Movers & Shakers: November 21, 2012

African Currencies

Botswana: DCI +0.06%, USD 133k

Slow going in Gaborone today, 7 names traded on the day with the usual suspect, Letshego, dominating the activity, +90% of the R133k. Letshego was the only winner trading +6t higher to close the session at 196t. There were three losers on the day FNBB -1t to 288t, Sechaba -2t to 1561t and Sefalana -1t to 325t.

Egypt: EGX +1.34%, USD 55m

The market managed to gain some its earlier losses to end the day in positive territories lead by notable buying from institutional investors, the EGX30 ended the day up 1.34% to close at 5482.13 points. Market volumes were relatively weak today compared to recent turnover, market traded a total turnover of USD 55m. The market started the day with a notable rally to reach a high of 5527.61 points(more than 2% higher, as we expected the market opened in the green, yet after med-session that the bullish momentum which was fueled by the IMF started to fade, this was mainly attributed to clashes erupting again near Tahrir sq. which left one political activist dead, fears of further escalation are rising, considering the Calls for massive protests across the country this coming Friday. Names such as COMI, ETEL and ESRS lead the market in terms of performance, each ending the day up 2.71%, 2.38%, and 2.31% respectively, it’s worth mentioning that ETEL announced that it is close to obtain an integrated telecom license which will benefit Egyptian telecom sector and the whole economy in general.

Investor mix:
•  Foreigners were net Buyers by 11.69 mn EGP and were 21.56% of the market.
•  Egyptians were net Sellers by 15.56 mn EGP and were 73.19% of the market.
•  Arabs were net Buyers by 3.86 mn EGP and were 5.25% of the market.
•  Institutions were net Buyers by 14.52 mn EGP and were 34.82% of the market.
•  Retail were net Sellers by 14.52 mn EGP and were 65.17% of the market.

Kenya: NSE 20 +0.32%, USD 6.9m

Aother active day in Nairobi with value traded amounting to $6.9m. EABL dominated in terms of value traded as foreigners accounted for 99% of purchases in the name with a total of 507k shares traded. Kenya Commercial Bank was active again today as foreigners continue to buy the stock, accounting for 88% of purchases as a total of 3.7m shares changed hands. Foreigners also dominated purchases (74%) in Equity Bank as a total of 4.6m shares traded. Foreigners were net sellers and accounted for $5.23m of total sales while they accounted for $5.19m of total purchases. The market closed the day higher with the NSE 20 Index gaining 0.32% to close at 4,171.87.

Mauritius: Semdex +0.15%, USD 2.5m

It was a refreshingly active day in Mauritius today with MCB the most active name, almost 50% of val traded, as usual. The Semdex and Sem-7 both added points today +0.15% and +0.17% respectively. The other big bank, SBM, was also very active today and like MCB traded unch, it is worth noting that foreigners were heavy traders in the banks and were net sellers. There was only one px mover from the Sem-7 that changed px and that was Rogers +5.26% to 140.00.

Nigeria: ASI -0.21%, USD 9.63m

It was an incredibly uneventful session in Lagos with not even the $10m level being breached. The market opened stronger and continued on this path until falling strongly and eventually falling not far from the day’s low at -0.21%. The banks were the biggest underperformers bnk10 -0.74% with Zenith and UBA the hardest hit from the top-tier names -2.29% and -1.3% respectively. Some of the consumer plays also took a heavy knock, UACN -5.77%, Flourmills -2.54%, PZ -0.36% and Unilever -0.98% respectively. The two big brewers experienced mixed fortunes Guinness -5.00% while NB managed to gain +2.97%.

South Africa: Top 40 +0.53%, USD 1.19bn

The JSE ended the day higher with the Top 40 Index gaining 0.53% to close at 33,274 while value traded amounted to USD 1.19bn. Industrials were the day's biggest gainers with the Index gaining 0.75% followed by FInancials and Resources which gained 0.31% and 0.29% respectively. The Rand was trading at 8.97 and 11.50 to the USD and EUR respectively by the time local markets closed.

Zambia: LuSE +0.20%, USD 319k

Activity continues to surprise with value traded amounting to USD 319k thanks to crosses in ZMBF and LAFA. The names that traded included ZMBF, LAFA, REIZ, ZMBF and ZNCO. ZMBF was the biggest contributor towards turnover with value traded in the name amounting to USD 207k. LAFA was the second biggest contributor towards turnover with value traded in the name amounting to USD 109k.

Zimbabwe: Industrial Index -0.03%, Mining Index -1.94%, USD 3.76m

The industrial index lost a marginal 0.03% to close at 153.36 points as gains in Econet and OK mitigated a bearish session. Seedco dropped a further 4.26% to 90c in the wake of disappointing interims released on Monday. Barclays lost 3.47% to a 52-week low of 2.5c and is now 41% in the negative since January. DZL eased 4.76% to 20c. Telecoms giant, Econet recorded strong gains rising 5c or 1.04% to 486c. Retail group, OK rose 2.71% to 14.02c ahead of its interims and analyst briefing this afternoon. Delta, Innscor and AICO were steady at 95c, 71c, and 12 respectively. Back to back foreign participation in blue chips Delta and Econet drove turnover to $3.76m with foreign participation accounting for 84% of the trades. Foreign inflows amounted to $3.14m while sales were $3m up from $ 0.023m. Overall volumes were however down 63% to 6.29m. The mining index pared 1.94% on losses in Bindura and Rio despite gain in Hwange. RIOZIM lost 7.39% to 50.01c and Bindura eased 2.8% to 1.75c while HWANGE rose 3% to close at 17.51 cents.