Movers & Shakers: July 09, 2012

African Currencies as at GMT 15:30

Botswana: DCI -0.03%, USD 12k

Slow start to the week with only 12k exchanging hands today. Movement was only recorded in two counters with Letlole ending 1t higher at 133t while Choppies gave-up 1t to finish at 165t. Letshego was level at 140t on 44,627 shares.

Egypt: EGX30 -4.15%, USD 70m

The market witnessed a sell-off today lead by international institutions, the EGX30 ended the day down 4.15% to close at 4,698.52 points. Volumes continue to trade within recent average volumes, market traded a total turnover of EGP429m.The Sell off came after President Morse annulled dissolution of parliament and ordered the resumption of its legislative activities causing panic and frustration amongst political activists as well as Judges as the order violates the HCC ruling. Both SCAF and HCC held emergency meetings separately to discuss the president decision, investors panicked as uncertainty increased dramatically after the president decision, fearing a show down between the SCAF and the newly elected president.

Investor mix:
•  Foreigners were net Sellers by 63.36 mn EGP and were 17.34% of the market.
•  Egyptians were net Buyers by 45.44 mn EGP and were 75.74% of the market.
•  Arabs were net Buyers by 17.91 mn EGP and were 6.92% of the market.
•  Institutions were net Sellers by 37.38mn EGP and were 30.67% of the market.
•  Retail were net Buyers by 37.38 mn EGP and were 69.32% of the market.

Kenya: NSE 20 -0.16%, USD 1.96m

It was a quiet start to the week on the equity market. Turnover declined 45.6% to USD 2.0m (KES 165.1m) from Friday’s close. Market turnover was boosted by trading on EA Breweries and Co-op Bank which together contributed to 60.7% of the total market activity. EA Breweries was the day’s top trader, on a volume of 325,300 shares at a reduced average price of KES 237.00 (-1.3%). Purchases on the counter were dominated by foreign investors (84.4%) while the liquidity was provided by a local investors taking profit. Driven by local investors, there was improved activity on Co-op Bank. Trading on the counter saw its share price appreciate 0.4% to KES 11.35 on improved volumes of 2.1m shares. There was persistent demand on KCB Bank, with bids coming in at KES 23.25. At KES 23.00, there was up to 10.0m on bid. Supply however remained constrained to see only 234, 900 shares change hands at KES 23.25

Mauritius: Semdex -0.70%, USD 13m

An active day in Mauritius today with turnover increasing to USD 13m, which was mainly attributed to crosses in Swan and Anglo Mauritius. Swan saw 1,104,423 shares trade in the name at Rs262 while 132,210 shares were traded in Anglo at Rs476. MCB traded 1.76% lower at Rs167 on 184,200 shares. At market opening Terra saw a cross of 410k shares at Rs39 but closed the session 0.8% lower at Rs38.50.

Nigeria: ASI +0.36%, USD 10.71m

It was another slow day in Nigeria, just as was expected. None of the bigger banks managed to close in the black, ETI, FBN, UBA and Zenith all closed worse off while GTB managed to end the session flat. The banks accounted for 40% of the total activity. All the cement names closed flat and the same can be said of the conglomerates. From the food & bev sector DangF was the standout +4.89%. The Federal Government has signed a Memorandum of Understanding (MoU) with the Petroleum Refining and Strategic Reserve Limited (PRSR), a renowned America-Nigeria joint venture, for the construction of two modular refineries in the country worth $4.5 billion.

South Africa: ALSI -0.86%, USD 1bn

The JSE and rand had a tough day today as the market followed global markets lower, amid concerns about global growth. The golds and resources sectors were particularly hard hit, losing well over a percent each while the banks were the outperformers and the only sector to close in the black.

Zambia: LuSE +0.21%, USD 12k

The LuSE continued to trade thins with only USD 12k worth trading today. The index however ended the day 0.21% higher at 3,901.67pts. CEC edged up 0.15% to K686 on 39,154 shares. ZSUG traded 1.79% higher at K285.

Zimbabwe: Industrial Index -0.04%, Mining 1.43%, USD 2.8m

The industrial index pared a marginal 0.04% to 133.71points after losses in Meikles cancelled off gains in Dairibord, FBC and Mashhold. Meikles finally gave in to selling pressure easing off 3.24% to 17.9c, TN pared 9.52% to 3.8c. Other losers were Pheonix 10% lower at 0.9c, Dawn 6.25% to 0.75c, Pelhams 4% to 0.48c and TA which lost 2.61% to 11c. Dairibord recovered 1.25% to 16.20c on local buying while FBCH and Mash rose 3.17% and 4% to 6.5c and 2.6c respectively. Most heavy cap stock traded at previous levels (Delta 66c, Hippo 100c, and CBZ 11.2c). AICO was unchanged at 11.50c. Econet was unchanged at 430c in normal trades while a special bargain of 507 900 shares valued at $2,133,180 was recorded at a discounted price of 420c. A higher bid in Falgold at 17.5c saw the mining index rise 1.43% to 78.62pts. No trades were however recorded in the mining sector.