Movers & Shakers: July 11, 2013

Botswana: DCI -0.07%, USD 552k

Activity perked up in Gaborone with some Letshego action the main reason for this as the stock accounted for about 73% of the day’s fun. Letshego closed at 228t and Choppies also saw some trading and closed at 300t. Scraps went through in Engen (712t) and Turnstar (159t).

Egypt: EGX 30 -0.91%, USD 42m

With the calls for protests from various Islamic political groups against the army, the market traded the day with a negative sentiment leaving the EGX30 to end the day down 0.91% to close at 5,276.73 points. The market traded weak volumes today relative to recent turnovers, the market traded a total turnover of USD 42m. The market trade the day with a negative sentiment but with very slow momentum, international institutions remain bearish and continue their record of net-selling, weighing down on the likes of JUFO, HRHO and COMI each ending the day down 2.26%, 2.02% and 2.00% respectively, it’s worth mentioning that PHDC was one of the few names that managed to trade against the general sentiment, as the name continues to be a favor for retail investors who were accounting for 77.82% of the total turnover, PHDC managed to end the day up 1.23% to close at EGP2.46.

Investor mix:
•  Foreigners were net Buyers by 35.16 mn EGP and were 12.81% of the market.
•  Egyptians were net Buyers by 30.83 mn EGP and were 82.16% of the market.
•  Arabs were net Sellers by 4.33 mn EGP and were 5.04% of the market.
•  Institutions were net Sellers by 25.31 mn EGP and were 22.17% of the market.
•  Retail were net Buyers by 25.31 mn EGP and were 77.82% of the market.

Kenya: NSE 20 +0.39%, USD 8.8m

Equity turnover climbed 35% driven by increased local investor activity in the market. Foreign investor participation slipped to 56% compared with 75% of trades. The NSE 20 index sustained its momentum for the third straight session, gaining 0.39% to 4,658.5 points driven by gains made on large cap counters. Buoyed by strong foreign investor demand, CFC Stanbic was the day’s top mover accounting for 44% of volumes. National Bank reversed yesterday’s losses to top the gainers list today, climbing 6.1% to KES 21.75. Though on very light trading Pan Africa Insurance climbed 5.6% to touch its one month high of KES 57. KenolKobil recouped yesterday’s losses edging up 3.1% to KES 8.30. This was despite news of the oil marketer’s long-term debt being downgraded from A+ to A with a negative outlook, by South African-based firm Global Credit Ratings (GCR). Kenol is seeking to raise KES 1.7bn through a private placement. On the losing end, Kenya Airways eased 3.6% to touch a new 12 month low of KES 9.45.

Mauritius: Semdex +0.10%, USD 1.61m

The Mauritian bourse finally turned the corner and had a positive day as the Sem-7 rallied by 27bps. Leading the way was MCB (+55bps, Rs181.50), SBM (+98bps, Rs1.03) and Alteo (+59bps, Rs34.20) while the losers included NMH (-1.09%, Rs68), ENL Land (-1.16%, Rs42.50) and Terra (-50bps, Rs40.10).

Nigeria: ASI +0.54%, USD 41.98m

The bulls won yet again in Nigeria as foreign buying in the banks (+91bps) and consumers (+80bps) pulled the market higher although volumes were yet again light outside of a cross in UBA. All banking names closed in the green with the main outperformers including FCMB (+3.38%, N4.90), ETI (+2.45%, N15.03) and Fidelity (+1.98%, N3.09). UBA saw a chunky $25m cross with both sides being local. The consumers were also unchanged or positive with the main gainers being Dangote Sugar (+5.98%, N12.40) and PZ (+2.59%, N40.01) – PZ also seeing a nice size cross go through.

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

South Africa: Top 40 +2.56%, USD 1.31bn

The JSE ended the day higher with the Top 40 Index gaining 2.56% to close at 36,082 while value traded amounted to USD 1.31bn. Resources were the day's biggest gainers with the Index gaining 4.23% followed by Financials and Industrials which gained 1.74% and 1.71% respectively. The Rand was trading at 10.00 and 13.03 to the USD and EUR respectively by the time local markets closed.

Zambia: LuSE +0.35%, USD 21k

Back to normal in Lusaka with value traded amounting to USD 21k. There was no real action to speak of other than some small trades in CEC and REIZ while the rest of the market hardly traded.

Zimbabwe: Industrials +0.23%, Mining +0.56%, USD 1.63m

Block trades in Medtech (46m shares) and NTS (10m) propelled the day’s volumes which surged 842% to 61.8m. Despite the volume surge the market saw a -33.5% drop in value of trades to $1.63m on the back of lower foreign participation in both buys and sells that declined -64% to $0.3m and -85% to $0.13m respectively. Industrials added a marginal +0.23% to 221.78pts in a mixed session that witnessed 9 risers and 6 fallers. The resources index firmed +0.56% to 66.94pts driven by a 2% rise in coal miners Hwange to 15c. Confidence in banks remained with demand showing in Barclays up +11.8% to 5.6c while CBZ and NMBZ closed with buyers at trading prices of 14.12c and 10c respectively. Driving industrials today was telecoms giant Econet which shored up the bulk of the funds traded (42% or $0.67m) rising +1.3% to 68c ending net buyers. Similarly firm bids were in OK which added a marginal +0.38% to 26.21c as well as Old Mutual that was +0.47% up at 233.1c. Elsewhere clothing retailers Truworths recovered for the second consecutive day rallying +14.3% to 4c while and diversified group ZHL was up +1.6% at 1.3c. Holding company Zimplow added +2% to 5.1c following news that it offloaded Puzey and Payne to management in a move to streamline operations and focus on its core business.

African Currencies