Movers & Shakers: February 04, 2013

Botswana: DCI +0.04%, USD 9k

Activity grinded to a near halt in Gaborone today as value traded amounted to 9k on the back of no trades in the normal market driver Letshego. Market breadth was extremely thin as to be expected with activity so low. The market closed slightly higher with the DCI gaining 0.04% to close at 7,799.10.

Egypt: EGX 30 +0.97%, USD 76m

The market managed to end the day in positive territory lead by notable buying from international and local institutions, the EGX30 ended the day up 0.97% to close at 5,748.82 points. Volumes continue to improve, as the market traded a total turnover of USD 76m. International and local institutions managed to pick up their bullish sentiment again today, targeting specific blue chips the likes of ORTE, COMI, ESRS. It's worth mentioning that ORTE(+2.23%) continues to grab investors’ appetite especially that the stock recognizes its revenues is in foreign currency alongside all operations are outside Egypt for those worried from the country's current situation.

Investor mix:
•  Foreigners were net Buyers by 32.68 mn EGP and were 17.01% of the market.
•  Egyptians were net Sellers by 14.24 mn EGP and were 71.25% of the market.
•  Arabs were net Sellers by 18.44 mn EGP and were 11.73% of the market.
•  Institutions were net Buyers by 26.87 mn EGP and were 28.95% of the market.
•  Retail were net Sellers by 26.87 mn EGP and were 71.04% of the market.

Kenya: NSE 20 +0.68%, USD 2.7m

Equity turnover fell 78% driven by reduced foreign investor activity accounting for 45% of volumes compared to 74% in the previous session. The NSE 20 index however continued to register gains edging up 0.68% to 4,450.78 points. EABL was the top mover accounting for 39% of trades driven by continued strong foreign investor demand. Other counters that witnessed strong foreign investor demand included Nation Media, Equity Bank and Scan group gaining 1.5%, 0.9% and 3.7% respectively. Safaricom (-0.9%, KES 5.50) continued to witness high foreign investor supply with local investors absorbing the stock on the demand side, albeit on lower prices. CIC insurance eased 2.4% to KES 4.05 reversing gains made in previous sessions. Other top gainers and losers were on thin volumes.

Mauritius: Semdex +0.28%, USD 4.04m

Rather active start to the week with value traded amounting to a very impressive USD 4.04m. MCB got things going early on with a large cross of 261k shares at 179 with both the buyer and the seller being foreign while the name continued to show impressive activity throughout the session with a number of crosses going through as a total of 479k shares traded. Foreign interest in SBM continues as the name rallied 1.09% to close at 93.00 on decent volume of 76k shares. Foreigners also sought after NMH as the hotelier closed flat at 71.00 on 124k shares.

Nigeria: ASI +0.84%, USD 27.41m

Banking stocks were on an absolute charge today with the Bank 10 index gaining a very impressive 3.35% lead higher by the likes of Diamond Bank (+6.71%), Skye Bank (+6.61%) and First Bank (+5.77%). Sterling Bank got things going early in the session with a cross of 105m shares at 2.85 as locals were on both sides of the cross. Demand in banking stocks continues to be driven by both local and foreign investor demand as speculation continues that results will beat estimates. There were pockets of good performances in the consumer names with the likes of PZ Cussons gaining a rather impressive 9.99% as the name continues to rally after posting very impressive H1 numbers last week while Cadbury gained 5.00%, following Nestle's strong performance last week.

South Africa: Top 40 +0.02%, USD 1.46bn

The JSE ended the day slightly higher with the Top 40 Index gaining 0.02% to close at 36,225 while value traded amounted to USD 1.46bn. Industrials were the day's biggest gainers with the Index gaining 0.26% followed by Resources which gained 0.04% while Financials fell 0.72%. The Rand was trading at 8.91 and 12.08 to the USD and EUR respectively by the time local markets closed.

Zambia: LuSE +0.12%, USD 40k

Slow day in Lusaka with value traded amounting to USD 40k. The names that traded included CEC, SCBL, ZAIN, ZMFA, ZNCO and ZSUG. ZNCO was the biggest contributor towards turnover with value traded in the name amounting to USD 36k. CEC was the second biggest contributor towards turnover with value traded in the name amounting to USD 3k.

Zimbabwe: Industrials +1.42%, Mining unch, USD 2.55m

The equities market opened the week in good cheer hitting yet another 5-year high as foreign investors continue to cherry pick on quality stocks. Foreign interest were purchases only accounting for 94% ($2.383m) of turnover above the January average of 67%. The recent rally has been supported by significant foreign participation with January statistics showing that foreign investors bought 68% or $24.9m of the $36.8m monthly turnover. By close of call the mainstream industrial was at 184.56points after gaining 1.42% or 2.58points spurred by Econet and Innscor which also touched all-time high prices. Econet climbed an impressive 8.93% or 50c to 610c on solid buying as it breaches the $1bn market cap at $1.034bn (inclusive of class A shares). Innscor was 2.99% up at 103c on a sizeable block of 677 454 units worth $696,718. TSL added 3.92% to 13.51c after impressive October finals. Volumes traded declined 67% to 3.53m yet turnover remained decent amounting to $2.55m supported by foreign purchases in Delta, Econet and Innscor. The mining index was flat at 84.07 points after Falgold traded unchanged at 16c. Rio as bid lower at 30c on concerns over its gold mine Renco.

African Currencies