Movers & Shakers: June 26, 2013

Botswana: DSE +0.43%, USD 2.68m

Impressive day in Gaborone with value traded amounting to USD 2.68m thanks to a cross of 8m Letshego which accounted for 82% of today's turnover. There was also a little bit of action in FNB as 514k shares changed hands while 87k BIHL traded on the day.

Egypt: EGX 30 +2.37%, USD 26m

The market managed to end the day notably higher, leaving the EGX30 to end the day up 2.37% to close 4641.08 points, yet the surge was attributed to one name OCIC which carry’s the highest weight in the EGX30, the name witnessed aggressive buying after t EFSA's approved for the EGP255 tender which left the name to end the day +10% to close at EGP238.09. The market continues to trade weak volumes yet a slight improvement to recent average turnover, the market traded a total turnover of USD 26m. With increasing frustrations from the continuous shortage of petrol and power-cuts hiking concerns on how the regime is handling resources all adding up to the fears of escalation on the 30th of June, international institutions ended the day as notable sellers targeting names such as ESRS, ETEL and COMI each ending the day down 2.13%, 1.48% and 0.56% respectively, yet local investors ended the day as net-buyers after being net sellers over the last couple of weeks, targeting names such as OCIC, CCAP and HRHO each ending the day up 10%, 1.65% and 0.41% respectively.

Investor mix:
•  Foreigners were net Sellers by 34.72 mn EGP and were 32.70% of the market.
•  Egyptians were net Buyers by 20.36 mn EGP and were 58.43% of the market.
•  Arabs were net Buyers by 14.35 mn EGP and were 8.86% of the market.
•  Institutions were net Sellers by 23.49 mn EGP and were 46.06% of the market.
•  Retail were net Buyers by 23.49 mn EGP and were 53.93% of the market.

Kenya: NSE 20 -0.83%, USD 5.8m

Activity at the market remained generally flat, with the benchmark index heading lower as local institutions speculated that the government might need to borrow substantially in the domestic market, especially if current wage demands by unions are agreed to. As a result, most investors have been keen to place their funds either in the treasury bills, whose rates continue to decline, or lock their funds into the longer dated bonds at a much higher rate- thus a situation of higher than normal cash position for fund managers. The government has also announced plans to raise USD 1bn through a sovereign bond, even though it could have raised a lot more. During the day, foreign investors accounted for 51.3% of selling, up from 48.4% in the previous session. Liberty Insurance lost 9.3% leading other insurers lower. Jubilee Insurance, CIC Insurance and Pan Africa Insurance were among the leading losers of the day with the market having little appetite for them. Olympia Capital was unchanged but traded thin volumes after it issued a profit warning. Centum notched 8.3% higher on local investor demand. KenolKobil had a relief rally, gaining 2.2%.

Mauritius: Semdex -0.41%, USD 1.20m

Things slowed down in Mauritius today with value traded amounting to USD 1.20m. Profit taking in market heavyweight MCB continued with the bank falling 0.80% to close at 185.00 on 97k shares with a few crosses taking place. SBM also came under pressure and fell 0.97% to close at 1.02 with 1.62m shares changing hands. There were a few crosses in NMH with 129k shares traded over the day as the hotelier fell 0.35% to close at 71.00.

Nigeria: ASI +0.97%, USD 36.94m

Banking stocks bounced back with a vengeance as the Bank 10 Index gained a very impressive 2.60% thanks to the likes of Skye Bank (+9.54%), Diamond Bank (+8.91%), First Bank (+8.26%) and Zenith Bank (+5.15%). Banks also led from an activity point of view with $11.01m worth traded in Zenith and $3.74m in Guaranty Trust Bank. Consumers also managed to bounce back with the Consumer Goods Index gaining 1.10% as Cadbury closed limit up (+10%) at 55 and Nigerian Breweries managed to gain 3.39% to close at 155.10. DangCem was however a drag on the market with the counter falling 1.03% to close at 188.00.

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

South Africa: Top 40 +1.14%, USD 1.65bn

The JSE ended the day higher with the Top 40 Index gaining 1.14% to close at 34,577 while value traded amounted to USD 1.65bn. Financials were the day's biggest gainers with the Index gaining 2.97% followed by Industrials which gained 2.48% while Resources fell 2.13%. The Rand was trading at 10.12 and 13.15 t the USD and EUR respectively by the time local markets closed.

Zambia: LuSE unch, USD 347k

Better day in Lusaka with value traded amounting to an improved USD 347k. The names that traded included BATA, CEC, NATB, PUMA, SCZ, ZSUG, ZNCO and PRIMA RE. ZNCO was the biggest contributor towards turnover with value traded in the name amounting to USD 304k. ZSUG was the second biggest contributor towards turnover with value traded in the name amounting to USD 14k.

Zimbabwe: Industrials -0.38%, Mining unch, USD 950k

Mixed trading was witnessed on the market today with the industrials falling -0.38% to 214.43pts on selling pressure in heavy weight stocks. This was also on the back of investors taking a wait and see attitude as political developments unfold. Top capitalized stocks which faltered were Delta -1.4% softer to 146c, Innscor -0.6% lower at 90.5c, Old Mutual down -2.5% to 230c and PPC -2.4% softer at 245c. African Sun was the leading faller with its -13.04% decline ahead of its interims today. The bearish sentiment saw tyres manufacturer NTS shedding -9.5% to 2.1c with buyers remaining at its support price of 2c. Bankers NMB slid -5.6% on paltry trades while short-term insurer Nicoz Diamond eased -3.2% to 1.5c. Turnover for the day was down -68% to $0.95m. Foreign demand waned -23% to $0.8m while foreign sales surged +140% to $0.8m. Minings were unchanged at 73.29pts with the only trade in the sector taking place in Hwange at prior price of 17.5c.

African Currencies