Movers & Shakers: September 10, 2013

Botswana: DCI unch, USD 2.09m

A cross in Choppies (4.92m shares) accounted for 83% of today's turnover with total value traded amounting to USD 2.09m with the rest of the market extremely quiet.

Egypt: EGX 30 +3.11%, USD 88m

Finally the market managed to regain its bullish trend leaving the EGX30 to end the day up 3.11% to close at 5,408.22 points. Market volumes significantly improved to trade one of the highest volumes YTD, the market traded a total turnover of USD 88m. US congress delayed the vote for Syria which created a big doubt on the option of war adding to this the Syrian FM stated at Syria that they accepted Russia's proposal to act as an intermediary in the handover of Syria's chemical weapons, the market witnessed a notable rally along with all regional market, Local retail investors were notable buyers today targeting names such as ACGC(+7.11%), SVCE(6.11%), EIUD(+5.61%), names such as ESRS(+4.19%), JUFO(4.17%) and COMI(+3.14%) witnessed notable interest from local institutions. It’s worth mentioning the real-estate sector witnessed a strong come back after witnessing pressure over the last couple of weeks, names such as PHDC, TMGH and OCDI managed to end the day up 5.07%, 4.88% and 2.79% respectively.

Kenya: NSE 20 unch, USD 2.4m

Activity ground to a near halt in Nairobi with value traded amounting to $2.4m. Safcom (+0.60%) and EABL (+1.4%) accounted for over 50% of today's turnover and were the only names worth mentioning as foreign demand continued to push the counters higher. Scan Group was the day’s top loser slipping 3.2% to KES 60, as the name continues to come under pressure after releasing dissapointing H1 2013 results last month.

Mauritius: Market closed for the day.

Nigeria: NSE 20 -0.70%, USD 10.37m

It was an absolute dire day in Lagos with value traded amounting to a very pedestrian $10.37m. There was a cross of 2.78m Glaxo Smith Kline at N65.00 which tried to get things going, but this could unfortunately not spill over to the rest of the market. There was also a cross in the usually very illiquid Abbey Buildings of 50m shares at N1.65. Guaranty Trust Bank was the only name with some steady trading over the day as a total of 13.12m shares traded in the counter. Banks (-0.97%) ended the day lower with Diamond Bank (-3.13%) being a major drag on the sector. Consumers (-0.78%) were also weaker thanks to the likes of PZ Cussons (-6.02%) and Glaxo Smith Kline (-4.76%).

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

South Africa: Top 40 +2.04%, USD 1.76bn

The JSE ended the day higher with the Top 40 Index gaining 2.04% to close at 39,087 while value traded amounted to USD 1.76bn. Industrials were the day's biggest gainers with the Index gaining 2.30% followed by Resources and Financials which gained 1.82% and 1.22% respectively. The Rand was trading at 10.01 and 13.28 to the USD and EUR respectively by the time local markets closed.

Zimbabwe: Industrials +0.58%, Mining +0.83%, USD 2.24m

Increased demand in selected heavy cap stocks assisted the ZSE industrials to extend gains by 0.58% to 185.89pts. The trio of Econet, OK and BAT which added 3% to 51.51c, 4.52% to 21.99c and 0.11% to 901c respectively, anchored the resurgence. On the minings segment bindura added 7.73% to 1.95c amid reports its parent Mwana Africa has recently secured seizable capital for recapitalizations of operations. RioZim equally added 5% to close at 21c to raise the resources index by 0.83% to 47.17pts. Turnover surged 137% to $2.24m on the back of a 28% and 26% contribution by Econet and Innscor respectively.

African Currencies