Movers & Shakers: July 11, 2012

African Currencies as at GMT 15:30

Botswana: DCI +0.14%, USD 410k

The DCI edged up 0.14% to end the day at 7266.25pts. Sefalana contributed to 95% of the days turnover with 1,038,007 shares trading at 10t higher at 290t. Sechaba gained 4t to end the day at 1276t while Stanchart picked up 2t to finish at 932t. Barclays and Choppies each lost 1t to end the day at 717t and 163t respectively.

Egypt: EGX30 +1.83%, USD 52m

The market managed to end the day on a positive sentiment lead by local retail investors, with the EGX30 up 1.83% to close at 4794.45 points. Volumes were relatively weak, market traded a total turnover of EGP317m. The market opened today with a negative sentiment to reach a low of 4682.64 points (-0.45%), after 30min the market started to witness buying appetite lead by local retail investors along with international investors, yet by med-session international investors change their sentiment to end the day as net sellers. Names such as TMGH and CCAP bucked the general sentiment, each ending the day down 1.51% and 0.97% respectively. OTMT grabbed local retail and GCC HNW interest ahead of the announced dividend payment, the stock accounted for more than 18% of total turnover.

Investor mix:
•  Foreigners were net Sellers by 2.31 mn EGP and were 21.66% of the market.
•  Egyptians were net Sellers by 1.19 mn EGP and were 70.88% of the market.
•  Arabs were net Buyers by 3.51 mn EGP and were 7.50% of the market.
•  Institutions were net Sellers by 10.82 mn EGP and were 31.65% of the market.
•  Retail were net Buyers by 10.82 mn EGP and were 68.34% of the market.

Kenya: NSE 20 +0.06%, USD 4.6m

There was active trading in the market after a slow start. Foreigners accounted for just over half the buys and just less than 40% of the sells. Market turnover USD 4.6m - boosted by activity on KCB Bank, EA Breweries, BAT Kenya, Co-op Bank and Safaricom. Driven by foreign investor demand there were some cross trades in KNCB, which saw a total of 3.7m shares change hands at an average of KES 23.25. Driven by foreign investor participation there was a block cross of 375,000 shares on EA Breweries at a price of KES 235.00. We noted heightened demand on Safaricom from investors as the company continues to innovate its product offering to subscribers in a bid to improve ARPU. Trading on the counter opened at KES 3.55 and edged up to a high of KES 3.60.

Mauritius: Semdex -0.28%, USD 735k

The market was characterised by thin trading with only USD 735k worth exchanging hands today. Today was the first trading session of Bharat Telecom on the Dem and a total volume of 93,317 shares were traded. The stock opened at Rs53 and reached a high of Rs56.50 before closing at Rs56. Ciel investment saw a cross of 200k shares at Rs2.50 and closed at that level, experiencing a decrease of 3.9%. MCB lost 0.6% at Rs166 on 34,792 shares. Air Mauritius was up 0.9% at Rs10.80.

Nigeria: ASI +0.60%, USD 19.50m

The market was far more active today although the $20m mark was still not breached. UBA and Diamond, after good numbers, +4.89% and +4.78% respectively. Zenith Bank also traded limit up +5%, closing at 14.71. As a whole the banking sector was a strong outperformer +1.73%. The most active counters in order were, Oando, GTB, Guinness and Zenith. From the building names Cement Company of Nigeria took a beating, -4.91% with none of the names within this sector closing in the black. The conglomerates were mixed but skewed to the upside, PZ +4.81%, Unilever +3.23% while Flourmills closed -3.63% lower. The food bev names struggled, Cadbury -1.24%, DangF -4.93%.

South Africa: ALSI -0.81%, USD 1.1bn

The faltering global economic growth scenario is dominant theme as investors continue to digest US second-quarter corporate earnings data. The JSE is at the mercy of the global mood and as such followed European markets lower today. The screen was all red today. The resources and Golds were the hardest hit -1.29% and -2.45% respectively. The industrials and banks eased -0.74% and -0.42% respectively while the financials were the outperformers -0.27%.

Zimbabwe: Industrial Index -0.34%, Mining +5.71%, USD 836k

The industrial index closed the day in the negative in much light trades while gains in Rio and Falgold continue to spur mining index recovery. The industrial index lost 0.34% to 133.11points in a largely bearish session that saw twelve counters trade in losses against only four risers. Econet slipped a further 0.58% to 427.5c on selling pressure, ABCH lost 1.79% to 55c while CBZ finally gave in to selling pressure slipping 4.46% to 10.7c. ART and Interfresh led the losers easing 16.67% apiece to 0.50c and 0.1c respectively. Pheonix and BAT were the only industrial stocks to trade in the green advancing 11.11% and 2.66% to 1c and 270c respectively. Market volumes dropped to 5.2m shares from yesterday’s 7.6m shares. Turnover declined to $863,330 from $1.816m. The mining index rose 5.71% 87.72c after Rio recovered a further 14.22% or 4.98c to 40c while Falgold breached an all time high of 22c after advancing an impressive 41.94% spurred by illiquidity.