Movers & Shakers: November 27, 2013

Botswana: DCI +0.03%, USD 9k

Very dull in Botswana today with a paltry USD 9k traded.

Egypt: EGX 30 -0.64%, USD 64m

The market traded on mixed sentiment, causing the EGX30 to end the day down 0.64% to 6,205.36 points. Market volumes were low relative to recent turnovers, with the market trading a total turnover of USD 64m, of which more than 10% was attributed to one cross in ACGC. The market started the day with notable positive sentiment to reach a high of 6280.53 points with names such as COMI(+0.48%), HRHO(+0.12%), and ACGC(+0.72%) trading in the greens. However, in the last 90 minutes of trading, local investors were strong sellers, pressuring the market to reach a low of 6204.27 points. PHDC(-1.93%), GTHE(-1.92%) and AIND(-3.57%) witnessed selling pressure, with the main reason behind the selloff being concerns of possible demonstrations over the weekend after the new protest law.

Kenya: NSE 20 +0.78%, USD 8.5m

Another active day in Nairobi as local investors dominated activity (64% of purchases and 56% of sales) with value traded amounting to $8.5m. Foreign investors however dominated activity (84.8% of purchases) in Kenya Commercial Bank as a total of 2.99m shares changed hands. Britam was the day's top gainer, climbing 5.8% to a new high of KES 16.35, though foreign investors were net sellers in the counter. Activity slowed down in Safcom as 8.01m shares traded with the telco closing unchanged at KES 11.00. NIC Bank announced its 3Q13 performance figures during trading posting a 17.6% y/y rise in EPS. The counter was flat at KES 60.

Mauritius: Semdex -0.10%, USD 957k

Nothing much of note happened today as we saw marginal weakness on the Semdex. The Sem-7 fell by 14bps with losers including NMH (-30bps, Rs82.50), Alteo (-68bps, Rs36.75) and Terra (-74bps, Rs40.20). There were no gainers.

Nigeria: ASI +0.09%, USD 29.77m

It was a solid enough day in Lagos as value traded amounted to $29.77m thanks to some good two-way flow and a few big crosses. There was some heavy activity in the likes of Zenith Bank ($7.86m), Nestle ($5.49m) and Oando ($2.36m) as foreign demand drove the majority of the activity. Banks managed to close the day higher with the Bank 10 Index gaining 0.48% thanks to Access (+1.62%) and UBA (+1.33%). Consumers also managed to end the day higher with the Consumer Goods Index gaining 0.63% with Cadbury (+5.00%) and Glaxo (+1.85%) driving the sector higher. Investors seemed to like Cadbury's announcement of a proposed share consolidation (out after the session yesterday).

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

South Africa: Top 40 +1.47%, USD 1.31bn

The JSE ended the day higher with the Top 40 Index gaining 1.47% to close at 39,768 while value traded amounted to USD 1.31bn. Industrials were the day's biggest gainers with the Index gaining 1.59% followed by Financials and Resources which gained 1.35% and 1.05% respectively. The Rand was trading at 10.23 and 13.88 to the USD and EUR respectively by the time local markets closed.

Zimbabwe: Industrials -0.16%, Mining unch, USD 2.82m

Market heavy weights Delta and Econet donned the risers to continue the fine run by market heavy caps that have been gracing the daily top movers in all the sessions for the week to date. However almost all sessions experienced mixed trading with almost similar weights on the downside. This resulted in a seesawing effect with today’s trades summing into a reversal of yesterday’s gains. The industrial index was -0.16% worse off to close at 217.26pts as gains in Delta and Econet of 0.18% and 0.02% to 153.3c and 62.01c fell short of neutralizing the downside. Old Mutual gave the much needed weight on the fallers with a 1.45% ease, trekking the London and JSE prices on a southwards spiral. Foreign players continue to drive value on the ZSE, from a total $2.82m turnover foreigners grabbed a lion’s share at 90% of the value or $2.54m. The foreign purchases were highly concentrated between Econet and Delta.

African Currencies