Movers & Shakers: October 04, 2012

African Currencies

Botswana: DCI +0.13%, USD 4.9m

Massive day in Gaborone today with the mkt almost breaching the %5m mark thanks to a huge cross in Lestshego which accounted for 97% of the daily value traded. The stock traded at 140t. BIHL was also active by the usual standards, trading +5t at 1035t. There were no losers but 6 winners on the day. BIHL, Choppies, Cresta ,Letlole, Primetime and Stanchart.

Egypt: EGX 30 +1.24%, USD 109m

The market managed to end the day higher lead by GCC and international institutions buying, leaving the EGX30 to end the day up 1.24% to close at 5,726.12 points. Market volumes were weaker than recent average turnover, the market traded a total turnover of EGP664m. Volatility continued throughout the day today in Egyptian blue-chips as international investors along with GCC institutional investors started to increase their exposure in the market after being net sellers yesterday, yet local retail investors continue with their profit booking sentiment at these levels. ESRS witnessed notable selling today leaving the stock to end the day down 3.39% to close at 11.12, this came after news that Ahmed Ezz being fined EGP19.3 billion, along with a jail sentence of seven years, upon the announcement the stock was hit to reach a low of 10.81 yet by a session end the stock managed to regain some of its losses to last print at 11.07.

Investor mix:
•  Foreigners were net Buyers by25.20 mn EGP and were 14.18% of the market.
•  Egyptians were net Sellers by 78.06 mn EGP and were 73.51% of the market.
•  Arabs were net Buyers by 52.86 mn EGP and were 12.31% of the market.
•  Institutions were net Sellers by 6.66 mn EGP and were 27.05% of the market.
•  Retail were net Buyers by6.66 mnEGP and were 72.94% of the market.

**Reminder: Next Sunday Oct 7th is a public holiday in Egypt, market will be therefore closed, trading to resume on Monday Oct 8th.

Kenya: NSE 20 +0.06%, USD 12.2m

Equity Bank recouped losses made in the previous session due to strong local institutional investor demand. EABL was the top mover accounting for 71% of turnover. The counter has been actively trading in the market through the week with foreign investors being the main drivers. The name lost -1.7% on the day. KCB Bank was up 1.8% to KES 27.97 due to strong foreign investor demand. Foreign players dominated the mkt today, 89.77% of the buys and 84.06% of the sales. Scom closed at KES4.00 which is -1.23% lower for the session on weak vols.

Mauritius: Semdex -0.04%, USD 1.12m

The alsi closed -4bps lower but the SEM-7 managed to make a +0.23% gain buoyed by the only px mover from the SEM -7, MCB which gained +0.62% in the session. Rogers remained flat at Rs308.00 after an active session. The most active name on the day was Alteo investments which closed -0.36% lower at 28.00.

Nigeria: ASI +1.00%, USD 202.99m

The large cross in Dangote Flour that occurred before the market opened was the main focus of the day (transfer from Aliko Dangote to Tiger Brands at N9.50). This accounted for approximately $188mill of the total turnover. Outside of this the market was very thin which meant that moves in stocks were somewhat pronounced. The banking sector (+2.34%) was the biggest beneficiary of this thin liquidity with most of the names trading up from the open. Union Bank rose by 9.93% as the market positively digests the news that the bank repaid its debt to the Central Bank. All tier 1 banks closed in the black for the session with Access Bank (+5.17%) the standout. NB was also an active stock and the name closed up marginally 62bps at N139.05

South Africa: Top 40 +0.41%, USD 1.4bn

The JSE followed world market higher with alsi and Top 40 up +0.41% and +0.43% respectively. The Financials were the outperformers +0.57% with all the other sectors closing around the +0.4% level for the session except for the golds which fell -0.47%. The rand sank against the dollar as a wave of strikes spread beyond the mining sector, threatening the biggest industrial crisis since the end of apartheid. Oil prices rose as traders cheered US data showing better-than-expected private sector hiring and a pick up in the service industry.

Zambia: LuSE +0.14%, USD 197k

The activity was focused in one name, BATZ which accounted for 95% of the activity. The counter was the only name that changed px on the day, leaping +6.38%. The other shares that traded were, Aelz, SCZ, Puma, Zanaco, Zambeef and Zsugar.

Zimbabwe: Industrials +1.23%, Mining +0.43% , USD 955k

Resurgence of the industrial and mining index colors the market whist foreigners dominates buying. The mainstream industrial index closed in the positive buoyed by gains in Delta, Econet and Seed Co as a number of stocks breach 52-week highs. The industrial index was +1.23% firmer breaching the 150point mark at 150.58.pts. Delta surged 2.1% to 83.1c contributing 75% to the markets turnover followed by Econet 5c stronger at 455c and Seed co leaping 2.46% to 91.2c. Value traded jumped to $0.955m from $0.109m recorded yesterday boosted by foreign buys in Delta, Econet and Inscor. The market saw foreigners shy away from offloading any stocks as no foreign sales were recorded. There were 31 active counters of which 14 were risers, 3 losers while 14 traded unchanged. Other notable risers were Innscor (1.83%), PPC (2.13%), BAT (0.45%) and CBZ (2.04%) Construction firm M&R which previously last traded 12 September eased -50% to 2c as buyers shied away from stock post release of results. Rio zim rose 1 c to 61 whilst Falgod and Hwange maintained where they had previously traded therefore culminating to a rise in the mining index by 0.43% closing Thursday’s trade at 93.02points.