Movers & Shakers: June 13, 2012

African Currencies as at GMT 15:30

Botswana: DCI -0.02%, USD 55k

A quiet day in Gaborone with thin vols exchanging hands. Barclays picked up 1t to the end at 717t. Chobe and Engen increased by 4t a piece at 245t and 552t respectively. BIHL was unchanged at 1026t.

Egypt: EGX 30 -0.62%, USD 45m

The market started the day with a positive sentiment to reach a high a of 4467.38 points, yet after an hour of trading the market couldn’t hold its gourds as selling pressure was evident l lead by GGC and foreign institutions. The EGX30 ended the day down 0.62% to close at 4,421.38 points. Market traded a total turnover of USD 45m, its worth mentioning that OTMT contributed more than 45% of total turnover, this is attributed to the news that the company plans to distribute a cash dividends of EGP1.05, which encouraged local retail investors to increase their exposure in the name, OTMT ended the day up 4.65% to close at 4.65%.

Investor mix:
•  Foreigners were net Sellers by 41.16 mn EGP and were 28.26% of the market.
•  Egyptians were net Buyers by 55.87 mn EGP and were 62.91% of the market.
•  Arabs were net Sellers by 14.70 mn EGP and were 8.83% of the market.
•  Institutions were net Sellers by 34.35 mn EGP and were 39.09% of the market.
•  Retail were net Buyers by 1.59 mn EGP and were 60.90% of the market.

**Please note: CBE announced that Sunday the 17th of June will be a public holiday for elections.

Kenya: NSE 20 +0.01%, USD 6.69m

Active day in Nairobi with value traded amounting to a rather impressive $6.69m. Equity Bank completely dominated value traded with a total of 16.15m shares traded in the name as foreigners accounted for nearly all the purchases. There was a cross of 9m shares at 21 that went through early in the session to get things going. There was a decent amount of activity in EABL with 470k shares traded thanks to a few smaller crosses, foreigners accounted for 95% of purchases. Kenya Commercial Bank was relatively subdued with 1.83m shares traded in the name and no substantial crosses to speak of. Foreigners were net buyers and accounted for $5.58m of total purchases while they accounted for $1.49m of total sales. The market closed slightly higher with the NSE 20 Index gaining 0.01% to close at 3,670.75.

Mauritius: Semdex +0.04%, USD 745K

Both the Semdex and Sem - 7 managed to eke out gains in today’s session. This was largely due to the three names that managed to trade in the black and maintain that position until the close, namely ENL Land +1.28%, Terra +1.85% and Rogers +0.31%. The other 4 members of the Sem-7 all closed flat. MCB was the most active name and when combined with SBM they accounted for 50% of the total activity that went through.

Nigeria: ASI +0.28%, USD 6.61m

The market continues to be neglected by the most participants, even Kenya traded more than Nigeria today. It appear that we are going to have to wait for the midyear results to start coming out before any sort of interest returns to the market and the activity levels increase. The market opened stronger today and it managed to keep its head above water until the close mostly due to the strength of the banking sector, +120bps. All the bigger banks closed in the black, FBN +0.95%, GTB +0.75%, UBA +3.26% and Zenith +1.89%. Fidelity saw strong demand from a few international buyers which meant that the name closed limit up +5%. Food & bev names Cadbury and DangF closed almost limit down -4.95% and -4.89% respectively. The head of Nigeria’s SEC head Oteh has been suspended by the board. Naira falls to lowest in six months.

South Africa: Top 40 +0.56%, USD 1.18bn

The JSE ended the day higher with the Top 40 Index gaining 0.56% to close at 30,050 while value traded amounted to USD 1.18bn. Resources were the day's biggest gainers with the Index gaining 0.70% followed by Industrials and Financials which gained 0.24% and 0.13% respectively. The Rand was trading at 8.36 and 10.53 to the USD and EUR respectively by the time local markets closed.

Zambia: LuSE -0.02%, USD 37k

Not much went on in Lusaka today with value traded amounting to USD 37k. The names that traded included CECZ, REIZ, SCBL, ZMBF, ZNCO and ZSUG. ZMBF was the biggest contributor towards turnover with value traded amounting to USD 19k. SCBL was the second biggest contributor towards turnover with value traded in the name amounting to USD 10k.

Zimbabwe: Industrial Index -0.48%, Mining +0.29%, USD 2.1m

The industrial index dropped 0.48% to 131.96c after Delta lost another 1c to a 52-week low of 65c while a 5.08% loss in CBZ to 11.39c saw the group ease a cumulative 13.71% over the past four sessions. Five counters traded in the negative led by Celsys which eased 28.57% to 0.05c on a notable volume of 50m shares. Other losses were seen in Turnal (-13.43%) and Ariston (-2.78%). The mining index rose 0.29% to 83.83pts spurred by gains in Bindura and higher bid in Falgold. Bindura closed the day 3.33% to 3.1c as efforts to restart normal operations go into overdrive. Falgold was bid higher at 13.1c.