Movers & Shakers: October 02, 2013

Botswana: DCI unch, USD 440k

There was 1 cross in FNBB today at 370t for 1m shares that was almost 100% of today’s action. Outside of this virtually nothing happened.

Egypt: EGX 30 +0.29%, USD 58m

The market traded with a mixed sentiment today to end the day in slightly higher, leaving the EGX30 to end the day up 0.29% to close 5,694.01 points. The market continues to trade decent volumes relative to recent average turnovers, the market traded a total turnover of EGP401m. The market started the day with a negative sentiment to reach a low of 5,670.14 with local investors as net-sellers targeting names such as ACGC, UEGC, and HRHO leaving each to end the day down 2.48%, 1.52% and 1.47% respectively, after 45min of trading institutional investors stepped in the market as net buyers lifting the market to trade in the greens targeting name such as EAST, SWDY and COMI leaving each to end the day up 1.06%, 4.17% and 0.47% receptively.

Kenya: NSE 20 +0.54%, USD 14.8m

A very active session in Nairobi after yesterday’s debacle. Foreign buying pushed both volumes as well as the NSE higher. Foreign investors were also more active than normal on the sell side. EABL gained an impressive 4% to close at KES 339 with aggressive foreign buying pushing the brewer higher. Equity Bank (unch, KES 33.75), Uchumi (+50bps, KES 19.95) and Safcom (+60bps, KES 8.75) also saw some chunky activity with foreign buying the driver in all these names. I&M also saw a large cross with a foreign seller and local buyer as the name closed down 3.8% at KES 100. KNCB was quieter than normal and closed unchanged at KES 46.50.

Mauritius: Semdex -0.14%, USD 2.45m

Another active day in Mauritius with chunky action in SBM yet again livening up the bourse. SBM accounted for about half the total turnover as the name again closed unchanged at Rs101. MCB gained 26bps to Rs194 also on decent volumes while Terra fell by 25bps to Rs40.00.

Nigeria: ASI +0.88%, USD 30.60m

The initial teething problems with the new trading platform in Nigeria seem to be sorted out with prices, etc updating correctly over the session. As such, and coupled with the resumption of trade after the public holiday yesterday, activity picked up nicely with value traded amounting to $30.60m. Zenith ($7.63m) was the outright leader in terms of value traded thanks to a few large crosses in the name. There was an aggressive buyer in Nigerian Breweries as the counter rallied 1.82% on solid volume of $3.64m. Banking stocks (+1.49%) were very strong today thanks to the likes of First Bank (+3.05%) and UBA (+2.70%). Consumers (+1.36%) were also strong as there was solid demand in UACN (+4.46%) and Dangote Sugar (+1.85%).

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

South Africa: Top 40 -0.02%, USD 1.34bn

The JSE ended the day lower with the Top 40 Index falling 0.02% to close at 39,362 while value traded amounted to USD 1.34bn. Industrials were the day's biggest losers with the Index falling 0.24% followed by Financials which fell 0.14% while Resources gained 0.72%. The Rand was trading at 10.04 and 13.65 to the USD and EUR respectively by the time local markets closed.

Zimbabwe: Industrials +1.20%, Mining unch, USD 5.30m

Today’s session was highlighted by a special bargain done in property group Dawn, where 294m shares (12% of the shareholding) was traded at 1.47c. This culminated in aggregate volumes inflating +3130.16%, making it the largest contributor with 99% whilst the rest took on 1% of the total contributions. Value traded receded by -32.27% despite the special bargain due to weaker market strength on the bourse. Foreign interest eased with buys down 1 -99.14% to $0.064m and sellers retreating -90.07% to $0.764m at close of call. Strong interest on market heavies continued to fuel the industrials surge adding +1.20% to 203.36 pts. Notable on the blue chips was BAT topping with +8.33% to 1300c on strong demand although the firm recorded a loss on the back of expenses arising from complying with the indeginisation policy. Natfoods followed suite firming +4.17% to 250c with retailer OK ZIM advancing +3.70% to 28c. Delta, Innscor and dual listed Old Mutual also notched 0.80% to 126c, 1.22% to 83c and 1.05% to 240.51c respectively.

African Currencies