Movers & Shakers: October 17, 2012

African Currencies

Botswana: DCI -0.09%, USD 1m

The Gaborone bourse was quiet today in terms of two-way flow but the total value traded was impressive, just over $1m. This was due in most part to the contribution of NAP and to a lesser extent FNBB. Sechaba was the only name in the black +5t to 1560t while BIHL and FNBB were the losers -1t each to close at 1034t and 295t respectively.

Egypt: EGX 30 +1.85%, USD 98m

The market managed to continue with its bullish sentiment from yesterday’s close, the EGX30 ended the day up 1.85% to close at 5,821.06 points. Market volumes improved relative to recent turnovers, market traded a total turnover of USD 98m. OTMT continues to lead the market in terms of volumes and performance, the name accounted for more than 19% of the total turnover as retail investors continue to be aggressive buyer in the name, this is on the back of news that France Telecom to pay € 110 m to OTMT for Mobinil’s contract transfer, the former ended the day up 8.93%. COMI managed to break its 52 week high to trade at high of 39.50 up 4.52%, the stock has been witnessing notable buying mainly from institutional investors leaving the former to end the day up 2.70% to close at EGP38.82. ESRS announced 2Q2012 results with a significant 251% q-o-q surge in net income, beating consensus, mainly on one-off FX gain, the stock witnessed notable buying appetite to end the day up 4.14% to close at EGP10.57.

Investor mix:
•  Foreigners were net Buyers by 61.10 mn EGP and were 13.82% of the market.
•  Egyptians were net Sellers by 62.50 mn EGP and were 75.26% of the market.
•  Arabs were net Buyers by 1.40 mn EGP and were 10.91% of the market.
•  Institutions were net Buyers by 99.21 mn EGP and were 29.26% of the market.
•  Retail were net Sellers by 99.21 mn EGP and were 70.73% of the market.

Kenya: NSE 20 -0.46%, USD 4.59m

Another decent day in Kenya with value traded amounting to $4.59m. EABL was the market leader in terms of activity as a total of 360k shares traded with foreigners accounting for 100% of purchases. Foreigners accounted for the majority of sales in Equity Bank (89%) as a total of 2.96m shares traded in the name. KPLC was rather active as locals dominated trade in the counter with a total of 2.77m shares changing hands. Uchumi released results which saw Net Profit fall 30% with the name falling KES 1.65 on the day as a total of 2.07m shares traded. Foreigners were net buyers and accounted for $2.47m of total purchases while they accounted for $1.50m of total sales. The market closed lower with the NSE 20 Index falling 0.46% to close at 4,014.03.

Mauritius: Semdex +0.05%, USD 2.17m

The semdex traded as +10bps higher before pulling back to close +5bps higher. The activity was dominated by MCB as is often the case, accounting for more than 50% of the vols. There were two winners from the Sem-7 and one faller. The faller was Rogers gain -3.13% while ENL Land and Terra were the gainers +1.01% and +0.8% respectively. Outside the big 7 Omnicane saw strong support adding +1.33% on decent vols.side.

Nigeria: ASI +0.31%, USD 31.6m

The mkt opened weaker today but gradually pulled itself out of the red and into the black – closing +0.31% higher. It was an active session with the total value traded exceeding the $30m mark. The top tier banks was where most of the action was although JBerger and DangC also made significant contributions. The banks were mixed although skewed to the downside, bank10 -0.47%. From the mid-tier names Sterling was the big underperformer -9.6% while FCMB was +7.36better off. The rescued banks traded higher again. The cement sector traded lower but heavyweight DangC traded unch on good vols. As a generalization the consumer names performed well, PZ +5.59%, DangS +10.00% and Nestle +8.8%.

South Africa: Top 40 +0.82%, USD 1.55bn

The JSE ended the day higher with the Top 40 Index gaining 0.82% to close at 33,037 while value traded amounted to USD 1.55bn. Resources were the day's biggest gainers with the Index gaining 1.93% followed by FInancials and Industrials which gained 0.61% and 0.17% respectively. The Rand was trading at 8.59 and 11.28 to the USD and EUR respectively bu the time local markets closed.

Zambia: LuSE -0.001%, USD 29k

Not much went on in Zambia today with value traded amounting to USD 29k. The names that traded included PMDZ, SCZ, ZMBF, ZSUG and ZANACO. SCZ was the biggest contributor towards turnover with value traded in the name amounting to USD 20k. ZANACO was the second biggest contributor towards turnover with value traded in the name amounting to USD 8k.

Zimbabwe: Industrial Index +0.06%, Mining Index -0.91%, USD 3.25m

The Industrial index recovered 0.06% to 154.71points buoyed by gains in heavy caps as Delta, Innscor and OK which hit new all-time highs while Econet edged to a 52-week high. Beverages giant Delta rose 0.17% to 87.65c and is due to release its interims on 7 November, Innscor added 1.30% to close at 78c, Ok rose 3.45% to 15c and Econet added 2.68 cents or 0.55% to 488 cents and is due to release its August interims anytime from next week. Financial stocks were the favorite stocks by volume of activity. Market volume rose five fold to 30.16m from 5.64m boosted by a special bargain of 20m in financial services giant CBZ in a trade worth $2.2m. Barclays was the second most actively traded stocks after 4.3m shares exchanged hands at a steady price of 2.9c. Value traded improved to $3.25m from $0.94m boosted by foreign sales in Barclays and CBZ and purchases in Innscor and Econet. Foreign participation was net sellers by $1.9m with sales amounting to $2.5m against $0.626m in purchases. The mining index eased 0.79points or 0.91% to close at 86.01 points after RIOZIM dropped 3.23% to 60 cents. Bindura, Falgold and Hwange were unchanged at previous trading levels.