Movers & Shakers: June 20, 2013

Botswana: DCI +0.03%, USD 467k

As per yesterday, Letshego (230t) led the activity charts with BIHL (1050t) the second most active. Outside of these names not much happened.

Egypt: ASI -1.24%, USD 49m

The market continues to trade with a negative sentiment lead by notable selling from local (retail and institutions) investors, leaving the EGX30 to end the day down 1.24% to close at 4,625.81 points. Market volumes were significantly high today relative to recent turnovers, yet it’s worth mentioning that more than 20% of the total turnover was attributed to crosses in names such OCIC, COMI and ORTE, the market traded a total turnover of USD 49m. The market traded a the day with notable selling but with less selling momentum compared to the previous sessions, local institutional investors went back to be notable sellers after being the buyers yesterday, names such as ETEL, ORTE and OCIC witnessed notable selling each ending the day down 5.13%, 2.81% and 1.82% respectively, yet names such as MOIL EKHO and CCAP managed to trade against the general market sentiment leaving each to end the day up 2.27%, 1.45% and 1.33% respectively.

Investor mix:
•  Foreigners were net Buyers by 1.32 mn EGP and were 55.80% of the market.
•  Egyptians were net Sellers by 31.47 mn EGP and were 35.82% of the market.
•  Arabs were net Buyers by 30.15 mn EGP and were 8.38% of the market.
•  Institutions were net Buyers by 1.95 mn EGP and were 61.96% of the market.
•  Retail were net Sellers by 1.95 mn EGP and were 38.03% of the market.

Kenya: NSE 20 +0.17%, USD 9.7m

The equities market remained upbeat today with the NSE 20 index rising 0.17% to 4713.4 points as large caps continued to recoup losses. Foreign investors continued to dominate trading accounting for 64% of trades compared to 60% in the previous session. Safaricom continued to witness active foreign investor trading mainly on the buys side, with the counter accounting for 47.2% of the day’s volumes. Insurance stocks Britam and PanAfrica, recouped some of the losses made in previous sessions gaining 4.6% each to KES 8.00 and KES 56.50 respectively. The two companies are heavily weighted on quoted equities and are poised to record strong investment income earnings FY13 should the market perform well. Equity Bank and KCB also continued to recoup their losses climbing 4.7% and 2.6% respectively. On the losing end, Kenya power continued to see selling pressure easing 1% to a new year low of KES 14.95. The stock has witnessed negative sentiment following a directive by the government not to increase power tariffs. Kenya Power has been pushing for an increase in power tariffs citing the need to raise additional capital to finance its operations.

Mauritius: Semdex -0.12%, USD 436k

The Mauritian bourse continues to trade in thin volumes as the indices fell. The Sem-7 lost 3 bps with the fallers including NMH (-35bps, Rs72) and Alteo (-14bps, Rs36.30 while the only gainer was Terra which gained 24bps to Rs42.60.

Nigeria: ASI -0.47%, USD 31.3m

The Nigerian index fell by 47bps with banks leading the way down. The banking sector closed down 1.87% with profit taking across Tier 1 names the most notable. The biggest fallers were GTB (-3.08%, N25.20) followed by Diamond (-2.93%, N6.30) and Skye Bank (-2.92%, N4.66). The consumers (+6bps) saw some good two way with the most active names being Unilever (-5.86%, N61) and NB (+1.16%, N156.45) while Nestle (unch, N991) also saw decent action. Wapco also saw some decent crossing and ended the day down 27bps at N90.75.

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

South Africa: Top 40 -3.28%, USD 2.59bn

The JSE ended the day lower with the Top 40 Index falling 3.28% to close at 35,199 while value traded amounted to USD 2.59bn. Industrials were the day's biggest losers with the Index falling 3.35% followed by Resources and Financials which fell 3.30% and 2.74% respectively. The Rand was trading at 10.23 and 13.53 to the USD and EUR respectively by the time local markets closed.

Zambia: LuSE +0.14%, USD 5k

Ridiculously slow day in Lusaka with value traded amounting to a paltry USD 5k. Unfortunately there is nothing to speak of seeing that turnover and activity was so low.

Zimbabwe: Industrials -0.52%, Mining -1.8%, USD 1.2m

Industrials came down -0.52% to 218.30pts on increased selling pressure. PGI was the highest faller, easing 12.5% to 0.7c with sellers @ 0.8c. Banking group ABC reportedly to have paid $10m last week in a lawsuit by Mackey Diamonds was downgraded -9.1% to 50c. Bankers ZB also slid -4.6% to 10.5c. Profit taking continued to take its toll in heavy caps with losses being recorded in cement manufacturer Lafarge -5% down 95c, Econet -4.3% to 67c, diversified group Innscor -2.1% to 97c and insurance giant Old Mutual -1.7% to 235c. Rio weakened -10% to 45c on imminent selling weighing on the resources Index which fell -1.8% to 71.1pts. Turnover of the day came down -26.3% to $1.2m. Foreign buys were up +38.9% to 0.42m while no foreign sales were recorded

African Currencies