Movers & Shakers: September 10, 2012

African Currencies

Botswana: DCI -0.02%, USD 332k

It was a relatively active day in Bots today, if calculated by value traded. As is generally the case, Letshego was the main contributor, 60% of the value traded at an unch price of 140. Letlole and Primetime also had quite an active day 135 (-5t) and 195 respectively. Letlole was the only price change on the day.

Egypt: EGX 30 +0.65%, USD 124m

The market managed to end the day in positive territory, leaving the EGX30 to end the day up 0.65% to close at 5.605.84 points. Volumes were within recent market average turnover, market traded a total turnover of USD 124M. Volatility continued throughout the day today in Egyptian blue-chips as institutional investors (international) continue to be net sellers in the market along with local retail investors, yet local and GCC institutions supported the market end the day as net-buyers. OCIC lead the market in terms of volumes to end the day up 1.01%, the name witnessed notable buying after it announced that the Egyptian investment authority GAFI has approved the method OCIC plans to use to value its business lines before splitting them into two companies. Names such as OCDI, ESRS and COMI witnessed notable buying apatite, each ended the day up 4.64%, 3.42% and 2.08% respectively.

Investor mix:
•  Foreigners were net Sellers by 11.69 mn EGP and were 19.71% of the market.
•  Egyptians were net Buyers by 31.39 mn EGP and were 71.40% of the market.
•  Arabs were net Sellers by 19.70 mn EGP and were 8.88% of the market.
•  Institutions were net Buyers by 38.32 mn EGP and were 31.51% of the market.
•  Retail were net Sellers by 38.32 mn EGP and were 68.48% of the market.

Kenya: NSE 20 -1.01%, USD 18.60m

Extremely active day in Nairobi to start the week with value traded amounting to a very impressive $18.60m thanks to a large cross of 5m EABL at 225 where the buyer was foreign while the seller was local, a total of 5.91m shares traded in the name. There was a fair amount of activity in Kenya Commercial Bank with a total of 1.73m shares traded in the counter as foreigners accounted for 97% of purchases while they accounted for 29% of sales. There was a large cross in BATK with both the buyer and the seller being foreign as a total of 100k shares traded. Foreigners were net buyers and accounted for $17.15m of total purchases while they accounted for $1.32m of total sales. The market closed the day lower with the NSE 20 Index falling 1.01% to close at 3,860.41.

Mauritius: Semdex -0.05%, USD 688k

A very slow day in Mauritius today with less than $700k trading. Two unusual names topped the value traded chart, thanks to crosses, being the conglomerate Rogers and Harel Mallac. Rogers managed to gain +0.65% while Harell Mallac fell -2.22%. The two big banks MCB and SBM were very quiet trading sideways 163.00 and 82.00 respectively. From the hotels the only mover was Lux Islands which gave up -0.6%.

Nigeria: ASI -0.67%, USD 13.4m

The Lagos bourse opened stronger but pulled back quickly with lots of the bigger names experiencing a strong pullback. The bank10 lost -1.23%, the biggest losers include UBA -4.95%, ETI -3.74%, Zenith -2.81% and GTB -1.3%. The middle tier banks did not suffer as badly as the top tier names, closing mixed. Mkt heavy weight Dangote Cement lost -1.69%, this is a huge drag on the mkt given that is account for almost 30% of the index. The consumer plays struggled as a generalization, Flourmills -2.73%, Cadbury -5.00%, DangS lost -4.81% with Nestle the noticeable exception +5.00%. 23 stocks advanced, 24 declined and 55 remained unchanged. The highest value of trades were in Zenith, FBN, GTB, Nestle and Access.

South Africa: Top 40 -0.59%, USD 1.73bn

The JSE ended the day lower with the Top 40 Index falling 0.59% to close at 31,343 while value traded amounted to USD 1.73bn. Financials were the day's biggest losers with the Index falling 1.68% followed by Industrials which fell 0.93% while Resources gained 0.95%. The Rand was trading at 8.13 and 10.43 to the USD and EUR respectively by the time local markets closed.

Zambia: LuSE -0.18%, USD 16k

Quiet day in Lusaka with value traded amounting to USD 16k. The names that traded included CECZ, REIZ, SCBL, ZABR, ZNCO and ZSUG. SCBL was the biggest contributor towards turnover with value traded in the name amounting to USD 5k. ZNCO was the second biggest contributor towards turnover with value traded in the name amounting to USD 3k.

Zimbabwe: Industrial Index +0.26%, Mining Index -0.70, USD 1.1m

The industrial index entered a third week of successive gains spurred by further gains in blue chip stocks. The industrial index gained 0.26% to 137.59points after old Mutual pushed 2.56% to 160c, DZL rose 5.23% to 16.31c and BAT added 3.03% to 340c. CFI was 10% up at 5.5c while Colcom rose 3.88% to 27.01c spurred by demand from dividend conscious investors. Trading in the negative was Fidelity which eased 3.70c to 13c. The life assurer is expected to release its June interims anytime from now. African sun pared 11% to 0.8c, Barclays eased 3.23% to 3c and Edgars gave up 1.32% to 7.5c. Turnover doubled to $1.1m from $0.563m spurred by block trades of 1.2m shares in Delta despite a 24% drop on overall volumes at 3.6m shares. Delta remains the most liquid stock accounting for the lion’s share of trades. Foreign participation accounted for 65% of purchases and 24% of sales. The mining index opened the week in the red easing 0.70% to 87.58points after Bindura lost 16.39% to 2.5c on a paltry volume of 313 shares. There were no trades in Falgold, Hwange and Rio as trading activity in this sector remains sketchy.