Movers & Shakers: July 25, 2012

African Currencies as at GMT 15:30

Botswana: DCI -0.04%, USD 27k

Another slow day in Botswana with value traded amounting to only $27k. Nine names traded with two names increasing in price Primetime +1t to196t and RDCP added 2t to close at 682t. ABCH, Barclays and NAP were the three names to lose ground, ABCH - 1 closing at 449t, Barclays -2t to end at 715t and NAP -10to finish the session at 220t.

Egypt: EGX 30 -1.53%, USD 35m

The market managed to end the day in negative territory, leaving the EGX30 to end the day down 1.53%, to close at 4745.50 points. Volumes were weaker recent average volumes, market traded a total turnover of USD 35m. With political uncertainty continues to heightens after yesterday's appointment of Hesham Qandil(former min of water resources) to form the new cabinet as Prime minster, anxiety clouded the market as many investors are disappointed to the president’s decision. OCDI managed to buck the trend the name ended the day up 1.1%, this came after the government approved to extend time for Allegria project by 2 years to 3 years which gave investor a sense of optimism towards the firm.

Investor mix:
•  Foreigners were net Sellers by 33.53 mn EGP and were 19.42% of the market.
•  Egyptians were net Buyers by 26.89 mn EGP and were 71.36% of the market.
•  Arabs were net Buyers by 6.64 mn EGP and were 9.23% of the market.
•  Institutions were net Sellers by 16.23 mn EGP and were 29.14% of the market.
•  Retail were net Buyers by 16.26 mn EGP and were 70.85% of the market.

Kenya: NSE 20 +0.85%, USD 5.40m

Much better day today with value traded amounting to a rather pleasing $5.40m. Safcom was the most active counter in terms of value traded with a total of 27.70m shares traded thanks to a few rather large crosses with foreigners accounting for 72% of purchases while they accounted for 92% of sales. Equity Bank was relatively active ahead of results due to be released tomorrow with a total of 3.65m shares traded as foreigners accounted for 89% of purchases. Bamburi Cement was rather active thanks to a large cross where the buyer and seller was local, a total of 360k shares changed hands in the name. Kenya Commercial Bank will also release results tomorrow and was rather active as 2.57m shares traded with foreigners accounting for 94% of purchases. Foreigners were net buyers and accounted for $2.92m of total purchases while they accounted for $2.24m of total sales. The market closed higher with the NSE 20 Index gaining 0.85% to close at 3,878.49.

Mauritius: Semdex -0.13%, USD 100k

It was a particularly dire session in Mauritius today with a paltry USD 100k trading while the market made a small advance of +13bps. Only four of the names from the Sem-7 actually traded today, MCB, SBM, NMH and ENL Land. MCB and NMH the most active. MCB added +60bps to close at 166, NMH gained +0.76% to close at 66.5 while SBM fell -0.61% to close at 81.5.

Nigeria: ASI -0.17%, USD 18.56m

The market opened higher and edged up as the session went by before falling back into the close and eventually closing in the red. The session was relatively active with quite a few results being released during trading, Zenith numbers were largely in-line with expectations (PAT +32.1%) - the name closed -1.4% lower. NB released numbers (PAT +2.2%) and closed the session +0.86% better off. Nestle closed the session flat after posting PAT oh +51.6%. Mid-tier bank IBTC showed closed +1.84% in the black (PAT +29.72%). The banks had a mixed session with no real trend evident, -0.14%. DangC closed flat after losing ground in yesterday’s session. Notable losers included Access -4.44%, Flourmills -4.00% and UACN -4.29%. The highest value of trades were in FBN, GTB, Zenith, Fidelity, and PZ.

South Africa: Top 40 +0.14%, USD 1.24bn

The JSE ended the day higher with the Top 40 Index gaining 0.14% to close at 29,911 while value traded amounted to USD 1.24bn. Industrials were the day's biggest gainers with the Index gaining 0.80% followed by Financials and Resources which gained 0.41% and 0.09% respectively. The Rand was trading at 8.46 and 10.27 to the USD and EUR respectively by the time local markets closed.

Zambia: LuSE +0.78%, USD 102k

Decent enough day in Zambia with value traded amounting to USD 102k Thanks to a cross in ZSUG. The names that traded included AELZ, FQM, LAFA, REIZ, SCBL, ZABR, ZSUG and ZNCO. ZSUG was the biggest contributor towards turnover with value traded in the name amounting to USD 80k. LAFA was the second biggest contributor towards turnover with value traded in the name amounting to USD 8k.

Zimbabwe: Industrial Index +0.19%, Mining +2.48%, USD 570k

The equities market extended gains into mid-week trades, its third straight gain this week, as both indices firmed. The industrial index was 0.19% firmer at 132.84 points. The mining index rose an impressive 2.48%. Low foreign investor participation saw turnover slump to $568,537. Nine stocks out of the 36 active stocks recorded gains, two recorded losses while 25 traded at previous prices. BARCLAYS and TA HLDS rose 3.23% and 0.92% to 3.2c and 11c respectively. Retail group OK advanced 3.60% to 11.5c ahead of its AGM this Friday. Most heavy cap stocks traded unchanged: Innscor (58c), Econet (425.3c), DZL (16c) and Old Mutual (155c). Delta was steady at 68c though it closed net sellers ahead of its AGM in the afternoon. Delta reported a 15% growth in revenues to $165m for the first quarter despite a 1% decline in overall volumes due to shift in product mix towards higher value Lager brands. The group recorded a 38% and 37% growth in EBT and attributable earnings to $24.3m and $17.6m respectively. Agro stocks Seedco and Hippo were the only stocks to record losses after Seedco eased 1.185 to 84c with Hippo recording marginal 0.01% drop to 100c. The resources sector was spurred by gains in RIOZIM which advanced 10% to 55 cents. Bindura, Falgold and Hwange were unchanged at previous trading levels.