Movers & Shakers: December 23, 2013

Kenya: NSE 20 +0.02%, USD 3.2m

As expected in Christmas week we saw very quiet activity on the Nairobi bourse. Foreign participation was also extremely low and skewed to the sell side. Foreign selling in Equity Bank continues to hurt the bank (-1.6%, KES 31.00) while KNCB remains solid at KES 44.00 as foreign investors participate heavily on both sides of the equation. A large local cross in the little traded Williamson Tea was one of the most active names for the day illustrating the overall lack of interest.

Nigeria: ASI +0.87%, USD 13.3m

A dull start to Christmas week as foreign investors largely lacking from general market activity. On days like this it is always difficult to make general comments on market sentiment. However, banks rose by 1.1% with strong buying across the entire sector while Consumers were marginally higher with strength in Glaxo (+5%, N65.62) and NB (+2.17%, N165) offset by weakness in Guinness (-1.67%, N236), Cadbury (-2.56%, N60.88) and Intbrew (-3.33%, N29).

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