Movers & Shakers: April 30, 2013

Labour Day Holiday:

PLEASE NOTE THAT OUR OFFICES WILL BE CLOSED TOMORROW 1 ST OF MAY DUE TO THE LABOUR DAY HOLIDAY. WE CAN BE REACHED ON trading@securitiesafrica.com

Botswana: DCI unch, USD 1.73m

Much better day in Botswana today with value traded amounting to USD 1.73m thanks to a cross of 5m Letshego at 258. There was also some activity in BIHL as 70k shares changed hands, other than that the market was rather dull.

Egypt: EGX 30 -0.05%, USD 30m

The market traded with a mixed sentiment today to end the day in negative territory, leaving the EGX30 to end the day down 0.05% to close 5,196.48 points. The market continues to trade very weak volumes compared to average turnover, the market traded a total turnover of USD 30m. The market started the day was a notable negative sentiment to reach a low of 5198.57 points this was mainly lead by notable selling from international institutions, yet after an hour trading a wave of buying interest is evident to reach a high of 5217.36 points, with locals taking the lead after news emerged on OCIC on a local news website stating that preliminary agreement has been reached with the tax authority on paying a tax of EGP7.1bn with a first tranche of EGP2.5bn and the rest over 10 installments and to freeze the case with the general prosecutor and settle it with company, the former was suspended in the last 10 min of session and canceled all executions on OCIC today. Names such as EFIC, ORTE and PHDC managed to gain investors interest and buck the trend to end the day up 1.04%, 0.65% and 0.47% respectively, yet names such as EGTS, HRHO and TMGH witnessed notable selling to end the day down 2.13%, 1.00% and 0.75% respectively.

Investor mix:
•  Foreigners were net Sellers by 18.95 mn EGP and were 35.81% of the market.
•  Egyptians were net Buyers by 21.55 mn EGP and were 57.53% of the market.
•  Arabs were net Sellers by 2.59 mn EGP and were 6.66% of the market.
•  Institutions were net Sellers by 16.40 mn EGP and were 43.95% of the market.
•  Retail were net Buyers by 16.40 mn EGP and were 56.04% of the market.

Kenya: NSE 20 +0.04%, USD 6.9m

The Equities market was upbeat today with equity turnover climbing 108% to USD 6.9m. The NSE 20 index also recovered, edging up slightly 0.04% to close at 4765.2 points. Buoyed by local investor trading, KCB was the day’s top mover accounting for 45% of volumes. The bank climbed 1.2% to KES 42, ahead of 1Q13 performance figures expected in the coming week. Safaricom was also actively traded, with foreign investors accounting for over 90% of its demand. The counter sustained its momentum edging up 2.2% to close at a new 12 month high of KES 6.85. Safaricom is expected to release strong FY13 earnings on 14th May. Liberty Insurance reversed previous session losses, gaining 6.9% to KES 12.45. On the losing end, Access Kenya witnessed mild profit taking after touching new high yesterday, easing 0.5% to KES 10.05. NIC bank slipped 0.96% to KES 51.50. At the close of trading, the counter posted a 20%y/y rise in 1Q13 EPS.

Mauritius: Semdex +0.32%, USD 985k

Better day in Mauritius from an activity point of view but still not able to breach the 1m mark with value traded amounting to USD 985k. Blue chip banking stocks drove the market higher with MCB and SBM gaining 0.26% and 0.98% respectively. NMH was the main driver behind activity thanks to a few crosses as foreigners accounted for 99% of purchases in the counter.

Nigeria: ASI +1.26%, USD 24.71m

The market closed late after trading was halted for over an hour due to technical issues. Please note that some of the data in the report might not be accurate due to these technical issues. Activity increased today with value traded amounting to $24.71m. First Bank released FY 2012 results which dissapointed the market as the name closed 6.42% lower and was the most active counter on the day ($4.36m). Banking stocks in general however managed to close in positive territory with the Bank 10 Index gaining 0.24% thanks to Stanbic (+2.19%), Access (+2.95%) and FCMB (+4.65%). Access was also amongst the biggest contributors towards value traded thanks to a few large crosses early on with value traded in the name amounting to $4.22m. Consumer stocks were very strong with the Consumer Goods Index gaining 1.48%.

South Africa: Top 40 -0.86%, USD 1.75bn

The JSE ended the day lower with the Top 40 Index falling 0.86% to close at 34,068 while value traded amounted to USD 1.75bn. Resources were the day's biggest losers with the Index falling 2.20% followed by Industrials which fell 0.46% while Financials gained 0.41%. The Rand was trading at 8.98 and 11.81 to the USD and EUR respectively by the time local markets closed.

Zambia: LuSE +0.45%, USD 39k

Quiet day in Lusaka today as value traded amounted to USD 39k. The names that traded included AELZ, CEC, FQMZ, ZNCO and ZSUG. AELZ was the biggest contributor towards turnover with value traded in the name amounting to USD 18.8k. ZNCO was the second biggest contributor towards turnover with value traded in the name amounting to USD 18.6k.

Zimbabwe: Industrials +0.01%, Mining unch, USD 760k

The ZSE closed today’s call in the black ahead of May day public holiday tomorrow albeit on marginal gains. The mainstream industrial index was up 0.01% to 189.66 while the mining index remained unchanged as news on B.N.C unbundling failed to create any inducement among the resources. Activity was relatively low with total value traded declining 57% to $0.76m on subdued foreign participation with paltry foreign sales worth $0.3m exchanging hands. Volume traded likewise plummeted 47% to 3.37m shares as investors slowdown ahead of aforementioned workers holiday.

African Currencies