Movers & Shakers: November 28, 2013

Botswana: DCI +0.10%, USD 3.19m

It was a much better day in Gaborone today as value traded amounted to USD 3.19m thanks to a cross of 2m Stanchart wich acounted for 85% of the day's turnover. There was also a small bit of action in Letshego as 1.57m shares traded.

Egypt: EGX 30 -0.34%, USD 43m

The market witnessed a slow session with static trading causing the EGX30 to end the day down 0.34% at 6,4184.11 points. Market volumes were significantly low relative to recent turnovers, with the market trading a total turnover of USD 43m. The market witnessed a notably slow session with some minor profit booking ahead of the of the protests expected this weekend over the new protest law. Selling pressure was lead by local and international institutions. Names such as PHDC, COMI and ETEL witnessed selling pressure, each ending the day down 1.18%, 1.10% and 0.75% respectively. Local retail along with GCC investors managed to support the market to end the day as net buyers, targeting names such as UNIT, OCDI and ESRS. International Institutional investors accounted for less than 8% of total turnover.

Kenya: NSE 20 +0.22%, USD 4.7m

With the US closed we saw severely reduced foreign participation and hence an overall reduction in turnover. The index did rise slightly with Equity Bank (+71bps, KES 35.50) a big reason for this. Safcom closed unchanged at KES 11.00 while KNCB fell slightly to KES 48.50. BRIT reversed some of its recent strength by falling 3.7% to KES 15.75.

Mauritius: Semdex +0.12%, USD 673k

Not much on the go in Port Louis today as value traded amounted to a very dull $673k. SBM accounted for the bulk of activity as 10.1m shares changed hands while a paltry 3k shares traded in MCB.

Nigeria: ASI -0.21%, USD 16.15m

As expected with the US out for Thanksgiving we had a generally lackluster day in Lagos as foreign investors were mostly absent. Outside of a chunky cross in ETI ($4m) the day never got going. Banks lost 69bps today with all banking names closing slightly in the red or unchanged. Tier 2 names were dead and outside of the ETI cross there wasn’t much happening in the Tier 1 names either. Consumers gained a solid 60bps today led by Cadbury (+5%, N62.85) and Dangote Sugar (+2.82%, N11.30).

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

South Africa: Top 40 +1.30%, USD 1.15bn

The JSE was strong with green across all sectors. In the absence of the US the rand was on the back foot and trading at R10.22, R16.72 and R13.90 vs the USD, GBP and EUR respectively at the time of writing.

Zimbabwe: Industrials -0.93%, Mining unch, USD 499k

Most indicators trekked southwards amid a dearth in activity. ZSE daily turnover, which had averaged $1.7m month to date and $2.2m in the previous 5 sessions, was worse off at $0.49m in today’s call. Trades in BAT and Delta constituting 71% of the absolute value trades saved the day. The cigarrete manufacturer was stable at 1280c while telecoms Econet surged 0.31% to 62.20c. Volumes softened by 89% to yesterday to 1.23m shares with contributions anchored by Bindura which exchanged 0.295m shares at 2c. The minings index however stuttered maintaining the same level of 47.02pts for the 3rd session running. The industrials eased 0.93% to 215.24pts on Delta’s retreat of 2.15% to 150c.

African Currencies