Movers & Shakers: October 01, 2012

African Currencies

Botswana: closed today and tomorrow

Egypt: EGX 30 -2.95%, USD 140m

The market witnessed today notable profit taking today lead by Local and international institutions, the EGX30 managed to end the day down 2.95% to close at 5,650.07 points. Market volumes continue trade to trade within recent average volumes, the market traded a total turnover of EGP853m. Profit taking was evident today after the market traded positively for last couple of sessions, yet retail investors continue to with their buying frenzy to end the day as net-buyers. The real-sector witnessed a notable hit today, name such as TMGH, OCDI and PHDC last printed down 6.97%, 9.73% and 9.56% respectively. CCAP ended the day at a VWAP of 4.15 down 6.94%, the name was trading at limit down in the last hour of the session, to last print at 4.03 down 9.87% on above average volumes.

Investor mix:
•  Foreigners were net Sellers by 36.63 mn EGP and were 19.74% of the market.
•  Egyptians were net Sellers by 4.59 mn EGP and were 74.52% of the market.
•  Arabs were net Buyers by 41.23 mn EGP and were 5.74% of the market.
•  Institutions were net Sellers by 98.50 mn EGP and were 32.64% of the market.
•  Retail were net Buyers by 98.50 mn EGP and were 67.35% of the market

Kenya: NSE 20 -0.37%, USD 3.5m

The market started the week on a low note with turnover sliding 24% despite high foreign investor participation at 60% of trades. The NSE 20 eased 0.37% to 3965.8 points following profit taking on some counters. BAT was the day’s top mover on strong foreign investor demand, accounting for 26% of turnover, remaining unchanged at KES 430. Safaricom and Equity Bank witnessed some profit taking, slipping 1.1% and 1.23% to KES 23 and KES 4.05 respectively. Kenya Airways which went ex div last week Friday saw some price adjustment easing 2.5% to KES 11.70. Investors are expecting disappointing 1H13 earnings weighed down by retrenchment costs and its expansion project.

Mauritius: Semdex -0.19%, USD 912k

Not much to report on in Mauritius, less than a million dollars’ worth traded and the mkt losing -19bps. MCB was the top trader, losing -62bps at the same time to close at 161.00. The other bank in the Sem-7, SBM also lost ground -0.6% to close at 83.00. From the hoteliers NMH managed to gain some points +1.82% to close at 56.00. Terra, together with the banks was the other faller -0.79% on the day to close at 37.7. The only other winner was the conglomerate Rogers +0.32% on decent vols.

Nigeria: closed

South Africa: Top40 +1.8%, USD 1.3bn

A strong end to the day with the JSE closing at its highs led by the large cap diversified miners. The strong ISM print provided the impetus for the local mkt to push on after an early afternoon lull. Volumes were below average. Resources +2.8%. Golds and plats end mixed as more headlines on the labour issues come out. Financials +73bps with Insurers OML +3.3%, SLM +80bps. Banks INL +2.9%, INP +2.4%, ASA +72bps vs NED, FSR & SBK all flat. ABL -67bps more questions about unsecured lending. Industrials +1.3%. Retailers mixed again.

Zambia: Alsi-4.52%, USD 131K

The activity in Zambia was dominated by Zambeef. The counter traded $ 120k worth at a px of k2600.00. The other names to trade were CEC, Lafarge, Natbrew, SCZ and Zanaco. Lafarge was the only px mover +0.01% to close at 8,006.00.

Zimbabwe: Industrials +0.9%, Mining unch, USD 859k

ZSE shares enter the fourth quarter on a positive note boosted by the positive momentum gathered from the third quarter. The industrial index rose 0.90% to close at 147.31 points supported by gains in Delta, DZL, Innscor and Meikles albeit on light volumes. The industrial index is now 0.99% up YTD. Foreign appetite in Delta saw the stock rise 2.56% to close at 80c solidifying its status as the largest listed stock on the ZSE with a market capitalization of $920.6m (8% of GDP). Food processor DZL advanced 0.66% to 16.81c, Innscor rose 2.24% to 68c also supported by foreign interest and Meikles was 1.25% firmer at 16.2c. Heavy weights Econet and Old Mutual were unchanged at previous prices of 441c and 173c while Seedco was bid lower at 85c. Trading activity declined as volumes slumped 92% to 4m shares while turnover declined 66.7% to $0.859m. Foreign investors dominated today’s session accoun ting for 82% of purchases ($0.7m) and 48% ($0.41m) of the sales. The mining index was unchanged at 96.00 points. No trades were recorded in the sector.