Movers & Shakers: November 06, 2012

African Currencies

Botswana: DCI +0.04%, USD 2.5m

It was an extremely active session in Botswana, both in terms of value traded and number of counters that traded. The mkt made a small game of +4bps and traded $2.5nm worth. FNBB, Letshego, Barclays and BIHL were the most active names in that order. 15/22 counters traded. There were only 2 px movers, Furnmart and G4S, both moving into the black +1t each to close at 168t and 586t respectively.

Egypt: EGX 30 +1.78%, USD 57m

The market witnessed a rally today lead by notable international institutional investors buying, leaving the EGX30 to end the day up 1.78% to close at 5,567.55 points. The market traded low volumes compared to recent market turnover, market traded a total turnover of USD 57m. As expected the market managed to rebound and regain earlier losses today on low volumes, this was triggered by OCIC's market chatter of an EGP2bln settlement with the tax authority, in-addition NIR gaining USD0.5 bln to reach 15.5bln exactly in line with our expectations. The banking sector witnessed notable activity today, as many investors started off loading NSGB, and veering towards COMI. Names such as JUFO and ETEL lead the market in terms of performance, both names witnessed notable buying lead by international and local institutions to end the day up 5.91% and 3.20% respectively.

Investor mix:
•  Foreigners were net Buyers by 49.35 mn EGP and were 21.25% of the market.
•  Egyptians were net Sellers by 30.38 mn EGP and were 71.70% of the market.
•  Arabs were net Sellers by 18.97 mn EGP and were 7.04% of the market.
•  Institutions were net Buyers by 29.02 mn EGP and were 31.95% of the market.
•  Retail were net Sellers by 29.02 mn EGP and were 68.04% of the market.

Kenya: NSE20 -0.01%, USD 3.68m

It was a rather slow day in Nairaobi today with value traded amounting to $3.68m. Equity Bank was rather active after reporting 3Q2012 numbers today which saw PAT increase 14%. The name was the biggest contributor towards value traded as a total of 2.80m shares traded with foreigners accounting for 96% of purchases and 75% of sales. Foreigners dominated purchases (99%) in EABL as a total of 230k shares traded thanks to a cross. Kenya Commercial Bank was also relatively active as 1.56m shares traded with foreigners accounting for 88% of purchases. Kenya Airways reported H1 results which saw a net loss of KES 4.8bn. Foreigners were net buyers and accounted for $2.21m of total purchases while they accounted for $750k of total sales. The market closed the day slightly lower with the NSE 20 Index falling 0.01% to close at 4,113.96.

Mauritius: Semdex -0.05%, USD 1.05m

It was a quiet session in Mauritius with the market barely breaching the $1m mark and giving back -5bps of yesterday’s gains although the Sem-7 added +0.06% thanks to a +0.6% gain by the bank SBM. SBM was the only name to advance in the session while three counters fell, Terra -0.26%, Rogers -0.65% and Bramer -0.64%. The usual name, MCB, accounted for over 50% of the activity – trading flat, Lux Island Resorts and SBM were the other notable contributors.

Nigeria: ASI +0.48%, USD 17.27m

Market activity picked up somewhat today but still remains subdued, below $20m. The market managed to advance almost half a percent. The top-tier banks were mixed but skewed to the black, Bank10 +1.27%. FBN and UBA were the outperformers +5.13% and +5.88% respectively. The two noticeable losers were ACCESS and ETI which lost -2.25% and -5.34% respectively. There was not much in terms of price movement to report on outside the big banks. Cadbury eased -4.63% while UACN added +264bps. 18 stocks advanced, 28 declined and 49 remained unchanged. The highest value of trades were in Zenith, GTB, Nestle, ETI and FBN.

South Africa: Top 40 +0.02%, USD 1.22bn

The JSE ended the day slightly higher with the Top 40 Index gaining 0.02% to close at 33,432 while value traded amounted to USD 1.22bn. Financials were the day's biggest gainers with the Index gaining 0.83% followed by Industrials which gained 0.06% while Resources fell 0.45%. The Rand was trading at 8.67 and 11.09 to the USD and EUR respectively by the time local markets closed.

Zambia: LuSE -1.41%, USD 45k

Activity picked up today but was still rather dissapointing with value traded amounting to USD 45k. The names that traded included BAT, CEC, ZAIN, ZMBF and ZSUG. ZAIN was the biggest contributor towards turnover with value traded in the name amounting to USD 41k. BAT was the second biggest contributor towards turnover with value traded in the name amounting to USD 3k.

Zimbabwe: Industrial Index -0.01%, Mining Index -3.6%, USD 672k

Equities traded softer in Tuesday trades as the Finance Minister expresses concern over the lack of uptake of RBZ short term paper (Ultimatum for banks). The Treasury is set to issue $30m of 91-day paper through the RBZ today. The industrial index dropped -0.0.1% to 155.24pts as only three counters rose against four that sagged. Fast food giant, Innscor was the only blue chip to earn a spot amongst the losers having shed -0.27% to trade at 74c. Econet, CBZ and Old Mutual closed unchanged at previous levels. Delta gained marginally +0.01% to 93.21c. Turnover slump -26.37% to $672,422 despite a growth in overall volumes to 11.44m shares. Light weight stocks Mash (8.2m shares) and Pearl (1.6m shares) accounted for the bulk of trades with volumes in heavy caps stocks remaining thin. Delta remained the market’s favorite accounting for 1% ($206 946) of the value traded today ahead of interims due tomorrow. Foreign purchase rose 33% to $0.311m while sales dropped 37% to $0.204m. The mining Index closed the day -3.6% lower at 83.78pts dragged down by Rio that closed lower by -5.97% at 63c having lost 4 c. The other resource stocks recoded no trades as Bindura was bid lower at 2c, Falgold offer decreasing for 18 to 16c.