Movers & Shakers: November 01, 2012

African Currencies

Botswana: DCI -0.03%, USD 24k

The market was active in terms of number of stock trading but the total value traded was a dire $24k. 54 names added to their mkt cap while 3 lost ground. The 5 winners were Furnmart, Letshego, Sechaba, Sefalana and Turnstar. Barclays, FNBB and Primetime were the three names to decline.

Egypt: EGX 30 -2.14%, USD 87m

The market witnessed another sell-off today lead notable selling from Institutional investors, leaving the EGX30 to end the day down 2.14% to close at 5,574.18 points. Market volumes improved relative to recent market turnovers, market traded a total turnover if USD 87m. The market witnessed another panic today, this is mainly attributed to the many pending issues such as the IMF loan and the ongoing tax issue with OCIC, adding to this the court ruling voiding Centamin's(CEY LN) Sukari gold mine clearly had a negative impact on the market. ESRS got a notable hit today this came after Ahmed Ezz’s lawyer Farid El Deeb withdrew from defending him in the case of El Ezz Aldekheila (IRAX EY, Price: EGP520.49, Under Review), El Deeb withdrew from the case due to reasons pertaining to procedures for a settlement with the Egyptian government which he was seeking to reach, and Ezz refused, the former ended the day down 5.64% to close at 9.70.

Investor mix:
•  Foreigners were net Sellers by 15.10 mn EGP and were 15.40% of the market.
•  Egyptians were net Buyers by 9.35 mn EGP and were 76.39% of the market.
•  Arabs were net Buyers by 5.74 mn EGP and were 8.22% of the market.
•  Institutions were net Buyers by 56.81 mn EGP and were 25.87% of the market.
•  Retail were net Sellers by 56.81 mn EGP and were 74.12% of the market.

Kenya: NSE20 -0.34%, USD 5.21m

Another decent day in Kenya with value traded amounting to $5.21m. Kenya Power was rather active with locals dominating trade in the name as a total of 5.66m shares traded. Foreigners accounted for 96% of sales in Equity Bank as a total of 3.04m shares traded thanks to a few large crosses. Safcom was quite active today as foreigners dominated activity in the counter (93% of purchases and 92% of sales) as a total of 14.61m shares traded. Foreigners were net buyers and accounted for $2.23m of total purchases while they accounted for $1.69m of total sales. The market closed the day lower with the NSE 20 Index falling 0.34% to close at 4,133.28.

Mauritius: Semdex -0.42%, USD 2.49m

The total value traded was a respectable $2.49m although the market lacked much 2-way, with two lesser known names collectively accounting for 60% of the activity (MCFI and CFS). MCB was not as active as usual but it still managed to top the activity chart from the Sem-7 – closely followed by Terra. The rest of the Sem-7 names struggled to get off the mark. SBM and ENL Land were the losers -0.62% and -2.44% respectively while the two winners were NMH and Rogers which gained +0.93% and +0.65% respectively.

Please note that tomorrow is a holiday in Mauritius and as such the market will be closed.

Nigeria: ASI +0.64%, USD 17.42m

The market opened higher today after taking a smack yesterday, the market intitially rallied hard before falling far from the day’s highs but still +64bps better off than it opened the day. The banks were mixed but largely skewed to the upside, Access was a notable loser -2.25% while UBA added +2.18% and Diamond Bank added +3.69%. Market heavyweight DangC released results today, the name closed unch at N120.11. Rev +19.81%, PBT +13.49% and PAT +15.48%. The bigger food names struggled, Cadbury -3.57%, DangS -0.18% and Nestle -0.89% while Brewery NB soared +5.61% on the day. 24 stocks advanced, 27 declined and 66 remained unchanged. The highest value of trades were in Nestle, Guinness, GTB and FBN.

South Africa: Top 40 +0.70%, USD 1.44bn

The JSE ended the day higher with the Top 40 Index gaining 0.70% to close at 33,239 while value traded amounted to USD 1.44bn. Industrials were the day's biggest gainers with the Index gaining 0.85% followed Resources and Financials which gained 0.65% and 0.23% respectively. The Rand was trading at 8.66 and 11.20 to the USD and EUR respectively by the time local markets closed.

Zambia: LuSE unch, USD 170k

Much better day in Lusaka with value traded amounting to USD 170k thanks to a cross in Zambeef. The names that traded included CEC, LAFA, SCZ, ZMBF and ZANACO. ZMBF was the biggest contributor towards turnover with value traded in the name amounting to USD 108k. ZANACO was the second biggest contributor towards turnover with value traded in the name amounting to USD 25k.

Zimbabwe: Industrial Index +0.84%, Mining Index -2.19%, USD 720k

Gains in Delta, Old mutual and Innscor ensured that the ZSE Industrials open November in a positive mood. The mainstream index rose 0.84% to 155.76 points spurred by Delta which rose 3.47% to a new high of 93.12c in the wake of reports that beverages giant is set to commission a new $17m, 700 000 hectolitre lager bottling plant. Delta is scheduled to release its September interims next week. Old Mutual advanced 1.19% to 170c while Innscor picked a marginal 0.01% to 74c. On a YTD basis Delta, Mutual and Innscor are up 33%, 30.77% and 35.78% respectively. Five stocks traded in the negative lead by CFI which eased 8.935 to 5.10c. Trading activity by volumes rose 80% to 4.37m shares boosted by Pearl, and Barclays. Thin volumes in heavy caps however saw daily turnover decline 76% to $0.72m despite significant appetite from foreign investors. Foreign purchases stood at $0.349m from $2.630m while sales improved 32% to $0.311m. The mining index eased 2.19% to close at 91.61 points after coal miner HWANGE was offered 9.1% lower at 20 cents. RIOZIM however gained 3.13% to 66c. Bindura and Falgold recorded no trades and were offered 3c and 20c respectively.