Movers & Shakers: July 17, 2012

African Currencies as at GMT 15:30

Botswana: Closed today

Egypt: EGX30 +1.64%, USD 67m

The market ended the day on a positive note leaving the EGX30 to end the day up 1.64% to close at 4818.41 points. Optimism spread throw the market today after chatter rose that Mohammed El-Erian(Head of Pimco's) is a possible candidate for the new government PM role, this boosted local and GCC institutions optimism towards the recovery road ahead of Egypt tp end the day as net-buyers, yet international investors remain bearish about the market on the back of the ongoing political instability in the country. TMGH gained the most in more than two weeks, this came after the company stated in a press that Madinity contract is valid, and it will support its case in the upcoming court sessions on November 7th and 20th, 2012, the former ended the day up 3.08% to close at EGP4.01.

Investor mix:
•  Foreigners were net Sellers by 67.00 mn EGP and were 35.62% of the market.
•  Egyptians were net Buyers by 33.28 mn EGP and were 45.95% of the market.
•  Arabs were net Buyers by 33.71 mn EGP and were 18.43% of the market.
•  Institutions were net Sellers by 4.60 mn EGP and were 56.30% of the market.
•  Retail were net Buyers by 4.60 mn EGP and were 43.69% of the market.

Kenya: ASI -0.42%, USD 3.7m

We saw a further improvement in the equity market today boosted by block trades on EA Breweries, KCB Bank, Barclays Bank and KenolKobil. Turnover edged up to USD 3.7m. Heightened activity was noted on EA Breweries as foreign investors accumulated on the counter to see the stock emerge as the day’s top trader in terms of turnover (accounting for 45.2% of total turnover). KCB Bank and Barclays Bank continued to exhibit heavy trading with 3.0m and 1.6m shares moved at a stable KES 23.25 and KES 13.75. Activity on both counters was dominated by local investors who also accounted for 100% of total sales. KenolKobil saw speculative local investors aggressively accumulating on the counter in hopes that Puma Energy will pay a premium on the market. The session marked the commencement of trading for DTB Bank’s Rights Issue shares. The counter saw 100 rights shares exchange hands at the KES 50.00 level.

Mauritius: Semdex -0.31%, USD 1m

The market ended the day in the red with the Semdex and the Sem-7 down 0.31% and 0.23% respectively. MCB was the only mover on the Sem-7 with the counter ending the day 0.6% lower at Rs166 on 81,200 shares. SBM traded level at Rs82.50 on 77,000 shares. Terra was unchanged at Rs38.50 on 147,900 shares. NMHL held steady at Rs64.50. Some of the other losers on the market were PAD which traded 4.2% lower. Air Mauritius lost 1.87% at Rs10.50. The Dem fell by 0.2% to 174.01pts. Union Sugar climbed by 11.6% to Rs48.

Nigeria: ASI +0.27%, USD 18.86m

The activity levels picked up significantly in Nigeria today although it is far from what one would describe as very active. The banks +0.36% but more specifically the top tier names dominated the moves and the activity was mostly centered around these names. Zenith unch, UBA +4.86%, GTB +1.74% and FBN +1.65% collectively accounted for $11.6m worth of the trade. The insurance sector closed in the red -0.41%. Flourmills gained +3.7%, Cadbury added +210bps and DangS and DangF advanced +0.71% and DangF +1.72%. There were no major results released today.

South Africa: Top 40 -0.09%, USD 1bn

The JSE spent the whole day in positive territory only to sell off in the dying minutes following Bernanke's testimony. Once again we saw the banks and retailers favoured to the mining stocks. Resources -0.6% lagged again as copper fell 1.1% and most of the large cap miners continued to bleed. Financials closed flat in a day where the banks outperformed the insurers.

Zambia: LuSe -0.42%, USD 1k

Nothing happening in Lusaka today with only USD 1k worth exchanging hands today. AELZ lost 0.26% at K3,411 while SCB was down 3.7% at K2.70.

Zimbabwe: Industrial Index +0.31%, Mining +.0.79%, USD 772k

Volumes improved to 9m shares from 5.7m shares although they remain thin in heavy cap stocks. Value traded was well below the $1m mark at $0.772m. Fourteen stocks traded in the positive led by gold miner Falgold which rose 24% to 31c helping the mining index up 0.79% to 97.20points. PPC recovered 0.99% to 205c, Econet rose 0.71% or 3c to 423c, Barclays picked up 3.23% to 3.2c and Truworths rose 11.115 to 4c. AICO recovered 6.38% to 8.51c as investors scrambled to buy the stock after it fell to 52-week low of 8c yesterday. Trading in the negative was Old Mutual which slipped 1.20% to 157c, DZL lost 1.235 to 16c, and Mash eased 0.40% to 2.49c. Ten stocks traded in the negative.