Movers & Shakers: September 11, 2012

African Currencies

Botswana: DCI -0.01%, USD 80k

Another very quiet session in Gaborone today with only $80k worth trading. 11 of the names did trade but none of them were significant at all. There were three price changes on the day, two gainers FSG and G4S, +5t and +2t respectively. The lone loser was Primetime -5t.

Egypt: EGX 30 +1.63%, USD 160m

The Market managed to continue to trade with a positive sentiment, leaving the EGX30 to end the day up 1.63% to close at 5,697.48 Market volumes continue to improve significantly, the market traded a total turnover of USD 160m. The market continued with its bullish sentiment with local institutions and GCC retail as net-buyers, yet local retail investors continue to book profits at these levels along with international institutions. HRHO managed to lead the market in terms of volumes the names has been grabbing investors ahead of the companies AGM were its expected to approve the Q invest deal, HRHO ended the day up 2.54% to close at 13.38. ESRS continues to rally, the name is witnessing notable buying appetite, this is mainly on the back of market chatter of a possible settlement with the government regarding the steel license, leaving the former to end the day +4.41% to close at EGP10.54.

Investor mix:
•  Foreigners were net Sellers by 9.07 mn EGP and were 16.38% of the market.
•  Egyptians were net Buyers by 6.07 mn EGP and were 74.57% of the market.
•  Arabs were net Buyers by 3.00 mn EGP and were 9.05% of the market.
•  Institutions were net Buyers by 3.21 mn EGP and were 25.73% of the market.
•  Retail were net Sellers by 3.21 mn EGP and were 74.26% of the market

Kenya: NSE 20 +1.12%, USD 4.54m

Fairly decent day in Kenya with all the big names contributing towards activity as value traded amounted to $4.54m. Kenya Commercial Bank was rather active as foreigners accounted for 99% of purchases in the name with a total of 2.35m shares traded over the day. Safcom continued to rally on the back of foreign interest (96% of purchases) as 13.65m shares traded in the counter. Foreigner demand continued in EABL (99% of purchases) as a total of 240k shares traded with the the counter closing at 229. Foreigners were net buyers and accounted for $2.97m of total purchases while they accounted for $1.79m of total sales. The market closed the day higher with the NSE 20 Index gaining 1.12% to close at 3,903.72.The Business Leaders Confidence declined to 53.8 in August over vote tensions.

Mauritius: Semdex +0.36%, USD 1.4m

It was back to the usual within the SEM-7 today. 3 winners, 1 loser and MCB dominating the vals. MCB, the other bank SBM and ENL Land were the names to close in the black +1.23%, +0.61% and +0.26% respectively. Hotelier ENL Land was the loser, falling -1.67% to close at 59.00. The was significant trading outside of the SEM-7, Alteo Limited was the most active name on the day -0.69% to close at 28.6 while Ciel Investment was also relatively active, unch at 1.15.

Nigeria: ASI -0.42%, USD 16m

The bears continued to have the upper hand today, the market fell -0.42%. The bank10 was down -0.47% with UBA the big loser -4.98% and FBN another notable faller -2.24%. Access released results today, gross earnings up +102.69% and PBT and PAT rising 143.02%, and 225.66% in that order. The Bank also declared an interim Dividend of N0.25k, translating to an annualized dividend yield of 5.72%. Outside of the banks it was also not pretty, the cement sector took a smack although heavyweight DangC was unch. The consumer plays also struggled, Cadbury -4.98%, DangS -4.84% with Unilever the outperformer and only name in the black +2.42%. The top tier banks were the most active traders with all of them trading in excess of $1.5m worth except for UBA. 19 stocks advanced, 23 declined and 63 remained unchanged.

South Africa: Top 40 -0.25%, USD 1.39bn

The JSE ended the day lower with the Top 40 Index falling 0.25% to close at 31,264 while value traded amounted to USD 1.39bn. Resources were the day's biggest losers with the Index falling 0.89% while Financials and Industrials gained 0.27% and 0.02% respectively. The Rand was trading at 8.19 and 10.45 to the USD and EUR respectively by the time local markets closed.

Zambia: LuSE +0.97%, USD 284k

Rather active in Lusaka with value traded amounting to USD 284k thanks to a cross in PUMA. The names that traded included AELZ, CECZ, LAFA, NATB, PUMA, SCBL, ZABR, ZNCO and ZSUG. PUMA was the biggest contributor towards turnover with value traded in the name amounting to USD 269k. ZSUG was the second biggest contributor towards turnover with value traded in the name amounting to USD 5k.

Zimbabwe: Industrial Index +0.55%, Mining Index -1.31%, USD 486k

The equities market continued the week in the positive as the Ministry of Finance gives assurance that there will be no further downward revision in economic growth target of 5.6%. Over the past eleven trading sessions, the ZSE mainstream index has advanced 5.8% narrowing its YTD loss to 5.15%. By close of trading today, the industrial index advanced 0.55% to 138.35points spurred by Old Mutual, Innscor and BAT. Innscor closed 3.3% firmer at 62c post release of good financials, Old Mutual and BAT rose 3.13% and 2.94% to close at 165c and 350c respectively. Market activity dropped significantly with just 2.3m shares down from 3.6m exchanging hands while turnover amounted to $485,883 from $1.08m. Foreign purchases and sales accounted for 60% and 12% of the turnover respectively. Retail group, Edgars recorded no trades and remained bid at 7.5c. The group reported an 89% jump in half year profits to $0.9m (EPS = 0.38c) driven by a 14% growth in trading profits coupled with 19% drop in finance charges.Gains in Bindura of 16% closing at 2.9c failed to help the mining index which slid by 1.31% to 86.43points as Hwange slipped 4.65% to 20.50c. The Mining index is exhibiting high volatility with a YTD loss of 14.17% despite having been 12% up a month ago. The worst YTD performance was however seen on 26 June when the mining index was 26% in the negative.