Movers & Shakers: October 14, 2014

Botswana: DCI unch, USD 1.14m

A better day in Gaborone thanks to crosses in Letlole (2.51m shares) and Letshego (1.77m shares) as total value traded amounted to USD 1.14m.

Egypt: EGX 30 -2.60%

The EGX came under fire today as the index broke the psychological 9,000 level to close at 8,878.19, down 2.60%. Recently outperforming real estate stocks took the biggest beating, with TMGH down 4.79%, HELI 6.17%, PHDC 3.72%, and MNHD 4.12%. Not sure what to call the bottom as retail investors offload and some margin calls are triggered. The index proxy COMI dropped 2.13% with key support at EGP45.00. The name ended at EGP45.99. ESRS was one of the very few to outperform, rising 3.41% as the government announced that it would impose a 7.3%/ton fee on imported steel rebar for 200 days. The move follows complaints from local producers about the increase in the products' import. SUGR has been outperforming all week as it looks like investors are taking a liking to the name with 338,000 shares changing hands today.

Kenya: NSE 20 +0.35%, USD 7.9m

A quiet day in Nairobi with local investors reverting back to being the bulk of the volumes. The two most active stocks were the banks. Equity Bank closed unchanged at KES48.75; buying was entirely local while selling was mostly foreign. KNCB closed up 90bps at KES 58.00 with foreign buying pushing the name higher. Safcom ended the day down 90bps at KES12.65 while Co-op Bank saw some foreign trading as it closed at KES21.75.

Mauritius: Semdex -0.02%, USD 1.53m

A relatively active day in Port Louis as turnover amounted to USD 1.53m. Activity in the likes of NMH (137k shares), SBM (8.68m shares) and Gamma Civic (161k shares) boosted turnover. A very quiet day in MCBG as a paltry 460 shares traded.

Nigeria : ASI -0.92%, USD 29.2m

A tough day in Lagos as the selling continued across most of the market. Banks lost -2.3% during the day as the selling of Tier 1 names continued in full force names like FBNH (-4.36%, N12.06), UBA (-4.85%, N5.88) and Zenith (-4.98%, N21.38) particularly hit. The sector wasnt helped by the news of London Mining going into administration. Consumers didnt fare much better as they closed 1.99% lower. The biggest losers were NB (-2.79%, N174), Intbrew (-1.49%, N31), Nestle (-2.15%, N1000), Unilever (-4.46%, N45.85) and UACN (-3.03%, N56).

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

Zimbabwe: Industrials +0.23%, USD 2.52m

A much better day in Harare as turnover amounted to USD 2.52m thanks mostly to a large cross in Econet ($1.92m) while there was some action in DZL ($400k). The market closed the day higher with the Industrial Index gaining +0.23%.

African Currencies

Country

Notation

Currency

YTD %

South Africa

ZAR

11.06

-5.14

Nigeria

NGN

164.18

-2.36

Kenya

KES

89.20

-3.25

Mauritius

MUR

31.43

-4.39

Botswana

BWP

9.13

-4.59

Tanzania

TZS

1685.00

-5.64

Uganda

UGX

2685.00

-5.88

Rwanda

RWF

690.50

-2.10

Ghana

GHS

3.19

-25.76

BRVM

XOF

520.40

-7.73

Egypt

EGP

7.14

-2.79

Morocco

MAD

8.74

-6.40

Tunisia

TND

1.80

-8.79
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