Movers & Shakers: November 13, 2012

African Currencies

Botswana: DCI +0.46%, USD 2m

Very active day in Gaborone thanks to a few of the names with value traded amounting to USD 2m as Letshego led from the front in terms of value traded thanks to a cross of 4.5m shares. The market closed in positive territory with the DCI gaining 0.46% to close at 7,540.80. Choppies (201t, +3t) and Primetime (190t, +3t) were the only names that closed higher on the day while ABCH (414t, +-1t) and FNBB (292t, -2t) were the only counters that closed lower.

Egypt: EGX 30 +0.81%, USD 57m

The market ended the day in positive territory on low volumes, the EGX30 ended the day up 0.81% to close at 5,684.25 points. The market continues to trade weak volumes, market traded a total turnover of USD 57m, its worth mentioning that more than 10% of the total turnover was attributed to one Cross in EAST. The market managed to end the day higher lead by notable buying local institutions, a sense of optimism was evident in the market after news rose that the government expects to sign a MoU before IMF team leaves Cairo tomorrow adding to this the near completion to the QNB/NSGB deal. As we expected buying accumulation continues to be seen in ORTE and OTMT, both names accounted for more than 10% of total turnover ending the day each up 1.91% and 3.39% receptively. COMI traded against the general market sentiment , the former witnessed selling pressure to end the day down 0.44% to close at 38.60, this comes after Moody’s lowers s elective ratings of NBE, BM, Banque Du Caire, and COMI on high exposure to Egyptian government securities.

Investor mix:
•  Foreigners were net Buyers by 1.75 mn EGP and were 26.39% of the market.
•  Egyptians were net Buyers by 8.57 mn EGP and were 67.03% of the market.
•  Arabs were net Sellers by 10.33 mn EGP and were 6.58% of the market.
•  Institutions were net Buyers by 18.23 mn EGP and were 35.48% of the market.
•  Retail were net Sellers by 18.23 mn EGP and were 64.51% of the market.

Kenya: NSE 20 +0.11%, USD 8.0m

A buoyant day of activity in Nairobi led by EABL with a number of block trades going through in the name. Most of the block trading in the name went through at KES242 with foreigners dominating the buy side. The banking sector was also rather vibrant with Equity Bank in particular seeing strong 2-way interest, closing up 1.03% at KES24.50 while KNCB closed unchanged at KES30. The other active name on the day was Mumias Sugar which saw the bears win out as the name closed down 4.35% at KES5.50 on good volume. In total, foreign interest was once again heavily skewed to the buy side (70% v 22% on the sell side).

Mauritius: Market closed for a public holiday.

Nigeria: ASI -1.20%, USD 13.91m

November seems to be the month of quiet trading in Nigeria as volumes are dire and selling pressure evident across the board. The banking sector bears continue to win the battle in the sector (BNK10 -1.43%) with Fidelity (+1.46%, N2.09) the only positive in the sector. The worst performers were Firstbank (-3.22%, N15.02), Access (-2.89%, N8.40) and FCMB (-2.74%, N3.20). The consumer names also fell foul to the bears (FBT10 -2.22%) with Nestle (-7.70%, N581) the struggler for the session. NB, 7UP, Dangote Flour and Dangote Sugar all closed in the red. The most notable stock to close in the black was Flourmills which closed up 5% at N66.15.

South Africa: Top 40 -0.20%, USD 1.97bn

The JSE ended the day lower with the Top 40 Index falling 0.20% to close at 33,178 while value traded amounted to USD 1.97bn. Resources were the day's biggest losers with the Index falling 1.19% while Industrials and Financials gained 0.45% and 0.07% respectively. The Rand was trading at 8.78 and 11.14 to the USD and EUR respectively by the time local markets closed.

Zambia: LuSE -1.80%, USD 2.4k

Another extremely quiet day in Lusaka with value traded amounting to a paltry USD 2.4k. The names that traded included CEC, SCZ, ZAIN and ZSUG. CEC was the biggest contributor towards turnover with value traded in the name amounting to USD 2k. SCZ was the second biggest contributor towards turnover with value traded in the name amounting to USD 300.

Zimbabwe: Industrial Index +0.18%, Mining Index unch, USD 337k

ZSE Industrials overcame losses in a number of heavy cap stocks to rebound in Tuesday's session supported by solid buying in beverages giant, Delta. The index recovered 0.18% to 155.94points after top stock Delta rose 0.79% to 96c outweighing losses in Innscor, Old Mutual, OK and TA. Volumes improved from yesterday though trades remain generally light at 4.61m with turnover amounting to a mere $0.337m (failing to reach $1m over the past 9 trading session). Average daily value trades have declined 65% from $1 634 900 recorded in October to $578 814. Foreign participation stood at $0.153m and $0.129m on the buyside and sell side respectively. The Mining Index was stuck at 82.04 points. Hwange and RioZim were unchanged at previous trading levels while Bindura and Falgold recorded no trades