Movers & Shakers: November 25, 2013

A dull day in Gaborone as nothing much happened. The most active names were Choppies (313t), FSG (220t) and Letshego (230t).

A dull day in Gaborone as nothing much happened. The most active names were Choppies (313t), FSG (220t) and Letshego (230t).

Egypt: EGX 30 -1.24%, USD 76m

The market witnessed notable profit booking today causing the EGX30 to end the day down 1.24% to close at 6,356.47 points. Market volumes remained strong yet slightly lower than recent turnovers, with the market traded a total turnover USD 76m. Profit booking was evident today mainly lead by institutional investors (local, international, and GCC) targeting names such ESRS, HRHO, and AMER, ending the day down 2.70%, 2.75%, and 2.99% respectively, the real estate sector also witnessed a selloff with names such as OCDI (-3.49%), TMGH (-2.89%) and PHDC (-2.62%) witnessing selling pressure. COMI was one of the few names that ended the day in the greens, mainly attributed to the announcement dates of its EGP3.0 billion capital increase to EGP9.0 billion, carried out through a 1:2 stock dividend. The stock ended the day up 0.67% on above-average volumes.

Kenya: NSE 20 +0.28%, USD 7.7m

It was another solid start to the week in Nairobi from an activity point of view as value traded amounted to $7.7m. Safcom continues to scale new highs as the telco managed to gain 1.9% to close at KES 10.95. Foreign sellers have however begun to emerge as they accounted for 72.2% of total sales today. Local investors (100%) drove activity in CFC Stanbic as a total of 1.72m shares traded with the name gaining 1.2%. Foreign demand (74.3%) drove activity in Kenya Commercial Bank as the counter closed unchanged at KES 49.00. Britam's unbelievable run continued today as the insurer gained 11.7% to close at KES 14.75 on the back of local purchases after it announced that it intends to acquire a 99% stake in a smaller local insurer, Real Insurance.

Mauritius: Semdex -0.23%, USD 534k

A rather uneventful day in Port Louis as volumes remain low. The Sem-7 slipped by 37bps with only 2 stocks losing ground, NMH lost 3.49% to Rs83 and Alteo Limited fell by 13bps to Rs37.

Nigeria: ASI -0.06%, USD 24.84m

Tier 1 banks led the charge today although the overall index closed largely unchanged. Banks were up a solid 1.37% with Tier 1 banks leading the way – the highlights were GTB (+3.73%, N27.80), Access (+2.88%, N10.00) and ETI (+1.85%, N14.28). Tier 2 names were broadly soft. Consumers were unchanged for the day with activity levels also mush lower than in recent sessions. Oando (-2.08%, N15.54) and Transcor (-9.54%, N5.31) finally ran into brock walls after the fireworks of recent sessions.

Please note that the index figure above is correct at the time of writing.

South Africa: Top 40 +0.32%, USD 1.03bn

The JSE ended the day higher with the Top 40 Index gaining 0.32% to close at 39,767 while value traded amounted to USD 1.03bn. Industrials were the day's biggest gainers with the Index gaining 0.94% followed by Financials which gained 0.24% while Resources fell 0.80%. The Rand was trading at 10.05 and 13.59 to the USD and EUR respectively by the time local markets closed.

Zimbabwe: Industrials -0.04%, Mining -8.07%, USD 2.16m

The ZSE marginally weakened in Monday trades following on Friday’s losses. The Industrials dropped 0.04% to 216.93pts as heavycaps traded sideways in a mixed session. OKZIM, whose 2014 interims failed to stimulate demand on depressed margins as competition and tight liquidity continues to bite, was one of the major stocks to drag the industrials lower after easing 4.17% to 23c. Telecoms group Econet, also weighed on the market after softening 0.8% to 62c. Bindura was 10% softer at 1.8c at close of call while Hwange’s bid was dropped to 7c bringing the minings down to 45.23pts being an 8% drop on prior levels.

African Currencies