Movers & Shakers: July 16, 2012

African Currencies as at GMT 15:30

Botswana: Closed today

The market started the day with a negative sentiment to reach a low of 4687.77 points, the main sellers were international and local institutions, after 30min of trading the market started to witness notable buying across the board lead by local retail investors, leaving the EGX30 to end the day up 0.46% to close at 4,740.53 points. The market traded above average volumes compared with recent volumes, market traded a total turnover of EGP293m, its worth mentioning that OTMT alone attributed to more than 43% of the total turnover. OTMT bucked the general trend, the name ended the day down 2.03% to last print at EGP1.45, this comes a day before the stock traded ex-dividend tomorrow.

Egypt: EGX30 +0.46%, USD 44m

The market started the day with a negative sentiment to reach a low of 4687.77 points, the main sellers were international and local institutions, after 30min of trading the market started to witness notable buying across the board lead by local retail investors, leaving the EGX30 to end the day up 0.46% to close at 4,740.53 points. The market traded above average volumes compared with recent volumes, market traded a total turnover of EGP293m, its worth mentioning that OTMT alone attributed to more than 43% of the total turnover. OTMT bucked the general trend, the name ended the day down 2.03% to last print at EGP1.45, this comes a day before the stock traded ex-dividend tomorrow.

Investor mix:
•  Foreigners were net Buyers by 34.25 mn EGP and were 25.43% of the market.
•  Egyptians were net Sellers by 38.25 mn EGP and were 67.55% of the market.
•  Arabs were net Buyers by 3.63 mn EGP and were 7.03% of the market.
•  Institutions were net Sellers by 47.63 mn EGP and were 35.58% of the market.
•  Retail were net Buyers by 47.63 mn EGP and were 64.41% of the market.

Kenya: NSE 20 +0.13%, USD 2.4m

The week commenced on a more active note relative to last Friday 13 July, with turnover amounting to $2.4m. Support on the market came mainly from KCB Bank, Safaricom, Equity Bank and Co-op Bank. Heightened trading was noted on the Banking Sector ahead of half year results, accounting for 47.4% of the session’s total turnover. KCB Bank was the most actively traded counter with a total of 1.7m shares traded at a stable average price of KES 23.25. Participation on the counter was dominated by foreign investors (accounting for 91.1% of participation). On the back of foreign investor-dominated trading, Safaricom edged up to a new high of KES 3.70 as earnings are expected to grow this year driven by a rise in tariffs. The stock traded 9.2m shares at an improved average price of KES 1.4%. EA Breweries today witnessed relatively low trading despite emerging amongst the day’s most actively traded counters in terms of turnover. The counter held stable as blocks went through at the KES 223.00 level.

Mauritius: Semdex +0.03, USD 1.5m

Gains on MDIT (+1%) and Omnicane (+0.7%) led to a slight increase in the Semdex to 1,756.27pt (+0.03%). The Sem-7 traded flat at 336.86pts. SBM witnessed several crosses today resulting in a total of 155.9k shares trading in the name at Rs82.50. 458.8k shares were traded in Terra with the stock reaching an intra-day high of Rs39 but ended the day unchanged at Rs38.50. Lux Islands Resorts lost 0.55 to close at Rs19 on 400 shares. The dem lost 0.3% to end at 147.24pts.

Nigeria: ASI +1.07% (unofficial), USD 8.43m

Nigeria made a strong advance today +1.07% although the vols remain dire with the $10m mark seemingly insurmountable. The banks experienced the greatest support +2.93% in anticipation of favourable numbers after UBA and Diamond got the results season off to a good start last week. All of the top tier names closed at least 1.58% higher with UBA and Zenith the strongest performers +4.62% and +4.17% respectively. No results had been released today, at the time of writing. All the other sectors also closed in the black although they did not close as strong as the banks. Notably DangS closed -3.63% lower. 33 stocks advanced while only 13 declined.

South Africa: ALSI -0.19%, USD 900m

Growth and Spanish debt woes meant that risk was off and as such the JSE struggled today, closing -0.19% lower. World equities were also lower as investors were trading cautiously ahead of the start of US Federal Reserve chairman Ben Bernanke’s two-day congressional testimony on Tuesday. The golds were the hardest hit -0.81% while the resources and industrials also struggled, easing -0.53% and -0.47% respectively. The banks and financial's however performed strongly, +1.31% and +0.75% respectively.

Zambia: LuSe -0.42%, USD 2.8k

The Lusaka bourse commenced the week on a quiet note with only USD2.8k crossing the floor today. Batz was down 0.13% at K1,582. SCBL lost 3.57% at K2.80. ZMFA edged down 19.73% at K598 while Zsug gave-up 1.75% at K285.

Zimbabwe: Industrial Index -0.18%, Mining +6.09%, USD 757k

The industrial index pared 0.18% to 131.31points weighed down by losses in AICO, AFRE and Old Mutual. AICO was the biggest loser among heavy caps easing 20% to close sellers only at 8c in a rare selling pressure. AFRE lost 16.67% to 5c while Old mutual dropped 0.69% to 158.9c. GB was the worst performing stock declining 37.50% to 0.05c on a paltry volume of 6 670, Medtech lost 16.67% to 0.05c as CAFCA eased 5c to 45c. Activity remained sluggish although volumes improved from Friday numbers supported by foreign participation in back to back trades. Volumes traded rose to 5.7m from 2.2m while turnover improved to $0.757m from $0.294m with foreign participation accounting for 78% of the purchases at $0.589m while sales amounted 635 of the turnover at $0.478m. Foreign interest was seen in back to back trades in Delta and Innscor while buying interest was seen in Seedco and CBZ. The mining index opened the week firmly in the positive rising 6.09% to 96.44points buoyed by a higher bid in Falgold at 30c. There were no trades in the mining sector although Bindura and Hwange saw lower bid at 2.6c and 20c respectively while Rio was steady at 40c.