Movers & Shakers: June 21, 2012

African Currencies as at GMT 15:30

Botswana: DCI +0.02%, USD 200k

The DCI remained flat today recording turnover of USD 200k with Letshego accounting for 55% of this. The counter saw 579,816 shares trade 2t lower at 147t. Turnstar also saw decent vols with 301,580 shares trading at 160t. Choppies lost 1t to end the day at 167t.

Egypt: EGX 30 -1.87%, USD 31m

Market witnessed another notable sell-off today lead by international investors who remain net sellers in the market, the EGX30 ended the day down 1.87% to close at 4,031.60 points. Volumes were weaker than recent market turnover, market traded a total turnover of USD 31m. With prevailing concerns on the fate of Egypt's elections and the calls for mass protests in various cities in Egypt against the SCAF resent empowerment, internationals continue to minimize their exposure in the market fearing the political road ahead of Egypt, yet local retail investors along with the GCC investors continue to benefit from price hits witnessed this week, to end the week as net-buyers.

Investor mix:
•  Foreigners were net Sellers by 16.93 mn EGP and were 31.17% of the market.
•  Egyptians were net Buyers by 16.17 mn EGP and were 55.70% of the market.
•  Arabs were net Buyers by 0.767 mn EGP and were 13.13% of the market.
•  Institutions were net Sellers by 19.10 mn EGP and were 46.53% of the market.
•  Retail were net Buyers by 19.10 mn EGP and were 53.46% of the market.

Kenya: NSE 20 -0.33%, USD 5.20m

Increase in activity today with value traded amounting to $5.20m. No surprise to see EABL as the biggest contributor towards value traded with 320k shares traded in the name as foreigners accounted once again for basically all of the purchases. There was a decent cross in Nation Media Group today with locals on both sides of the transaction as a total of 410k shares change hands in the counter over the day. There were a few crosses in Kenya Commercial Bank as locals dominated both sides of the counter with a total of 2.83m shares traded. Kenya Airways was rather active today as it was the first day that the new shares traded after the rights issue with 3.94m shares traded. Foreigners were once again net buyers and accounted for $2.12m of total purchases while they accounted for $870k of total sales. The market closed lower with the NSE 20 Index falling 0.33% to close at 3,682.24.

Nigeria: ASI -0.76%, USD 9m

The market opened stronger today, carrying on from where it left off yesterday but unfortunately it was unable to carry the momentum into the close as the bears had surfaced meaning that the market closed -0.76% lower off still low activity levels of $9m, the banks accounted for 63.99% of the trades – specifically Zenith, FBN and GTB. Sector wise was the banks were the main drag -0.82%, GTB and UBA felt the effect more than most -4.46% and -3.02% respectively while FBN actually managed to eke out a small gain +0.55%. The consumer goods sector lost -0.43%, the oil and gas sector eased -0.41% whilst the insurance sector added +1.72%.

South Africa: Top 40 -0.80%, USD 2.10bn

The market closed the day lower with the Top 40 Index falling 0.80% to close at 30,517 while value traded amounted to USD 2.10bn. Resources were the day's biggest losers with the Index falling 2.36% while Financials and Industrials gained 0.17% and 0.06% respectively. The Rand was trading at 8.32 and 10.45 to the USD and EUR respectively by the time local markets closed.

Zambia: LuSE +0.33%, USD 127k

Another decent day in Lusaka today with value traded amounting to USD 127k. The names that traded included BATZ, CCHZ, CECZ, NATB, PUMA, SCBL, ZNCO and ZMBF. ZMBF was the biggest contributor towards turnover with value traded in the name amounting to USD 108k. SCBL was the second biggest contributor towards turnover with value traded in the name amounting to USD 7k.

Zimbabwe: Industrial Index -0.27%, Mining +0.31%, USD 1.85m

The industrial index lost 0.27% to 130.68pts. Trading activity dropped sharply to 5.2m from 10.1m shares but turnover remained resilient dropping a marginal 7% to $1.845m from $1.986m supported by foreign participation in Barclays, Ariston, Delta, Seedco and local buying in Econet. Foreign participation was however skewed toward buying as purchase amounted to 43% of buy side turnover against 5% of the sale side value of trades. Old Mutual which increased by 1.29% to 157c. ART led the risers putting on 17.65% to 0.6c . Afrisun added on 11.11% to 0.9c. CBZ pared 5.26% to 9c on selling pressure. The mining index recovered a further 0.31% to 81.26pts following a 6.67% gain in Bindura. Other mining stocks recorded no trades.