Movers & Shakers: December 16, 2013

Kenya: NSE 20 -0.02%, USD 9.1m

After a break for the long weekend we saw foreign participation come back with a vengeance today although most of the volume was still in blocks. Foreign activity was skewed to the buy side particularly in names like EABL, Safcom, Equity Bank and Coop Bank although all of these names actually closed down for the day. EABL remains vulnerable and slipped a further 1% to KES 291 in today’s session while Safcom lost 50bps to KES 10.00.

Nigeria: ASI +2.22%, USD17.8m

A massive 10% outperformance in Dangote Cement drove the index higher by 2.22% despite weakness in almost all other names. Dangote Cement closed at N220 (+10%) although on relatively thin trading. Banks shed 45bps with most of this coming from Zenith (-2.5%, N21.30) as most other names were generally unchanged. Zenith, GTB and ETI all saw some decent crosses. Consumers lost 83bps for the day with weakness in Cadbury (-4.55%, N63), Unilever (-4.99%, N54.61), PZ (-2.65%, N35.63) and Guinness (-3.14%, N247). Transcorp had another active day before settling down 1% at N3.96 on good volume.

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