Movers & Shakers: October 03, 2012

African Currencies

Botswana: DCI +0.22%, USD 311k

96% of the activity was in the name Sechaba although 13 names did trade in the session. Six names changed value with a 5 of the 6 names closing in the red and only one in the black. The losers were Engen 614t, NAP 210t, Sechaba 1550t, Sefalana 300t and Turnstar 148t while Choppies was the lone winner.

Egypt: EGX 30 +0.79%, USD 46m

The market ended the day higher on very low volumes, leaving the EGX30 to end the day up 0.79% to close at 5656.15 points. The market traded notably low volumes, market traded a total turnover of USD 46m in which more than 14.50% of the total turnover. Local institutions started to increase their exposure today in the market after being notable sellers in last couple of sessions, yet international institutions continue to book profits in the market at these levels along with local retail investors who have been notable buyers for last couple of weeks. Names such as EKHO, TMGH and ORWE traded against the general market sentiment, each ending the day down 0.78%, 0.58% and 0.35% respectively. JUFO and ORTE managed to lead the market in terms of performance, both names witnessed notable buying appetite to end the day up 3.67% and 2.27% respectively.

Investor mix:
•  Foreigners were net Sellers by 21.34 mn EGP and were 25.24% of the market.
•  Egyptians were net Buyers by 5.54 mn EGP and were 68.34% of the market.
•  Arabs were net Buyers by 15.80 mn EGP and were 6.42% of the market.
•  Institutions were net Buyers by 22.08 mn EGP and were 34.69% of the market.
•  Retail were net Sellers by 22.08 mn EGP and were 65.30% of the market

Kenya: NSE 20 +3.14%, USD 8.48m

Another extremely active day in Nairobi with value traded amounting to a rather impressive $8.48m as most of the blue chips were rather active. Foreigners dominated trading in EABL (94% of purchases and 94% of sales) as a total of 1.29m shares traded thanks to a large cross. Foreigners were net buyers (90% of purchases) in Kenya Commercial Bank as a total of 4.82m shares traded thanks to a few large crosses. Equity Bank was also very active as foreigners accounted for 79% of total sales with a total of 4.70m shares traded over the day. Foreigners were net sellers and accounted for $6.02m of total sales while they accounted for $5.89m of total purchases. The market closed the day in positive territory with the NSE 20 Index gaining 3.14% to close at 4,069.33.

Mauritius: Semdex -0.19%, USD 929k

It was a tough session in Mauritius meaning that the index fell -19bps on low vols. NMH fell -1.79% although foreigners dominated the buy side. Bramer Banking Corp officially moved into the SEM-7 at the expense of IBL. Bramer fell -1.12%on very low vols in its first session in the big league. Rogers will be moving to the investment segment as of the 8 th of Oct. From the SEM-7 the other name to change px was Terra – the name eased -0.53%.

Nigeria: ASI +0.64%, USD 14.14m

The Nigerian mkt opened flat to lower until finally closing +64bps to the good while the value traded was $14.14m. Most names were stronger except for some of the bigger banks. ETI fell -1.61%, GTB gave up -4.15% while Access slid -2.79%. Consumer name PZ Cussons H1 numbers were released. Top line went down -8.4%, PBT and PAT were both up 27.9% and 50% respectively. Top line came in behind expectations on the revenue front while profit figures came in ahead of expectations. The names closed unch at 24.00. From the other conglomerates, Flourmill and Unilever were winners +2.16% and 2.38% respectively. After dragging the mkt down yesterday, mkt heavyweight DangC traded unch today at 119.03. Food names Cadbury and Nestle enjoyed lots of support today meaning that they surged +4.17% and +5.00% respectively. Brewer, Guinness NL also had a stellar day clos ing the day +5.00% higher. 42 stocks advanced, 10 declined and 49 remained unchanged. The highest value of trades were in GTB, FBN, Zenith and Cadbury. The list of stock that Market Makers make will increase from the current 16 to a 25 tomorrow. This is in-line with attempts to increase liquidity in the mkt. Pls see the list below for the additional 9 names: Access Bank; Academy Press; Custodian & Allied Insurance; First Bank Plc; Dangote Sugar Plc; Union Bank Plc, NASCON and Nestle Nigeria Plc as well as AIICO Insurance Plc.

South Africa: Top 40 -0.48%, USD 1.41bn

The JSE ended the day lower with the Top 40 Index falling 0.48% to close at 31,868 while value traded amounted to USD 1.41bn. Resources were the day's biggest losers with the Index falling 1.46% while Financials and Industrials gained 0.24% and 0.11% respectively. The Rand was trading at 8.42 and 10.88.

Zambia: LuSE -0.05%, USD 7k

Extremely quiet day in Lusaka with value traded amounting to USD 7k. The names that traded included CECZ, FQMZ, LAFA, REIZ, PUMA, ZAMBREW, ZNCO, ZMBF and ZSUG. LAFA was the biggest contributor towards turnover with value traded in the name amounting to USD 2.4k. ZMBF was the second biggest contributor towards turnover with value traded in the name amounting to USD 2.2k.

Zimbabwe: Industrial Index +0.11%, Mining Index -3.52%, USD 277k

Industrials picked a further 0.11% in mid-week trades supported by gains in Econet, Old Mutual, Seedco and Innscor despite selling pressure emerging in mid-tier and small caps. Losers outnumbered gainers by 14 to 11 on selective profit taking. Financial stocks Barclays and CBZ lost 2% and 6.90% to 9.8c and 2.7c respectively as the RBZ introduces a the tender of $15million, 91 day tenure Treasury Bills as part of rejuvenating the money market. The telecoms giant Econet restored its status as most pricey stock in absolute terms gaining 2.04% to close at 450c after the government seemingly closed the door to new entrants in the mobile market on grounds that the market is already saturated. Seedco rose an impressive 3.50% to 89.01c. Trading activity dropped significantly with volumes declining 93% to 2.7m shares. Total market turnover dropped 76% to $0.277m. F oreign participation in absolute numbers dropped to $0.1m due to thin volumes in heavy cap stocks Seedco, Innscor, Delta, Econet and AICO. The mining index eased 3.52% to 92.62points weighed down by losses in Hwange and Rio. Rio lost 8.4% to 60c on profit taking while Hwange pared 5.26% to 18c.