Movers & Shakers: July 17, 2013

Botswana: DSE +0.02%, USD 1.75m

After being closed for 2 days the Gaborone bourse sprung back into life with an active day of trading. Activity was big in Letshego (228t) and FNBB (365t). Outside of these 2 names nothing much happened.

Egypt: EGX 30 -0.26%, USD 44m

The market traded with a mixed sentiment today to end the day in negative territory, leaving the EGX30 to end the day down 0.26% to close 5,345.25 points. The market traded decent volumes compared to average turnover, the market traded a total turnover of USD 44m. The market started the day was a notable positive sentiment to reach a high of 5389.33 points this was mainly lead by notable buying from local institutions targeting names such as OCIC , ORTE and OCDI each ending the day up 0.30%, 1.14% and 0.30% respectively. Local retail went back to their profit booking sentiment along with GCC institutional investors, targeting names such as ETEL, MOIL. and COMI, each ending the day down 2.47%, 1.96% and 0.90% respectively, it’s worth mentioning that the real-estate sector witnessed pressure today towards the session end, were names such as AMER, TMGH and PHDC last printed down 3.77%, 0.63% and 2.44% respectively.

Investor mix:
•  • Foreigners were net Sellers by 1.09 mn EGP and were 17.99% of the market.
•  • Egyptians were net Buyers by 2.85 mn EGP and were 75.27% of the market.
•  • Arabs were net Sellers by 1.76 mn EGP and were 6.74% of the market.
•  • Institutions were net Buyers by 6.74 mn EGP and were 27.82% of the market.
•  • Retail were net Sellers by 6.74 mn EGP and were 72.17% of the market.

Kenya: NSE 20 -0.16%, USD 8.6m

The market saw mild profit taking following a rally in previous sessions with the NSE 20 index pulling back 0.16% to 4,778.9 points. Equity turnover jumped 27%, driven by increased foreign investor activity with participation increasing to 68% compared with 51% in the previous session. Safaricom was the day’s top mover accounting for 39% of volumes. The counter softened on profit taking after seeing strong demand in previous sessions, easing 0.7% to KES 7.35. KCB sustained its momentum climbing further 1.2% to KES 41.25, despite net foreign investor selling. Of the other top movers, foreign investors were net buyers in ARM (-1.4%, KES 70) and net sellers in Equity Bank (0.7%, KES 33.75) and EABL. Though on thin volumes, TPS Serena gained 7.1% closing at its one month high of KES 52.50. Insurance stocks Pan Africa and Britam led the top losers, reversing previous session gains to trade 3.4% and 1.8% lower at KES 56.50 and KES 8.20.

Mauritius: Semdex -0.46%, USD 377k

Port Louis continues to lose favour with investors as volumes continue to drop off. The Sem-7 lost 43bps for the session with losers in the Sem-7 including NMH (-38bps, Rs64.75), Alteo (-2.19%, Rs33.45), ENL Land (-71bps, Rs42.20) and Bramer Banking (-2.99%, Rs6.50) while there were no gainers.

Nigeria: ASI +0.23%, USD 16.63m

The Lagos bourse continues to inch higher although volumes remain very thin across the board. Conviction remains very undecided. Banks (-26bps) were mixed with most names virtually unchanged on the day. The most notable outlier was FBNH which gained 1.8% to N18.70. Consumers gained 46bps with most of these gains coming on the back of NB (+1.85%, N173.20) and UACN (+6.33%, N63) while Guinness mitigated this somewhat by losing 2.26% to close at N260. Nestle was the most active name in the sector yet ended the session unchanged at N1000.

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

South Africa: Top 40 +1.55%, USD 1.85bn

The JSE ended the day higher with the Top 40 Index gaining 1.55% to close at 36,409 while value traded amounted to USD 1.85bn. Resources were the day's biggest gainers with the Index gaining 2.73% followed by Financials and Industrials which gained 1.55% and 0.78% respectively. The Rand was trading at 9.83 and 12.88 to the USD and EUR respectively by the time local markets closed.

Zambia: LuSE +0.64%, USD 425k

Much better day in Lusaka thanks to crosses in the likes of ZNCO ($171k), CEC ($94k) and SCZ ($65k) as total value traded amounted to USD 425k. Market breadth was however very thin today.

Zimbabwe: Industrials -0.33%, Mining -2.36%, USD 3.29m

The ZSE mainstream index broke its 12 day bull run softening 0.33% to close at 226.20pts on losses in 5 heavy cap stocks. Delta succumbed to profit taking easing 1.3% to 148c as investors cash in on the attractive prices. Telecoms giant Econet faltered 0.04% to 68c as it gradually rerates after assembling a highly experienced new board for the group. The resources, which registered paltry activity equally lost traction easing 2.36% to 67.47 on reduced offer of 12c in Falgold. Other fallers for the day included Seedco which reversed yesterday’s gains to close at 81c. Other losses were seen in Hippo valley and Dairiboard. Likewise value of trades eased 38.92% to $3.29m on yesterday in spite of a 43.45% increase in volume traded indicating the low value nature of the stocks traded today. Elsewhere 72% of the aggregate value traded was evenly distributed among 5 top capitalized stocks including Delta, BAT and Econet. Foreign aggregates took a similar nose dive with inflows dampening 48.8% to $1.88m while outflows took a relatively higher drop of 67% to $1.35m.

African Currencies