Movers & Shakers: July 08, 2013

Botswana: DCI -0.02%, USD 269k

Half of today’s action took place in FNBB (365t) while there was muted activity in Letlole (167t) and Primetime (225t) and Barclays (655t). Outside of this there was very little to write home about.

Egypt: EGX 30 -3.55%, USD 58m

Despite the positive sentiment from locals on the expected cabinet formation, along with the overall euphoria the market witnessed notable selling leaving the EGX30 to end the day down 3.55% to close at 5,123.06 points. The market traded decent volumes yet slightly lower than recent turnovers, the market traded a total turnover of USD 58m. The market witnessed a sell-off today this comes after escalation started to hike between the army and the ex-MB president supporters leaving more than 30 dead and hundreds of injured. And causing further tension with Islamic political groups including Al-Nour party who withdrew from all negotiations with the current regime. International institutional investors continue to be net sellers in the market joined by GCC institutional investors targeting names such as JUFO, HRHO and COMI each ending the day down 7.02%, 6.39% and 3.71% respectively. It’s worth mentioning that the real-estate sector got notably hit today, were names such as TMGH, AMER and OCDI ended the day down 6.14%, 5.88% and 4.00% respectively.

Investor mix:
•  Foreigners were net Sellers by 31.42 mn EGP and were 25.67% of the market.
•  Egyptians were net Buyers by 43.19 mn EGP and were 68.88% of the market.
•  Arabs were net Sellers by 31.42 mn EGP and were 5.44% of the market.
•  Institutions were net Sellers by 30.99 mn EGP and were 31.32% of the market.
•  Retail were net Buyers by 30.99 mn EGP and were 68.67% of the market.

Kenya: NSE 20 -0.20%, USD 6.3m

Equity turnover climbed 58% driven by increased foreign investor participation at 67% of trades compared with 61% in the previous session. Overall foreign investors were net sellers in the market with Safaricom, KCB, Kenya Power and EABL witnessing net foreign investor selling. Safaricom was the day’s top mover accounting for 42% of traded volumes. KCB and Equity Bank extended their gains climbing 2.6% and 3.9% to KES 39.25 and KES 33.25 respectively. On the other hand KenolKobil extended its losses easing 7.5% to a new 12 month low of KES 8 on a supply overhang. The share has been under pressure following failed take over negotiations with Puma Energy as well as troubles with Kenya Petroleum Refinery. Liberty insurance witnessed some profit taking today following last week’s rally pulling back 4.2% to KES 11.40.

Mauritius: Semdex -0.89%, USD 717k

A quiet day in Port Louis as the large caps struggled. The Sem-7 fell by 1.26% with the only movements in these stocks being negative. The biggest losers were MCB (-2.45%, Rs179.50) as the banking giant went ex-div today and Bramer Banking (-2.39%, Rs6.52) while NMH (-1.08%, Rs69), Alteo (-1.43%, Rs34.50) and Terra (-25bps, Rs40.70) also lost ground.

Nigeria: ASI -0.32%, USD 13.43m

A very dull day in Lagos as the sluggish market never got going. In fact, if it wasn’t for a couple of crosses in GTB the turnover would not even have cracked $10m. As it is, GTB accounted for more than 40% of the day’s activity (-92bps, N25.71) as the banking index slipped by 46bps. The only other active name in the banks was FBNH which fell by 1.18% to N17.52. The consumers were also extremely quiet and outside of Guinness (+1.19%, N255) hardly anything was happening.

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

South Africa: Top 40 +1.98%, USD 1.11bn

The JSE ended the day higher with the Top 40 Index gaining 1.98% to close at 35,370 while value traded amounted to USD 1.11bn. Resources were the day's biggest gainers with the Index gaining 2.37% followed by Industrials and Financials which gained 1.63% and and 1.34% respectively. The Rand was trading at 10.19 and 13.12 to the USD and EUR respectively by the time local markets closed.

Zambia: LuSE -0.27%, USD 26k

Slow start to the week in Lusaka with value traded amounting to USD 26k. Apart from small trades in CEC ($9.5k) and ZSUG ($6.5k) there was not much to speak of.

Zimbabwe: Industrials +0.52%, Mining -2.27%, USD 1.18m

The market saw 26 counters trading with the trading pattern of 7 risers, 3 fallers and 16 unchanged in week opening trades. Activity improved from Friday levels with turnover improving +103% to $1.18m. Complementing was the improvement in foreign participation rising +66% to $0.38m and +117% to $0.56m of purchases and sales respectively resulting in net outflows of $0.17m. Selective buying persisted on the bourse and the bulk of the funds were taken up in Econet 35% ($0.4m), Delta 19% ($0.2m), OK 13% ($0.2m) and Old Mutual 10% ($0.1m).The absence of sellers saw the telecoms giant Econet firming +1.1% to 67.11c, diversified Innscor up +0.54% firm to trade at 94.51c, Meikles +1.3% to 32c, retailers OK +4.1% to 25c and insurers Old Mutual jumping +4.5% to 230c.

African Currencies