Movers & Shakers: September 29, 2014

Botswana: DCI +0.05%, USD 346k

Some activity in Letshego (1.2m shares) is the only name worth mentioning as the rest of the market was extremely quiet with turnover amounting to USD 346k.

Egypt: EGX 30 +1.84%, USD 76m

It was a good day in Egypt as the market closed in the green after three consecutive red sessions. The EGX30 gained 1.84% to close at 9779 points on average volumes of USD 76m. COMI surged 2.59%, leading market volumes with 1.3 million shares changing hands. Institutions accounted for 42% of market participation, with local institutions as net buyers worth EGP34 million. They mostly targeting real estate names: MNHD (+0.24%), TMGH (+0.97%), HELI (+1.1%), and OCDI (+9.9%), which traded ex-rights today. The rights will trade separately from October 1 to October 27. Buying appetite was also seen in ORWE (+7.4%) and ESRS (+2.02%). AMER (+3.6%) announced plans for a new development in Port Said.

Kenya: NSE 20 +0.78%, USD 8.1m

The split between foreign and local participation was relatively equal today with turnover amounting to a very solid $8.1m. KNCB (+0.9%) had a very good day from both a performance and activity point of view thanks to foreign participation. Foreign demand was not enough to buoy Safcom as the telco fell -0.9% on 7.49m shares. The usually illiquid ARM was rather active today as 767k shares changed hands. The route in EQBNK finally stopped today with the counter closing unchanged at KES 53.50.

Mauritius: Semdex +0.09%, USD 440k

A quiet day in Port Louis with nothing much to note. The Sem-7 grew by 12bps mostly on the back of SBM (+94bps, Rs1.07). There was some softness in MCBG (-24bps, Rs210.50) and Terra (-28bps, Rs36.00).

Nigeria: ASI +0.70%, USD 29.1m

A very solid start to the week from an activity point of view with turnover amounting to $29.1m thanks to some crosses in the likes of NB ($5.14m), GTB ($4.52m), Zenith ($4.03m), FBNH ($3.14m) and DangCem ($3.05m). Banks closed on the front foot with the Index gaining +0.65% thanks to strong moves higher in Zenith (+1.67%) and GTB (+1.12%). Consumers (+1.70%) had a very good day thanks to Guinness (+5.00%) and Nestle (+4.27%).

Please note that the index figure above is correct at the time of writing.

Zimbabwe: Industrials +0.37%, USD 1.9m

Activity returned while the Industrials gained 37bps. Delta reversed some of its recent weakness by gaining 78bps to 130c while Innscor fell by 74bps to 67.5c after the news that the company is to pay a $3.1m fine. There was some decent activity in Econet as trading in the telco accounted for almost half the total volumes.

African Currencies

Country

Notation

Currency

YTD %

South Africa

ZAR

11.29

-7.04

Nigeria

NGN

163.85

-2.17

Kenya

KES

89.30

-3.36

Mauritius

MUR

31.37

-4.21

Botswana

BWP

9.17

-5.56

Tanzania

TZS

1676.00

-5.13

Uganda

UGX

2645.00

-4.46

Rwanda

RWF

691.50

-2.24

Ghana

GHS

3.25

-26.93

BRVM

XOF

519.87

-7.65

Egypt

EGP

7.15

-2.85

Morocco

MAD

8.72

-6.23

Tunisia

TND

1.79

-8.32
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