Movers & Shakers: April 19, 2013

Botswana: DCI +0.17%, USD 490k

Crosses in the likes of BIHL (176k shares) and 45k Sechaba drove activity with value traded amounting to USD 490k as a number of the counters in the market traded. The market closed slightly higher with the DCI gaining 0.17% to close at 8,627.57.

Egypt: Closed for the day.

Kenya: NSE 20 -0.70%, USD 3.1m

Equity turnover fell 71.3% as a mismatch between offers and bids widened during the day. The share of activity was well matched between both local and foreign investors. Safaricom was the leading mover of the day accounting for 38.8% of the market. Investors reacted positively to industry data released in the previous day, and which showed an impressive improvement in the market share and overall performance of the telco across all business lines for the quarter to December 2012. The media sector was however on a losing streak with the leading decliners being media related companies, albeit on thin volumes. Generally, the market has shown a mild correction with investors realigning their portfolios in line with the reported and expected earnings. We think the naming of cabinet members next week may well prove to be a catalyst for the market as government officially opens for business with payment for large contracts currently suspended, then expected to be lifted.

Mauritius: Semdex -0.06%, USD 300k

Exceptionally quiet day in Mauritius today with value traded amounting to a very dissapointing USD 300k. NMH was the only name with some volume today as 60k shares traded in the counter. Both the major banking stocks MCB and SBM closed flat on the day.

Nigeria: ASI +0.32%, USD 15.81m

Very dull day from activity point of view in Lagos today with value traded amounting to a rather boring $15.81m. On a positive note, banking stocks managed to rebound after yesterday's sell-off with the Bank 10 Index gaining 1.22% thanks to the likes of Guaranty Bank (+3.91%) and UBA (+3.70%). Guaranty Bank and Stanbic released Q1 2013 results early in the day with the counters experiencing mixed fortunes as GTB rallied while Stanbic came under some pressure and fell 5.69%. Nigerian Breweries and Nestle were the only stocks that were active on the consumer front on a otherwise dull day in the sector as the Consumer Goods Index gained 0.15%.

South Africa: Top 40 +1.61%, USD 1.67bn

The JSE ended the day higher with the Top 40 Index gaining 1.61% to close at 33,842 while value traded amounted to USD 1.67bn. Resources were the day's biggest gainers with the Index gaining 2.50% followed by Financials and Industrials which gained 1.18% and 1.17% respectively. The Rand was trading at 9.21 and 12.06 to the USD and EUR respectively by the time local markets closed.

Zambia: LuSE +0.77%, USD 24k

Back to normal in Lusaka after a few days of excitement with value traded amounting to a dissapointing USD 24k. The names that traded included BAT, CEC, LAFA, ZSUG and ZNCO. LAFA was the biggest contributor towards turnover with value traded in the name amounting to USD 11k. ZNCO was the second biggest contributor towards turnover with value tradedin the name amounting to USD 6k.

Zimbabwe: Industrials -0.01%, Mining unch, USD 1.55m

The ZSE industrial index recorded a loss of 0.01% after taking a break for the independence day holiday yesterday, closing today’s call at 188.63pts. The mining index remained unchanged at 67.17pts despite improved demand that saw 252,792 shares trade in Bindura. Total value traded surged 193% to $1.55m, with Econet and Delta contributing 37% and 30% of value respectively. Volumes traded were 54% lower at $4m. foreign participation improved 165% on previous call’s value with foreign inflows worth $1m recorded in today’s trade. Weighing down the market were losses in Econet, which continued on a free fall on selling pressure, losing 4% to settle at 64c.

African Currencies