Movers & Shakers: April 23, 2012

Botswana: DCI Unch, Vols USD 11k

A rather quiet day in Gabrone today with only USD 11k changing hands. No movement was recorded today. Letshego 32,268 shares traded at 150t. 22,222 Cresta traded at 95t. Olympia, Primettime and Sefalana traded at 25t, 191t and 275t respectively.

Egypt: EGX 30 +2.48%, Vols USD 130m

The market managed to continue to rally today, the EGX 30 traded 2.48% higher to close at 4948.78 points. Volume improved notably, with turnover amounting to USD 130m. With the long awaited catalyst needed to drive the market higher, the EFSA finally approved FT's tender offer for EMOB at EGP202.5, EMOB and OTMT resumed trading after the news was announced, both names lead the market in terms of volumes, each ending the day up 6.25% and 4.17% to close at EGP191.72 and EGP1.50 respectively. It worth noting that the Real estate sector continued to surge after taking the strongest hit in the recent sell-offs, names such as TMGH, PHDC and OCDI ended the day up 2.71%, 1.71% and 5.10% respectively.

Investor mix:
•  Foreigners were net Sellers by 120.48 mn EGP and were 28.71% of the market.
•  Egyptians were net Buyers by 119.79 mn EGP and were 61.57% of the market.
•  Arabs were net Buyers by 0.693 mn EGP and were 9.72% of the market.
•  Institutions were net Sellers by 16.10 mn EGP and were 46.63% of the market.
•  Retail were net Buyers by 16.10 mn EGP and were 53.36% of the market.

Wednesday 25th of April is a public holiday, market will be therefore closed, trading to resume on 26th of April.

Kenya: NSE 20 +0.47%, Vols USD 6.85m

Good start to the week from an activity point of view with value traded amounting to a rather pleasing $6.85m. This is however largely as a result of a big cross that went through in EABL just before the close of 1.2m shares at 216 with both the buyer and seller being foreign. There was also a decent amount of foreign interest in Equity Bank with a total of 5.02m shares changing hands at an average price of 20.0253 for the day. Safcom was another counter that was rather active with a total of 19.07m shares trading in the name after the company came out saying that collaboration is needed with rivals so that the costs of building a fibre-optic network can be contained. Foreigners were net buyers accounting for $5.81m of total purchases while they accounted for $4.53m of total sales. In other news the U.S. Embassy in Kenya said it received “credible” information about a possible attack on hotels and government buildings in Nairobi.

Mauritius: Semdex +0.12%, Vols USD 1.3m

Turnover stood at USD 1.3m, driven mainly by MCB. The banking stock witnessed several crosses resulting in a total of 189,469 shares trading at Rs165. SBM was unchanged at Rs81.50 on 1,800 shares. On the hotel front, NMH edged up 0.71% to Rs71. Lux was up 0.5% to Rs21.10. Terra traded level at Rs39.50. IBL lost 0.65% at Rs77.

Nigeria: ASI +0.10%, Vols USD 21.13m

A solid start to the week in Nigeria with $21.13mill trading, while the index was led higher once again by the banking sector (BNK10 +68bps). UBA led the way with the name trading limit up on decent volume and closed +5% at N2.95 with a strong bid. ETI saw a big cross go through at N12 while First Bank saw some weakness after last week’s fireworks and closed down -1.09% at N10.88. GTB also saw some selling with the name closing down 45bps at N15.65 on good volume. In the consumers, NB saw activity around the N110 level with the name closing up marginally at N110 while other names were relatively quiet. IBTCCB had a poor day today closing down 4.7% on weak volume. This was ahead of 2012 Q1 numbers which came out after the session – at first glance the numbers look good, brief summary below:

South Africa: Top 40 -1.66%, Vols USD 1.32bn

The JSE followed world markets lower with the Top 40 Index falling 1.66% to close at 29,686 while value traded amounted to USD 1.32bn. Financials were the day's biggest losers with the Index falling 1.99% followed by Resources and Industrials which fell 1.95% and 1.17% respectively. The Rand was trading at 7.86 and 10.32 to the USD and EUR respectively by the time local markets closed.

Zambia: LuSE -0.50%, Vols USD 61k

Quiet day in Zambia with value traded amounting to USD 61k. The names that traded included AELZ, CECZ, SCBL, ZMFA, ZNCO and ZSUG. SCBL was the biggest contributor towards turnover with value traded in the name amounting to USD 35k. ZNCO was the second biggest contributor towards turnover with value traded in the name amounting to USD 20k.

Zimbabwe: Industrial -0.01%, Mining +2.35%, Vols USD 890k

The Industrial index commenced the week on a flat note, with the index down 0.01%. Major trades in SeedCo and Meikles saved the day as market turnover fell below the $1m mark to $890,193. Reflecting the lack of liquidity in the market a special bargain of 337 335 Seedco worth $303,601 was crossed between foreign investors at 90c with just 4900 shares in normal trades at 89.99c while a block of 3.2m Meikles was also crossed between foreign investors. Trading in the negative was Seedco and DZL down 0.01c apiece to 89.99c and 16.99c respectively. CFI eased -7.41% to 5c, Zimpapers pared 4.76c to 1c while Afdis completed the losers’ list after shaking 4.08% to 11.99c. PPC and TN were the only industrial stock to record gains. TN rose 2.56% to 4c while PPC added 0.38% to 261c. Gains in Bindura and Rio helped the Minings higher after rising 2.35% to 90.16c. Bindura rose 17.33% to 3.52c buoyed by reports that parent company Mwana Africa shareholders approved a share sale to raise $35m earmarked for the revival of Trojan Nickel Mine.