Movers & Shakers: June 24, 2013

Botswana: DCI +0.29%, USD 1.19m

Vibrant start to the week in Gaborone with value traded amounting to USD 1.19m thanks to crosses in Letshego (over 50% of turnover) and Furnmart (1.4m shares). Market breadth was relatively light as only a few counters traded on the day.

Egypt: EGX 30 -0.03%, USD 19m

The EGX30 managed to withstand its position to end the day at 4523 points slightly down by 0.03%, having volumes remain below average at a turnover of USD 19m. Certainly, the negative sentiment is persistently taking over the market; however the market today showed some sort of stability following yesterday's dip and the Army statement from last night giving some indication that they will control the situation on June 30th. The index was mainly weighed down by the pressure from COMI as the name ended the day 2.31% lower. On the other hand, a few names inched up adding support to the index thus preventing it from falling further, the likes of OCI and ETEL which rose by 3.76% and 0.17% respectively, along with the real estate sector's TMGH and PHDC having the former rise 0.07% and the latter 0.05%.

Investor mix:
•  Foreigners were net Sellers by 0.44 mn EGP and were 34.69% of the market.
•  Egyptians were net Buyers by 6.23 mn EGP and were 54.04% of the market.
•  Arabs were net Sellers by 5.79 mn EGP and were 11.27% of the market.
•  Institutions were net Sellers by 11.38 mn EGP and were 46.95% of the market.
•  Retail were net Buyers by 11.38 mn EGP and were 53.04% of the market.

Kenya: NSE 20 -0.56%, USD 6.3m

The equities market started the week on a low note with the NSE 20 index extending previous session losses, easing 0.56% to 4680.3 points. Equity turnover also slipped 4.6% driven by reduced local investor participation. Overall, foreign investors accounted for 71% of trades and were net buyers compared to 65% in the previous session. Equity bank and KCB led the top movers list collectively accounting for 70% of the days volumes. The banks reversed most of last week’s gains with KCB easing 3.2% to KES 37.50 and Equity bank dropping 3.1% to KES 31.50 on active foreign investor trading on both sides of the counters. KenolKobil extended its losses slipping further 3.2% to a new 12 month low of KES 9.05. On the other hand, Uchumi its recouped losses gaining 3.2% to KES 19.60. Similarly BAT extended its gains climbing 4% to KES 567.

Mauritius: Semdex -0.47%, USD 1.22m

Better start to the week in Mauritius as value traded amounted to a much impoved USD 1.22m. MCB drove activity as per usual with 99k shares changing hands in the name and closed flat at 188.00 while SBM was extremely quiet with only 380k shares traded over the day. There was a cross of 100k shares in NMH which helped boost activity in the counter for a change.

Nigeria: ASI -1.65%, USD 25.49m

Things got off to a very slow start this week in Lagos with value traded amounting to $25.49m, and if it weren't for large crosses in the likes of UBA ($9.63m) and Guaranty Trust Bank ($3.12m) turnover would have been far worse. Banking stocks were a major drag on the market with the Bank 10 Index falling -3.95% thanks to the likes of Zenith (-5.54%) and mid-tier banks such as FCMB (-9.55%) and Fidelity (-9.49%). Consumers were more stable but profit taking did however continue in the sector with the Consumer Goods Index falling -0.58% on the back of losses in Dangote Sugar (-6.38%) and Guinness (-1.92%).

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

South Africa: Top 40 -2.53%, USD 1.44bn

The JSE ended the day lower with the Top 40 Index falling 2.53% to close at 33,793 while value traded amounted to USD 1.44bn. Industrials were the day's biggest losers with the Index falling 2.61% followed by Resources and Financials which fell 2.43% and 2.10% respectively. The Rand was trading at 10.11 and 13.23 to the USD and EUR respectively by the time local markets closed.

Zambia: LuSE -0.02%, USD 245k

Decent day to start the week with value traded amounting to USD 245k thanks to a cross in INVESTRUST. The names that traded included CEC, INVESTRUST, ZNCO and PRIMA RE. INVESTRUST was the biggest contributor towards turnover with value traded in the name amounting to USD 236k. PRIMA RE was the second biggest contributor towards turnover with value traded in the name amounting to USD 2k.

Zimbabwe: Industrials -0.32%, Mining unch, USD 840k

Selective selling and waning demand persisted on the ZSE to see the industrial index shedding -0.32% to 216.97 pts. Turnover for the day fell 70% to $840.381 as the market opened the week on a slow note. Today’s leading fallers were insurers Afre which eased -6.3% to 15c and Seedco -5.9% to 80c, both on paltry trades. Retailers OK which declared 0.4c dividend and currently trading cum-div was down -4.2% to 23c closing firmly bid at that level. OK led in volumes traded with 1.7m changing hands. Holding company AICO with March finals due was -2.5% softer at 7.31c. Diversified group Innscor nearing its June year end completed the losers with its -1.1% retreat to 93c. The Miners were unchanged at 71.45pts with a singular trade in Rio at previous price of 45c.

African Currencies