Movers & Shakers: October 22, 2012

African Currencies

Botswana: DCI +0.05%, USD 139k

It was an uneventful session in Bots today. The most active names were BIHL, Stanchart, Engen and Sechaba – in that order. Three names changed value Cresta +1t to 90t, Engen +2t to 616t and Barclays -1t to 689t.

Egypt: EGX 30 +0.08%, USD 53m

The market managed to end the day slightly higher after trading in reds at the session open, the EGX30 ended the day up 0.08% to close at 5,721.09 points. The market traded weak volumes relative to recent market turnover, market traded a total turnover of USD 53m. The market started trading with a profit booking sentiment lead by local retail and local institutional investors, it’s worth mentioning that foreign investors trading was static for the first 30min of trading(accounted for less than 4% of the total turnover). After 30min of trading the market started to witness notable buying lead by international investors, lifting the market to reach a high of 5755.43 points(+0.70%), yet local retail continued to pressure the market to end the day at 5716.79 points, this is mainly attributed to the ruling in the constituent assembly case which is expected tomorrow, as many investors are waiting to see to street response to the court hearing. Names such as RAYA, JUFO and ORTE lead the market in terms of performance, each ending the day up 3.84 %,3.26% and 0.81% respectively.

Investor mix:
•  Foreigners were net Buyers by 25.85 mn EGP and were 12.02% of the market.
•  Egyptians were net Sellers by 22.56 mn EGP and were 80.04% of the market.
•  Arabs were net Sellers by 3.29 mn EGP and were 7.94% of the market.
•  Institutions were net Buyers by 14.51 mn EGP and were 22.77% of the market.
•  Retail were net Sellers by 14.51 mn EGP and were 77.22% of the market.

Kenya: NSE 20 +0.49%, USD 6.51m

Very good day to start the trading week with value traded amounting to $6.51m. Foreigners dominated trade in Equity Bank and accounted for 87% of sales and 64% of purchases in the name as a total of 6.03m shares traded. Kenya Commercial Bank was also very active as a total of 4.44m shares changed hands with foreigners accounting for $93% of purchases. There was a large cross early on in EABL with the buyer being foreign as a total of 430k shares traded over the day. Foreigners were net buyers and accounted for $4.49m of total purchases while they accounted for $1.84m of total sales. The market closed the day higher with the NSE 20 Index gaining 0.49% to close at 4,053.79.

Mauritius: Semdex -0.01%, USD 1.17m

The market in Mauritius had a subdued day with very little activity outside of MCB. MCB is usually the most active name and today was no exception, the stock accounted for 80% of all activity. MCB traded flat, as did all the SEM-7 names. Outside of the SEM-7 the hotel names, Sun Resorts and Lux Island Resorts were the reason that the market experienced a marginal loss today, losing -0.37% and -1.3% respectively.

Nigeria: ASI -0.09%, USD 16.89m

The market opened slightly lower and traded around this level for the whole session before closing -9bps lower than it opened the session in what turned out to be a quiet session, $16.89m. The banks, from all three tiers had a hard time today, most notably UBA which lost -3.26%. Zenith bank was however a standout performer +1.1% after releasing results Q3 numbers Gross Earnings: +25.18%, PBT: 41.42% and PAT: 51.92%. Outside the banks Flourmills and Cadbury made decent gains +0.74% and +3.81% respectively. 21 stocks advanced, 26 declined and 52 remained unchanged. The highest value of trades were in ETI, Zenith, FBN, GTB and NB.

South Africa: Top 40 +0.54%, USD 1.04bn

The JSE ended the day higher with the Top 40 Index gaining 0.54% to close at 32,784 while value traded amounted to USD 1.04bn. Financials were the day's biggest gainers with the Index gaining 0.87% followed by Industrials which gained 0.74% while Resources fell 0.03%. The Rand was trading at 8.62 and 11.26 to the USD and EUR respectively by the time local markets closed.

Zambia: LuSE -0.47%, USD 4k

Exceptionally quiet day in Zambia today with value traded amounting to a paltry USD 4k. The names that traded included CEC, SCZ, ZSUG, ZANACO and ZMBF. ZANACO was the biggest contributor towards turnover with value traded in the name amounting to USD 3.6k. CEC was the second biggest contributor towards turnover with value traded in the name amounting to USD 199.

Zimbabwe: Industrial Index +0.11%, Mining Index unch, USD 210k

The industrial index forged ahead rising 0.11% in week opening trades helped by gains in Innscor, Hippo, PPC and Old Mutual despite losses in Delta and Meikles. Value traded declined 91% to paltry $0.210m as the session recorded minimal foreign participation. Delta pared 0.65% to 92.4c as the market question the sustainability of the recent rally. The beverages giant is expected to report its September interims on the 7th of November. Innscor advanced 1% to 81c as appetite for shares in the fast foods giant remain firm, Hippo recovered 4.45% to 115c as it continues to oscillate between 110c and 120c, and Econet added a marginal 0.04% to 491.2c albeit on thin volumes ahead of their September interims while PPC was 2.08% firmer at 245c. Old Mutual picked 1.21% to 167c despite going ex-div today. Notable fallers were Meikles (2.94%), NMBZ (6.67%) and Lifestyle (9.09%). The mining index was unchanged at 86.63 points. Bindura and Rio were unchanged at previous trading levels while Falgold and Hwange recorded no trades.