 15.2% to $1.06m. Foreign inflows took a 25% knock closing at $0.545m.

African Currencies