Movers & Shakers: September 06, 2012

African Currencies

Botswana:

Data not available at time of writing.

Egypt: EGX 30 +0.58%, USD 109m

The market managed to end the day in positive territory gaining yesterdays losses, leaving the EGX30 to end the day up 0.58% to close at 5,542.75 points. Volumes were within recent market average turnover, market traded a total turnover of EGP662M. Volatility continued throughout the day today in Egyptian blue-chips as institutional investors (international) continue to be net sellers in the market, yet local institutions and local retail investors supported the market to end the day as net-buyers. OCIC lead the market in terms of volumes to end the day up 1.37%, the name witnessed notable buying interest after the release of 2Q2012 result, adding to this the former announced its plans to build a USD1.4bn fertilizer plant in Iowa. PHDC witnessed notable buying interest lead by local retail investors, the name ended the day up 3.19% to close at EGP2.6.

Investor mix:
•  Foreigners were net Sellers by 41.71 mn EGP and were 17.74% of the market.
•  Egyptians were net Buyers by 33.72 mn EGP and were 76.10% of the market.
•  Arabs were net Buyers by 7.99 mn EGP and were 6.16% of the market.
•  Institutions were net Sellers by 38.08 mn EGP and were 27.83% of the market.
•  Retail were net Buyers by 38.08 mn EGP and were 72.16% of the market .

Kenya: NSE 20 -0.24%, USD 5.03m

Another active day in Nairobi although the NSE20 took a dip by 24bps to close at 3,888.14. Foreign participation was very low totaling only 28% of the buys and 37% of the sells while volumes were dominated by 2 illiquid stocks. Equity Bank was the surprise dropper for the day, closing down 4.26% to close at KES22.50. It seemed like the buyers of recent sessions decided to stay away. Somewhat surprisingly, the largest traders were Pan Africa Insurance and Scan Group – normally 2 of the more illiquid names. All this action was local except for the sell side of Scan which was foreign.

Mauritius: Semdex -0.20%, USD 2.21m

Decent activity levels in Mauritius today, $2.21m although it was heavily skewed towards MCB and Rogers. Both names traded sideways MCB at 163.00 and Rogers at 308.00. The only name from the SEM-7 to make a gain was IBL, +0.65% - closing at 78.00. There were three names that fell NMH -1.67% to close at 60.00, ENL Land -1.03% to close at 38.3 and Terra -0.26% to close at 38.8.

Nigeria: ASI +0.85%, USD 16.52m

Much the same in Nigeria as yesterday, with the ASI driven higher by banking stocks (BNK10 +2.04%) although all market sub-sectors closed in the black. After a fairly robust start the market quietened down significantly towards the end of the session. Volumes and market direction were dominated by the banks with buyers happy to pay up to get stock in. The top performing banks were Fidelity (+4.96%), Skye (+4.61%) and Zenith (+3.86%). Consumers also saw the bulls winning with Cadbury and Dangsuga both limit up while Unilever was also strong up 3.4%.

South Africa: Top 40 +2%, USD 1.2bn

The JSE had a really strong day with all sectors up and just two names from the Top40 finishinig in the red. Resources, high beta, outperformed the mkt. The rand also eventually jumped onto the train and gained +1.3%. The golds lept 2.4% following the gold price through the $700 level. The big banks marched along with the market while the smaller lenders struggled. Top40 Best: AMS, AGL, HAR, IPL, SOL, IMP, ARI. Worst: ABL, GRT, BTI, REM

Zambia: LuSE -0.395%, USD 57k

The usual quiet day in Lusaka with under $60k worth trading. 6 names traded on the day CECZ, INVE, NATB, SCBL, ZNCO & ZMFA. CEC accounted for almost all the activity, just under $50k.

Zimbabwe: Industrial Index +031%, Mining Index unch, USD 1.1m

The industrial index remained upbeat recording its eighth successive gain as volumes remained buoyant supported by foreign participation. The industrial index advanced 0.31% to 137.24points during a trading session that was dominated by positive trades. Fast foods giant, Innscor was 3.51% to the good after reporting a 48% jump in bottom-line to $48.5m for the full year ending June. The group reported basic earnings per share of 7.15c up 48% from prior year sweetened by a 1c dividend per share (total dividend 1.75c). Subsidiary group, Colcom rose 4% to 26c spurred by a 3.5% rise in profit to $4.8m. Colcom declared a final dividend of 0.60c bringing the total for the year to 1.13c. Property stocks Dawn and Pearl advanced 5.97% and 3.705 to 0.71c and 2.8c respectively. Profit taking in Delta saw the group ease 1.06% to 75c while TSL and Old Mutual lost 0.37% and 0.26% to 10.86c a nd 156c respectively.
The mining index was unchanged for the 3rd consecutive day at 88.20 points with no trading activity taking place. Bindura was bid at 2.5c, Falgold and Rio were offered at 22c and 60c respectively while Hwange was bid and offer at 20c and 22c respectively. Trading activity remained buoyant though actual volumes were slightly lower than yesterday as a total of 10m shares exchanged hands against 11.1m yesterday. Turnover dropped to $1.1m from $2.5m with foreign activity accounting for 95% of market trades.