Movers & Shakers: September 11, 2013

Botswana: DCI +0.11%, USD 235k

Activity slowed down quiet drastically due to the lack of crosses with value traded amounting to USD 235k as FNB accounted for 80% of the turnover.

Egypt: EGX 30 +0.72%, USD 76m

The market managed to trade the day in the greens on strong volumes, leaving the EGX30 to end the day up 0.72% to close at 5,447.37 points. Market volumes were significantly high relative to recent turnovers, the market traded a total turnover of USD 76m. The market managed to continue to trade in the greens on weak momentum this was mainly lead by local and GCC retail investors targeting names such as EKHO, OTMT and HRHO, each ending the day up 7.14%, 1.75% and 2.44% respectively, yet international institutional investors continue to be net sellers along with GCC institutions in the market targeting names such as TMGH, COMI and APSW each ending the day down 0.85%, 0.95% and 0.63% respectively.

Kenya: NSE 20 +0.10%, USD 8.4m

Much better day in Nairobi thanks to foreigners dominating proceedings (57%) as value traded amounted to $8.4m. The foreign demand in Safcom continued with 15.39m shares traded as the counter fell 0.6% to close at KES 8.05 on a very strong bid ahead of the last day to trade cum-dividend in the name tomorrow. There were big foreign crosses in both BATK and EABL as demand in the counters remains firm. Profit taking in Kenya Commercial Bank continued with the name falling 1.1% to close the day at KES 44.25.

Mauritius: Semdex +0.59%, USD 1.80m

It was a decent day in Port Louis after yesterday's holiday with value traded amounting to USD 1.80m thanks once again to SBM as the banking heavyweight goes ex-dividend tomorrow. The name accounted for 56% of today's turnover as a total of 30.31m shares changed hands with the counter gaining 0.96%. MCB on the other hand closed the day unchanged at Rs192.00 with a decent 43k shares traded over the day. There was a cross of 150k Sun Resorts at Rs30.00 which helped boost activity.

Nigeria: NSE 20 +0.41%, USD 15.89m

Activity increased in Lagos, but still nothing to write home about as value traded amounted to $15.89m. Crosses in Nestle ($5.09m), Zenith ($1.77m) and Nigerian Breweries ($1.18m) were the only talking points of today's session with two-way flow mostly non-existant in a number of the bigger names. Banks (+0.67%) closed the day higher with Zenith (+2.01%) jumping up right at the close. Consumers were also +0.67% stronger with Nigerian Breweries (+1.85%) the major driver behind the move higher while Guinness (+1.02%) also put in a good performance. On the news front; President Goodluck Jonathan sacked nine ministers in a move which appears to be an attempt to reassert himself as the leader of his party (PDP) as well as the State.

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

South Africa: Top 40 -0.39%, USD 1.33bn

The JSE ended the day lower with the Top 40 Index falling 0.39% to close at 38,933 while value traded amounted to USD 1.33bn. Resources were the day's biggest losers with the Index falling 1.42% while Financials and Industrials gained 0.16% and 0.10% respectively. The Rand was trading at 9.90 and 13.18 to the USD and EUR respectively by the time local markets closed.

Zimbabwe: Industrials +2.82%, Mining +3.31%, USD 1.06m

The market cheered yesterday’s long awaited cabinet announcement as the industrials surged +2.82% to 191.14 pts and minings advanced +3.31% to 48.73pts. Driving the former was Delta’s +5.8% rise to 127c on $0.44m worth of trades and closing with 120-130c spread. Econet firmed +6.8% to end at 55c while retailer OK surged +4.8% to 23.10c, both gaining on the back of paltry trades and ending net buyers. Turnover however decreased with value traded amounting to USD 1.06m.

African Currencies