Movers & Shakers: June 25, 2012

African Currencies as at GMT 17:00

Botswana: DCI -0.49%, USD 457k

The market commenced the week on an active note. Letshego dominated the vols accounting for 46% of the day's turnover with 1,148,823 shares trading in the name 7t lower at 140t. G4s saw 100,362 shares trade at 592t. Barclays and Furnmart picked up 1t each to end the day at 719t and 145t respectively.

Egypt: EGX30 +7.59%, USD 87m

The market witnessed a strong rally today on above average volumes lead by local institutions and local retail investors, the EGX30 ended the day up 7.59% to close at 4,482.48 points. Volumes has improved significantly, market traded a total turnover of EGP523m. As the historic presidential results were released yesterday and Mursi was announced as Egypt’s 5th president, celebrations spread across the capital and other cites, this gave local investors a sense of optimism towards the political road ahead of Egypt which triggered the huge rally today, on the other hand GCC retail investors along with international institutions ended the day notable sellers in the market.

Investor mix:
•  Foreigners were net Sellers by 43.40 mn EGP and were 22.64% of the market.
•  Egyptians were net Buyers by 50.28 mn EGP and were 67.09% of the market.
•  Arabs were net Buyers by 6.88 mn EGP and were 10.27% of the market.
•  Institutions were net Sellers by 17.45 mn EGP and were 33.49% of the market.
•  Retail were net Buyers by 17.45 mn EGP and were 66.50% of the market.

Kenya: NSE 20 +0.56%, USD 2m

The local players continued their domination of the Kenyan market today. Foreign players accounted for 40% of the buys but almost no sells. The lack of foreign participation meant that the market barely got to $2m worth of activity. The market opened stronger and was trading over a percent higher before pulling back in the last hour. The activity was spread around quite a few names with EQ the top trader accounting for 15% of the turnover. The counter lost -4.4% closing at KES21.75 off what appeared to be profit taking. Scom closed flat at KES 3.5.

Mauritius: Semdex +0.49%, USD 1.7m

Both the Semdex and the Sem-7 ended the day on the green. Turnover on the Sem-7 was mostly attributed to MC which saw 83,542 shares trade in the name 1.19% higher at Rs170. SBM was up 0.61% at Rs82.50 on 14,100 shares. ENL Land edged up 1.29% at Rs39.40. NMH was the sluggard of the day closing 0.755 in the red at Rs66.50. The Demex gained 0.35% to 148.56pts. The DEM’s turnover amounted to an a typically high Rs33.9m on the back of crosses of 55k Anglo Mauritius shares, 2.2% of its shareholding1.7% lower at Rs585. However, Anglo recouped its Rs10-loss back to Rs595 on a mere 100 shares. DRBC was exchanged at VWAP Rs30.38 (+4.8%) but closed at a lower Rs30.10 (+3.8%) while FUEL stood flat at Rs32.

Nigeria: ASI -0.17%, USD 8.5m

The market continues to trade thinly, still not able to get above $10m and closing lower too. The banking sector had a tough day -57bps with Zenith the most notable loser -1.29%. The only two banking names to close the session higher were ETI and Access, finishing +2.86 and +4.92% better off respectively. The Cement and conglomerate names saw almost no movement, PZ was the lone mover -0.19%. Dangote Flour was another name to have a tough session -1.96%.

South Africa: ALSI -0.87%, USD 1.5bn

The JSE had a tough day following the lead of international markets where stocks were down as European fears persist. The rand was also softer on the back of the weaker euro with investors waiting for fresh cues from the EU summit. The South African banks were the worst performers -1.48% whilst the resource names were far behind collectively closing -1.24% worse off. The golds and industrial index were the relative outperformers closing -0.16% and -0.36% softer respectively.

Zambia: LuSE -0.14%, USD 15k

Quiet day in Zambia with value traded amounting to USD 15k. The names that traded today included BATZ, CECZ, INVE, PMDZ, UMA, REIZ, SCBL, ZNCO and ZSUG. CECZ was the biggest contributor towards turnover with value traded in the name amounting to USD 9k. ZSUG was the second biggest contributor towards turnover with value traded in the name amounting to USD 1k.

Zimbabwe: Industrial Index -0.03%, Mining -5.73%, USD 2.1m

The industrial index pared 0.03% to 130.32pts weighed down by losses in Truworths and ZPI while losses in Rio and Falgold saw the mining index give up 5.73% to 76.84pts widening its YTD loss to 23.69%. Truworths was the worst performing stock after losing 25% of its value to hit a 52-week low of 3c albeit on thin volumes while ZPI dropped 10% to 0.9c. Bindura eased 2.81% to 3.11c as RIO retraced its steps southwards losing 22.5%or 9c to 31c as investors remain wary of the success of the group’s recapitalization plans.