Movers & Shakers: June 11, 2012

African Currencies as at GMT 15:30

Botswana: DCI -0.02%, USD 99k

Gaborone inched down 0.02% to end the day at 7265.95pts. Turnover was dominated by Letshego which saw 387,500 shares trade in the name at 150t, accounting for 81% of the of the day's turnover. FSG lost 5t to end the day at 140t. Furnmart was down 7t to 145t. Engen was unchanged at 548t.

Egypt: EGX 30 -1.73%, USD 27m

The market witnessed a sell-off today lead by Gulf investors and international institutions, the EGX30 ended the day down 1.73% to close at 4394.32 points. Volumes remain weak although slightly improved from last week’s participation levels trading a total value of USD 27m. With an indicative court ruling for Egypt’s elections this Thursday, investors have implemented significant selling pressure across the market in fear of further turmoil which will inevitably set-back the stability we have all been waiting for. HRHO was the weakest performer today to close 7.50% lower on a significant volume of 3mn shares, possibly to coincide the unlikelihood of Planet IB’s proposed deal. Heavy weight OCIC was also amidst the bearish sentiment as weaker than expected results undermined the stock to close 1.91% lower.

Investor mix:
•  Foreigners were net Sellers by 11.29 mn EGP and were 19.26% of the market.
•  Egyptians were net Buyers by 16.17 mn EGP and were 70.75% of the market.
•  Arabs were net Sellers by 4.88 mn EGP and were 10.00% of the market.
•  Institutions were net Sellers by 8.60 mn EGP and were 32.47% of the market.
•  Retail were net Buyers by 8.60 mn EGP and were 67.52% of the market.

Kenya: NSE 20 +0.48%, USD 1.92m

Very slow start to the week with value traded amounting to an extremely dull $1.92m. Kenya Commercial Bank was the only name with some decent volume as 4.01m shares changed hands thanks to a few crosses at 23 with foreigners accounting for nearly all of the purchases. There was decent foreign demand in Safcom today with 3.24m shares traded, but the bid was however fairly stacked at the close. Equity Bank was rather quiet with 470k shares traded and no substantial crosses to talk about. Foreigners were net buyers and accounted for $1.23m of total purchases while they accounted for $110k of total sales. The market closed higher with the NSE 20 Index gaining 0.48% to close at 3,657.01.

Mauritius: Semdex -0.09%, USD 537k

The market commenced the week on a quieter note with only USD 537k worth crossing the floor today as investors adopted a wait and see stance ahead of the MPC meeting. MCB saw 65,931 shares trade in the name at Rs168 out of which 55,700 shares were crossed. SBM traded flat at RS82.50. Innodis gained 1.64% to Rs43.50 while ENL Commercial lost 4.88% to Rs19.50. The Demex was up 1.11% to 150.46pts. DRBC and FUEL gained 7.36% and 6.15% to Rs 32.10 and Rs32.80 respectively.

Nigeria: ASI +1.34%, USD 7.84m

The market in Lagos opened higher and this trend persisted all day. The activity levels have been dire in Nigeria of late and today was no exception with a paltry $7.8m trading. The market heavy weight DangCem closed +3.42% higher, meaning that it dragged the index up with it. The banking sector closed marginally lower with Top Tier bank FBN the main drag, -1.76% while access was a notable outperformer +3.65%. DangF had another day where is moved by a large margin, today it closed -4.92 in the red. The brewer Nigerian Breweries had a really leaped +417bps higher today.

South Africa: Top 40 -0.16%, USD 1.11bn

The JSE ended the day lower with the Top 40 Index falling 0.16% to close at 29,656 while value traded amounted to USD 1.11bn. Financials were the day's biggest losers with the Index falling 0.75% followed by Industrials which fell 0.04% while Resources gained 0.03%. The Rand was trading at 8.43 and 10.55 to the USD and EUR respectively by the time local markets closed.

Zambia: LuSE -0.60%, USD 13k

Rather quiet in Lusaka today with value traded amounting to USD 13k. The names that traded included CECZ, LAFA, PUMA, SCBL, ZNCO and ZSUG. LAFA was the biggest contributor towards turnover with value traded in the name amounting to USD 7k. SCBL was the second biggest contributor towards turnover with value traded in the name amounting to USD 3k.

Zimbabwe: Industrial Index -0.06%, Mining +1.35%, USD 555k

Further profit taking in CBZ saw the group ease a 3.85% to 12.50c dragging the industrial index 0.06% to 133.26pts. Old Mutual rose 2.03% to 151c. Meikles edged up 0.69% to 13.1c despite a disappointing set of final results to March in which the group reported a loss from continuing operations of $5.9m as a result of loss from operations and huge finance costs. Pioneer traded 150% higher at 5c. The mining index rose 1.35% to 83.59pts spurred by a firm bid in Falgold at 13c while Rio which was the only stock to trade was steady at 45c.