Movers & Shakers: June 18, 2013

Botswana: DCI unch, USD 46k

Exceptionally quiet day in Gaborone with value traded amounting to a very dissapointing USD 46k. Market breadth was very thin with only two counters (BIHL and Choppies) trading on the day.

Egypt: ASI +1.09%, USD 19m

The market managed to trade the day in the greens yet on extremely low volumes, leaving the EGX30 to end the day up 1.09% to close at 4,709.25 points. Market volumes were significantly low relative to recent turnovers, the market traded a total turnover of USD 19m. The market managed to pick up to trade in the greens on very little momentum this was mainly lead by institutional (International and GCC) targeting names such as JUFO, OCDI and ORTE, each ending the day up 2.20%, 1.62% and 1.53% respectively, yet local investors(institutions and retail) investors continue to be net in the market targeting names such as AMER, EKHO and MOIL each ending the day down 2.56%, 1.49% and 1.12% respectively.

Investor mix:
•  Foreigners were net Buyers by 10.94 mn EGP and were 29.42% of the market.
•  Egyptians were net Sellers by 15.25 mn EGP and were 64.24% of the market.
•  Arabs were net Buyers by 4.31 mn EGP and were 6.33% of the market.
•  Institutions were net Buyers by 8.47 mn EGP and were 43.41% of the market.
•  Retail were net Sellers by 8.47 mn EGP and were 56.58% of the market.

Kenya: NSE 20 -2.19%, USD 5.9m

The NSE 20 index witnessed its largest one day decline YTD, easing 2.19% to close at 4,701.2 points. Of the counters traded 32 declined and only 6 gained. Leading the top losers list were insurance stocks Britam and Kenya Re which eased 7.4% and 5.66% to KES 7.50 and KES 15 respectively. Investors may be jittery about the sudden downturn in the equities market which could negatively impact investment income of insurance companies. BAT was also among the top losers today, slipping 6.2% to KES 541 after touching a new 12 month high yesterday. Other large caps that continued to tread lower include KCB, EABL and Barclays which declined 2.7%, 1.5% and 1.2% to KES 36.25, KES 16.50 and KES 336 respectively. Touching a new 12 month low today, Kenya Airways eased 3.8% to KES 10. Last week the airline posted a KES 7.9bn FY13 loss which was larger than expected. Safaricom and Equity Bank saw some reprieve in today’s trading session gaining 3% and 0.8% to KES 6.90 and KES 31.50 respectively. Turnover improved 60% today, with local investors accounting for the majority of trades (participation at 74%).

Mauritius: Semdex +0.45%, USD 951k

Not much on the go in Mauritius today with value traded amounting to USD 951k as MCB once again dominated activity with a total of 92k shares changing hands thanks to a few decent crosses in the counter. There was a slight increase in activity in NMH thanks to a cross of 31k shares while SBM was rather dead as 551k shares traded.

Nigeria: ASI -0.16%, USD 21.82m

It was a mixed day in Lagos with the two major sectors experiencing mixed fortunes with the Bank 10 Index gaining 1.86% while the Consumer Goods Index fell 1.92% as value traded amounted to a rather somber $21.82m. Zenith Bank (+4.50%) and Access Bank (+3.85%) were the main drivers behind the banking sectors rally. Consumers were dragged lower by Flour Mills which got absolutely slaughtered and closed limit down (-10%) at 93.60. In terms of activity it was the usual suspects that drove turnover with Zenith Bank ($2.59m), First Bank ($2.19m) and Guaranty Trust Bank ($1.96m) leading the charge while Nestle ($1.64m) was also rather active.

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

South Africa: Top 40 +1.84%, USD 1.77bn

The JSE ended the day higher with the Top 40 Index gaining 1.84% to close at 36,599 while value traded amounted to USD 1.77bn. Financials were the day's biggest gainers with the Index gaining 2.43% followed by Industrials and Resources which gained 2.15% and 0.77% respectively. The Rand was trading at 9.99 and 13.40 to the USD and EUR respectively by the time local markets closed.

Zimbabwe: Industrials +0.2%, Mining +0.54%, USD 3.m

Market activity improved in Tuesday’s trading session that saw volumes rise +124% to 10.69m and turnover +759% to $3m buoyed by a block trade on beverages giant Delta at an improved price of 150c up 0.67% on foreign demand. Foreign players contributed to the market’s recovery from yesterday levels with purchases rising +1,734% to $2.1m and sales +350% to $0.49m. Number of trades also improved +32.9% to 101. The ZSE top capitalized stock commanded 65% ($2m) of today’s trades with other notable contributions to daily turnover coming from retailers OK at 8.8% ($0.27m) and property stock Pearl at 3.4% ($0.11m). Industrials recovered putting on +0.2% to 220.13pts on the back of gains in banking group Barclays +16.5% to 5.01c, beverages group Delta +0.67% to 150c and property concern Pearl +6.4% to 3.51c on huge market appetite. Minings were also firm strengthening +0.54% to 72.97pts lifted by Rio’s +2% rise to 50c. The other trade in the sector took place in Bindura at its prior level of 2.7c.

African Currencies