Movers & Shakers: February 06, 2013

Botswana: DCI +0.12%, USD 165k

Turnstar was the market leader in terms of activity for a second day in a row as a total of 500k shares traded in the name with value traded amounting to USD 165k. In terms of market breadth there was not much going on as there were only a few counters that traded. The market closed the day higher with the DCI gaining 0.12% to close at 7,809.72.

Egypt: EGX 30 -1.81%, USD 86m

Finally the market witnessed a profit booking session after trading higher for the last 5 consecutive sessions despite of the political and economical turmoil the country is facing. The EGX30 ended the day down 1.81% to close at 5690.93 points on improved volume of USD 86m. The market caught its breath today as price corrections were seen across most stocks lead by institutional profit booking(internationals and GCC) after being net buyers over the last couple of weeks, name such as COMI, TMGH and ORTE witnessed notable selling to end the day down 3.73%, 2.72% and 2.59% respectively. HRHO managed to continue with its bullish sentiment and closed up 2.02% on decent volumes, this comes on the back of hiking anticipation that Qinvest deal will be conclude very soon as originally planned in 1Q2013.

Investor mix:
•  Foreigners were net Sellers by 71.11 mn EGP and were 14.83% of the market.
•  Egyptians were net Buyers by 9.89 mn EGP and were 73.24% of the market.
•  Arabs were net Sellers by 61.22 mn EGP and were 11.93% of the market.
•  Institutions were net Sellers by 25.59 mn EGP and were 28.41% of the market.
•  Retail were net Buyers by 25.59 mn EGP and were 71.58% of the market.

Kenya: NSE 20 +0.87%, USD 5.2m

Equity turnover fell 26.4% in todays session with foreign investors dominating trading accounting for 54.2% of volumes. The NSE 20 index sustained its momentum climbing 0.87% crossing the 4500 points mark to close at 4,522.53 points. KCB was todays top mover accounting for 36% of trades buoyed by strong foreign investor demand. The counter gained 1.5% closing at a year high of KES 34.75. Of the top movers foreign investors accounted for over 90% of demand in EABL (+0.3%), Barclays Bank (+0.3%) and Safaricom. Diamond Trust Bank also saw strong foreign investor demand touching a high of KES 144 during the session though closing at KES 139 (+6.1%). Kengen sustained its momentum edging up further 4.2% today to KES 12.45. Other top losers and gainers were on thin volumes.

Mauritius: Semdex +0.34%, USD 2.42m

Foreigners continue to seek exposure in the two major banking names and in turn continue to push the prices with MCB gaining 0.56% and SBM gaining 1.05% on solid volume. Alteo was rather active today as a total of 76k shares traded, 75k of which was a cross at 33.20. The market managed to close in positive territory with the Semdex gaining 0.34% to close at 1,813.86.

Nigeria: ASI +1.24%, USD 40.73m

Banks extremely active yet again today with both foreign and local institutional investors active on both sides of the counters. UBA ($4.86m), Access ($3.67m) and First Bank ($3.41m) were the market leaders in terms of activity with a number of large crosses in the counters. The Bank 10 Index managed to put on a gain of 0.73% with second-tier banks outperforming their top-tier counterparts. It was interesting to see some activity in a rather odd name, Transnational Co as a total of 131m shares traded in the name in good two way flow. Consumer stocks in the form of Nigerian Breweries and Guinness performed rather well, gaining 2.51% and 0.54% respectively. Ashaka Cement continued its recent rally, gaining 9.73% as investors continue to speculate that the stock is undervalued relative to it's peers.

South Africa: Top 40 -0.34%, USD 1.51bn

The JSE ended the day lower with the Top 40 Index falling 0.34% to close at 36,156 while value traded amounted to USD 1.51bn. Financials were the day's biggest losers with the Index falling 0.51% followed by Industrials which fell 0.49% while Resources gained 0.26%. The Rand was trading at 8.92 and 11.99 to the USD and EUR respectively by the time local markets closed.

Zambia: LuSE +0.83%, USD 59k

Activity slowed down today with value traded amounting to USD 59k. The names that traded included AELZ, BATA, CEC, FQM, LAFA, ZAIN and ZNCO. ZNCO was the biggest contributor towards turnover with value traded in the name amounting to USD 39k. ZAIN was the second biggest contributor towards turnover with value traded in the name amounting to USD 11k.

Zimbabwe: Industrials -0.11%, Mining unch, USD 6m

ZSE shares snapped a five week rally in mid week trades as profit taking took its toll on big names. Innscor which has already returned 43% since January gave up 2.91% to 100c on thin trades while Econet eased 1.64% or 10c to 600c yet still has a healthy 33% YTD gain. The industrial index lost 0.11% to 184.75points in a thick session as volumes rose 10% to 11.91m while turnover improved 24% to a record $6m. Beverages giant Delta which was unchanged at 125c, was the most actively traded stock once again after 2m shares exchanged hands through a special bargain while 1.8m exchanged hands in normal trades for a combined $4.8m (78% of total value traded). Foreign investors continue to pump liquidity into the ZSE stocks accounting for $3.22m of value bought while sales were 13% higher at $2.8m. The resources sector continues to record little activity with only gold miner Falgold recording a trade. The mining index was unchanged at 84.07points for fifth session.

African Currencies