Movers & Shakers: June 19, 2013

Botswana: DCI -0.05%, USD 525k

Some action across a few counters in Gaborone. Letshego saw most of the action and closed at 230t while BIHL was the second most active and closed at 1050t. The other names saw muted action.

Egypt: ASI -0.54%, USD 19m

The market managed to pick its bearish momentum leaving the EGX30 to end the day down 0.54% to close at 4,684.04 points. Market volumes continue to be significantly low relative to recent average turnovers, the market traded a total turnover of USD 19m. The market witnessed a notable slow session to continue with its profit booking sentiment lead by local institutions and local retail investors were names such as ORTE, COMI and ETEL witnessed selling pressure each ending the day down 1.76%, 1.85% and 0.59% respectively , also the real-estates sectors witnessed some selling pressure, name such as TMGH, OCDI and PHDC ended the day down 0.51%, 2.21% and 2.50%, its worth mentioning that local institutions started the day as net-buyer. OCIC was one of few names to trade in the greens today, this comes after OCI NV attained shareholders’ approval for the MTO, the name ended the day up 1.30% to close at EGP229.07.

Investor mix:
•  Foreigners were net Buyers by 9.49 mn EGP and were 37.15% of the market.
•  Egyptians were net Sellers by 20.86 mn EGP and were 52.10% of the market.
•  Arabs were net Buyers by 11.37 mn EGP and were 10.75% of the market.
•  Institutions were net Sellers by 2.93 mn EGP and were 45.81% of the market.
•  Retail were net Buyers by 2.93 mn EGP and were 54.18% of the market.

Kenya: NSE 20 +0.08%, USD 13.1m

The Equities market was upbeat with turnover rising 122%, driven by increased foreign investor participation at 60% of trades compared to 26% in the previous session. The NSE 20 Index saw some reprieve today gaining 0.08% to 4705.2 after falling for the past eight sessions. Investor’s seemed to have shrugged off the negative sentiment around the capital gains tax, with treasury indicating that the parameters around the tax have not been set and that the process would be consultative. Safaricom (+0.7%) was the day’s top mover accounting for 37% of volumes driven by strong foreign investor demand. EABL also witnessed strong foreign demand climbing 0.9% to KES 339, recouping some of its losses. Banking stocks KCB and Equity also recovered today from previous losses, edging up 4.1% and 2.4% to KES 37.75 and KES 32.25 respectively, with foreign investors being net sellers on the counters and locals taking up most of the supply. On the losing end Kenya Airways extended its losses easing 1% to a new low of KES 9.90.

Mauritius: Semdex -0.10%, USD 962k

A soft day in Port Louis while we saw mixed performance in the Sem-7. The fallers included MCB (-53bps, Rs188) and Alteo (-14bps, Rs36.35) while the gainers included NMH (+35bps, Rs72.25), Terra (+1.19%, Rs42.50) and Bramer Banking (+57bps, Rs7.00).

Nigeria: ASI +0.30%, USD 32.95m

After a few days of profit taking the buyers returned to Lagos, in particular in the banks and the consumers. The banks gained 1.62% with Tier 1 names in particular outperforming. The best of the bunch was GTB which gained 4.12% to N26 while ETI (+2.36%, N15.20) and UBA (+2.12%, N8.68) were also strong. Buying also returned to the consumers with the sector gaining 1.53%. The main gainers were Unilever (+8%, N64.80) and NB (+2.97%, N154.66) while the rest of the sector was mixed. Dangote Cement lost 2.01% and closed at 195.

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

South Africa: Top 40 -0.57%, USD 1.60bn

The JSE ended the day lower with the Top 40 Index falling 0.57% to close at 36,391 while value traded amounted to USD 1.60bn. Financials were the day's biggest losers with the Index falling 1.09% followed by Resources and Industrials which fell 0.64% and 0.34% respectively. the Rand was trading at 9.96 and 13.34 to the USD and EUR respectively by the time local markets closed.

Zambia: LuSE +0.03%, USD 43k

Not much on the go in Lusaka with value traded amounting to USD 43k. The names that traded included ATEL, CEC, REIZ, PRIMA RE, ZAMEFA and ZNCO. PRIMA RE was the biggest contributor towards turnover with value traded in the name amoutning to USD 14k. CEC was the second biggest contributor towards turnover with value traded in the name amoutning to USD 2k.

Zimbabwe: Industrials -0.68%, Mining unch, USD 1.43m

Mixed trades were witnessed in a mid week session that saw the Industrial Index easing -0.68% to 219.45 pts weighed down by a -0.67% retreat in market leaders Delta to 149c. Delta’s likely to continue trading sideways as buyers and sellers continue taking their positions. Dairy products manufacturers DZHL also weighed on the industrials after shedding -13.8% to 25c following a profit warning to shareholders ahead of the end of its H1 interim period. The company advised that first half profitability is expected to be lower than same period last year due to plant and staff rationalization costs to realized in first half coupled with liquidity challenges in the market. Mitigating the losses for the day were gains in conglomerate Meikles that has been on a steadily rising trajectory since the release of its 2013 full year results. In today’s trades Meikles added +5.17% to 30.5c. The resources index closed flat at 72.97pts as there were no trades in the cluster.

African Currencies