Movers & Shakers: September 25, 2012

African Currencies

Botswana: DCI +0.24%, USD 50k

There were 11 movers in Botswana today but not much to report activity wise. 5 names traded higher while two traded lower. The winners were Choppies, Cresta, FNBB, Sechaba and Turnstar appreciating +4t, +14t, +5t, +40t and +2t respectively. The two losers were Engen and Primetime. FBB was where the activity was concentrated.

Egypt: EGX 30 +2.15%, USD 162m

The market witnessed a notable rally today lead by local institutions and GCC retail investors, leaving the EGX30 to end the day up 2.15% to close at 5,956.44 points. Market volumes continue to improve, market traded a total turnover of USD 162m. The market continued with its bullish sentiment with local institutions and GCC retail as net-buyers, yet local retail investors continue to book profits at these levels along with international institutions. Names such as JUFO and CCAP managed to break there 52 week high on aggressive volumes, each ending the day up 6.48% and 5.26% respectively. ETEL managed trade against the market general sentiment to end the day down 2.31% to close at EGP14.39, its worth mentioning that ETEL chairman Akil Beshir announced his retirement after twelve years with the company.

Investor mix:
•  Foreigners were net Buyers by 4.05 mn EGP and were 19.58% of the market.
•  Egyptians were net Buyers by 4.63 mn EGP and were 72.41% of the market.
•  Arabs were net Sellers by 8.69 mn EGP and were 8.01% of the market.
•  Institutions were net Buyers by 2.65 mn EGP and were 30.92% of the market.
•  Retail were net Sellers by 2.65 mn EGP and were 69.07% of the market

Kenya: NSE 20 +0.22%, USD 10.40m

Rather impressive day in Nairobi with value traded amounting to an astonishing $10.40m. There was a large cross of 2m shares in EABL with both the buyer and the seller being foreign as a total of 2.94m shares traded in the name over the day. Foreigners sought after Safcom as they accounted for 90% of purchases with a total of 11.88m shares traded. There was a large cross in Diamond Trust with both the buyer and the seller being local as a total of 350k shares traded. Foreigners were net buyers and accounted for $9.32m of total purchases while they accounted for $8.57m of total sales. The market closed the day higher with the NSE 20 Index gaining 0.22% to close at 3,950.97.

Mauritius: Semdex +0.17%, USD 837k

It was a quiet session in Mauritius today with less than a million dollars’ worth trading. There were only two movers in the SEM-7, MCB which lost -0.63% to close at 163.00 and ENL Land which added +0.25% closing at 39.4. The most active names from the SEM-7 was MCB while SBM and Terra made worthwhile contributions. The other two names that made contributions were Omnicane and Vivo Energy

Nigeria: ASI +0.43%, USD 24m

The market opened stronger today on low vols and continued on this path for most of the session before pulling back a bit towards the end, eventually closing +43bps for the better. The banks as a generalization had a tough session, bank10 -0.46% although UBA +1.77%, Diamond +2.04% and FBN +0.28%. Access lost -1.92% to close at N9.18. The names has declined -3.87% over the past 3 trading sessions and is trading at its lowest level since Sept 12, just after the results. The banks accounted for 67% of all the activity. The cement sector was a big winner with all the names closing in the black, most notably heavyweight DangCem +3.2%. The consumer plays were mixed but skewed towards the upside. Flourmills -1.36%, Unilever -1.55%, while PZ, UACN and DangF were winners +1.58%, +1.86% and +4.95% respectively. Tiger Brands, South Africa’s largest food company, received approval from Nigeria’s Securities & Exchange Commission (SEC) to pay N30.1 billion ($190 million) for 63.4% of the total issued ordinary share capital of Dangote Flour from Dangote Industries Ltd. via a share sale and purchase agreement (SSPA).

South Africa: Top 40 -0.50%, USD 1.63bn

The JSE ended the day lower with the Top 40 Index falling 0.50% to close at 31,776.31 while value traded amounted to USD 1.63bn. Resources were the day's biggest losers with the Index falling 1.97% while Financials and Industrials gained 0.65% and 0.04% respectively. The Rand was trading at 8.17 and 10.59 to the USD and EUR respectively by the time local markets closed.

Zambia: LuSE unch, USD 4.89m

Extremely active day in Zambia with value traded amounting to USD 4.89m thanks to a large cross in PUMA. The names that traded included BATZ, CECZ, FQMZ, PUMA, SCBL, REIZ, ZAMEFA, ZMBF and ZANACO. PUMA was the biggest contributor towards turnover with value traded in the name amounting to USD 4.69m. ZMBF was the second biggest contributor towards turnover with value traded in the name amounting to USD 131k.

Zimbabwe: Industrial Index +0.14%, Mining Index +3.36%, USD 650k

Industrials gained by a further 0.20 pts (0.14%) to close at 142.62pts as the quarter end beckons driven by construction products manufacturers Turnal that put on +4.35% to 4.8c; Cigarette manufacturers BAT further consolidated their year to date top performance with a +2.5% rise to 410 bringing their year to date gains to 164.5%. Mash put on 9.1% to 2.4c leading while Dawn set for major board changes to incorporate interests of major shareholder. The market continued to trade thin on tight liquidity as only $650k worth of trades being recorded against an average daily value traded for the market of $1.6m. Retail group, OKZIM was the market favourite for the day in a session dominated by local investors. Only ten stocks registered price movements with gainers outnumbering fallers by six to four. Seedco was the only heavy weight faller shedding 0.58% to 85c. Gains in RIOZIM that advanced 14.29% (8c) to 64c helped the resources index to a 3.14 pts (3.36%) surge to close at 96.64pts. RioZim however closed bid higher at 65c as the supply ran dry while the rest of the mining stocks that is BINDURA, FALGOLD and HWANGE saw no trades.