Movers & Shakers: September 18, 2013

Botswana: DCI -0.01%, USD 228k

A much improved day in terms of activity in Botswana although it still remains dull. FNBB was the top trader accounting for 97% of today’s turnover.

Egypt: EGX 30 -0.59%, USD 51.9m

The market ended the day in negative territory, leaving the EGX30 index shedding 59bps and to close at 5,515.82 points. Volumes remained below average as the market traded a total turnover of EGP358mn. With no catalyst to drive the market higher, the EGX30 opened on a slight up-tick but it wasn't for long to reverse and turn red pressured by mainly local institutional profit-booking. Locals dominated the trading activity today accounting for approximately 88% of market participation and ended as net sellers. Internationals however managed to end as net buyers for the second consecutive day yet on very weak participation of only 7%.

Kenya: NSE 20 +0.27%, USD 6.3m

Despite a fall in activity today there is still significant interest in the Nairobi bourse. Safcom touched a 12 month high of KES 8.30 yet eventually settled up 60bps at KES 8.20 on the back of foreign buying. Equity Bank was also active yet the name gave back yesterday’s gains by closing down 70bps at KES 33.25. EABL was the day’s top trader with foreign buying driving the stock up 30bps to KES 300. Other more illiquid names like Co-op (+60bps, KES 16.10), Bamburi (+50bps, KES 206) and NMG (+3%, KES 309) also saw decent action for a change, albeit mostly local activity.

Mauritius: Semdex -0.31%, USD 2.2m

Turnover jumped to an impressive $2.2m in Port Louis thanks to some chunky trading in the 3 main stocks, MCB, SBM and NMH.The Sem-7 did struggle though with chunky losses in NMH (-2.13%, Rs80.25) and Bramer Banking (-1.57%, Rs6.28) while SBM closed unchanged at Rs1.01 and MCB fell by 13bps to Rs193.25. There was also a chunky cross in the normally illiquid PBL at Rs200.

Nigeria: ASI -0.24%, USD 15.86m

The trend continues in Lagos – quiet trading punctuated by the odd cross which was yet again the case today. Banks fell by 30bps today with 1 notable outlier which was Access (+6%, N9.98) – adding more confusion to that late block that went through at limit down yesterday. All other banks closed in the red with Tier 2 names particularly hard hit with Skye Bank (-2.09%, N4.21) and Diamond Bank (-3.38%, N6.01) both recipients of chunky crosses. Consumers were very quiet with only Nestle (unch, N940) and NB (unch, N161) showing any signs of life.

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

South Africa: Top 40 -0.87%, USD 1.2bn

The JSE struggled across the board as all sectors closed in the red. The rand remains firm at R9.82, R15.69 and R13.11 vs the USD, GBP and EUR respectively at the time of writing.

Zimbabwe: Industrials +0.22%, Mining unch, USD 1.55m

The Industrials gained smalls for the second consecutive day as the market tries to rebound after the past few weeks of softness. The Industrials gained 22bps mainly driven higher by an uptick in Econet (+1%, 50.5c), OK Zim (+40bps, 25.01c) and Old Mutual (+90bps, 227c). Trading activity also increased slightly to $1.55m mostly due to Delta which closed at 120c. In other news, the opening session of the 8th Zimbabwean parliament was held yesterday where 14 Bills were tabled as agendas to be debated. Of interest is the public private partnership bill, the sovereign wealth fund bill as well as the mines and minerals bills. According to the manifesto of the winning party economic growth is to be achieved through the harnessing of minerals coupled with privatization of some parastatals and the pooling of resources through the sovereign wealth fund.

African Currencies