Movers & Shakers: October 11, 2012

African Currencies

Botswana: Data not available.

Egypt: EGX 30 -0.28%, USD 84m

The market ended the day in negative territories lead by institutional investors selling, the EGX30 ended the day down 0.28% to close at 5739.02 points. Market to continues to trade average volumes relative to recent turnovers, market traded a total turnover of EGP515mil. Volatility continued throughout the day today in Egyptian blue-chips as international investors along with local institutional investors continue to decrease their exposure the market, yet local retail investors and GCC investors continue to be net buyers at these levels. Names such as OCDI, CCAP and JUFO managed to trade against the general sentiment, each ending the day up 3.32%, 2.46% and 2.44% respectively. OCIC didn’t not manage to continue with its bullish momentum gained yesterdays at close, the name witnessed notable selling pressure to reach a low of 275.12(-1.72%) after trading at 282 (+2.49) at session open, the former ended the day down 1.00%.

Investor mix:
•  Foreigners were net Sellers by 14.00 mn EGP and were 8.53% of the market.
•  Egyptians were net Buyers by 1.33 mn EGP and were 87.71% of the market.
•  Arabs were net Buyers by 12.67 mn EGP and were 3.76% of the market.
•  Institutions were net Buyers by 16.65 mn EGP and were 14.36% of the market.
•  Retail were net Sellers by 16.65 mn EGP and were 85.63% of the market.

Kenya: NSE 20 +0.35%, USD 4.57m

Another active day in Kenya with foreign investors once again driving the buy side of the market. EABL saw some large crosses going through with foreigners dominating both sides of the name as the name closed up 2.17% at KES235. Equity Bank was also active with foreign buying evident as the name closed up 1.09% at KES23.25. Bamburi Cement, Safcom and Scangroup also saw some decent activity.

Mauritius: Semdex -0.13%, USD 1.62m

It was a much quieter day in Mauritius than yesterday but nevertheless the activity was a respectable $1.62m. MCB was again the most active name accounting for more than 2/3 of the activity, trading unch at 163.00. There were only two px movers in the session, both down, NMH lost -0.88% closing at 57.00 and Rogers eased -0.34% to close at 295.00.

Nigeria: ASI +1.35%, USD 30.39m

A very active day in Nigeria as volumes broke through the $30m level. The banking sector was on fire yet again (BNK10 +3.01%) with every name in the sector closing in the black. The sector also dominated turnover. The top performing names were Diamond Bank (+9.84%) and FCMB (+6.41%) while IBTCCB, ETI, UBA, Skye Bank and Sterling all recorded gains of almost 5%. Nigerian Breweries has a very strong trading day with $3mill exchanging hands and the name closing up 1.59% at N141. Dangote Flour released their 2012 H1 numbers which at first glance seems poor. The market certainly viewed it as negative closing down 1.2% at N8.20.

South Africa: Top 40 +1.07%, USD 1.51bn

The JSE ended the day higher with the Top 40 Index gaining 1.07% to close at 32,352 while value traded amounted to USD 1.51bn. Industrials were the day's biggest gainers with the Index gaining 1.17% followed by Financials and Resources which gained 0.92% and 0.89% respectively. The Rand was trading at 8.70 and 11.25 to the USD and EUR respectively by the time local markets closed.

Zambia: LuSE -0.04%, USD 40k

Relatively quiet day with value traded amounting to USD 40k thanks to a cross in SCZ. The names that traded included AELZ, SCZ, ZAIN and ZSUG. SCZ was the biggest contributor towards turnover with value traded in the name amounting to USD 36k. AELZ was the second biggest contributor towards turnover with value traded in the name amounting to USD 2k.

Zimbabwe: Industrial Index +0.23%, Mining Index +0.71%, USD 786k

The industrial index traded firm for the umpteenth time rising +0.23% to close the day at 154.05pts. Heavy caps stocks that helped the industrial higher were Innscor which put on an impressive 1.47% (1.09c) to another all-time high of 75.1c, Econet rose 5.01c to 480.01c. The market might have to wait much longer for the telecoms giant’s August interims after the analyst briefing scheduled for today was postponed to a later date. The value of trades declined 45.68% at $0.786m despite a 140% rise in volumes of shares traded to 9.72m from the thirty nine active stocks banking group Barclays which was steady at 2.8c contributed 51% of market volumes while Innscor was the most liquid stock by value accounting for 27% of the markets value from 256 106 shares. Barclays, Econet and Delta each contributed 21%, 20% and 12% respectively. Foreign interest remains high though in numbers dropped in absolute numbers to $0.236m after a 41% drop in volumes. The mining index rose 0.71% to 87.48pts on gain in Hwange. The Coal miner was 2.9% higher at 18c, Bndura was steady at 2.8c while the Falgold and Rio recorded no trades.