Movers & Shakers: April 15, 2013

Botswana: DCI +0.08%, USD 2.42m

Another great day from an activity point of view in Botswana today with value traded amounting to a very pleasing USD 2.42. Crosses Choppies (2.69m shares), BIHL (495k shares) and Letshego (2m shares) drove activity with general market breadth also decent on the day. The market closed higher with the DCI gaining 0.08% to close at 8,551.93.

Egypt: EGX 30 -0.48%, USD 57m

The market witnessed notable selling today lead buy institutional investors (international), leaving the EGX30 to end the day down 0.48% to close at 5,275.04 points. Market volumes remains weak yet with a slight improvement to recent turnovers, the market traded a total turnover of USD 57m. The market witnessed notable profit booking lead mainly from international institutions targeting names such as CCAP, ESRS, and PHDC, each ending the day down 1.14%, 1.13% and 0.19% respectively, yet local investors (institutional and retail) ended the day as strong buyers benefiting from the various price hits targeting names such as COMI, APSW and EGTS each ending the day up 0.58%, 1.02% and 1.03% respectively. It’s worth mentioning that local institutions started the day as aggressive sellers, yet they ended the day as notable buyers.

Investor mix:
•  Foreigners were net Sellers by 28.81 mn EGP and were 31.81% of the market.
•  Egyptians were net Buyers by 32.24 mn EGP and were 62.64% of the market.
•  Arabs were net Sellers by 3.43 mn EGP and were 5.55% of the market.
•  Institutions were net Sellers by 7.85 mn EGP and were 42.96% of the market.
•  Retail were net Buyers by 7.85 mn EGP and were 57.03% of the market.

Kenya: NSE 20 -0.51%, USD 2.9m

The equities market started the week on a very sluggish note, extending losses made on Friday with the NSE 20 index slipping 51bps to 4,994.9 points. Equity turnover fell 48%, with foreign investor activity remaining subdued at 30% of trades. ARM was the day’s top mover accounting for 17% of trades with foreign investors accounting for over 90% of trades on both sides of the counter. The rest of the top movers were dominated by local investor trading. After witnessing a rally last week, Safaricom eased 1.5% to KES 6.40 on profit taking. Nation Media was the leading loser today dropping 14.4% to KES 338 as the counter went ex dividend and ex bonus today. Eveready and Liberty Insurance eased 7.1% and 2.6% to KES 3.25 and 12.95 respectively on profit taking following a rally in previous weeks. Uchumi and Kenya Re on the other hand gained 4.5% and 3% to KES 23 and KES 17.40 recouping mild losses made last week.

Mauritius: Semdex -0.54%, USD 443k

Very slow start to the week on the Island with value traded amounting to a rather dissapointing USD 443k. MCB accounted for the bulk of today's value traded as 25k shares changed hands with the name closing at 188.00. SBM followed it's banking peer lower and fell 0.96% to close at 1.03 on rather thin volume. There were two decent crosses in NMH as the name closed unchanged at 72.00.

Nigeria: ASI +0.57%, USD 33.42m

Another bullish day in Nigeria as the volumes and performance continue to impress. Banks were strong (BNK 10 +1.32%) as almost all names closed up nicely, led by UBA (+10%, N7.26). The exception was Zenith Bank which traded today ex-div thus traded at the level of 20.06 (officially down 7.39%). Access (+3.62%, N9.16) and ETI (+4.03%, N15.50) were also strong. Amongst the consumer stocks, NB was again extremely active with almost $5.5mill changing hands, the name eventually settling up 37bps at N162.60 while other consumer names were mixed, Nestle (-2.78%, N945) the worst of the lot.

South Africa: Top 40 -1.38%, USD 1.64bn

A tough day on the JSE as risk sentiment was clearly turned off. All sectors had a torrid day. The ZAR also had a tough day, at the time of writing the rand was trading at R9.12, R11.93 and R13.96 v the USD, EUR and GBP respectively.

Zambia: LuSE -0.01%, USD 131k

Another decent day (relatively speaking) in Lusaka with value traded amounting to USD 131k thanks to crosses in ZNCO and CEC. The names that traded included BAT, CEC, LAFA, PUMA, ZAMEFA, ZSUG and ZNCO. ZNCO was the biggest contributor towards turnover with value traded in the name amounting to USD 66k. CEC was the second biggest contributor towards turnover with value traded in the name amounting to USD 38k.

Zimbabwe: Industrials +0.06%, Mining unch, USD 1.59m

ZSE shares were little changed in the week's opening session where the main stream industrial index firmed by a marginal +0.06% to 188.43pts. The mining index on the other hand was flat at 65.75pts as the two stocks to trade in the resources side were stable at prior trading level. Relative to the last trading session the value of trades was down 5.7% at $1.59m with foreign demand in market heavyweights driving activity on the bourse. Inflows for the day amounted to $1.2m compared to just $61,446 worth of disinvestments recorded today. Retail group OKZIM emerged the market favorite after an estimated 4.6m shares exchanged hand in the stock in trades worth $828,304.87. Other stocks to see notable trades included Delta, Hippo and Innscor.

African Currencies