Movers & Shakers: April 29, 2013

Botswana: DCI +0.17%, USD 451k

Decent day in Gaborone with value traded amounting to USD 451k thanks to crosses in Letshego (680k shares) and FNBB (400k shares). Market breadth was however very thin as only a handful of names traded.

Egypt: EGX 30 -0.63%, USD 27m

The market witnessed notable selling today lead buy institutional investors (international and GCC), leaving the EGX30 to end the day down 0.63% to close at 5,198.91 points. The market continues to trade very weak volumes compared to average turnover, the market traded a total turnover of USD 27m. The market traded the day with a negative sentiment lead by continues selling from international and GCC institutions were names such as TMGH, HRHO and ESRS witnessed notable selling each ending the day down 1.73%, 1.47% and 1.28% respectively, the negative sentiment came after a local news paper quoted head of Finance Ministry’s tax division regarding OCI tax issue saying that "Talks with tax authority over EGP14b claim linked to the sale of co.’s cement unit and the issue referred to prosecutor general for investigation” hence creating a overhang on the market. It’s worth mentioning that JUFO was one of the few names that ended the day in the greens, ending the day up 0.25% on above average volumes.

Investor mix:
•  Foreigners were net Sellers by 33.38 mn EGP and were 38.34% of the market.
•  Egyptians were net Buyers by 34.49 mn EGP and were 56.58% of the market.
•  Arabs were net Sellers by 1.11 mn EGP and were 5.08% of the market.
•  Institutions were net Sellers by 25.89 mn EGP and were 48.05% of the market.
•  Retail were net Buyers by 25.89 mn EGP and were 51.94% of the market.

Kenya: NSE 20 -0.47%, USD 3.3m

The market started the week on a slow note with turnover slipping 2.5% to USD 3.3m. Foreign investors accounted for 63% of trades today compared with 25% in the previous session. The NSE 20 index continued to weaken easing 0.47% to 4763.1 points, with 12 of the counters traded gaining and 21 declining. Buoyed by strong foreign investor demand, EABL (+1%) was the day’s top mover accounting for 38% of volumes. Of the other top movers, foreign investors were net buyers in Safaricom and KCB and net sellers in Equity Bank, Nation Media and Kenya Airways. Safaricom Sustained its momentum climbing further 0.8% to touch a new 12 month high of KES 6.70, ahead of FY12 earnings announcement expected in coming weeks. Driven by local investor demand, Access Kenya extended its gains edging up 7.4% to close at a new 12 month high of KES 10.10. On the losing end, Insurance stocks were on a losing streak with Britam, Kenya Re, Pan Africa, and CIC easing 4.1%, 2.1%, 1.6%, and 2.9% respectively. Uchumi extended its losses on profit taking slipping 3.8% to KES 19.80.

Mauritius: Semdex +0.39%, USD 807k

Relatively slow start to the week in Mauritius with value traded amounting to USD 807k. SBM lead in terms of activity thanks to crosses of 5m shares and 2.93m shares at 1.03 while the name closed lower at 1.02. MCB was relatively quiet as a total of 16k shares traded in the name. There was a cross of 130k shares in Alteo at 37.00.

Nigeria: ASI -0.25%, USD 17.23m

Dissapointing start to the week with value traded amounting to a rather dull $17.23m as trade was once again dominated by a few crosses. Nigerian Brewweries was the main driver behind activity thanks to a large cross of 1.9m shares at 160.00 while the consumer sector ended in positive territory with the Consumer Goods Index gaining 0.49%. Guinness ended the day stronger and was very active thanks to a large cross. Banks ended the day stronger with the Bank 10 Index gaining 0.31% lead higher by the likes of Access (+4.06%) and First Bank (+1.68%). FCMB came under pressure (-8.51%) after releasing FY 2012 results which seemed to dissapoint the market.

South Africa: Top 40 -0.18%, USD 1.94bn

The JSE ended the day lower with the Top 40 Index falling 0.18% to close at 34,363 while value traded amounted USD 1.94bn. Resources were the day's biggest losers with the Index falling 0.49% followed by Financials which fell 0.09% while Industrials gained 0.05%. The Rand was trading at 8.98 and 11.75 to the USD and EUR respectively by the time local markets closed.

Zambia: LuSE +1.34%, USD 351k

Decent start to the week in Lusaka with value traded amounting to USD 351k thanks to a cross in SCB. The names that traded included AELZ, CEC, LAFA, PUMA, SCB, ZAMEFA, ZNCO and ZSUG. SCB was the biggest contributor towards turnover with value traded in the name amounting to USD 318k. ZAMEFA was the second biggest contributor towards turnover with value traded in the name amounting to USD 12k.

Zimbabwe: Industrials +0.37%, Mining +1.38%, USD 1.75m

The bourse trekked higher after a reported improved number of foreign exhibitors at this year’s edition of the Zimbabwe International Trade Fair (ZITF) which ended over the weekend in Bulawayo. The mainstream industrial index scratched 0.37% to close at 189.64pts while the mining index gained 1.38% to close at 71.52 basis points. Liquidity was significantly improved by 211% to $1.75m on the back of a sustained demand in Econet at current price of 61c. Volume traded took a simultaneous 110% increase to $6.37m. Foreign demand took an upsurge of 614% while on the selling side there was a 309% increase to $0.957m. Cement manufacturer Lafarge led the gainers of the day consolidating 12.5% to close at 90c its highest this year after reporting improved earnings in the full year to December 2012.

African Currencies