Movers & Shakers: November 22, 2012

African Currencies

Botswana +0.02%, USD 98k

A quiet day in terms of total value traded although the majority of the listed names in Bots traded today. Letshego was the most active followed by Primetime. Letshego added +5t to close at 201t while FNBB fell -4t to 284t and Stanchart fell -3t to close at 1000t.

Egypt: EGX 30 -0.78%, USD 42m

With all the positive news on the Geopolitical side as tension eases off after Gaza cease-fire deal was reached last night and establishing Egypt as an arbiter, after president Morsi won the trust of U.S and Israel, the market could not hold it grounds to end the day in negative territories leaving the EGX30 to end the day down 0.78% to close at 5,439.29 points. The market traded notably weak volumes compared to recent turnovers, market traded a total turnover of USD 42m. International investors continue to be net buyer in the market along with GCC institutions, yet retail investors continue to pressure the market to end the day as net sellers, this attributed to clashes continues to erupt between protesters and security forces and ongoing calls for massive protests tomorrow. It’s worth mentioning that CCAP traded against the general market sentiment , this comes after the company announced that they are signing of a JV with QInvest for gas distribution, the former ended the day up 1.63%.

Investor mix:
•  Foreigners were net Buyers by 18.32mn EGP and were 21.56% of the market.
•  Egyptians were net Sellers by 1.13 mn EGP and were 73.19% of the market.
•  Arabs were net Buyers by 19.45 mn EGP and were 5.25% of the market.
•  Institutions were net Buyers by 17.72 mn EGP and were 20.90% of the market.
•  Retail were net Sellers by 17.72 mn EGP and were 79.09% of the market.

Kenya: NSE 20 -0.22%, USD 6.4m

A relatively active day in Kenya with the blue chip names once again driving activity in Nairobi while the index shed 22bps for the session. The banks saw the majority of the days action, with Equity Bank closing down 3.09% at KES 23.50 and KNCB closed unchanged at KES 30.00 while National Bank fell by 2.74% after poor 2012 Q3 results. Safcom continues to find bullish sentiment and the name closed up 2.06% at KES 4.95. EABL closed down 41bps at KES 241.

Mauritius Semdex +0.16%, USD 320k

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 -0.13%, USD 8.69m

With the US Thanksgiving holiday today, the recently quiet Nigerian market continues to drip along at a painstakingly slow rate. The ASI ticked down by 13bps with the Banking sector -44bps for the day. The most active name on the day was Guinness which saw some crossing action take place, the name closing down 3.45% at N231. In the same sector, NB was also relatively well participated in with the name closing unchanged at N137. Among the banks we saw mixed performance, the biggest loser being Zenith Bank (-1.66%, N17.20) while the top performer was Access Bank (+93bps, N8.71). Delisting of Stanbic IBTC Bank Plc and Listing of Stanbic IBTC Holdings Plc will hold tomorrow

South Africa: Top 40 +1.09%, USD 1.42bn

The JSE ended the day higher with the Top 40 Index gaining +1.09% to close at 37,904 while value traded amounted to USD 1.42bn. Golds were the day's biggest gainers with the Index gaining 2.05% followed by the Resources and industrials which gained +1.37% and +1.28%. The Rand was trading at 8.93 and 11.50 to the USD and EUR respectively by the time local markets closed.

Zambia: LuSE +0.03%, USD 14k

Very dull day in Lusaka with value traded amounting to USD 14k. The names that traded included BAT, CEC, ZAIN, and ZSUG. ZAIN was the biggest contributor towards turnover with value traded in the name amounting to USD 10k. ZSUG was the second biggest contributor towards turnover with value traded in the name amounting to USD 1.9k.

Zimbabwe Industrial, Mining +0.58%, USD 1.3m

The Industrial index recovered in today’s trades boosted by gains in banking stocks CBZ and Barclays and milk processor DZL overcoming losses in fast foods giant Innscor. CBZ rose 1.69% to 12c while Barclays rose 4% to 2.6c on sizeable volumes of 1.8m and 6m share respectively. Retail giant, OK, which has been on fine run over the past week ahead of its results, rose +0.14% to 14.03c post release of interim results. The group reported double digit growth figures from top-line to bottom line as it benefits from refurbishments and “dying” competition. Innscor plummeted -1.41% to trade at 70c after reports that the CEO, Tom Brown has resigned from the group. Innscor to make the announcement at the AGM scheduled for tomorrow. Value traded was 66% lower at $1.3c weighed by lower foreign participation which dropped 85%. Volumes were however up 90% to 11.94m shares buoyed by lowly priced Barclays (6m) and CBZ (1.8m). Foreign participation was $0.479m and 0.473m on buy side and sell side respectively. The mining index cheered +0.58% to 66.27pts buoyed by gains in RIO as the counter rose +1.98% to 51c. The other counters did not record trades in Thursday’s session. Bindura bid lower at 1.2c and Hwange offered higher at 18c were the only changes on the board.