Movers & Shakers: April 09, 2013

Botswana: DCI +0.24%, USD 3.21m

Letshego completely dominated activity today thanks to two large crosses in the name as a total of 10m shares changed hands. Other than Letshego there is not much to report as market breadth was rather thin.

Egypt: EGX +0.87%, USD 37m

The market continued with its bullish sentiment today lead by notable buying form local institutional investors, leaving the EGX30 up 0.87% to close at 5,157.15 points. The market continues to trade very weak volumes compared to average turnover, the market traded a total turnover of USD 37m. The market witnessed notable buying this was mainly attributed to the news that the 10% capital gain tax won't be implemented and that taxes collected from the NSGB/QNBK deal will be refunded to shareholders, adding to this the attractive prices the stocks have reached after the notable selling witnessed last week. The real-estate sector witnessed a notable buying apatite after witnessing notable selling last week, name such as HELI, TMGH and PHDC managed to end the day up 2.52%, 1.60% and 1.55% respectively.

Investor mix:
•  Foreigners were net Buyers by 15.13 mn EGP and were 14.98% of the market.
•  Egyptians were net Sellers by 9.69 mn EGP and were 79.38% of the market.
•  Arabs were net Sellers by 5.41 mn EGP and were 5.63% of the market.
•  Institutions were net Buyers by 7.56 mn EGP and were 70.57% of the market.
•  Retail were net Sellers by 7.56 mn EGP and were 29.42% of the market.

Kenya: Market closed today for the inauguration of Uhuru Kenyatta.

Mauritius: Semdex unch, USD 361k

Another alarmingly quiet day in Mauritius with value traded amounting to a dissapointing USD 361k. The two major banking stocks MCB and SBM came under some selling pressure, falling 0.26% and 0.96% respectively while Bramer Bank rallied a rather impressive 2.74%. There was a cross of 56k shares in Alteo Limited at 36.60 near the end of the session.

Nigeria: ASI -2.08%, USD 28.71m

Decent day in Lagos from an activity point of view as PZ CUSSONS got things going thanks to a large cross of 15m shares at 38 where the seller was foreign while the buyer was local. Banks came under some serious pressure today leading the market lower with the Bank 10 Index falling 2.60%. Diamond Bank released results and announced that they will not be paying a dividend and therefore was the worst performer (-10.00%) followed by the likes of UBA (-9.99%), Fidelity (-9.67%) and Access (-7.47%). On the consumer front Nigerian Breweries had a rather solid day and manage to gain 3.65% while Unilever bounced 3.69%.

South Africa: Top 40 -0.16%, USD 1.62bn

The JSE ended the day lower with the Top 40 Index falling 0.16% to close at 33,930 while value traded amouted to USD 1.62bn. Industrials were the day's biggest losers with the Index falling 1.42% followed by FInancials which fell 0.18% while Resources gained 2.03%. The Rand was trading 8.92 and 11.66 to the USD and EUR respectively by the time local markets closed.

Zambia: LuSE +1.13%, USD 8k

Another quiet day in Lusaka with value traded amouting to a paltry 8k. The names that traded included AELZ, CEC, PUMA, ZSUG and ZNCO. With such low liquidity there was unfortunately nothing to report on today's session.

Zimbabwe: Industrials +1.53%, Mining -1.23%, USD 3.42m

Bullish sentiment prevailed on the ZSE today Buoyed by huge foreign appetite in a select few blue chips. Inflows for the day surged 174% to $2.9m while outflows remained relatively flat with a marginal +4.8% improvement on yesterday to $0.9m. Resultantly values for the day were up +176.6% up at $3.42m with Econet emerging the market favorite as 3,023,661 units in the stock exchanged hands yielding $2.1m almost 62% of the value traded for the day. Volumes got a boost from a 10m share block in property group ZPI that sailed through the market today bringing total market volume to 19.4m shares. Gains in thirteen stocks saw the main stream industrial index close +1.53% up at 189.02% driven largely by gains in beverages group delta that was 4.5% firmer at 122.01c on active bidding. Gold miners Falgold weighed on the mining index after losing -18.18% to 9c leaving the mining index 1.23% softer 65.99pts by close of call. The rest of the mining stocks BINDURA, HWANGE and RIOZIM closed flat.

African Currencies