Movers & Shakers: July 30, 2013

Botswana: DCI -0.16%, USD 32k

Nothing of any note to report in Botswana today. The most active name was Furnmart (196t) which accounted for about 77% of the total turnover.

Egypt: EGX +0.76%, USD 31m

The market traded the day with a mixed sentiment to end the day in positive territories, leaving the EGX30 to end the day up 0.76% to close at 5,326.46 points. The market continues to trade weak volumes yet a slight improvement this weeks volumes, the market traded a total turnover of USD 31m. With pro-Mursi planning for massive protests and marches across Egypt today increasing fears of further deadly clashes with civilians and security forces, the market started the day with a negative sentiment to reach a low of 5,274.89 with local retail and international institutions as net-seller targeting names such as HRHO, CCAP and JUFO each ending the day down 1.23%, 0.88% and 0.61% respectively, it’s worth mentioning that local retail investors ended the day as net-buyer. Local institutions ended the day as net-buyers to continue to increase exposure in the market, targeting names such as EFIC(+1.87%), ORTE(1.58%) and ETEL(+0.60%).

Investor mix:
•  Foreigners were net Sellers by 30.96 mn EGP and were 29.32% of the market.
•  Egyptians were net Buyers by 31.42 mn EGP and were 62.26% of the market.
•  Arabs were net Sellers by 0.454 mn EGP and were 8.42% of the market.
•  Institutions were net Seller by 3.02 mn EGP and were 46.93% of the market.
•  Retail were net Buyers by 3.02 mn EGP and were 53.06% of the market.

Kenya: NSE 20 +0.07%, USD 6.9m

Much better day in Nairobi in terms of activity with value traded amounting to $6.9m on the back of an increase in foreign participation. EABL led in terms of turnover (26%) thanks to a few crosses. The brewer has announced (after the close) that it expects its FY13 profits to be more than 25% lower y/y, on account of the one off gain posted FY12 after the sale of its 20% stake in TBL as well as higher finance costs. Safcom managed to extend its recent gains, climbing 1.4% to close the day at 7.25 on the back of foreign purchases. Foreign purchases were also behind the 0.6% rally in Kenya Commercial Bank. Equity Bank on the other hand came under some pressure today after releasing H1 2013 earnings yesterday with the counter falling 0.7%.

Mauritius: Semdex unch, USD 1.53m

A much improved day in Port Louis from a volume perspective while the Sem-7 gained 20bps. The stocks leading the outperformance were MCB (+53bps, Rs189.50), Terra (+20bps, Rs40.20) and Bramer Banking (+1.3%, Rs6.40). The only lower in the Sem-7 was Alteo which fell by 70bps to Rs33.75.

Nigeria: ASI +0.65%, USD 21.54m

The buyers continue to get involved after last week’s weakness as the banks closed up marginally by 4bps although the consumers were up 1.32% after strong buying pushed the sector as well as the ASI higher. Bank performance was rather mixed with no special outperformers in any decent volume. The consumers were led higher by strength in NB (+1.58%, N172), Cadbury (+3.26%, N53.90) and Nestle (+3.75%, N995). In the cement sector, Wapco released results and that gave the name a strong bid as the name finished up 5.54% at N105.01 while Ashaka Cement followed the stock higher to close up 4.8% at N26.20. Other results out for the day included Stanbic IBTC and FCMB.

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

South Africa: Top 40 +0.41%, USD 1.24bn

The JSE ended the day higher with the Top 40 Index gaining 0.41% to close at 36,516 while value traded amounted to USD 1.24bn. Industrials were the day's biggest gainers with the Index gaining 1.70% while Resources and Financials fell 1.00% and 0.65% respectively. The Rand was trading at 9.80 and 13.00 to the USD and EUR respectively by the time local markets closed.

Zimbabwe: Industrials +0.39%, Mining +2.0%, USD 1.13m

The ZSE sustained its positive trajectory to 232.87 pts which is 0.39% ahead of yesterday on the eve of elections. Political parties rounded off their star rallies to an election that is dubbed as watershed in Zimbabwe as the populace chooses between indigenization backed policies, and foreign direct investment backed economics championed by the major contenders. However anxiety has been high despite a peaceful electoral environment with some political sections raising concerns over alleged irregularities especially surrounding the voters roll and possible vote rigging. Elsewhere the resources saw a big jump of 2% to 66.77pts spurred by bindura which rose 2.46% to 2.5c despite reporting a full year loss of circa $13m which is 1.5% lower than last year operations remain under care and maintenance. Rio zim also added 5.26% to 40c. Foreigners exercised caution ahead of uncertain post election times with outflows of $0.63m while foreign sales amounted to $0.9m. Value traded likewise recessed by 22.7% to $1.13m as trades moderated across the market. Volume traded went up 36% to 5.82m shares assisted by a block in CBZ which closed 5.63% firmer to 15c. Other top risers for the day included Pelhams which is up 22% to 0.11c and First Mutual which added 14.3% to 16c as it rises post its rebranding. Elsewhere Phoenix was bid only at 3c after reporting a 52% decline in profitability.

African Currencies