Movers & Shakers: July 09, 2013

Botswana: DCI -0.12%, USD 125k

Another dull day in Gaborone as the market never got going. The only names that traded with a modicum of volume was Barclays (654t) and Primetime (225t).

Egypt: EGX 30 +3.26%, USD 56m

The market regained its bullish trend and rebounded after yesterday’s selling-off. Locals are more comfortable in this environment, as local retail and institutions dominated the market lifting the EGX30 up 3.26% to close at 5,290.02 points. Market volumes were decent at a total turnover of USD 56m. After yesterday’s clashes that led to the sell-off, market sentiment returned to its optimistic stance after the government announced the road map timeline for the transitional process, which entails a writing of a new constitution , to be followed by parliamentary and presidential elections (an 8 month timeline in total); additionally, a joint press conference by the army and police that addressed the clashes that took place in front of the revolutionary guard facility yesterday had reassured most people. Local retail started the rally today followed by local institutions targeting names such as COMI, PHDC and ORTE, each ending the day up 3.55%, 9.30% and 3.02% respectively; however, it is worth mentioning that both international institutions and GCC institutions ended the day as net sellers.

Investor mix:
•  Foreigners were net Sellers by 52.83 mn EGP and were 20.63% of the market.
•  Egyptians were net Buyers by 63.33 mn EGP and were 73.67% of the market.
•  Arabs were net Sellers by 10.49 mn EGP and were 5.71% of the market.
•  Institutions were net Sellers by 30.96 mn EGP and were 30.32% of the market.
•  Retail were net Buyers by 30.96 mn EGP and were 69.67% of the market.

Kenya: NSE 20 +0.53%, USD 7.6m

The equities market was upbeat with the NSE 20 index gaining 0.53% to 4600.5 points, amidst improved volumes. Equity turnover climbed 20%, driven by increased local investor participation at 49% of trades compared to 33% previously. EABL was the day’s top mover accounting for 40% of volumes with foreign investors being net sellers on the counter. Overall, foreign investors turned net buyers in the market, with strong demand witnessed in Equity Bank, Safaricom and Kengen. Bamburi was the day’s top loser easing 2.3% to KES 210. On the other hand, oil marketer KenolKobil saw some reprieve today climbing 1.9% to KES 8.15, after touching a new 12 month low yesterday. The Monetary Policy Committee held the central bank rate constant at 8.5% in today’s meeting.

Mauritius: Semdex -0.06%, USD 237k

The Port Louis bourse continues to struggle due to a lack of interest as just $237k changed hands. Among the Sem-7 stocks, we had the fallers which included Alteo (-29bps, Rs34.40), ENL Land (-4.35%, Rs44) and Terra (-98bps, Rs40.30) while the gainers included all the banks; MCB (+28bps, Rs180), SBM (+98bps, Rs1.03) and Bramer Banking (+2.45%, Rs6.70).

Nigeria: ASI +0.61%, USD 20.25m

The bulls returned to Lagos as volumes also pleasingly picked up. Banks were up 12bps with Tier 1 names mixed while Tier 2 names fell slightly. The most active names were GTB (-1.01%, N25.45), FBNH (-68bps, N17.40) and Stanbic (-7bps, N15.30). Consumers were also strong as the sector closed up 43bps. Leading the way were Nestle and Dangote Sugar which both witnessed big volumes and closed up 60bps and 1.12% at N1000 and N11.72 respectively. NB was also pretty active and finished up 1.06% at N162. Dangote Cement also found buyers and settled for the day up 2.16% at N189.

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

South Africa: Top 40 -0.20%, USD 976m

The JSE ended the day lower with the Top 40 Index falling 0.20% to close at 35,301 while value traded amounted to USD 976m. Resources were the day's biggest losers with the Index falling 0.61% while Financials and Industrials gained 0.28% and 0.05% respectively. The Rand was trading at 10.06 and 12.84 to the USD and EUR respectively by the time local markets closed.

Zambia: LuSE -0.64%, USD 56k

Not much on the go in Lusaka today with value traded amounting to USD 56k. LAFA ($25k) and FQMZ ($22k) were the only names worth mentioning today as the rest of the market was extremely dull.

Zimbabwe: Industrials +0.88%, Mining -2.86%, USD 1.60m

Search for quality and dearth of sellers continued to hold on the ZSE resulting in industrials posting a +0.88% rise to 218.11pts driven by gains in market heavies. Amongst the heavy cap gainers was beverages giant Delta that took a +1.5% leap to 143.05c; conglomerate Innscor with a +1.1% increase to 95.51c; and cigarette manufacturers BAT that powered to 254% YTD return after notching a +6.3% gain in today’s trades to an all time high of 1275c. An all time high was also registered in clothing retailers Edgars +3.6% up to 13.99c. Econet that set its AGM for month end July with special resolution to endorse its share buyback scheme was the outstanding value contributor with $0.79m worth of trades. Other notable turnover contributions were in Hippo with $0.25m and Delta with $0.16m. Volumes of the day were dominated by hospitality companies African Sun and RTG which saw 1.9m and 1.5m shares changing hands respectively.

African Currencies