Movers & Shakers: November 26, 2013

Botswana: DCI +0.15%, USD 4.6m

A very chunky trade in the hardly ever traded stock NAP accounted for the bulk of today’s turnover. There was also some decent turnover in Turnstar (170t) as well as FNBB (389t). Choppies continues to trade higher and closed at 315t.

Egypt: EGX 30 -1.75%, USD 71m

The market witnessed a correction to be the biggest daily decline since October, leaving a the EGX30 to end the day down 1.75% to close at 6,245.46 points. Market volumes were slightly weaker than recent average turnovers, with shares worth USD 71mchanging hands. The market finally saw the long-awaited profit booking, with institutional investors (international, GCC, and local) pressuring the market with notable selling. HRHO dropped 2.00%, TMGH 1.58%, and GTHE 1.47%. COMI was the biggest index decliner today, down -4.25% and witnessing very strong selling pressure on almost five times the 30-day average turnover.

Kenya: NSE 20 +0.34%, USD 17.8m

It was an incredibly active day in Nairobi as value traded amounted to a very impressive $17.8m. Safcom dominated proceedings as $6.75m worth of stock changed hands as locals accounted for 78.5% of purchases while foreigners (94.2%) dominated sales. NMG was very active as foreigners dominated purchases in the counter with 632k shares changing hands in the name thanks to a very large cross. The two major banks were also very active with foreign demand driving Equity Bank as 3.50m shares traded while demand was evenly balanced between locals and foreigners in Kenya Commercial Bank as 2.25m shares traded.

Mauritius: Semdex -0.04%, USD 1.55m

Nothing exceptional to note on the Mauritian bourse today. The Sem-7 was unchanged with the only stocks moving being NMH (-30bps, Rs82.75) and IBL (+51bps, Rs98.50).

Nigeria: ASI -0.63%, USD 30.05m

Some sellers came into the market today and hit the Tier-1 banks particularly hard. The only exception on the Tier 1 names was ETI which gained 5% to N14.99 while all other names closed in the red. Banks closed down 47bps in total on some decent activity. Consumers were largely unchanged today with some weakness in NB (-2.94%, N165.02) and Cadbury (-1.72%, N57) offset by strength in Nestle (+4.43%, N1250) and Flour Mills (+1.67%, N85). NB and Nestle saw good turnover. Transcor (-9.6%, N4.80) and Oando (-3.47%, N15) continue to sell off on big volumes. After the market closed, Cadbury announced that it plans to cancel two-fifths of its outstanding shares.

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

South Africa: Top 40 -1.44%, USD 1.75bn

The JSE ended the day lower with the Top 40 Index falling 1.44% to close at 39,194 while value traded amounted to USD 1.75bn. Financials were the day's biggest losers with the Index falling 1.53% followed by Industrials and Resources which fell 1.32% and 1.15% respectively. The Rand was trading at 10.14 and 13.71 to the USD and EUR respectively by the time local markets closed.

Zimbabwe: Industrials +0.31%, Mining +3.96%, USD 2.52m

The mainstream Industrial Index closed today’s session on the upside effectively reversing yesterday’s losses. The session characterized by sideways trading in heavy caps resulted in a 0.31% gain to 217.60pts for the industrials. Gains in Delta (+1.14%) , BAT (+2.4%) and Seedco (0.1%) to 153.02c, 1280c and 91.1c respectively outweighed the losses in Natfoods (-2.3) , Old Mutual (-1.8%) and Innscor (-0.6%). Bindura led the minings resurgence of 3.96% to 47.02 pts, after firming 11% to 2c. Rio Zim was stable at 32c to cap the activity in the resources. Econet was unchanged at 62c while OK was bid lower at 20c. The telecoms group which recently added Ecocash save mobile banking platform to its product offering announced that the facility will advance loans to account bearers.

African Currencies