Movers & Shakers: July 26, 2012

African Currencies as at GMT 15:30

Botswana: DCI -0.04%, USD 2.7m

The market vale traded soared to $2.7m due to a cross in Letshego of almost 13.6m shares at a price of 140 which accounted for 90% of the total value traded. 10 other names traded with one winner Chobe +2t closing at 257t and one loser Nap -1t closing at 219t.

Egypt: EGX 30 +0.16%, USD 46m

The market managed to end the day in positive territory, leaving the EGX30 to end the day up 0.16% to close at 4753.12 points. Volumes were within recent market average turnover, market traded a total turnover of USD 46m. Volatility continued throughout the day today in Egyptian blue-chips as institutional investors (local and international) continue to be net sellers in the market, yet GCC institutions and local retail investors supported the market end the day as net-buyers. HRHO bucked the general trend to end the day down 1.38% to last print at EGP12.68, this came after announcement that the EFSA declared that the ratification of shareholders doesn't mean approval of QInvest deal, which cascaded a shadow over the HRHO's future, the increased risk on the Qinvest deal should not have a significant effect on the stock and might be as a positive trigger from some investors who did not like the Q-invest deal and that might open opportunity for other tender offers possibilities.

Investor mix:
•  Foreigners were net Sellers by 33.53 mn EGP and were 18.24% of the market.
•  Egyptians were net Buyers by 26.89 mn EGP and were 76.40% of the market.
•  Arabs were net Buyers by 6.64 mn EGP and were 5.36% of the market.
•  Institutions were net Sellers by 24.67 mn EGP and were 29.29% of the market.
•  Retail were net Buyers by 24.67 mn EGP and were 70.70% of the market.

Kenya: NSE 20 +0.0008%, USD 3.08m

Activity dropped off today with value traded amounting to $3.08m. Safcom was rather active once again today with a total of 21.47m shares traded in the name thanks to a few large crosses as foreigners accounted for 77% of purchases while they accounted for 93% of sales. Foreigners accounted for the majority of sales (76%) in EABL as a total of 260k shares traded in the counter. Kenya Commercial Bank reported H1 2012 results which saw PAT increase 50%. EQBNK also reported H1 results which saw PAT increase 14%. Foreigners were net sellers and accounted for $1.69m of total sales while they accounted for $1.22m of total purchases. The market closed the day flat at 3,878.52.

Mauritius: Semdex +0.04%, USD 1.73m

Turnover increased to $1.7m today. All but one name from the SEM-7 closed unch, NMH -0.75% to MuR66.00. The greatest contributors to the activity were MCB and Terra, in that order, collectively they accounted for over 90% of the value traded.

Nigeria: ASI -0.06%, USD 19.76m

The market opened lower today before making a strong comeback towards the end of the session – the reverse of the trend in the last two sessions – eventually closing only 6bps lower. The banks accounted for over 40% of the mkt activity – Zenith , FBN and GTB were the main contributors from within the sector. Access was the standout from top tier +4.92% while Diamond, Fidelity and FCMB were the names well into the black from the mid-tier sector +4.23%m +4.38% and +3.47% respectively. The conglomerates were quiet in terms of movement and activity levels. From the food & bev names Cadbury and Dangote Sugar made good gains +1.69% and +3.98% respectively NB lost a -43bps but was very active $5.1m.

South Africa: Top 40 +0.83%, USD 1.43bn

The JSE ended the day higher with the Top 40 Index gaining 0.83% to close at 30,159 while value traded amounted to USD 1.43bn. Industrials were the day's biggest gainers with the Index gaining 1.09% followed by Resources and Financials which gained 0.75% and 0.24% respectively. The Rand was trading at 8.26 and 10.17 to the USD and EUR respectively by the time local markets closed.

Zambia: LuSE -0.32%, USD 39k

Quiet day with value traded amounting to USD 39k. The names that traded included CECZ, LAFA, PUMA, SCBL, and ZNCO. ZNCO was the biggest contributor towards turnover with value traded in the name amounting to USD 27k. SCBL was the second biggest contributor towards turnover with value traded in the name amounting to USD 9k.

Zimbabwe: Industrial Index +0.17%, Mining unch, USD 5.1m

The industrials extended gains for the fourth successive session this week albeit in marginal gains +0.17% as gains in ten stocks outweighed losses in six stocks. There was significant activity in selected stocks with market’s mainstay of trades being seen in beverages group Delta where 3,718,235 units exchanged hands at a stable price of 68c in the aftermath of the group’s AGM where management reported a 15% increase in Q1 revenues despite volumes being 1% down as mix changes bore fruit. A block trade in Hunyani where about 6% of the stock’s outstanding scrip exchanged hands at 9c also highlighted the market while other notable trades were seen in Mash and AICO to see daily value of trades surge almost tenfold to $5.1m. Foreigners fed the demand with an estimated 55% of the purchases being foreign while only 6% of the supply was coming from foreign players. The mining index was flat110.12pts as Hwange traded stable at 23c while there were no trades in Bindura, Falgold and RioZim and quotes were unchanged either.