Movers & Shakers: September 04, 2013

Botswana: DCI +0.08%, USD 1.97m

Another relatively decent day in Gaborone as a cross in Choppies (5m shares) accounted for 89% of turnover with value traded amounting to USD 1.97m. The rest of the market was rather quiet.

Egypt: EGX 30 -0.12%, USD 41m

The traded the day with a mixed fashion with notable volatility, leaving the EGX30 to end the day down 0.12% to close at points. The market continues to trade very weak volumes yet an improvement relative to recent turnovers, the market traded a total turnover of USD 41m. the market to continue showing weakness over-hanged by the geopolitical unrest as the U.S senate votes on military action and leading senators supporting a limited strike on Syria. Local retail with GCC retail investors ended the day as net sellers along with international institutions targeting names such as TMGH, PHDC and SKPC leaving each to end the day down 2.09%, 1.83% and 1.02% respectively, yet local institutions along GCC institutions ended the day as net-buyers targeting names such as ACGC, OTMT and HRHO, leaving each to end the day up 3.48%, 1.82% and 1.64% respectively.

Kenya: NSE 20 +0.25%, USD 5.3m

Activity increased in Nairobi with value traded amounting to $5.3m. EABL drove activity with a few crosses in the counter as locals dominated proceedings in the name. There was a cross of 3m Equity Bank relatively early in the session which got things going as trading in the name was also dominated by locals. Foreigners are still sitting on their hands with regards to trading in Kenya as foreign participation for the day only accounted for 32.8% of turnover. Mumias Sugar (+1.4%) managed to bounce back a bit after posting dissapointing FY 2013 numbers yesterday. The Central Bank held the benchmark rate unchanged at 8.5% at it's policy meeting yesterday afternoon.

Mauritius: Semdex +0.32%, USD 889k

Activity slowed down quite drastically today in Port Louis with value traded amounting to USD 889k. SBM accounted for 47% of turnover today as foreigners sold stock in the bank to the value of Rs12.1m with the counter closing flat at Rs1.05. MCB on the other hand was rather quiet as 32k shares changed hands, and also closed the day unchanged.

Nigeria: NSE 20 +0.01%, USD 19.01m

It was a better day in Lagos in terms of activity with value traded amoutning to $19.01m. Turnover was however still dominated by block trading as here were a few big crosses in Dangote Cement with a total of 4.99m shares changing hands. There was some decent two-way flow in Guaranty Trust Bank ($3.27m) as the counter closed 0.80% higher at 25.10 after going ex-div yesterday. Consumer stocks (-0.34%) weighed on the market with the likes of Cadburys falling -1.96% while Nigerian Breweries fell -1.71%. Banking stocks (+0.52%) managed to close on the front foot thanks to UBA (+2.04%) and tier-two banking stocks which rallied for the most part.

Please note that the index figure above is correct at the time of writing.

South Africa: Top 40 -0.90%, USD 1.12bn

The JSE ended the day lower with the Top 40 Index falling 0.90% to close at 38,166 while value traded amounted to USD 1.12bn. Industrials were the day's biggest losers with the Index falling 1.06% followed by Financials and Resources which fell 0.99% and 0.64% respectively. The Rand was trading at 10.22 and 13.49 to the USD and EUR respectively by the time local markets closed.

Zimbabwe: Industrials +0.16%, Mining +0.10%, USD 3.11m

The ZSE recovered by a marginal 0.16% to 177.6pts on the back of an equally marginal increase of 0.11% in Delta to 105.02c among other top cap gains . Delta’s gain marks a second attempt on recovery since the freefall that started August the 5th. The mining index added 0.1% to 48.78pts on an improved bid of 1.95c in Bindura; the recovery was against a background of reviewing of listing rules by the ZSE which is meant to enhance clarity and ensure a detailed framework of listing rules. The reviews will mainly centre around corporate governance issues. The regulator SEC however says its working on modalities to protect minority shareholders. Value traded continued to firm adding 187% to $3.11m augured by a block trade in Delta worth circa $1.4m as Econet followed with 24% contribution to the same cause.

African Currencies