Movers & Shakers: June 11, 2013

Botswana: DCI -0.50%, USD 1m

FNBB yet again accounted for almost all the day’s activity – the name closed at 360t. Outside of this, Letshego saw some action and closed at 231t followed by Choppies (297t).

Egypt: EGX 30 +1.52%, USD 33m

The market managed to gain some of the losses gained in previous sessions to end the day in the greens, leaving the EGX30 to end the day up 1.52% to close at 4,848.60 points. Market volumes were low relative to recent turnovers, the market traded a total turnover of USD 33m. After 7 consecutive sessions of sell offs the market managed to end the day in positive territories lead by notable buying from international institutions who accounted for more than 31% of the total turnover today, targeting name such as COMI, ESRS and JUFO each ending the day up 4.77%, 2.49% and 1.98% respectively, yet local retail investors continue to be notable sellers in the market targeting names such as EGTS, OCDI and HRHO each ending the day down 4.92%, 0.84% and 0.95% respectively, it’s worth mentioning that local institutions traded the day with a mixed sentiment they started the day as net-sellers yet they managed to end the day as net-buyers.

Investor mix:
•  Foreigners were net Buyers by 29.45 mn EGP and were 31.92% of the market.
•  Egyptians were net Sellers by 29.72 mn EGP and were 59.89% of the market.
•  Arabs were net Buyers by 0.269 mn EGP and were 9.20% of the market.
•  Institutions were net Buyers by 20.49 mn EGP and were 51.29% of the market.
•  Retail were net Sellers by 20.49 mn EGP and were 48.70% of the market.

Kenya: NSE 20 -1.42%, USD 8.1m

Equity turnover climbed 70%, buoyed by increased local investor activity accounting for 73% of trades. The NSE 20 index continued to pull back easing 1.42%, with only 12 of the counters traded gaining and 28 declining. Purely on local investor trading, ARM (-1.5%) was the day’s top mover accounting for 24% of volumes. Safaricom was also fairly actively traded with foreign investors accounting for over 90% of its demand. The teleco extended its gains climbing 1.4% to its one month high of KES 7.35. Similarly Kengen and CFC Stanbic maintained their momentum edging up further 1.8% and 4.4% to new 12 month highs of KES 17.15 and KES 71 respectively. On the other hand KenolKobil extended its losses easing 1.5% to KES 9.85. The oil marketer was suspended end of last month from the open tender system. Kenya airways continued on its losing streak on poor FY13 earnings performance expectations, pulling back further 6% to close at a new 12 month low of KES 10.15.

Mauritius: Semdex +0.18%, USD 6.06m

A large cross in SBM accounting for the bulk of the day’s activities, the name accounting for more than 90% of the turnover. The name also closed up 97bps at Rs1.04. The other large cap bank MCB fell by 13bps to Rs194.75 while the only other Sem-7 stock to move was Terra which gained 25bps to Rs40.50.

Nigeria: ASI +0.69%, USD 35.62m

Another very solid day in Lagos from an activity point of view with value traded amounting to $35.62m thanks to the usual culprits Guaranty Trust Bank ($5.06m) and Zenith Bank ($3.39m) while IHS was amongst the more active names thanks to a cross of 299m shares. Consumer stocks were very strong today thanks to the likes of Dangote Sugar (+10.00%), Flour Mills (+9.99%), PZ Cussons (+5.70%) and Cadbury (+5.18%) as both local and foreign investors pushed the counters higher. Banks were also solid with the Bank 10 Index gaining 0.92% thanks to UBA (+5.84%) and Stanbic (+3.66%). After yesterday's busy day, DangCem slowed down as only 716k shares changed hands in the name.

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

South Africa: Top 40 -3.37%, USD 1.90bn

The JSE ended the day lower with the Top 40 Index falling 3.37% to close at 35,256 while value traded amounted to USD 1.90bn. Resources were the day's biggest losers with the Index falling 3.70% followed by Industrials and Financials which fell 3.17% and 3.10% respectively. The Rand was trading at 10.08 and 13.37 to the USD and EUR respectively by the time local markets closed.

Zambia: LuSE +0.22%, USD 4.5k

Absolute dire day in Lusaka today with value traded amounting to a paltry USD 4.5k. With such little activity there is unfotunately nothing to speak of.

Zimbabwe: Industrials +1.63%, Mining unch, USD 3.29m

Bullish sentiment persisted on the ZSE driving the industrial index +1.63% up to 223.58 pts. Worth noting were gains in top capitalized companies Barclays +0.6% to 3.42c, BAT +4.2% to 875c, CBZ +3.5% to 15c, Delta +1.3% to 157c, Innscor +4.8% to 110c, Lafarge +16.3% to 100c and OKZIM +0.4% to 25.1c ahead of its finals tomorrow. New highs were recorded in BAT, Delta and Innscor. All recorded market indicators were positive with +135% surge in value traded to $3.29m and +95.7% increase in volumes to 14.1m. Outstanding volumes of the day were in CBZ (5m), Econet (1.1m) Dawn (1m) and Mash (1.8m). Renewed foreign interest was witnessed with inflows of $2.2m and outflows of $1.1m. Minings were flat at 71.75 pts with trades taking place in Bindura and Rio at previous prices of 2.7c and 50c respectively.

African Currencies