Movers & Shakers: November 01, 2013

Botswana: DCI +0.31%, USD 4.62m

Another high turnover day as Letshego (225t) and BIHL (1055t) traded some really chunky blocks. Also seeing decent action were Choppies (310t) and FNBB (385t).

Egypt: Closed for the day.

Kenya: NSE 20 -0.06%, USD 7m

Foreign buying was once again the most notable component in the Nairobi session despite the NSE 20 slipping ever so slightly. KNCB closed the day unchanged at KES 48.50 after releasing Q3 results last night while Equity Bank gained 70bps to KES 35.75 ahead of their results release early next week (Monday morning). A chunky trade in EABL (both sides foreign) lifted the stock by 30bps to KES 320 while aggressive buying in Safcom continues (+1.1%, KES 9.55).

Mauritius: Closed for the day

Nigeria: ASI +0.38%, USD 19.2m

The trend of strong performance in Banks and Consumers continued again today. Banks rose by 39bps with Tier 1 names GTB (+2.37%, N25.90) and UBA (+2.81%, N8.04) leading the outperformance while this was partially offset by Access which lost 3.92% to N9.31. The Tier 1 names were extremely active. The Consumer sector rose by 53bps with strength pretty much across the board. The best performers were Cadbury (+1.71%, N56) and Nestle (+2.61%, N1128.76). NB gained 34bps to N175.60 on some really good volumes.

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

South Africa: Top 40 +0.17%, USD1.2bn

The JSE inched slightly higher today. The Rand remains firmly on the back foot though and was trading at R10.16, R16.19 and R13.70 vs the USD, GBP and EUR respectively at the time of writing.

Zimbabwe: Industrials +0.06%, Mining -4.5%, USD 830k

Zimbabwe remains very quiet currently as just $830k changed hands. The Industrials gained a marginal 6bps which is pleasing after a disappointing -4.4% in October. The main gainers for the session were the large caps with Econet gaining 99bps to 61.1c and Delta gaining 73bps to 136c. Aico also rose by 2.4% to 4.2c after its subsidiary Seedco’s shareholders approved a $60m deal which will see French based international seed developer Vilmorin & Cie acquire a 25% stake. In general, foreign interest and general market activity remains light.

African Currencies