Movers & Shakers: October 31, 2012

African Currencies

Botswana: DCI +0.38%, USD 505k

There was a vast improvement in activity levels in Bots today, with more than $500k worth trading and strangely enough 90% of the activity was not accounted for by a single stock. The most active names in order were FSG, FNBB, ABCH and Choppies. Two counters advanced while five names retreated. The names in black were FNBB +6t to 295t and Letshego added +7t to 167t. The 5 stocks to close in the red were Barclays 674t, Cresta 89t, FSG 135t, Letlole 15t and RDCP 695t.

Egypt: EGX 30 -1.25%, USD 66m

The market continued to trade with a negative sentiment today lead notable selling from selling from GCC investors and local institutions, the EGX30 ended the day down 1.25% to close at 5,695.93 points. Market continues to trade weak volumes, market traded a total turnover of USD 66m. The market continues to witness notable selling pressure; this is mainly attributed to uncertainty surrounding the IMF loan size and approval, causing an overhang on the country's economic recovery considering as grants from Europe and the US are frozen pending the signing of the IMF loan. Adding to that, yesterday's court ruling voiding Centamin's Sukari gold mine clearly had a negative impact on the market, on rising concerns towards similar future court decisions, its worth mentioning that international institutions ended the day as net-buyer. OCIC continues to witness notable selling as many investors concerns grow on the ongoing tax issue, the former ended the day down 1.91% yto close at EGP258.21. The real-estate sector stocks were notably hit, names such as AMER, OCDI and TMGH witnessed notable selling each ending the day down 2.70%, 2.61% and 2.59% respectively

Investor mix:
•  Foreigners were net Sellers by 7.28 mn EGP and were 15.28% of the market.
•  Egyptians were net Sellers by 8.08 mn EGP and were 78.00% of the market.
•  Arabs were net Buyers by 15.36 mn EGP and were 6.72% of the market.
•  Institutions were net Buyers by 8.45 mn EGP and were 22.28% of the market.
•  Retail were net Sellers by 8.45 mn EGP and were 77.71% of the market.

Kenya: NSE20 +0.10%, USD 5.90m

Acivity slowed down after yesterday but was still rather robust with value traded amounting to $5.90m. Kenya Commercial Bank dominated acivity in terms of value traded with a total of 4.7m shares changing hands thanks to a few large crosses as foreigners accounted for 75% of purchases. Kenya Power was surprisingly active as locals dominated activity in the name with a total of 3.7m shares traded. BAT was relatively active thanks to a cross that went through early on with foreigners accounting for 94% of purchases as a total of 135k shares traded. Foreiner buyers and sellers were even pegged and accounted for $3.79m of total purchases and sales. The market closed the day higher with the NSE 20 Index gaining 0.10% to close at 4,147.28.

Mauritius: Semdex +0.08%, USD 1.87m

It was a rather dull session in Mauritius today, the index added +8bps with $1.87m worth trading. MCB dominated the activity as is usually the case in the Sem-7. The only big-7 name to add value was Bramer Banking Corp +5.33% while NMH and Terra lost ground -1.83% and -0.26% respectively the two fallers were the 2 nd and 3 rd biggest contributors towards value traded. However, most of the activity took place outside of the Sem -7, finance house CFS lost -3.64% on significant vols, Sugar company Omnicane traded unch on large vols and Industrial player PBL traded flat at 201.00 but accounted for 40% of the mkt activity.

Nigeria: ASI -1.15%, USD 14.21m

The market opened flat, traded marginally higher for a while before heading south. It was a dull session in Lagos with the market falling over a percent and little conviction prevalent as evidenced by the low activity levels, $14.21m. The bigger banks struggled today although Access was an exception to this generalization +2.3% while UBA was the hardest hit -4.58%. The BNK10 closed -0.47% lower. Outside of the banks it wasn’t pretty either, the two names that managed to close better off than when the mkt opened were Ashakace and Guinness +1.4% and +0.16% respectively. Cadbury eased -3.41%, Nestle fell -2.1%, NB plummeted -6.77%. 15 stocks advanced, 39 declined and 56 remained unchanged. The highest value of trades were in FBN, ETI, Access, NB and Zenith. Cadbury released Q3 2012 numbers today, Rev -2.39%, PBT +32.11%, PBT +32.11% and PAT +33.33%.

South Africa: Top 40 +0.02%, USD 1.40bn

The JSE ended the day slightly higher with the Top 40 Index gaining 0.02% to close at 33,008 while value traded amouted to USD 1.40bn. Resources were the day's biggest gainers with the Index gaining 0.07% followed by Industrials which gained 0.03% while Financials fell 0.26%. The Rand was trading at 8.69 and 11.27 to the USD and EUR respectively by the time local markets closed.

Zambia: LuSE -0.38%, USD 13k

Another quiet day with value traded amounting to USD 13k. The names that traded included CEC, SCZ, ZAIN and ZANACO. CEC was the biggest contributor towards turnover with value traded in the name amounting to USD 8k. ZAIN was the second biggest contributor towards turnover with value traded in the name amounting to USD 4k.

Zimbabwe: Industrial Index +0.58%, Mining Index +0.42%, USD 3.06m

The month of October closed on a good note amid heavy foreign purchasing in Delta and Econet for the second trading session. Renascent demand at month-end saw both indices close the month firmer as the Industrial index put on +0.58% to 154.47pts while the mining index was 0.42% firmer at 93.66pts. Total turnover however declined 30% but remained above the 3m mark at $3.06m from 11.35m shares with Delta and Econet accounting for 94% of the day’s trades. Econet remained resilient to close at 480c where 543,929 shares were transacted. Delta rose +2.73% to 90c on solid foreign interest. Three special bargains colored this month namely 10m pearl,20m CBZ done on the 12th an 17th .The value of trades for October swelled to 37,86m from 30.23m last month. Foreign investors came in to purchase stock worth 23.7m whilst disposing of 9.8m within the 31 day period. The market volume for the month stands at 204.49 m dipping against September’s 278.78m shares. Banking stocks dominated gains as the duo of ABC and FBC added +1.96% and +1.81% respectively to close at 52c and 7.33c respectively. Inscor continued to recede closing the trade at 73.99c having slipped 0.01%. The resources sector continued to enhance despite shallow trades during the session. Bindura was the only counter to trade at a maintained 2.99c on a volume of 18,237. Falgold was offered at 20c and RIOZIM bid at 65c.