Movers & Shakers: November 29, 2012

African Currencies

Botswana -0.09%, USD 930k

It was an active day in Gaborone today with almost a million dollars’ worth going through. The trading was skewed towards Letshego – as is usually the case – accounting for over 60% of the vals. The other two names that are worth mentioning from a val traded side are FNBB and Sechaba in that order.

Egypt: EGX 30 -0.16%, USD 59m

The market ended the day slightly lower, leaving the EGX30 to end the day down 0.16%. Market volumes were relatively weak compared to recent market volumes, market traded a total turnover of USD 59m. Tension and Fears of escalation and violent clashes are at their peaks now, with Clashes continuing to be seen between protesters and security forces, and the MB is calling for a protest this coming Saturday in Tahrir sq which could result in clashes, the market traded with a static sentiment with retail investors(local and GCC) as the sole net buyers local and international institutions as net sellers. MOIL continues to trade against the sentiment, this come after MOIL released a relatively good set of results in 3Q2012 compared to the recent past, as the company has been reporting losses for the past three quarters, the former ended the up 2.04%.

Investor mix:
•  Foreigners were net Sellers by 22.50 mn EGP and were 25.35% of the market.
•  Egyptians were net Sellers by 6.98 mn EGP and were 62.59% of the market.
•  Arabs were net Buyers by 29.49 mn EGP and were 12.06% of the market.
•  Institutions were net Sellers by 32.87 mn EGP and were 42.65% of the market.
•  Retail were net Buyers by 32.87 mn EGP and were 57.34% of the market.

Kenya: NSE 20 -0.40%, USD 4.3m

Equity turnover climbed 11.8% driven by increased local investor participation at 46% compared to 33% in the previous session. The NSE 20 index continued to decline slipping 0.40% to 4,111.92 points driven by profit taking on some large cap counters. Safaricom was the day top mover accounting for 31% of volumes driven by net foreign buying. After witnessing supply overhang over the past two days following an announcement by CCK to cut mobile termination rates by 35%, the counter today got some reprieve remaining unchanged at KES 4.90. Of the top movers foreign investors accounted for over 90% of demand in EABL (+0.8%), Kenol Kobil and Equity Bank (-2.1%). KCB continued to witness profit taking further easing 2.7% to KES 27.50. Top gainers and losers today were on thin volumes.

Mauritius Semdex +0.10%, USD 290k

Another really slow day in Mauritius with less than $300k trading while the Semdex and Sem-7 managed to edge up +0.1% and +0.16% respectively. There were three px movers from the Sem-7 - MCB was the lone loser -1.23% to close at 161.00 while the other big banks SMB and Bramer added +1.18% and +5.63% respectively. Val traded was low all round.

Nigeria: ASI +0.23%, USD 10.95m

More of the same, slow slow slow with no respite in sight. Once again the mkt vals are stuck around the $10m mark. The mkt opened slightly stronger and continued to edge higher before pulling back to level and then managing to claw its way back to +23bps. With the lack of conviction that persists it is little surprise that there is no general direction being seen by the banking sector. GTB fell -1.97%, Zenith jumped +2.42%, Stanbic was cut -4.99% while Fidelity leapt +2.44% meaning that the bnk10 closed +0.21% better off. There were some decent performances put in by some consumer names Unilever +4.99%, UACN +1.41%, DangS +0.88% and Nestle +0.14%. It is also worth noting that mkt heavyweight DangC added +0.37%. 27 stocks advanced, 18 declined and 59 remained unchanged. The highest value of trades were in ZENITHBANK, GUARANTY, ACCESS, NB and FIRST BANK.

South Africa: Top 40 +1.32%, USD 1.25bn

The JSE ended the day higher with the Top 40 Index gaining 1.32% to close at 33,664 while value traded amounted to USD 1.25bn. Resources were the day's biggest gainers with the Index gaining 2.33% followed by Industrials and Financials which gained 0.87% and 0.77% respectively. The Rand was trading at 8.79 and 11.41 to the USD and EUR respectively by the time local markets closed.

Zambia: LuSE -0.04%, USD 122k

Activity continues to impress (on a relative basis) with value traded amounting to USD 122k thanks to a cross in ZAIN. The names that traded included CEC, LAFA, ZAIN and ZSUG. ZAIN was the biggest contributor towards turnover with value traded in the name amounting to USD 116k. CEC was the second biggest contributor towards turnover with value traded in the name amounting to USD 2.3k.

Zimbabwe Industrial -0.57%, Mining +0.16%, USD 610k

The gains recorded on the ZSE yesterday proved short-lived as losses in heavy caps Econet, Seedco and ABCH dragged the ZSE mainstream index lower in Thursday trades. The industrial index slipped 0.57% to 151.50points after Econet eased 0.31% to 490c, banking group, ABCH gave up 16.67% to 50c while Seedco lost 4.49% to 85c in the wake of disappointing interims from parent group AICO. AICO closed offers only at 12c after reporting an interim loss of $27.4m weighed interest costs, higher impairments charges, supply chain inefficiencies, higher seed cotton prices and low throughput and sales volumes. Innscor recovered 0.14% to 69.10c, DZL rose 2.33% to 21.50c. Trading activity was subdued as volumes dropped 60% to 3.84m shares while value traded declined 84% to $0.610m. Foreign inflows were low amounting to a paltry $0.169m while outflows were almost nil. The mining index gained 0.16 points (0.23%) to close at 70.70 points spurred by a 3.45% gain in RIOZIM which closed at 60c. Coal miner, Hwange was however 2.91% lower at 17c. BINDURA and FALGOLD recorded no trades.