Movers & Shakers: February 12, 2013

Botswana: DCI +0.08%, USD 33k

Very quiet day in Gaborone with value traded amounting to USD 33k while the market closed higher with the DCI gaining 0.08% to close at 7,825.76. Market breadth was reasonable (relatively speaking) with Furnmart dominating activity as 102k shares changed hands in the name.

Egypt: EGX 30 +1.08%, USD 75m

The market managed to end the day on a positive note lead by notable buying from local institutional investors, the EGX30 ended the day up 1.08% to close at 5,755.77 points. Market improved after trading weak volumes since week start, the market traded a total turnover of USD 75m. The market ended the day in positive territories mainly lead by notable local institutional buying, the real estate sector witnessed strong buying appetite following the approval of NUCA’s BoD to directly allocate land instead of having land sold through a public auction pending cabinet approval and ratification by the Shura Council or the President, names such as TMGH, OCDI and PHDC ended the day up 1.66%, 3.49% and 2.42% respectively, However, it is worth noting that OCDI said that acquiring land from the government is the last resort as they prefer to enter into a revenue-sharing scheme to save cash.

Investor mix:
•  Foreigners were net Sellers by 35.79 mn EGP and were 12.19% of the market.
•  Egyptians were net Buyers by 45.59 mn EGP and were 75.97% of the market.
•  Arabs were net Sellers by 9.79 mn EGP and were 11.83% of the market.
•  Institutions were net Buyers by 4.92 mn EGP and were 24.95% of the market.
•  Retail were net Sellers by 4.92mn EGP and were 75.04% of the market.

Kenya: NSE 20 +0.49%, USD 11.3m

The benchmark NSE 20 index continued on an upwards momentum, notching up a further 0.49% consolidating a gain of 12.4% year to date. Equity turnover surged 94.2% with foreign investors accounting for 60.2% of volumes. EABL buoyed the market with 45.8% of trades, driven by strong foreign investor trading on both buying and selling. Barclays Bank was unchanged at KES 16.50 ahead of FY12 results due before the next session opens. Thin institutional supply led KCB Bank 4.1% higher to touch a new all time high of KES 38.25 ahead of FY12 results. AccessKenya climbed 8.5% in a session which saw supply on the counter dry up. Whereas the ISP business struggled in 2011, investors expect a possible return to dividend payment in 2012 as new wholesale business for 2013 supporting growth in the near term.

Mauritius: Semdex +0.19%, USD 2.2m

The biggest focus on the day was the large jump in NMH (+4.1%) to Rs76, up from Rs73 while Lux Island Resorts (+2.86%, Rs18) the other gainer in the hotel sector. On the Sem-7, the other movers besides NMH were Bramer Banking (-3.45%, Rs7) and Alteo Limited (+58bps, Rs34.50). The 2 big banks (MCB and SBM) both closed the day unchanged at Rs179 and Rs94.50 respectively.

Nigeria: ASI -0.07%, USD 29.31m

The continued rally in banking stocks (Bank10 Index +1.05% today) could not help the market close in positive territory with market heavyweight Dangote Cement falling 2.08% with a very large cross of 2m shares taking place at 140.47 with both the buyer and the seller being foreign. Sticking with the cement sector, there was a significant cross in WAPCO of 3m shares at 70.5 with the counter closing at that level (-2.08% on the day). PZ Cussons was another drag on the market as the counter finally succumed to some form of profit taking after a very good run over the last few weeks (falling 3.10% today). From an activity point of view First Bank, DangCem, Guaranty Bank, Nigerian Breweries and WAPCO were the biggest contributors towards value traded.

South Africa: Top 40 -0.34%, USD 1.30bn

The JSE ended the day lower with the Top 40 Index falling 0.34% to close at 36,286 while value traded amounted to USD 1.30bn. Industrials were the day's biggest losers with the Index falling 0.40% followed by Resources and Financials which fell 0.27% and 0.24% respectively. The Rand was trading at 8.96 and 12.03 to the USD and EUR respectively by the time local markets closed.

Zambia: LuSE -0.04%, USD 1.34m

The normally lackluster Lusaka market saw some excitement today as a large amount of SCZ crossed in the market. The total value of SCZ trades were almost 100% of the days activities while the rest of the market was typically dead. SCZ closed down 1.16% at K0.85 while CEC was the main gainer for the day closing up 1.28% at K0.79.

Zimbabwe: Inudsutrials -0.43%, Mining -3.43%, USD 1.03m

ZSE stocks recorded second consecutive loss in Tuesday trades on further profit taking as losers outpace gainers by 13 to 7 for the first time in five weeks. The industrial index slipped 0.43% or 0.78points to 182.33points after losses in Delta, CBZ and a lower offer in Innscor outweighed bullish sentiments in Econet, BAT and Colcom. Beverages giant, Delta lost 0.38% to 124.5c and was the most actively traded stock after 496,753 units exchanged hands in trade worth $618 458. Financial stocks, CBZ and NMBZ eased 5.17% and 6.50% to 11c and 1.15c respectively. Edgars pared 0.9% to 11c, Pearl lost 3.70% while African Sun took a breather softening 0.71% to 1.41c after recent rally. Fast foods giant, Innscor was offered lower at 92c with distant bids at 85c as investors seek to consolidate gains. On the positive side, Econet rose 1.47% to 620.01c ahead of the appointment of South African, Kwanele Ngwenya as CEO of TN Bank. Value traded declined 22% to $1.03m due to light trades in most heavy cap counters except Delta. Foreign purchases accounted for 87% ($0.9m) of the value traded while sales were limited to $291k. The mining index was down 2.85 points (3.43%) to close at 80.15 points. BINDURA slipped 0.10 cents to 3.10 cents and RIOZIM was offered lower at 40 cents. HWANGE traded unchanged at the previous trading levels.

African Currencies