Movers & Shakers: April 11, 2013

Botswana: DCI +0.51%, USD 274k

A rather average day in Gaborone with value traded amounting to USD 274k as Choppies dominated trading thanks to a small cross. Market breadth was decent as there were a number of names that traded but on very small volume. Market heavyweight Letshego was extremely quiet today.

Egypt: EGX +1.52%, USD 64m

The market continued with its bullish sentiment today lead by notable buying form local institutional investors, leaving the EGX30 up 1.52% to close at 5,231.47 points. Market volumes significantly improved relative to recent market turnovers, the market traded a total turnover of USD 64m. The market witnessed notable buying this was mainly from local institutional after news that Egypt will receive USD 5bn in CBE's deposits coming from Qatar and Libya to boost investor interest and confidence, a sense of optimism has spread over the market were names such as COMI, ESRS and ORTE witnessed above average volumes leaving each to end the day up 1.50%, 2.80% and 1.32% respectively. The real-estate sector continues to witness aggressive buying, with names such as PHDC, OCDI and TMGH witnessed decent volumes to end the day up 5.97%, 1.85% and 4.88% respectively.

Investor mix:
•  Foreigners were net Sellers by 43.42 mn EGP and were 25.29% of the market.
•  Egyptians were net Buyers by 41.87 mn EGP and were 64.43% of the market.
•  Arabs were net Buyers by 1.54 mn EGP and were 10.28% of the market.
•  Institutions were net Buyers by 11.85 mn EGP and were 43.08% of the market.
•  Retail were net Sellers by 11.85 mn EGP and were 56.94% of the market.

Kenya: NSE 20 +0.76%, USD 5.1m

The equities market sustained its positive momentum with the NSE 20 index climbing 0.76% to cross the 5000 points mark closing at 5027.90 points. Equity turnover remained largely unchanged at USD 5.1m, with foreign investor participation dropping to 28.3% of trades compared with 55% in the previous session. KCB led the top mover list accounting for 14.6% of trades on strong local investor demand. Safaricom extended its gains climbing 1.6% to KES 6.55, with foreign investors accounting for over 90% of its demand. Similarly Nation Media maintained its momentum gaining 3.1% to a new 12 month high of KES 398. KenolKobl recouped losses it made in the previous session when it touched a new 12 month low, climbing 6.2% today to close at KES 10.30. Liberty Insurance continued to see strong demand edging up 8.6% to a new 12 month high of KES 13.90. On the losing end Access continued to witness profit taking easing 3.4% to KES 8.65. Transcentury announced FY12 performance figures at the close of trading posting a 26% y/y rise in EPS to KES 1.66 and 60% y/y rise in DPS to KES 0.40 per share.

Mauritius: Closed for the day.

Nigeria: ASI -0.23%, USD 29.94m

There was a definite feeling that the selloff in banking stocks over the last two days was overdone and this manifested itself by means of a rally in the sector today as investors sought after some value at lower levels with the Bank 10 Index gaining 1.35%. The rally was lead by the likes of Diamond Bank (+8.29%), Zenith Bank (+3.81%) and ETI (+3.98%). There were however some banking names that came under pressure with Access (-2.45%) and First Bank (-2.01%) all both feeling the wrath of aggressive sellers. Guaranty Bank went ex-divvy today and therefore could only trade at one price (N23.79, -5.18%). The recent volatility in the sector is expected to continue over the next few days. Nigerian Breweries continued to slide today and closed at 164.05 (-2.35%).

South Africa: Top 40 +0.10%, USD 1.39bn

The JSE ended the day higher with the Top 40 Index gaining 0.10% to close at 34,462 while value traded amounted to USD 1.39bn. Industrials were the day's biggest gainers with the Index gaining 0.77% followed by Financials which gained 0.63% while Resources fell 1.26%. The Rand was trading at 8.89 and 11.67 to the USD and EUR respectively by the time local markets closed.

Zambia: LuSE -0.46%, USD 50k

Activity slowed down drastically today with value traded amounting to USD 50k. The names that traded included BAT, CEC, LAFA, REIZ, ZAMBREW and ZNCO. CEC was the biggest contributor towards turnover with value traded in the name amounting to USD 14k. BAT was the second biggest contributor towards turnover with value traded in the name amounting to USD 10k.

Zimbabwe: Industrials -0.19%, Mining -0.82%, USD 910k

In yet another weak trading session the industrial index suffered further losses retreating 0.19% dragged down by heavy cap losses. Telecoms giant Econet shed 1.47% to close at 67c, while Innscor traded lower at 87c after losing 2c. The losses countered the gains realized in Delta and Colcom after both gained 0.81% and 2.38% to close today’s call at 123c and 26c respectively. Total value traded was $0.91 a 49.4% improvement from yesterday. Foreign demand improved 290% from a relatively lower base of $0.32m. The mining index likewise also retreated southwards dropping 82bpts to close at 65.39pts.

African Currencies