Movers & Shakers: July 22, 2013

Botswana: DSE -0.07%, USD 41k

Absolutely dead quiet in Gaborone today as value traded amounted to USD 41k with FNBB accounting for 38% of today's turnover.

Egypt: EGX +0.60%, USD 74m

The market managed to continue to trade with a positive sentiment leaving the EGX30 to end the day up 0.60% to close at 5,451.72 points. Market volumes significantly improved today relative to recent turnovers, the market traded at total turnover if USD 74m. With more aid arriving from Saudi Arabia yesterday USD2bn to bring up the total to USD5bn so far in the past two working days, the market continued to trade with a positive sentiment with local investors picking up there bullish sentiment to end the day as notable buyer targeting names such as OTMT, HRHO and COMI each ending the day up 3.77%, 2.00% and 1.24% respectively, international investors remain as sellers in the market targeting names such as ETEL(-0.67%) and JUFO(-0.29%).

Investor mix:
•  Foreigners were net Sellers by 103.47 mn EGP and were 24.98% of the market.
•  Egyptians were net Buyers by 74.88 mn EGP and were 66.52% of the market.
•  Arabs were net Buyers by 28.58 mn EGP and were 8.51% of the market.
•  Institutions were net Sellers by 11.68 mn EGP and were 40.48% of the market.
•  Retail were net Buyers by 11.68 mn EGP and were 59.51% of the market.

Kenya: NSE 20 unch, USD 2.8m

The equities market started the week on low note as turnover remained subdued at KES 243m. Foreign investor participation fell to 40% of trades compared with 60% in the previous session. Safaricom and Equity bank were the day’s top movers, collectively accounting for 40% of volumes. Safaricom continued to witness profit taking, after touching a new 12 month high last week, pulling back 2.1% to KES 7.10. Of the top movers, only Centum witnessed meaningful gains climbing 1.1% to KES 22.75, on strong local investor demand. Leading the top losers list, Total extended its losses further easing 6.7% to KES 14.65. I&M slipped 0.52% to KES 96.50, despite books closure for its KES 1.90 interim dividend being today. E.A Cables was the day’s top gainer edging up 4.5% to its 3 month high of KES 16.25. The NSE 20 index remained unchanged today at 4,807.4 points with 14 of the counters traded gaining and 17 declining.

Mauritius: Semdex +0.16%, USD 720k

Still no sign of life coming back into the Mauritian bourse as volumes remain light. The Sem-7 gained 10bps with the only mover in the index being MCB which gained 27bps to Rs186.50.

Nigeria: ASI -0.62%, USD 16.80m

Unfortunately it was another slow start to the week in Lagos with value traded amounting to $16.80m. Nigerian Breweries ($1.78m) led in terms of activity thanks to a few crosses in the counter, closely followed by First Bank ($1.50m). The market came under some pressure today with the ASI falling -0.62% as Consumers were the major drag on the day with the Consumer Goods Index falling -1.46% as Nigerian Breweries (-3.51%) succumbed to some serious profit taking while Flour Mills (-4.11%) also came under some selling pressure. Banks were also weaker with the Bank 10 Index falling -0.52% as FCMB (-2.06%) and First Bank (-1.77%) were major drags on the sector.

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

South Africa: Top 40 +1.01%, USD 1.14bn

The JSE ended the day higher with the Top 40 Index gaining 1.01% to close at 36,394 while value traded amounted to USD 1.14bn. Resources were the day's biggest gainers with the Index gaining 2.24% followed by Financials and Industrials which both gained 0.34%. The Rand was trading at 9.81 and 12.94 to the USD and EUR respectively by the time local markets closed.

Zimbabwe: Industrials +0.34%, Mining unch, USD 800k

Light trades valued at $0.8m were recorded in week opening trades with brewers Delta taking up 55% ($0.44m). Following in contributions were telecoms giant Econet with 16% ($0.13m) and diversified groups TSL and Innscor with 11% ($0.09m) and 7% ($0.06m) respectively. The thin trades came on the back of a decline in foreign participation as purchases dropped -91% to $0.23m and sales eased -55% to $0.36m. This resulted in net outflows of -$0.13m. Minings were unchanged at 66.93 pts as no trade took place in the sector. On the other hand industrials rose +0.34% to 227.80pts on selective buying with four gains being recorded. Demand which has been showing in Innscor post its June year end saw it rising +4.54% and scaling to a new all time high +115c. Retailers OK edged +0.5% to 28c with the excitement coming from its first quarter to June 2013 trading update. OK reported that it achieved revenue of $123.1 million which was a growth of 5.1% over same quarter of F13. RTG reportedly on course to F13 profitability as a result of the ongoing re-organization was the top gainer putting on +9.1% to 1.2c. Short-term insurers Nicoz notched +1.3% to 1.55c.

African Currencies