Movers & Shakers: November 26, 2012

African Currencies

otswana +0.36%, USD 253k

The vols were decent today and the mkt managed to advance +0.36% at the same time. Letshego did its usual thing and dominated the value traded table – accounting for 75% of the val traded. There were 3 price movers, NAP added +2t to close at 218t while FSG and TURNSTAR fell -5t and -10t respectively.

Egypt: EGX 30 +2.63%, USD 66m

The market managed to gain some of yesterday’s losses lead by notable institutional buying leaving the EGX30 to end the day up 2.63% to close at 5,047.17 points. Market volumes slightly improved compared to recent market turnover, market traded a total turnover of USD 66m. As we expected the market took a hit at the open to reach a low of 4,685.68 points, it was quite evident that the market was rebounding supported by continuous institutional buying accumulation, yet it’s worth mentioning that there is several issues still hanging such as violent clashes continue, between supporters and oppositionists against the president's decree, which left one MB member dead so far, and others injured. Panic and fears of further escalations between political powers are rising highly now. ORTE lead the market in terms of performance, this is mainly market chatter that Vimplcom will reach an agreement with the Algerian government soon, the former ended the day up 6.42% on strong volumes.

Investor mix:
•  Foreigners were net Buyers by 0.976 mn EGP and were 15.33% of the market.
•  Egyptians were net Sellers by 44.93 mn EGP and were 70.45% of the market.
•  Arabs were net Buyers by 43.95 mn EGP and were 14.22% of the market.
•  Institutions were net Buyers by 43.08 mn EGP and were 30.53% of the market.
•  Retail were net Sellers by 43.08 mn EGP and were 69.46% of the market.

Kenya: NSE 20 -0.06%, USD 6.82m

Another rather active day in Nairobi with value traded amounting to a very pleasing $6.82m. Foreign demand in Safcom continues (99% of purchases today) as a total of 33.83m shares changed hands in the name. Foreigners also dominated purchases in EABL (98%) as a total of 510k shares traded thanks to a few large crosses. Kenya Commercial Bank was also rather active with a few crosses in the counter as foreigners accounted for 96% of purchases with a total of 2.14m shares traded. Foreigners were net buyers and accounted for $6.00m of total purchases while they accounted for $1.56m of total sales. The market closed the day lower with the NSE 20 Index falling 0.06% to close at 4,163.91.

Mauritius Semdex +0.26%, USD 841k

It was a really slow session in Mauritius today with the value traded only just passed the $800k mark and 80% of this was accounted for by Cim Financial services. All the Sem-7 names traded sideways except for Bramer which managed to advance +3.33%.

Nigeria: ASI +0.15%, USD 9.69m

The mkt opened slightly stronger today and managed to stay in a narrow range around this level until the close which was +0.15% better than the previous close. There was very little in terms of price movement and the same applies to the activity levels – the mkt failed to breach the $10m mark. Only three names traded more than a million dollars’ worth FBN, GTB and Zenith. 20 stocks advanced, 24 declined and 48 remained unchanged.

South Africa: Top 40 -0.30%, USD 790m

The JSE ended the day lower with the Top 40 Index falling 0.30% to close at 33,531 while value traded amounted to USD 790m. Financials were the day's biggest losers with the Index falling 0.61% followed by Industrials and Resources which fell 0.29% and 0.04% respectively. The Rand was trading at 8.85 and 11.47 to the USD and EUR respectively by the time local markets closed.

Zambia: LuSE -0.02%, USD 192k

Decent start to the week with value traded amounting to USD 192k thanks to a cross in ZMBF. The names that traded included CEC, ZMBF, ZSUG and ZNCO. ZMBF was the biggest contributor towards turnover with value traded in the name amounting to USD 179k. CEC was the second biggest contributor towards turnover with value traded in the name amounting to USD 3.9k.

Zimbabwe Industrial +0.12%, Mining -3.17%, USD 618k

The industrial index opened the week firm +0.12% at 152.87 pts in an uneventful session. Total turnover declined by -50.22% bringing Monday’s value of trades to $618,038 while there were no foreign transactions for the first time this month. The bulk turnover was invested in telecoms giant Econet where shares worth $582,091 (94%) took place .Delta contributed 2% to the turnover whilst the rest of the counters accounted for the remaining 4%. Volumes traded also decreased -83.97% to the 52-week low of 725,490 shares. Eight counters recorded price movements with gainers/losers spilt 5:3 respectively. Econet saw 118,528 shares exchanging hands at 491.10c being a +0.22 from the last traded price. Mining index closed weaker at 68.19 pts having dropped 2.23 pts (-3.17%).This loss is attributable to Bindura that lost -14.29% to close 1.50c .All the other counters did not transact.