Movers & Shakers: September 20, 2012

African Currencies

Botswana: DCI -0.04%, USD 51k

A much quieter session on the BSE today with turnover at USD 51k. The DCI inched down 0.04% to 7,358.36pts. Choppies closed 5t lower at 175t. Cresta lost 10t at 75t. Primetime was down 3t at 192t while Turnstar gave-up 2t at 148t.

Egypt: EGX 30 -1.41%, USD 148m

The market witnessed today notable profit taking lead by International and GCC institutions, leaving the EGX30 to end the day down 1.41% to end the day at 5,827.91 points. Market volumes continue with in recent average volumes, market traded a total turnover of EGP905m. Retail investors continue to be net buyers in market continuing with their bullish sentiment which has going for the last couple of weeks, it’s worth mentioning that local institutions changed their trading sentiment today to be net-buyer, this came after being net-sellers from week start. Names such as ORWE and ETEL traded against the general market sentiment, each ending the day up 4.18% and 1.09% respectively. The real-sector witnessed notable profit booking, this was expected given it was the first sector to rally in the recent market run, names such as PHDC, TMGH and OCDI ended the day down 1.21%, 3.53% and 5.90% respectively.

Investor mix:
•  Foreigners were net Sellers by 64.10 mn EGP and were 16.16% of the market.
•  Egyptians were net Buyers by 58.43 mn EGP and were 76.04% of the market.
•  Arabs were net Sellers by 5.67 mn EGP and were 7.80% of the market.
•  Institutions were net Buyers by 3.42 mn EGP and were 28.22% of the market.
•  Retail were net Sellers by 3.42 mn EGP and were 71.77% of the market

Kenya: NSE 20 -0.62%, USD 8.94m

A very active day in Nairobi with some block trades dominating volumes. A large cross at KES227 in EABL by foreign buyers and sellers was the most notable activity on the day although the name still closed down at KES226. Bamburi also saw a cross go through, this time foreign investors were purely on the sell side. After a quiet start Equity Bank volumes picked up through the day, yet the name was soft and closed down 1.08% at KES23.50 while KNCB was noticeably quiet for the session.

Mauritius: Public Holiday

Nigeria: ASI +0.92%, USD 11.29m

An incredibly dull day in Lagos with a strong feeling that participants are catching their collective breath after a rampant couple of weeks. Most of the outperformance was led by the consumers, with Cadbury (+4.97%, N21.56) and NB (+6.23%, N145) continue to find demand. Ashaka Cement release their H1 numbers which looked good (Revenue +19.97%, PBT +54.16%, PAT +54.21%) and the name found itself at limit up on full bid and closed limit up at N13.13. Banks had a mixed day with Diamond Bank the real laggard and was -6.23% at N3.31 as it continues to struggle. Zenith (-1.78%), FCMB (-3.15%) and Skye Bank (-4.27%) were also notable losers in the banking sector.

South Africa: Top 40 -0.35%, USD 2.9bn

The JSE ended today's session in the south with the Top 40 index down 0.35% at 32,081pts. Resources were down 1.7% with Plats losing 2.2% as the mining strikes spread to other mines. Financials were down 9bps. Nedbank rose by 1.2%. OML also uptperformed closing 1.2% higher. On the level of Industrials, MPC traded 4.8% higher. SHP rose by 2.9% while TRU increased by 2.7%.

Zambia: LuSE -0.45%, USD 266k

Lusaka ended the day 0.45% in the red at 3,710.36pts. Lafarge lost ZMK1 to finish at ZMK 8,005. Puma was unchanged at ZMK 1,205. FQMZ gave-up ZMK 2 to ZMK 4,718. SCZ was down ZMK 0.10 at ZMK 2. CEC traded level at ZMK 684.

Zimbabwe: Industrial Index +0.61%, Mining Index +15.92%, USD 650k

The Industrial index reversed yesterday’s losses as it rebound 0.61% to 142.04pts. Econet broke the 430c resistance level to garner 1.16% at 435c, AICO added 4.35% while retail giant OK added 3.8% to 13.5c. Interfresh and Ariston traded 25% and 11.54% higher at 0.15c and 1.45c respectively, TSL advanced 6.48% to a 52-week high of 11.5c while ZBFH was 15% firmer at 11.5c. Delta, Old Mutual, Innscor and PPC remained steady at 75c, 170c, 66c and 230c. Turnover declined 52% to $0.65m after sluggish trading that saw halve from 12.72m shares to 5.67m shares. Foreign participation remained solid though absolute values were low due to overall thin volumes. The highly volatile mining index swung 15.92% into positive to close at 91.07points after Falgold and Rio recorded higher bids. Falgold closed buyers at 25c from a previous bid of 10c while Rio was bid at 55c up from 51c. Bindura was unchanged at 2.7c. Coal Miner Hwange was bid at 19c after a releasing their June interims where profit stood at $0.5m being an improvement from a $1.484m loss.