Movers & Shakers: November 14, 2012

African Currencies

Botswana: DCI -0.04%, USD 170k

It was the most active session, in terms of number of names traded - 17/23, that we have experienced in ages. Bihl was the most active name, followed by Letshego. There were 4 winners and 6 losers. Letshego added +1t to finish at 186t, Bihl gained +5t to close at 1040t, Chobe advanced +10t to close at 260t while ABCH lost -4t to close at 410t and Barclays fell -5t to close 655t.

Egypt: EGX 30 -0.38%, USD 60m

The market ended the day in negative territories lead by notable selling from international investors, the EGX30 to end the day down 0.38% to close at 5662.39 points. points. Market traded weak volumes compared to recent market turnovers, market traded a total turnover of USD 60m. Volatility continued throughout the day today in Egyptian blue-chips, the market opened to trade on a slightly lower, yet after an of trading the market rebounded to reach a high of 5707.56 points lead by notable buying from local institutions. By med session the market could not hold its grounds and traded in the reds to reach a low of 5662.21 points. ESRS managed to lead the market in terms of performance, the former ended the day up 2.56% to close at 9.61, its worth mentioning an article in Al-Masry Al-Yom newspaper today stated that the government has started implementing a settlement plan with the steel producers whose licenses were withdrawn as per the court ruling in September 2011.The news is not surprising, as it is already known that steel producers, including Ezzsteel and Beshay Steel, have been in negotiations with the government over this settlement for months now.

Investor mix:
•  Foreigners were net Sellers by 17.19 mn EGP and were 33.10% of the market.
•  Egyptians were net Buyers by 2.14 mn EGP and were 62.46% of the market.
•  Arabs were net Sellers by 19.33 mn EGP and were 4.44% of the market.
•  Institutions were net Sellers by 14.52 mn EGP and were 41.80% of the market.
•  Retail were net Buyers by 14.52 mn EGP and were 58.19% of the market.

Kenya: NSE 20 +0.02%, USD 4.12m

Activity slowed down in Nairobi today with value traded amounting to $4.12m. Locals dominated activity in Safcom as a total of 12.28m shares changed hands in the name. Foreigners accounted for bascially all of the purchases in EABL (98%) with 230k shares traded over the day. Uchumi was surprisingly active with locals dominating trade in the counter as a total of 2.06m shares traded. Foreigners were net buyers and accounted for $2.17m of total purchases while they accounted for $680k of total sales. The market closed the day slightly higher with the NSE 20 Index gaining 0.02% to close at 4,157.59.

Mauritius: Semdex -0.26%, USD 2.27m

Both the Semdex and the Sem-7 slid today -0.26% and -0.23% respectively. The market report has the typical look to it, almost half the activity was accounted for by MCB as the banking giant released interim numbers which saw PAT increase 6% – the name traded unch at 162.00. SBM also released interim results today which saw PAT increase 28% and was the next most active name from the Sem-7, also trading unch at 81.00. ENL Land was the lone price mover from the Sem-7, the name fell -2.38% to close at 41.00. Phoenix beverages saw a big cross go through at an unchanged price of 201.00, accounting for 30% of the day’s activity.

Nigeria: ASI +0.21%, USD 14.95m

The Nigerian market opened strongly before pulling back somewhat to close the session +0.21% better off. The value traded remains low with no catalyst in sight that suggests there will be any change in the short-term – less than $15m worth traded. It was a mixed session. The big banks didn’t move much barring Access which managed to gain +1.9%. From the consumer names the price fluctuations were more pronounced with Flourmills taking a -3.55% cut while Cadbury, DangS and Nestle leapt +4.17%, +3.7% and +1.55% respectively. Oil company Oando lost favour and gave away -5% as a result. 18 stocks advanced, 22 declined and 64 remained unchanged. The highest value of trades were in FBN, GTB, Zenith, Nestle and Access.

South Africa: Top 40 -0.41%, USD 1.61bn

The JSE ended the day lower with the Top 40 Index falling 0.41% to close at 33,042 while value traded amounted to USD 1.61bn. Resources were the day's biggest losers with the Index falling 0.61% followed by Industrials which fell 0.53% while Financials gained 0.10%. The Rand was trading at 8.86 and 11.30 to the USD and EUR respectively by the time local markets closed.

Zambia: LuSE +0.26%, USD 18.7k

Not much went on in Zambia today with value traded amounting to USD 18.7k. The names that traded included AELZ, CEC, ZMBF and ZNCO. ZNCO was the biggest contributor towards turnover with value traded in the name amounting to USD 18k. CEC was the second biggest contributor towards turnover with value traded in the name amounting to USD 200.

Zimbabwe: Industrial Index -0.16%, Mining Index unch, USD 1.8m

ZSE shares reversed yesterday’s gains as stocks failed to find firm footing in the wake of weak economic data. The much awaited 2013 national budget due tomorrow is however not expected to bring any major surprises as challenges bedeviling the economy are there for all to see. The mainstream index pared 0.16% to 155.69 points weighed down by losses in Innscor, PPC, Barclays Afdis and Fidelity. Trading activity improved spurred by back to back foreign participation in Delta which accounted for 80% of value traded. Value traded breached the $1m mark for the first time in November at $1.8m as volumes rose 64% to 7.58m shares. Foreign participation accounted for 82% of both sales and purchases the bulk of which was invested in Delta. Innscor buckled under selling pressure easing 0.70% to 72.50c. The mining index was steady at 82.04 points. Coal miner Hwange was the only stock to record a trade and was steady at 19c.