Movers & Shakers: February 15, 2013

Botswana: DCI -0.07%, USD 800k

Significant increase in activity today with value traded amounting to USD 800k thanks to crosses in the likes of Barclays and BIHL, with Barclays leading the way in terms of value traded. Market breadth also improved with a number of the counters active today while the DCI closed the day down 0.07%.

Egypt: Market closed for the day.

Kenya: NSE 20 -0.49%, USD 3.7m

The benchmark NSE 20 Share index shed a further 0.49%, a more severe decline from yesterday’s 0.23%. Equity turnover fell 42.8%. Foreign investor participation was broadly flat at 45.8% compared to 44% in the previous session. Access Kenya quickened 6.3% to KES 6.70 on thin volumes. Diamond Trust Bank, tightly held, was the largest mover accounting for 22.3% of the market on a block trade. CFC Insurance, another thinly traded counter was active accounting for 13.6% of the bourse. EABL retreated 4.2% after announcing a 14% drop in net profits. Net income was weighed down by high finance costs brought about by the acquisition of a 20% minority interest in its Kenya Breweries limited subsidiary from SAB Miller. EABL was unusually quiet during the day as investors digested the numbers.

Mauritius: Semdex +0.90%, USD 1.81m

A relatively decent day to end the week with value traded amounting to USD 1.81m. There was a slew of financial results released today with both banking heavyweights MCB and SBM reporting H1 2013 numbers which saw PAT increase 10.7% and 26% respectively. Both banking stocks rallied on the back of these numbers with MCB gaining 0.56% while SBM which seemed to report better results closed the day 2.11% higher. NMH ended the day higher after reporting Q1 2013 numbers which saw PAT fall 14%. Tourist arrivals for January 2013 fell 6% y/y.

Nigeria: ASI -0.25%, USD 28.80m

Profit taking continued in Lagos today as the ASI fell 0.25% dragged lower by consumer and cement stocks. The banking sector bucked the trend however with the Bank 10 Index gaining 0.28% with the likes of Zenith (+2.14%) and Guaranty (+1.96%) leading the way higher. Guaranty was also the major driver behind value traded as a rather impressive 62.5m shares changed hands in the counter, thanks to a few large crosses with locals and foreigners prevalent on both sides of the name. DangCem ended the day softer at 145 on average volume after yesterday's limit up session in the name. Cadbury came under pressure for the third day in a row with the counter closing at 37.28 on which can only be speculated that investors are still taking profit after a very good run.

South Africa: Top 40 -0.12%, USD 1.40bn

The JSE ended the day lower with the Top 40 Index falling 0.12% to close at 36,242 while value traded amounted to USD 1.40bn. Resources were the day's biggest losers with the Index falling 0.34% followed by Financials which fell 0.33% while Industrials gained 0.17%. The Rand was trading at 8.80 and 11.77 to the USD and EUR respectively by the time local markets closed.

Zambia: LuSE +0.70%, USD 96k

Nothing really exciting in Lusaka today but we have seen far worse as value traded amounted to USD 96k thanks to a cross in ZNCO. The names that traded included CEC, REIZ, SCBL, ZAIN, ZNCO and ZSUG. ZNCO was the biggest contributor towards turnover with value traded in the name amounting to USD 83k. SCBL was the second biggest contributor towards turnover with value traded in the name amounting to USD 12k.

Zimbabwe: Inudsutrials data not available, Mining data not available, USD 2.15m

Due to issues at the exchange we are unable to report the movement in the Indeces today. The ZSE closed the week on a positive note as gainers outpaced riser by 13 to 5 albeit in light trades. Volumes traded declined 63% to 4.9m units while value traded dropped 51% to $2.15m in a quiet session where most big names recorded thin volumes as investors continue to look for opportunities to consolidate profits. The major highlight of the day was a special bargain of 1.994m in cement producer, Larfage executed at 70c in a trade worth $1.4m being 65% of value traded. Delta was steady at 122.5c on thin volume of 48226 units, Innscor was offered lower at 90c with buyers lower at 85c and Econet lost a marginal 0.01c to 650c. Agro-concern AICO lost a further 1c or 11.11% to 8c after renewing their cautionary statement about the impending unbundling while Seedco was steady at 60c. In the resources sector Rio eased 20% to 40c in lights trades. Accordi ng to news reports the referendum has been set for March 16.

African Currencies