Movers & Shakers: June 18, 2014

Botswana: DCI +0.08%, USD 81k

Nothing much took place in Gaborone today. Certainly nothing to write home about.

Egypt: +0.51%, USD 96m

The EGX30 managed to end the day on a positive note, adding 0.51% on significantly low volumes of EGP687 million. Institutional investors (local and foreign) managed to support the index ending the day as net buyers (EGP37.2 million), targeting COMI, up 0.30% and trading two-thirds the three-month average volume, GTHE, up 1.29%, and ETEL, up 0.44%. OTMT led the market on a 0.79% hike. AMER and PIOH followed suit, up 2.99% and 1.25% respectively. HRHO +2.33% started trading mid-session following EFSA's approval of the 20% Sawaris-led consortium tender offer.

Kenya: NSE 20 +0.55%, USD 15.3m

Total activity increased dramatically on the back of increased foreign participation. Safcom was heavily traded and shed 40bps to KES12.80 as foreign investors sold the telco in big size. KNCB closed unchanged at KES49.75 while Equity Bank continues to rally hard (+2.3%, KES44.25). TCL witnessed a foreign cross (+1.1%, KES23.75) while EABL ended the day unchanged at KES276.

Mauritius: Semdex -0.05%, USD 20.2m

Today’s action was heavily skewed by the acquisition of Sun Resorts stock by Ciel which accounted for the bulk of the abnormally high trading. In normal trading we saw most of the focus on MCBG (unch, Rs218) and SBM (+96bps, Rs1.05).

Nigeria: ASI +0.09%, USD 33.9m

Some decent crosses in Nestle and NB were the main focus in today’s session. The banks closed marginally in the green with most names hugging their opening prices. There were decent volumes in the usual suspects - FBNH, GTB and Zenith. Consumers gained 85bps with a rebound in NB (+1.57%, N167) and Nestle (+94bps, N1070) the main reasons for the outperformance. Oando continues to run hard as it gained another 10% to N25.00 on good volumes. News out after the session confirmed the approval from the Nigerian government of Oando Energy’s $1.65bn acuiqistion of ConocoPhilips Nigerian Oil and Gas.

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

Zimbabwe: Industrials +0.81%, USD 2.45m

Strong demand found its feet again after yesterday’s momentary blip with names like Delta (+85bps, 118c) and Econet (+2.08%, 73.5c) both well bid. Econet is now up an impressive 22.5% YTD. Turnover was also much improved although foreign activity remains skewed to the buy side.

African Currencies

Country

Notation

Currency

YTD %

South Africa

ZAR

10.73

- 2.31

Nigeria

NGN

163.15

-.1.74

Kenya

KES

87.55

-.1.43

Mauritius

MUR

30.40

-.1.15

Botswana

BWP

8.88

+.1.56

Tanzania

TZS

1684.00

-5.58

Uganda

UGX

2580.00

-2.05

Rwanda

RWF

683.00

-1.14

Ghana

GHS

3.25

-26.92

BRVM

XOF

486.16

-1.24

Egypt

EGP

7.15

-2.84

Morocco

MAD

8.25

-0.84

Tunisia

TND

1.66

-1.24
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