Movers & Shakers: December 27, 2013

Kenya: NSE 20 +0.01%, USD 4.3m

Despite low volumes as expected there was actually an increase in foreign participation. The usual suspects saw the bulk of these flows with EABL (unch, KES 290), Safcom (-90bps, KES 10.75) and KNCB (+1.1%, USD 46.75) all enjoying foreign action on both sides of the equation. Equity Bank got hurt by foreign selling yet still ended the day unchanged at KES 31.00.

Nigeria: ASI +0.94%, USD 15m

A quiet day yet a couple of crosses helped volumes to a respectable USD15m. Strong buying in the banks (+80bps) and consumers (+80bps) helped the index rise. Most of the banking strength was in FCMB which closed up 9.5% at N3.81 on decent volumes while ETI (+3.19%, N16.50) and Fidelity (+2.77%, N2.60) were also strong. Consumers were led higher by Intbrew which gained 5% to N29.09 and NB which rose by 1.33% to N164. Nestle showed modest gains of 1.26% to N1200. In the consumers, Wapco gained 3.46% to N115 on good volumes.

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