Movers & Shakers: October 02, 2012

African Currencies

Botswana: public holiday

Egypt: EGX 30 -0.68%, USD 89m

The market witnessed notable profit taking lead by international and local investors yet the market managed to gain some grounds by session end, leaving the EGX 30 to end the day down 0.68% to close at 5611.77. As the market started trading Local and International institutions pressuring the market to trade more than 1.50%(5558.39 points) lower, after minutes of trading local retail and GCC institutions started to be aggressive buyers lifting to reach a high of 5646.69 points, it’s worth mentioning that local institutions ended the day as net-buyers. The Market volumes traded below average volumes compared to recent turnover, market traded a total turnover of USD 89m. COMI managed to bounce back after trading in the reds at session open at 33.40, yet the name managed to regain some grounds to last print up 2.68% at 34.90.

Investor mix:
•  Foreigners were net Sellers by 6.12 mn EGP and were 12.15% of the market.
•  Egyptians were net Sellers by 41.12 mn EGP and were 77.60% of the market.
•  Arabs were net Buyers by 47.24 mn EGP and were 10.25% of the market.
•  Institutions were net Buyers by 36.83 mn EGP and were 29.27% of the market.
•  Retail were net Sellers by 36.83 mn EGP and were 70.72% of the market

Kenya: NSE 20 -0.52%, USD 6.80mill

The session was totally dominated by activity in KNCB with 61% of the days turnover coming in this 1 stock. The name closed unchanged at KES27.50 and almost the entire buy side was foreign while just over half the sell side was foreign. There was also a large cross in Uchumi with a local fund selling to a foreign investor while the name closed up 2.79% at KES18.45. The rest of the market was very quiet. StanChart Kenya, the country’s 4 th largest lender, announced that it will issue 22.1mill new shares in a rights offer from 9-26 Oct. SCB closed the day up 98bps at KES207

Mauritius: Semdex -0.12%, USD 460k

Both the Semdex and the Sem-7 ended the session in the black but there was very little convition to support this move as the value traded was only $460k. There were only two px movers from the Sem-7 today, MCB added +0.62%, with decent vols pasing through as usual. Rogers was the other px mover, losing -0.32% during the session. Lux Island Resorts was the biggest trader on the day - moving sideways at a px of 15.00.

Nigeria: ASI +0.05%, USD 16.23mill

A relatively muted start to Q4 in Lagos after the day off yesterday to celebrate Independence Day. The banking sector was on fire (BNK10 +3.03%) which was primarily thank to GTB (+9.56%, N20.98) on decent volumes. Access Bank (+3.83%, N8.95) was also strong while Zenith Bank yet again dominating volumes as the highest turnover of the day. Consumer names Nestle and brewer Nigerian Breweries were also rather active with just under $1mill trading in both of the names. Among the larger names, the only real struggler was PZ which closed down 5.14% at N24 while heavyweight Dangote Cement closed down 3.23% at N119.03.

South Africa: Top 40 -0.20%, USD 1.5bn

Some profit taking in the miners today after a solid Monday. Resi still +7.6% for 1 month. Felt like some switching back into the domestics (especially the retailers). Defensive industrials also pretty well bid. Resources -1% with heavy weights SOL +80bps (the standout). Golds & Plats gave back -1.6%. Financials +39bps muted activity across the sector. Industrials +35bps.

Zambia: LuSE +0.56%%, USD 412k

Lusaka was active today with $412k trading. The names that traded were CECZ, FQMZ, REIZ, PUMA, ZAMBREW, ZANACO, ZAMBEEF & ZSUGAR. Zambrew was the big mover accounting for $350k worth. There were two px movers, Lafarge and Zambrew gained ground +0.1% and +5.62% respectively, while FQMZ eased -0.06%.

Zimbabwe: Industrial Index +0.86%, Mining Index unch, USD 1.1m

Industrials continued to trek northwards firming +0.86% to 148.58pts as market heavy weights Delta, Innscor, Old Mutual, BAT, Hippo and OK Zim powered ahead. Market activity improved significantly with volumes traded surging 286% to 15.5m shares and yielding $1.1m in value of against $858k previously on 27 active stocks. Delta was the market favorite buoyed by a mix of foreign and local demand accounting for 48% of the value traded on the bourse while Innscor and CBZ were distant second and third with 20% and 9% respectively. Overall market demand was almost evenly balanced with foreign buying coming in at 53% of the market total value. BAT closed at an all time high of 445c in the wake of a cautionary to shareholders on a possible transaction. No trades were recorded in the mining stock and therefore remained stable at 96pts.