Movers & Shakers: October 10, 2012

African Currencies

Botswana: DCI +0.03%, USD 362k

The value traded was relative high today – thanks in the main to Sechaba. The name accounted for 65% of the value traded and added 5t to the price it began the day at to close at 1555t. There were only two other px movers, Chobe and Letshego. Chobe added +5t to 265t while Letshego gained +5t to close at 145t.

Egypt: EGX 30 +3.39%, USD 94m

The market witnessed a notable rally lead by notable GCC investors buying, leaving the EGX30 to end the day up 3.39% to close at 5,755.40points. Market to continues to trade average volumes relative to recent turnovers, market traded a total turnover of USD 94m. The bullish momentum managed to continue after yesterdays strong close following the news out on HRHO-QInvest deal, adding to that investors shifting their perception that no retroactive capital gains taxes would be accrued coupled now with the release sent to EGX from OCIC stating that the company hasn't disobeyed any tax laws and doesn't expect any retroactive taxes to be implemented regarding the listed companies acquired cause by law it's exempted from taxes, the stock was lifted up 3.21% to close at 280.29(+2.59%), it’s worth mentioning that announced today that it was awarded USD 87mn Airfie ld Contract in Egypt. TMGH managed to regain earlier losses, the name witnessed notable pressure earlier this week after the president made a negative remarks during his speech regarding the land dispute, the former ended the day today up 6.35% to close at 4.86 on strong volumes.

Investor mix:
•  Foreigners were net Buyers by 5.17 mn EGP and were 13.40% of the market.
•  Egyptians were net Sellers by 43.86 mn EGP and were 77.95% of the market.
•  Arabs were net Buyers by 38.68 mn EGP and were 8.65% of the market.
•  Institutions were net Buyers by 42.12 mn EGP and were 46.02% of the market.
•  Retail were net Sellers by 42.12 mn EGP and were 53.97% of the market.

Kenya: NSE 20 -0.01%, USD 4.40m

Another decent day in Nairobi with value traded amounting to $4.40m. There were a few large crosses in Equity Bank as locals dominated trade in the name with a total of 5.19m shares traded. Foreigners dominated purchases (83%) in Kenya Commercial Bank as a total of 1.72m shares traded. Safcom was rather active with foreigners accounting for 99% of total purchases as a total of 11.68m shares changed hands in the name. Foreigners were net buyers and accounted for $2.37m of total purchases while they accounted for $720k of total sales. The market closed the day slightly lower with the NSE 20 Index falling 0.01% to close at 3,982.94.

Mauritius: Semdex +0.10%, USD 5.9m

Huge day in Mauritius today – almost $6m worth passing through. The main reason behind it was big vols going through in MSM, a stationery manufacturing company, accounting for 63% of the value traded. MCB also had an active day – trading flat at 163.00. There were no fallers in the SEM-7, only 2 winners, ENL Land and Rogers +1.52% and +0.34% respectively.

Nigeria: ASI +0.62%, USD 25.16m

It was much the same story as yesterday’s session with the mkt opening stronger and continuing in this vein for most of the session although there was a bit of a pullback towards the end of the session. The mkt eventually closed +62bps better off with a respectable $25m trading. The top-tier banks had a mixed session with FBN, GTB and Access closing in the red while UBA, Zenith and ETI closed in the black. UBA was the standout performer +4.87%. The mid-tier names however had a stellar day, Diamond +9.83%, Fidelity +7.14%, FCMB +8.79%, Sterling +9.88%. The cement sector had a good session although mkt heavyweight DangC traded unch at 118.5. The consumer plays were mixed although it is worth noting that DangS added +9.91%. 37 stocks advanced, 20 declined and 58 remained unchanged. The highest traded names were the usual suspects FBN, Access, Zenith and NB.

South Africa: Top 40 +0.21%, USD 1.80bn

The JSE ended the day higher with the Top 40 Index gaining 0.21% to close at 32,008 while value traded amounted to USD 1.80bn. Industrials were the day's biggest gainers with the Index gaining 0.53% followed by Financials which rallied 0.25% while Resources fell 0.23%. The Rand was trading at 8.69 and 11.27 to the USD and EUR respectively by the time local markets closed.

Zambia: LuSE -0.13%, USD 15k

Very quiet day today with value traded amounting to USD 15k. The names that traded included BATZ, CECZ, LAFA, SCZ, ZSUG. CECZ was the biggest contributor towards turnover with value traded in the name amounting to USD 8k. LAFA was the second biggest contributor towards turnover with value traded in the name amounting to USD 3k.

Zimbabwe: Industrial Index +1.06%, Mining Index -1.47%, USD 1.4m

Mainstream index was +1.06% firmer at 153.7pts in mid-week trades in a firm trading session. Diversified group, Meikles led the gainers with a +14.29% surge at 20c. Delta advanced a marginal 0.02c to 85.03c while Seedco gained 2c to 95c. In banking, Cbz was the favorite counter of the day after 0.867m units exchanged hands at 10.61c which was 6.10% higher than previous trade. Econet traded a good volume of 200 697 at steady price of 475c. Total turnover rose 160% to $1.448m supported by a block of 200 000 Econet shares despite overall volumes going down 46% to 4m shares. Inflows from the foreigners contributed 68% of the value traded. The mining index took a negative turn easing -1.47% to 86.86pts after Bindura slumped 6.35% to 2.8c despite 1 c gain in Rio at 66c. Hwange closed with no trades happening.