Movers & Shakers: September 13, 2012

African Currencies

Botswana: DCI +0.25%, USD 920k

Today was an active day by Botswana’s standards with over $900k worth trading. For a change it was not Letshego that dominated the value traded – the active names were Choppies and Letlole. Choppies was the lone stock to advanced +12t to close at 180t while Letlole traded flat at 135t. There were three losers Engen -5t closing at 620t, FNBB losing -5t to close at 295t and Turnstar losing -3t to finish at 155t.

Egypt: EGX 30 -1.11%, USD 147m

The market witnessed today notable profit taking today lead by Local and international institutions leaving GCC institutions and local retail investors as net buyer, the EGX30 managed to end the day down 1.11% to close at 5,662.15 points. Market volumes continue trade to trade within recent average volumes, the market traded a total turnover of USD 147m. Profit taking was evident today after the market traded positively for last couple of sessions, adding to this yesterdays clashes erupting between protesters and Egyptian security forces near the US embassy in Cairo, yet ESRS managed to trade highest since July 2011, the former released 1Q2012 this morning and reported a bottom-line of EGP18million, declining 22% q-o-q, and compared to a net loss of EGP11million in 1Q2011, yet it’s worth mentioning that there has been market chatter regarding a possible M&A deal on the former, yet nothing has been announced. Names such as HRHO and TMGH managed to managed to rebound before session end, each last printing up 0.69% and 1.02% respectively.

Investor mix:
•  Foreigners were net Sellers by 28.95 mn EGP and were 12.97% of the market.
•  Egyptians were net Buyers by 46.44 mn EGP and were 78.78% of the market.
•  Arabs were net Sellers by 17.49 mn EGP and were 8.25% of the market.
•  Institutions were net Sellers by 21.25 mn EGP and were 25.20% of the market.
•  Retail were net Buyers by 21.25 mn EGP and were 74.79% of the market

Kenya: NSE 20 +0.32%, USD 6.82m

Activity continues to impress in Nairobi with value traded amounting to $6.82m. Kenya Commercial Bank was once again very active with noticeable foreign interest (61% of purchases) as a total of 10.08m shares changed hands. Safcom was very active today as a total of 30.44m shares traded with foreigners accounting for 98% of purchases and 56% of sales. Foreigners completely dominated both sides of BATK (100% of purchases and 98% of sales) as a total of 100k shares traded. Foreigners were net buyers and accounted for $4.77m of total purchases while they accounted for $1.83m of total sales. The market closed the day higher with the NSE 20 index gaining 0.32% to close at 3,953.84.

Mauritius: Semdex -0.12%, USD 836k

After all the activity yesterday it was disappointing to drop below a million dollars again, $836k. The marked eased marginally -0.12%, within the SEM-7 there were 4 losers and two winners with only SBM trading flat. Terra was the most active name with several crosses going through, -1.3% to close at 38.5. The other bank, MCB lost 0.61% closing at 164.00 after a very quiet session. Hotelier, NMH was also relatively active, gaining +1.69% on the day and closing at 60.00. outside the big 7, Lux Island Resorts was very active but took a -3.13% haircut for the day.

Nigeria: ASI +1.24%, USD 20m

The Nigerian mkt opened stronger and continued trending in this direction for the session with a strong rally for the last half an hour. The value traded managed to just breach the $20m mark before the close. The banks were outperformers again, bank10 +1.53%. UBA and Access were the most sort after names from the top tier banks +4.31% and +4.95% respectively. None of the mid-tier names closed lower, Diamond, Fidelity and Sterling all closed more than +4% higher. The cements had a good day although the big name DangC closed flat. From the consumer plays UACN stands out, +5.00% on the day, closing limit up at 37.18 with DangF not far behind +4.89%. Unilever stands out in on the screen as the lone red line, -3.82%.

South Africa: Top 40 +0.37%, USD 1.83bn

The JSE ended the day higher with the Top 40 Index gaining 0.37% to close at 31,650 while value traded amounted to USD 1.83bn. Industrials were the day's biggest gainers with the Index gaining 0.79% followed by Resources which gained 0.10% while Financials fell 0.67%. The Rand was trading at 8.34 and 10.79 to the USD and EUR respectively by the time local markets closed.

Zambia: LuSE -0.12%, USD 109k

Value traded amounted to USD 109k thanks to a cross in PUMA. The names that traded included AELZ, CECZ, FQMZ, LAFA, PUMA, SCBL, ZNCO, ZMBF and ZSUG. PUMA was the biggest contributor towards turnover with value traded in the name amounting to USD 41k. CEC was the second biggest contributor towards turnover with value traded in the name amounting to USD 21k.

Zimbabwe: Industrial Index +0.34%, Mining Index -4.7%, USD 740k

The mainstream industrial index closed 0.34% higher at 139.73points helped by gains in OK and Natfoods in a light trading session. Volumes traded declined 56% to 2.87m shares with turnover falling 73% to $0.74m due to light trading in heavy caps despite buying appetite. Foreign participation dropped to $0.385m on the buying side and a paltry $0.074m on the selling side. Leading the gains was retail giant OK up 6.67% to close at 12.8c on sizeable trade of 1.6m units. Natfoods added 4% to hit a 52-week high of 130c spurred by June finals recently released. On the downside, Interfresh pared 20% to 0.12c, TPH eased 9.09% to 10c as property companies Mash and Dawn closed 4.17% and 1.41% softer at 2.3c and 0.7c respectively. The mining index retreated 4.70% to 82.37points after Falgold was offered lower at 15c from 22c. A 2% gain in Rio at 51c failed to offset the losses. Hwange traded unchanged at 20.5c while Bindura was offer only at 2.9c after announcing the lowest uptake for a rights issue with shareholders taking up just 9.6% of the 700m shares on offer.