Movers & Shakers: July 10, 2013

Botswana: DCI +0.03%, USD 159k

Another dull day in Gaborone as only Choppies traded with anything approaching normal volume (81% of volumes) while ABCH, Barclays and Letshego all traded scraps.

Egypt: EGX 30 +0.66%, USD 73m

The market traded the day with a positive sentiment lead by local investor both retail and institutions, leaving the EGX30 to end the day up 0.66% to close at 5,325.14 points. The market traded extremely strong given that today’s session is a hour less than the norm(Ramadan schedule), the market traded a total turnover of USD 73m. With the appointment of "Beblawi" as the New PM and Baradei is acting as VP which is looking positive on Egypt's economic and foreign affairs, adding to this UAE already pledging aid to Egypt, local investors continue to be bullish towards the market targeting names EIUD, EGTS and OTMT, each ending the day up 9.98%, 6.82% and 4.00% respectively, the real-estate sector all so witnessed a decent rally today were names such as AMER, PHDC and TMGH 5.77%, 4.74% and 4.01% respectively. Its worth mentioning that international institutions ended the day as net-sellers to carry on with their bearish sentiment, targeting name such ORTE, COMI each ending the day down 1.79% and 0.43% respectively.

Investor mix:
•  • Foreigners were net Sellers by 60.06 mn EGP and were 24.86% of the market.
•  • Egyptians were net Buyers by 62.03 mn EGP and were 70.47% of the market.
•  • Arabs were net Sellers by 1.96 mn EGP and were 4.67% of the market.
•  • Institutions were net Sellers by 9.94 mn EGP and were 39.45% of the market.
•  • Retail were net Buyers by 9.94 mn EGP and were 60.54% of the market.

Kenya: NSE 20 +0.87%, USD 6.5m

Equity turnover slipped 14.2%, with foreign investors dominating trading, accounting for 75% of trades. The NSE 20 index gained 0.87% to 4,640.5 points, with 21 of the counters traded gaining and 12 declining. EABL was the day’s top mover accounting for 48% of volumes, driven by strong foreign investor demand. The brewer has increased its beer prices by 7.6% in order to lift sales as volumes remain flat. Banking stocks Barclays (+0.9%) and KCB (+1.3%), also saw strong foreign investor demand in today’s session. ARM climbed 3.8% to KES 67.50, after announcing a 27.2% y/y rise in 1H13 EPS. On the losing end, Equity bank reversed some of the profits it had made in previous sessions pulling back 1.5% to KES 33.25. Kenya Airways slipped 1.01% to KES 9.80. The transport cabinet secretary has indicated that he intends to propose that the government increase its stake in Kenya Airways, in order to give the state more control over the company as well as facilitate better financing for expansion.

Mauritius: Semdex -0.37%, USD 1.13m

Mauritius continues to be soft as the Semdex (-37bps) and Sem-7 (-47bps) both lost ground today. MCB was the only gainer in the Sem-7 as it rose by 28bps to Rs180.50. The fallers included SBM (-97bps, Rs1.02), NMH (-36bps, Rs68.75), Alteo (-1.16%, Rs34) and ENL Land (-2.27%, Rs43).

Nigeria: ASI +0.31%, USD 20.11m

Another bullish day in Lagos as the banks led the way higher. Banks closed up 20bps with strong and active buying in GTB (+1.53%, N25.94) the main attraction. Other banks were mixed although some tier 2 names struggled, most noticeably Fidelity (-2.88%, N3.03) and Skye Bank (-2.83%, N4.80). Consumers lost a measly 2bps today with the most action in Unilever, Dangote Sugar, Nestle, Guinness and NB with all these names closing unchanged. In the cements, we saw a lot of crossing in Wapco (+2.04%, N100) while DangCem closed up 53bps at N190.

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

South Africa: Top 40 -0.34%, USD 1.06bn

The JSE ended the day lower with the Top 40 Index falling 0.34% to close at 35,181 whle value traded amounted to USD 1.06bn. Financials were the day's biggest losers with the Index falling 1.04% followed by Industrials which fell 0.44% while Resources gained 0.32%. The Rand was trading at 10.06 and 12.92 to the USD and EUR respectively by the time local markets closed.

Zambia: LuSE +1.17%, USD 186k

Better day in Lusaka but still nothing to write home about with value traded amounting to USD 186k. The only real activity to speak of was a cross in Zambeef as a total of 200k shares traded at 4.39.

Zimbabwe: Industrials +1.45%, Mining unch, USD 2.45m

Heavy cap gains propelled the industrials higher to close at 221.27pts after gaining +1.45% from yesterday as investors take positions ahead of the watershed elections slated for month end. Delta sustained its recent surge putting on +2.06% to 146c while Innscor firmed +1.56% to 97c. On the other hand the minings remained unchanged at previous levels of 66.57pts. The search for the quality persisted in today’s call as more than 80% of value traded was spread among the top 10 capitalized counters. Aggregate value traded also followed a northwards trail to $2.45m which is a +53% rise on yesterday. However total volume traded plummeted -18% to 6.6m shares as trades were largely confined to the higher value shares.

African Currencies