Movers & Shakers: November 20, 2012

African Currencies

Botswana: DCI +0.21%, USD 1m

It was an active session in the capital Gaborone today with just over a million dollars’ worth trading in the session. Market heavyweight FNBB was the most active name followed by Turnstar, BIHL and Sefalana – in that order. There were 7 movers, 2 gainers and 5 losers. Letshego added +5t to 190t, Sefalana added +1t to 326t while Barclays fell -5t to 655t, Cresta lost -1t to 83t, FNBB slipped -2t to 289t, G4S gave-up -1t to 585t and RDCB eased -1t to 694t.

Egypt: EGX -0.07%, USD 63m

The market ended the day slightly lower after trading more than 1.50% lower, the EGX30 ended the day down 0.07% to close at 5409.89 points. Market traded average volumes relative to recent turnovers, market traded a total turnover of USD 63m.The market started the day with notable selling lead by local retail investors selling to reach a low of 5297.37 points this was came after clashes erupted between security forces and protesters yesterday, as they were dispersing yesterday's memorial demonstration, raising fears towards further escalation. Yet 90 min before session end the market witnessed a strong rally lead by notable buying from institutional investors mainly from GCC and international institutions, this is mainly attributed to news that the IMF reached a “Staff level” agreement with Egypt on the loan, the IMF board is expected review the agreement in December, it’s worth mentioning this is a major step to a long awaited catalyst for the market.

Investor mix:
•  Foreigners were net Buyers by 9.43 mn EGP and were 19.57% of the market.
•  Egyptians were net Sellers by 25.74 mn EGP and were 74.66% of the market.
•  Arabs were net Buyers by 16.31 mn EGP and were 5.77% of the market.
•  Institutions were net Buyers by 17.18 mn EGP and were 31.16% of the market.
•  Retail were net Sellers by 17.18 mn EGP and were 68.83% of the market.

Kenya: NSE 20 +0.25%, USD 5.95m

Fairly active day in Nairobi today with value traded amounting to $5.95m. Safcom was extremely active yet again with foreigners accounting for 99% of purchases as 33.65m shares traded in the name. Foreigners accounted for the bulk (69%) of purchases in Kenya Commercial Bank as a total of 3.03m shares traded thanks to a few decent crosses. Equity Bank was also rather active as foreigners accounted for 98% of purchases with 3.09m shares changing hands. Foreigners were net buyers and accounted for $4.59m of total purchases while they accounted for $1.56m of total sales. The market closed the day higher with the NSE 20 Index gaining 0.25% to close at 4,158.38.

Mauritius: Semdex +0.05%, USD 1.2m

The Semdex added +5bps while the big 7 did better gaining +19bps. The mkt was subdued with the usual name MCB dominating the activity chart. Only two names from the Sem-7 changed px, both making gains. Terra added +1.33% and Rogers gained +2.31%.

Nigeria: ASI +0.35%, USD 15.56m

The market opened stronger today, +20bps and traded around this level for most of the session before rallying in the latter part of the session to close at +0.35%. The big banks were all marginally higher barring UBA which took a -3.4% hit. FBN was the outperformer at +1.85%. The bnk10 closed +0.35% better off. There were some strong advances made by consumer names, Flourmill +4.66%, UACN +7.45%, Unilever +0.99% and Cadbury +1.83%. 22 stocks advanced, 27 declined and 48 remained unchanged. The highest value of trades were in Access, Zenith, FBN, Flourmill and UBA.

South Africa: Top 40 +0.24%, USD 1.19bn

The JSE ended the day higher with the Top 40 Index gaining 0.24% to close at 33,098 while value traded amounted to USD 1.19bn. Industrials were the day's biggest gainers with the Index gaining 0.70% followed by Resources which gained 0.24% while Financials fell 0.56%. The Rand was trading at 8.87 and 11.35 to the USD and EUR respectively by the time local markets closed.

Zambia: LuSE +1.88%, USD 302k

Another decent day in Lusaka thanks to a large cross in ZAIN with value traded amounting to USD 302k. The names that traded included CEC, ZAIN, ZMBF, ZAMEFA and ZNCO. ZAIN was the biggest contributor towards turnover with value traded in the name amounting to USD 291k. ZMBF was the second biggest contributor towards turnover with value traed in the name amounting to USD 5k.

Zimbabwe: Industrial Index -0.49%, Mining Index -2.45%, USD 760k

The industrial index closed Tuesday trades in the negative, the fifth consecutive loss as investors express concern over pessimistic economic outlook following the second downward revision in growth statistics. The index eased a further 0.49% to 153.40points narrowing its YTD gain to 5.17% amid widespread losses in heavy cap stocks. Seed manufacturer, Seedco dropped 2.08% as investors meted instant justice to the price after the group reported a 56% drop in revenue coupled with a wider interim loss of $8.9m (2011:-$1.4m). Management attributed the sharp decline in turnover to weak demand for winter cereals and the delay in government funded input programs while they expect the second half volumes to more than compensate for the lost volumes. Innscor eased 0.67% to 71c and is now 12.3% down from its all-time high of 81c achieved on 22 October. Value traded declined 72% to $0.76m despite an improvement in volumes to 17.11m shares. Foreign participation dropped 69% to $0.461m on the purchases side while sales declined 98% to paltry $0.023m. The mining index sank deeper into losses easing 2.45% to 71.02point after Bindura lost 10% to 1.8c. FALGOLD and RIOZIM (were unchanged at previous trading levels while Hwange was bid at 17c. The resources sector has now lost cumulative 29.47% since January.