Movers & Shakers: November 05, 2012

African Currencies

Botswana: DCI +0.18%, USD 113k

It was back to the old norm, where any ‘active day’ is heavily weighted to a specific name and more often than not Letshego. The name accounted for 95% of the activity, trading flat at 169.00. 6 names traded on the day with 1 change of price, Barclays closing at 660t, -13t.

Egypt: EGX 30 +0.38%, USD 80m

The market ended the day in positive territories lead by notable institutional buying, the EGX30 ended the day up 0.38% to close at 5470.31 points. Market traded average volumes compared to recent volumes, market traded a total turnover of USD 80M. Volatility continued throughout the day today in Egyptian blue-chips as local retail investors along with GCC retail investors continue to decrease their exposure the market, yet local international and GCC institutional investors continue to be net buyers at these levels. OCIC witnessed notable volatility today, the former witnessed notable selling pressure to reach a low of 247.11 at session start, yet after med-session the name witnessed notable buying to reach a high of 262(+5.52%) this is mainly attributed to market chatter regarding a possible settlement with the government on the tax issue, a local newspaper(not a very popular one) mentioned that OCIC is negotiating a EGP2bil settlement, many investors reg arded this as positive news as the initial fine was EGP14bil.

Investor mix:
•  Foreigners were net Buyers by 16.28 mn EGP and were 17.75% of the market.
•  Egyptians were net Sellers by 24.64 mn EGP and were 73.45% of the market.
•  Arabs were net Buyers by 8.35 mn EGP and were 8.8% of the market.
•  Institutions were net Buyers by 42.45 mn EGP and were 31.84% of the market.
•  Retail were net Sellers by 42.45 mn EGP and were 68.15% of the market.

Kenya: NSE20 -0.03%, USD 3.69m

Relatively quiet start to the week with value traded amounting to $3.69m. Bamburi Cement lead from the front in terms of value traded with a total of 450k shares traded in the name thanks to a large cross as foreigners accounted for 99% of sales. Kenya Commercial Bank was relatively active as a total of 1.72m shares traded with foreigners accounting for 62% of purchases. Foreigners dominated purchases in Equity Bank (67%) as a total of 1.33m shares traded. Foreigners were net sellers and accounted for $1.35m of total sales while they accounted for $1.19m of total purchases. The market closed the day lower with the NSE 20 Index falling 0.03% to close at 4,124.53.

Mauritius: Semdex +0.21%, USD 1.45m

The mkt closed +20bps higher with average val traded of $1.45m. It was a typical session in Mauritius with MCB the top trader followed by NMH. The banks were mixed, MCB traded +0.62% higher at 162.00, SBM ambled along sideways ta 79.54 while Bramer Banking Corporation lost -1.27% to finish at 7.8. Rogers lost -0.65% while the other mover from the Sem-7, ENL Land, added +0.25%.

Nigeria: ASI +0.16%, USD 9.16m

Another incredibly dull day in Nigeria with virtually nothing noteworthy to report on. The banking sector (BNK10) was down 75bps with all names closing down, the main laggards being FCMB (-2.65%, N3.30) and Firstbank (-1.70%, N15.60) while the only banks to close in the black were Fidelity (+93bps, N2.16), IBTCCB (+68bps, N7.35) and GTB (+5bps, N20.15). The consumer names fared somewhat better though, with NB (+3.07%, N132.50) and PZ Cussons (+3.85%, N27) leading the charge.

South Africa: Top 40 -0.23%, USD 1.085bn

The JSE ended the day lower with the Top 40 Index losing -0.26% to close at 37,579 while value traded amounted to USD 1.085bn. Financials were the day's biggest gainers with the Index gaining 0.31% followed by the Banks and Industrials gained 0.27% and 0.06% respectively. The Rand was trading at 8.73 and 11.13 to the USD and EUR respectively by the time local markets closed.

Zambia: LuSE -0.01%, USD 6k

Dire day in Lusaka with value traded amounting to a paltry USD 6k. The names that traded included CEC, LAFA, REIZ, SCZ, ZMBF and ZANACO. SCZ was the biggest contributor towards turnover with value traded in the name amounting to USD 2.5k. ZANACO was the second biggest contributor towards turnover with value traded in the name amounting to USD 2.4k.

Zimbabwe: Industrial Index -0.10%, Mining Index +0.71%, USD 910k

The industrial index opened the week marginally lower easing 0.10% to 155.25 points weighed down by losses in Larfage and Mash despite gains in TSL, Fidelity, Barclays and Delta. Trading activity was sluggish with volumes declining 20% to 3.67m shares; seven stocks recorded price changes of which 2 were losers while five were risers. Value traded however rose 52% to $0.91m supported by Delta which accounted for 53% of trades. Foreign purchases rose 83% though it remains low at $0.234m while sales stood at $0.321m. The RBZ is set to auction $30 mln in 91-day Treasury Bills this Tuesday after $9.85 million was raised last week. Trading in the positive was Delta which added a marginal 0.08% to 93.2c ahead of its interims this Wednesday. Innscor, CBZ and Econet traded unchanged at 74.2c, 12c and 480c respectively. Turnal was firm buyers at 5c amid reports that there is consortium of local and foreign investors interested in acquiring a 49% stake in the group. T he mining index gained 0.71% to close at 86.98 points after coal miner Hwange recovered 2.86% to 18ccents. BINDURA remained unchanged at 2.7c while Falgold and Rio were recorded no trades and were bid lower at 12c and 60c respectively.