Movers & Shakers: October 23, 2012

African Currencies

Botswana: DCI +0.08%, USD 285k

The market was quite active although skewed heavily towards the BIHl which accounted for 94% of the value traded, the name made a 15t gain to end at 1050t. The other stock to make ground was Sefalana +1t to 311t while the only shares to lose value were Barclays and Engen, -4t and -1t to 685t and 615t respectively.

Egypt: EGX 30 -0.37%, USD 62m

The market ended the day in negative territories lead buy notable selling from local institutions, leaving the EGX30 to end the day down 0.37% to close at 5,700.20 points. Market continues to trade weak volumes relative to recent turnovers, the market traded a total turnover of USD 62m. The market started the day with notable selling lead by local investors to reach a low of 5721.50 points, this was mainly attributed the hearing on the dissolution of Constitutional Assembly, around med session the Egypt Constitution Panel Case was referred to Supreme Court. A sense of optimism hit the market following the news regarding the constitution panel case referred to constitutional court, local investors started buying with most stocks rebounding from their lows mainly the real estate sector. As we expected, Investors continue to pressure OCIC down on the back of rising concerns towards the taxation issue, the former ended the day down 1.49% to close at EGP259.33.

Investor mix:
•  Foreigners were net Sellers by 0.979 mn EGP and were 9.36% of the market.
•  Egyptians were net Buyers by 4.40 mn EGP and were 82.79% of the market.
•  Arabs were net Sellers by 3.42 mn EGP and were 7.84% of the market.
•  Institutions were net Sellers by 49.42 mn EGP and were 23.26% of the market.
•  Retail were net Buyers by 49.42 mn EGP and were 76.63% of the market.

PLEASE NOTE THAT THE EGYPTIAN MARKET WILL BE CLOSED FROM THURSDAY 25 OCTOBER TO SUNDAY 28 OCTOBER DUE TO EID CELEBRATIONS.

Kenya: NSE 20 +0.46%, USD 7.60m

Another active day in Nairobi with value traded amounting to a rather pleasing $7.60m. EABL was back at the top in terms of value traded thanks to a few large crosses as a total of 1.4m shares changed hands with foreigners accounting for 99% of purchases and 85% of sales. Foreigners dominated trade in Equity Bank once again (80% of purchases and 96% of sales) as a total of 2.82m shares traded. There was a decent amount of activity in COOP with foreigners accounting for 59% of purchases as a total of 3.11m shares traded. Foreigners were net buyers and accounted for $5.79m of total purchases while they accounted for $4.19m of total sales. The market closed the day higher with the Top 40 Index gaining 0.46% to close at 4,072.50.

Mauritius: Semdex +0.19%, USD 500k

The Mauritian bourse made a healthy gain of +19bps today which was driven by Sem-7 names SBM, ENL Land and Terra which made a +0.6%, +2.24% and +0.25% gains respectively on the day. There were no fallers from the Sem-7. The most active names (from the limited trade that did take place) were NMH, SBM and Terra – in that order.

Nigeria: ASI -0.21%, USD 16.90m

The market opened weaker and carried on in this direction until recovering towards the close, -0.21%, in what was a slow session with only $16.9m. The big banks struggled again today, the only name to trade higher was ETI +2.92% while, GTB, UBA, Zenith and Access all closed in the red. The mid and rescued names saw quite big moves Fidelity +3.3%, Skye -3.76% and Sterling -3.31%. The conglomerates were quiet except for PZ -1.67%. Food names Cadbury -4.99% while DangS and Nestle added +0.88% and +1.98%. 22 stocks advanced, 28 declined and 52 remained unchanged. At the close of trading, the banking sector represented 67.48% of the total market value traded, while the breweries sector represented 9.47%.The highest value of trades were in Zenith, FBN, Nestle and GTB.

PLEASE NOTE THAT THE NIGERIAN MARKET WILL BE CLOSED ON THURSDAY 25 OCTOBER AND FRIDAY 26 OCTOBER FOR EID CELEBRATIONS.

South Africa: Top 40 +0.88%, USD 1.15bn

The JSE ended the day lower with the Top 40 Index falling 0.88% to close at 32,497 while value traded amounted to USD 1.15bn. Resources were the day's biggest losers with the Index falling 1.49% followed by Industrials and Financials which fell 0.55% and 0.40% respectively. The Rand was trading at 8.78 and 11.37 to the USD and EUR respectively by the time local markets closed.

Zambia: LuSE +0.18%, USD 113k

Much better day in Lusaka with value traded amounting to USD 113k thanks to a cross in Zambia Sugar. The names that traded included CEC, SCZ, ZSUG, ZMBF and ZANACO. ZSUG was the biggest contributor towards turnover with value traded in the name amounting to USD 106k. ZANACO was the second biggest contributor towards turnover with value traded in the name amounting to USD 3k. Please note that the market will be closed tomorrow for the Independence Day holiday.

Zimbabwe: Industrial Index -1.08%, Mining Index +1.02%, USD 1.06m

Bears finally outran the bulls as the mainstream index succumbed to profit taking. The main stream industrial index dropped 1.08% to 157.05points weighed down by losses in Delta, Innscor, AICO and OK. Beverages giant Delta lost a further 2.60% or 2.4c to 90c. INNSCOR and OK pared 1c apiece to 80c and 14c respectively while AICO eased 0.66% to 13.51c. There were no gainers among heavy caps stocks. Econet was steady at 491.2c and traded a paltry volume of 278 shares despite strong appetite. The telecoms giant is expected to release its August interims anytime. Seedco, Hippo, Old Mutual all traded unchanged at previous prices. Banking stocks which have consistently underperformed the broad market led the gains with ZBFH rising 12.50% to 9c and NMBZ recovered 7.14% to 0.75c. Barclays and CBZ were steady at 2.9c and 12.01c respectively. Trading activity improved on the back of improved foreign flows. Volume traded stood at 4.79m shares up from 2.56m that traded yesterday. Value traded jumped to $1.06m from $0.210m supported by improved volume in Delta, Innscor and CBZ. Foreign purchases and sales amounted 49% and 22% of traded values respectively. The mining index rose 1.02% to close at 87.51 points supported by a 3.45% gain in Bindura at 3c. RIOZIM traded unchanged at 60c while Falgold and Hwange were bid at 12c and 18c respectively.