Movers & Shakers: February 01, 2013

Botswana: DCI +0.19%, USD 203k

Letshego back to the top of the pile in terms of activity thanks to a cross with 739k shares traded over the session. It was rather dull in terms of market breadth as value traded amounted to USD 203k while the market closed in positive territory with the DCI gaining 0.19% to close at 7,795.73.

Egypt: Closed for the day.

Kenya: NSE 20 +0.09%, USD 12.2m

Buoyed by a block trade on Safaricom, equity turnover climbed 176.6% to KES 12.2m. Foreign investor participation quickened to 73.6% from 32.5% in the previous session. The benchmark NSE 20 share index was broadly unchanged. Foreign investors were particularly active on both buying and selling, with most of the blocks executed between foreigners. Safaricom was the top mover, accounting for 58.1% of turnover after being quiet in the previous session. Most of the selling by foreigners was taken up by other foreigners while the rest was supplied to the local investors. The relatively large trade coincided with the gazettement of a new 10% financial services excise tax which affects mobile money transfer services. The notice effectively marks the start of the tax which affects all fees and commissions charged on financial transactions (including banks). The other leading movers of the day were broadly unchanged for the day while others saw a modest decline. The leading gainers and losers were on thin volumes.

Mauritius: Closed for the day.

Nigeria: ASI +1.76%, USD 21.88m

The start of a new month and more of the same in naija. The Banking sector started the month on fire (BNK10 +2.11%) which for us is an indication of yet more inflows into the asset class. All banking names closed in the green. Consumer names were more mixed. Nestle closed down 2.38% at N819.99 on good volume while NB closed up 2.61% at N165 – also on good volume. After yesterdays weak results Flourmills got a hammering, trading at limit down for most of the day, eventually closing down 10% at N80.91. Dangsuga (+6.29%, N7.60) after the announcement of the acquisition of a majority stake in Savannah Sugar – will help its backward integration plans. Some big activity went through in Oando, the name eventually closing down 84bps at N13.

South Africa: Top 40 +0.06%, USD 2.08bn

The JSE ended the day higher with the Top 40 Index gaining 0.32% to close at 36,219 while value traded amounted to USD 1.41bn. Resources were the day's biggest gainers with the Index gaining 0.73% followed by Industrials which gained 0.40% while Financials fell 0.47%. The Rand was trading at 8.87 and 12.11 to the USD and EUR respectively by the time local markets closed.

Zambia: LuSE +0.19%, USD 180k

Much better day today thanks to a cross in Zambeef with value traded amounting to USD 180k. The names that traded included CCHZ, CEC, ZMBF and ZAMEFA. ZMBF was the biggest contributor towards turnover with value traded in the name amounting to USD 179k. CEC was the second biggest contributor towards turnover with value traded in the name amounting to USD 1k.

Zimbabwe: Industrials +1.47%, Mining unch, USD 3.94m

The industrial index hit a five year high of 181.98points as the equities closed the week firm in a thick session. Volumes improved 25% to 10.7m boosted by foreign sales in CBZ and Delta while turnover rose 34% to $3.94m. Foreign participation was however net sellers after accounting for $2.9m of the turnover with purchases amounting to $1.19m. The index rose 1.47% with a best weekly gain of 8.22% supported by solid buying in Innscor, OK, CBZ, Old Mutual and AICO. INNSCOR rose an impressive 10.50% to breach the $1 mark at 100.01c in deep trading where 570 000 units exchanged hands, OK put on 5.75% to 18.01c while the duo of dually listed stocks PPC and Old mutual climbed 1.90% and 0.56% to 215c and 181c respectively. Agro concern, AICO rose 4.76% to 11c as investors seek exposure ahead of possible demerger despite subsidiary group Seedco being offered lower at 75c and bid 60c after a trade update advising investors that profits will be lower than last year owing to depressed volumes and higher interest bill. The mining index was flat at 84.07 points while earlier gains saw the week on week performance at 8.6%. Rio was bid lower at 40c as problem at its Renco mine continue to affect investor confidence.

African Currencies