Movers & Shakers: September 17, 2012

African Currencies

Botswana: DCI -0.05%, USD 856k

It was a very active day in Botswana today, 11 names traded but with Letshego, the usual suspect, dominating the vols, the name accounted for almost 90% of the value traded and lost -3t at the same to close at 135t. G4S was the only other loser -3t to close at 590t. There were three winners Letlole +5t to close at 140t, Primetime losing -5t to close at 195t and Turnstar +2t to close at 150t.

Egypt: EGX 30 +1.27%, USD 224m

The Market managed to continue to trade with a positive sentiment, leaving the EGX30 to end the day up 1.27% to close at 5,895.63, its worth mentioning that the market witnessed profit taking after an hour of trading to reach a low of 5820.26 points yet the market managed to rebound, Market volumes continue to improve significantly, the market traded a total turnover of USD 224m. The market continued with its bullish sentiment with local institutions and local retail as net-buyers, yet local international investors continue to book profits at these levels. Names such as HRHO, OCIC, and PHDC witnessed notable selling pressure, each last printing down 5.97%, 0.70% and 4.15% respectively.

Investor mix:
•  Foreigners were net Sellers by 52.79 mn EGP and were 13.03% of the market.
•  Egyptians were net Buyers by 71.64 mn EGP and were 79.67% of the market.
•  Arabs were net Sellers by 18.84 mn EGP and were 7.29% of the market.
•  Institutions were net Sellers by 15.90 mn EGP and were 25.32% of the market.
•  Retail were net Buyers by 15.90 mn EGP and were 74.67% of the market

Kenya: NSE 20 -0.08%, USD 2.00m

Quiet day to start the week as value traded amounting to $2.00m. Foreigners completely dominated activity in Safcom (99% of purchases and 80% of sales) as a total of 8.49m shares traded. There were a few crosses in Mumias Sugar today as foreigners accounted for 57% of purchases with a total of 3.15m shares traded in the name. Foreigners dominated purchases (71%) in Kenya Commercial Bank as a total of 1.40m shares changed hands over the day. Foreigners were net buyers and accounted for $1.22m of total purchases while they accounted for $800k of total sales. The market closed the day lower with the NSE 20 Index falling 0.08% to close at 3,950.18.

Mauritius: Semdex +0.18%, USD 360k

Both the SEM-7 and Semdex made gains on the day +0.21% and +0.18% respectively but unfortunately the activity levels were dire. Only three names traded more than a million rupees worth, NMH, Terra and Lux Island resorts. There were two gainers from the Sem-7 and one loser, the winners being SBM and ENL Land +0.61% and +1.04% respectively while Rogers lost -0.32% to close at 311.00.

Nigeria: ASI +0.14%, USD 16.03m

The mkt opened higher before retreating into the red but a strong end to the session meant that the market closed +14bps for the better. The top-tier banks were mixed, the notable movers being Access +1.62% and UBA -1.71% although neither traded very actively. The rest of the sectors were also mixed although skewed to the upside. Within the consumer sectors the names to stand out were Flourmills +2.37%, UACN +3.27% while PZ -2.34% and Cadbury -4.99% were the big losers. 31 stocks advanced, 17 declined and 53 remained unchanged. The highest value of traders were FBN, Zenith, GTG, Diamond Bank and NB.

South Africa: Top 40 -0.64%, USD 1.56bn

The JSE ended the day lower with the Top 40 Index falling 0.64% to close at 32,122 while value traded amounted to USD 1.56bn. Industrials were the day's biggest losers with the Index falling 0.75% followed by Resources and Financials which fell 0.62% and 0.12% respectively. The Rand was trading at 8.21 and 10.79 to the USD and EUR respectively by the time local markets closed.

Zambia: LuSE +0.89%, USD 38k

Rather quiet in Lusaka with value traded amounting to USD 38k. The names that traded included BATZ, CECZ, SCBL, ZNCO, REIZ, ZAIN, FMQZ and ZSUG. FQMZ was the biggest contributor towards turnover with value traded in the name amounting to USD 18k. CECZ was the second biggest contributor towards turnover with value traded in the name amounting to USD 14k.

Zimbabwe: Industrial Index +0.96%, Mining Index -3.32%, USD 293k

The industrial index entered its fourth week of consecutive gains driven by June earning figures. Overall market activity however remains sluggish due to sporadic volumes. The industrial index climbed a further 0.96% to 141.37points spurred by fast foods giant Innscor which rose 7.69% to close at a 52-week high of 70c. Also supported by solid interims were Fidelity which advanced 25% to 15c, Larfage rose 6.67% to 80c. Padenga with upcoming June finals this Friday, picked 3.77% to 5.5c, DZL rose 1.16% to 16.50c while OK hit a 52-week high of 13c after gaining 1.56%. Astra and TSL were the only industrial stocks to record losses. Trading activity was sluggish as volumes amounted to a paltry 2mm shares while turnover dropped 78% to $0.293m. Foreign participation was buyers only with no sales and amounted $0.161m. Heavy caps Econet, Old Mutual and Delta were steady at 430c, 166c and 75c respectively while Seedco was bid at 85c with no trades. The mining index eased a further 3.32% to 77.81points weighed down by Bindura which lost 13.79% to 2.5c. Inflation slowed to 3.63% in August from 3.94% in July.