Movers & Shakers: October 16, 2012

African Currencies

Botswana: DCI +0.05%, USD 34k

It was a very subdued session in Gaborone today with only 34k worth trading and the market advancing +0.5%. 8 names traded with no price changes recorded.

Egypt: EGX 30 +0.05%, USD 93m

The market managed to end the day slightly higher after trading in reds the entire session, the EGX30 ended the day up 0.05% to close at 5,715.34 points. The market traded average volumes relative to recent market turnover, market traded at total turnover of USD 93m, its worth mentioning that OTMT accounted for more than 15% of total turnover, this came after news that France Telecom to pay € 110 m to OTMT for Mobinil’s contract transfer, the former ended the day up 5.66%. The market started the day with notable selling to reach a low of 5678.25 points lead by notable selling in OCIC, as many investors continue to fear the ongoing investigation regarding the tax issue, the former reached a low of 261 yet by session end the name started to see notable buying appetite to last print at 271.9, the market followed with the same sentiment to end the day in the greens. Names such as COMI and JUFO witnessed notable buying appetite, each ending the day up 0.59% and 3.04%.

Investor mix:
•  Foreigners were net Buyers by 36.80 mn EGP and were 17.80% of the market.
•  Egyptians were net Sellers by 65.96 mn EGP and were 71.28% of the market.
•  Arabs were net Buyers by 29.16 mn EGP and were 10.92% of the market.
•  Institutions were net Buyers by 54.62 mn EGP and were 33.16% of the market.
•  Retail were net Sellers by 54.62 mn EGP and were 66.83% of the market.

Kenya: NSE 20 +0.07%, USD 4.5m

Better day in terms of activity today with value traded amounting to $4.5m. Foreigners dominated purchases in EABL (99%) with a total of 674k shares changing hands in the name thanks to a few large crosses. Foreigners were prevalent on the purchase side of both major banking stocks Kenya Commercial Bank (98% of purchases) and Equity Bank (99% of purchases) as a total of 2.08m and 1.04m shares traded in the names respectively. Foreigners remained net buyers and accounted for $3.27m of total purchases while they accounted for $653k of total sales. The market closed the day higher with the NSE 20 Index gaining 0.07% to close at 4,032.4.

Mauritius: Semdex -0.27%, USD 1m

The Semdex lost -27bps while the Sem-7 lost 0.19% in a session that saw very little excitement. There was only 1 price mover from the Sem-7, Rogers which fell -4.76% on fair vols. MCB was the most active name which was in contrast to the other large bank, SBM which had an extremely quiet session. The hotels in the Sem-7 were flat with NMH the second most active name on the day with foreigners on the buy side.

Nigeria: ASI -0.11%, USD 23.47m

The mkt opened marginally lower and traded around these levels for the whole session – eventually closing -11bps lower. If it weren’t for a +1.27% advance by mkt heavyweight DangC the closing level would have been significantly lower. The top-tier banks traded lower as a generalization with Zenith the outperformer +1.67% and UBA taking a beating -4.96%. The mid-tier banks took a hammering, Diamond -6.25%, Fidelity -5.6%, FCMB -9.94%, Skye -3.53% and Sterling -10.00%. By contrast the rescued banks performed well. The consumer plays were mixed but skewed to the down-side, PZ +3.72%, UACN -4.53%, DangS -8.93%. 17 stocks advanced, 36 declined and 67 remained unchanged. FBN, UBA, Zenith and GTB were the most active names as measured by value traded.

South Africa: Top 40 +0.95%, USD 1.50bn

The JSE ended the day higher with the Top 40 Index gaining 0.95% to close at 32,767 while value traded amounted to USD 1.50bn. Financials were the day's biggest gainers with the Index gaining 1.40% followed by Resources and Industrials which gained 1.11% and 0.66% respectively. The Rand was trading at 8.72 and 11.39 to the USD and EUR respectively by the time local markets closed.

Zambia: LuSE -1.42%, USD 15k

Another dull day in Zambia with value traded amounting to USD 15k. The names that traded included BATZ, CECZ, LAFA, ZAIN, ZSUG and ZANACO. LAFA was the biggest contributor towards turnover with value traded in the name amounting to USD 8k. ZSUG was the second biggest contributor towards turnover with value traded in the name amounting to USD 4k.

Zimbabwe: Industrial Index -0.06%, Mining Index unch, USD 938k

Heavy weight sugar company, Hippo snapped the ZSE rally dragging the industrial index -0.06% lower to 154.62pts. Hippo lost 4.35% or 5c to settle at 110c unsettling the industrial index despite gains in other heavy caps Innscor, AICO, Econet, and Old Mutual. Econet rose 0.06% to 485.32c while Old Mutual recovered 1.85% to 165c. AICO on recovery rose 3.05% to close at 13.5c. A total of nine counters advanced outnumbering four counters that fell. Total turnover declined 29.11% to $938, 000 declining by 29.11% despite a 19.4% improvement in volumes to 5.64m shares. The foreign investors purchase dropped 79% to $209,765 whilst sales improved to $75,411 as compared to none recorded yesterday. The mining index closed flat at 86.80pts as only Rio traded stable at 62c while no trades went through in Bindura, Falgold and Hwange.