Movers & Shakers: April 10, 2012

Botswana: DCI Unch, Vols USD 90k

The DCI remained unchanged recording vols of USD 90k today. Vols were concentrated in Letshego which accounted for 90% of the day's turnover with 380,642 shares trading in the name at 150t. Stanchart the only mover of the day, ended 3t in the green at 915t on very thin volume. Barclays was unchanged at 710t. Choppies remained level at 145t.

Egypt: EGX 30 -0.76%, Vols USD 57m

The market managed to end the day in negative territory, leaving the EGX30 to end the day down 0.76%, to close at 4558.61 points. Volumes were within resent average volumes, market traded a total turnover of USD 57M. The market started the day with a positive sentiment , to trade 0.74% higher to reach a high of 455861 points, yet by med-session the market witnessed notable selling pressure bringing down the EGX30 to reach a low of 4552.61 points, the main sellers were local retail investors this is attributed to the negative news regarding EMOB which stated that the deal with FT might not go throw due Egyptian foreign ownership laws, also that According to article 330 in the capital market law, states that once an entity announces its intention to place a tender offer on a listed company, they have to complete the required documentation within 60 days from the date of announcement, or else the EFSA will have the right to reject the offer for 6 month unless a valid reason for the delay is provided, FT has until 8th of May 2012 to submit the required documents to EFSA. EMOB ended the day down 7.04% to close at EGP161.53 on volumes of 193k shares.

Investor mix:
•  Foreigners were net Sellers by 5.17 mn EGP and were 21.02% of the market.
•  Egyptians were net Buyers by 18.04 mn EGP and were 71.27% of the market.
•  Arabs were net Sellers by 12.87 mn EGP and were 7.70% of the market.
•  Institutions were net Buyers by 29.09 mn EGP and were 39.54% of the market.
•  Retail were net Sellers by 29.09 mn EGP and were 60.45% of the market.

Kenya: NSE 20 -0.12%, Vols USD 4.1m

The day after investors returned from the long Easter weekend started slowly, exacerbated by technical issues on the NSE which delayed the pre-open and also open. Activity did pick up during the session however, with crosses in Safcom leading the way – 60mill trading in the name with both buy and sell side dominated by foreign participants with Safcom closing down -1.56% at KES 3.15. EABL was also active with 229k trading and the name closing up 50bps at KES 202 with foreign participants again being almost 100% of both sides. EQBNK was relatively subdued with just 2mill shares trading to close +52bps at KES 19.50. The biggest drag on the index was ARML, which closed down 10% at KES 160 although this can be deceiving as only 100 shares traded in the name. Foreign purchases accounted for $3.25m of total purchases while foreign sales accounted for $3.22m of total sales.

Mauritius: Semdex -0.08%, Vols USD 1.4m

The market ended the day in opposite directions with the Semdex down 0.08% while the Sem-7 traded 0.14% higher. Rogers and MCB accounted for 68% of the official turnover. MCB traded 0.60% higher at Rs167 on 78,195 shares. Rogers lost 0.58% at Rs343 on 1,900 shares, recording a cross of 7k shares at the same level. SBM traded unchanged at Rs81.50. Lux recouped part of its recent losses, ending the day at 0.48% higher at Rs21.10.

Nigeria: ASI -0.31%, Vols USD 12.48m

Rather dull start to the trading week in Lagos with value traded amounting to a disappointing $12.48m. it seems that investors were happy to sit on the sidelines as developed markets came under some serious pressure. Nigerian Breweries was once again rather active with a few decent sized crosses going through in the name, a total of 2.02m shares traded. Zenith and Guaranty were the top contributors towards volume yet again, with quite a bit of foreign interest in the names. The market closed lower with the ASI falling 0.31% to close at 20,788.55 while the Bank10 Index fell 0.82%. Unfortunately there was not much to report on the news front in Nigeria today.

South Africa: Top 40 -0.40%, Vols USD 1.55bn

The JSE ended the day lower with the Top 40 Index falling 0.40% to close at 29,636 while value traded amounted to USD 1.55bn. Resources were the day's biggest losers with the Index falling 1.42% while Financials and Industrials gained 0.39% and 0.19% respectively. The Rand was trading at 8.02 and 10.48 to the USD and EUR respectively by the time local markets closed.

Zambia: LuSE -0.10%, Vols USD 623k

Rather active day in Zambia today with value traded amounting to USD 623k thanks to a large cross in CECZ. The names that traded included BATA, CECZ, FQMZ, INVE, NATB, PUMA, SCBL, ZMBF, ZNCO and ZSUG. CECZ was the biggest contributor towards turnover with value traded in the name amounting to USD 605k. FQMZ was the second biggest contributor towards turnover with value traded in the name amounting to USD 4k.

Zimbabwe: Industrials -0.38%, Mining -0.78%, Vols USD 326k

The market remained in a holiday mood with $326,469 worth crossing the floor today. The industrial index lost -0.38% or 0.51pts to 135.99pts while the mining index eased -0.78% or 0.78pts to 88.51pts after Rio lost 3.33% to 58c. Six counters traded in red with financial stocks being the worst performing stocks after TN, Barclays and CBZ traded weaker. TN lost -4.21% to 3.64c on selling pressure while Barclays and CBZ pared -0.1c and -0.01c to 3.9c and 7c respectively. Edgars lost -3.61% to 8c and Seedco dropped -1.96% or -2c to 100c. Only two stocks TA and Econet managed gains. The investment conglomerate, TA put on 3.45% to 15c while Econet added 1.32% or 5c to 385c.