Movers & Shakers: November 12, 2012

African Currencies

Botswana: DCI +0.07%, USD 121k

There were only 5 names that traded in the mkt today with Choppies accounting for 96% of the activity. Choppies was also the only names to change px, +2t to close at 198t.

Egypt: EGX 30 +0.51%, USD 51m

he market managed to end the day in positive territories lead by notable international investors buying, the EGX30 ended the day up 0.51% to close at 5638.71 points. Market volumes continue to be weak, market traded at total turnover of USD 51m. The market started the day with a negative sentiment to reach a low of 5580.71 points, yet after 90min of trading a wave of buying interest was quite evident across the board with most stocks rebounding from their lows and trading in the green, boosted by market chatter and the peace of news that QNBK completed the due diligence on the acquisition of a 77.2% stake valued for USD2.8bln in NSGB, its worth mentioning that the rumor denied by the bank in a statement to the EGX. Names such as JUFO and ESRS traded against the market sentiment, each ending down 1.44% and 1.19% respectvivly.

Investor mix:
•  Foreigners were net Buyers by 21.27 mn EGP and were 14.92% of the market.
•  Egyptians were net Sellers by 14.63 mn EGP and were 78.33% of the market.
•  Arabs were net Sellers by 6.64 mn EGP and were 6.75% of the market.
•  Institutions were net Sellers by 4.96 mn EGP and were 25.35% of the market.
•  Retail were net Buyers by 4.96 mn EGP and were 74.64% of the market.

Kenya: NSE 20 -0.18%, USD 3.69m

Quiet day in Nairobi to start the week with turnover of just $3.69mill while the NSE 20 dropped by 18bps to close at 4,152.11. The most active name was Safcom with more than 21mill shares changing hands while the name closed unchanged at KES4.80. The banking sector was very subdued – KNCB traded 649k shares and closed unchanged at KES30.00 while Equity Bank traded a paltry 78k shares and also closed unchanged at KES24.25. In total, foreign investors were 65% of the buys while just 33% of the sells.

Mauritius: Semdex -0.33%, USD 1.28m

The mkt lacked conviction today and as such traded sideways, Semdex +0.02% and the Sem-7 -0.01%. MCB was the most active stock, accounting for 2/3 of all the activity. There were three names that changed price from the Sem-7, SMB closed +1.25% while Terra and Rogers were the two losers down -1.3% and -5.41%. There is a public holiday in Maurotius tomorrow and as such the mkt will be closed.

Nigeria: ASI -0.42%, USD 10.21m

Yet another unbelievably dull day in Nigeria as investors happy to sit on the sidelines and observe proceedings. The banking sector struggled (BNK10 -78bps) with only Zenith, FCMB and Skye Bank closing in the black while the other banking names all closed in the red. The biggest loser was UBA which fell by 4.61% to close at N4.76. The most active name on the day was NB which saw some large crosses going through. NB closed up 1.26% at N137.00. This was about the only notable volume that traded in the market today.

Zambia: LuSE +0.05%, USD 9k

Very slow start to the week with value traded amounting to USD 9k. The names that traded includded CEC, PUMA, ZMBF, ZAMEFA and ZNCO. CEC was the biggest contributor towards turnover with value traded in the name amounting to USD 7k. ZAMEFA was the second biggest contributor towards turnover with value traded in the name amounting to USD 1k.

Zimbabwe: Industrial Index -0.04%%, Mining Index +1.51%, USD 258k

ZSE shares opened the week sluggish as investors especially sellers take a wait and see attitude ahead of the National Budget Presentation this Thursday. The mainstream industrial index lost a marginal -0.04% or 0.07pts to 155.66pts in a light session that saw volumes plummet 79% to 1.02m shares with daily turnover declining 43% to $0.258m. Appetite for from both locals and foreigners remain strong in heavy caps, Delta, Seedco, Hippo, Econet, DZL and OK while supply seems scarce despite the general recovery in the market over the past three months. Heavy caps Delta, Econet, Innscor and Seedco were steady at previous levels. Mitigating the loses were gains in regional banking group ABCH up 3% to 58c, AFDIS and DZLH advanced 1% apiece to 20c and 22c respectively while M&R rose 12.50% to 2.7c. The mining index was up 1.51% to close at 82.04 points spurred by Hwange which rose 5.56% to 19c. BINDURA, FALGOLD and RIOZIM recorded n o trades.