Movers & Shakers: November 07, 2013

Botswana: DCI +0.06, USD 466k

2 of the more illiquid stocks on the Botswana bourse accounted for almost the entire trading today. These stocks were FNBB (385t) and Turnstar (170t).

Egypt: EGX +0.71%, USD 109m

The market managed to continue inching higher today leaving the EGX30 index to close at 6,415.82 up 0.71%. Above average volumes were witnessed on a total turnover of EGP755mn. Locals mainly institutions continued their buying spree and ended the day as the sole net buyers, targeting big-caps such as COMI, ESRS and HRHO.Foreigners turned net sellers accounting for approx 14.5% of market participation.

Kenya: NSE 20 +0.55%, USD 6.6m

Activity dropped off a bit today as value traded amounted to $6.6m with Safcom (41%) once again dominating the day's proceedings as foreign investors got stuck into the name. The telco continued to rally post H1 2014 results, gaining 1.5% to close at KES 9.85. There was a large cross of 2.2m shares in Kenya Commercial Bank as profit taking continued in the counter as the bank fell -1.6% to close at KES 47.50 on the back of local selling. Kenya Airways was amongst the top movers today buoyed by foreign investor demand. The Airline extended it's gains, climbing a further 9.3% to close at KES 12.35.

Mauritius: Semdex +0.22%, USD 1.59m

A couple of cross in NMH about the only real excitement today in Port Louis. The name closed unchanged at Rs90.50. The Sem-7 rose by 40bps led higher by MCB (+99bps, Rs204), Alteo (+14bps, Rs36.35) and Terra (+24bps, Rs41).

Nigeria: ASI unch, USD 35.3m

Another very active day in Lagos as some good two-way being seen from both local and foreign participants. The banks fell by about 25bps although most names ended the day pretty much where they started. We saw chunky crossing in Guaranty (+54bps, N26.15), Zenith (-1.06%, N21.45), Access (+76bps, N9.27) and Stanbic (+52bps, N19.50). The consumers continue to rally with strong demand as the sector closed up 1.14% with strength across the board, in particular Dangflour (+4.95%, N10.18), NB (+1.66%, N177.90) and Guinness (+1.46%, N243.50). Nestle saw some really chunky trade activity and closed the day up 1.2% at N1225.00.

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

South Africa: Top 40 -0.29%, USD 1.34bn

The JSE ended the day lower with the Top 40 Index falling 0.29% to close at 41,246 while value traded amounted to USD 1.34bn. Industrials were the day's biggest losers with the Index falling 0.55% followed by Financials which fell 0.37% while Resources gained 0.24%. The Rand was trading at 10.27 and 13.74 to the USD and EUR respectively by the time local markets closed.

Zimbabwe: Industrials +0.56%, Mining unch, USD 2.36m

The ZSE mainstream index continued seesawing in Thursday’s trades recovering 0.56% to 210.86pts. The 3 most capitalized stocks on the ZSE namely Delta, Innscor and Econet were behind the resurgence adding 1.1%, 0.12% and 1.61% respectively to 137.51c, 83.1c and 63c. Bids in Econet were firmer at 62.9c with volumes of circa 2m shares exchanging hands. The Minings cluster was quiet recording neither trades nor firmer bids resulting in an unchanged index level of 51.24pts. Value of trades was up 125% to $2.36m. Meanwhile the ministry of finance has hinted on the possible delay in presentation of the 2014 national budget as the government seeks to extend its begging bowl to the East amid waning revenues. The world bank in its latest report projects Zimbabwe’s economy to grow by 3% in 2014 which is lower than the government’s projected growth of 6% for 2014 as envisaged in the ZimASSET policy paper.

African Currencies