Movers & Shakers: February 25, 2013

Botswana: DCI +0.28%, USD 717k

A much more exciting day in Gaborone as more than $700k changed hands, and flows were split across a number of counters. The most active names with Choppies, Barclays while Turnstar and FNBB also saw decent activity.

Egypt: EGX 30 +0.65%, USD 123m

The market witnessed another extremely slow session with notable low volumes going throw, leaving the EGX30 to end the day down 0.57% to close at 5,548.21 points. Volumes continue to be weak, the market traded a total turnover of USD 39m, its worth mentioning that foreign investors participation notably increased today accounting for more than 23% of the total turnover. With the lack of catalyst to drive the market higher adding to this tension continues to heighten on the political front, GCC institutional investors started to decrees their exposure in the market, yet institutional investors (local and international) started to increase their exposure in the market benefiting from the various hits targeting names such as PHDC, ESRS and CCAP each ending the day up 0.43%, 0.30% and 0.27% respectively.

Investor mix:
•  Foreigners were net Buyers by 4.92 mn EGP and were 23.66% of the market.t.
•  Egyptians were net Buyers by 6.74 mn EGP and were 69.74% of the market.
•  Arabs were net Seller by 11.67 mn EGP and were 6.61% of the market.
•  Institutions were net Sellers by 4.48 mn EGP and were 33.73% of the market.
•  Retail were net Buyers by 4.48 mn EGP and were 66.26% of the market.

Kenya: NSE 20 -0.32%, USD 13.4m

Equity turnover jumped 216% driven by large volumes traded on EABL which accounted for 76% of volumes. Foreign investors took up 99.6% the brewers demand on offer whilst local investors provided the supply. Overall foreign investor participation was at 49% of the day’s volume. BAT also witnessed strong foreign investor demand whilst Equity Bank, Nation Media and KenolKobil saw net foreign selling. Ahead of its FY12 earnings announcement later this week, KCB climbed 1.4% to KES 37. The rest of the day’s top gainers were on thin volumes. Total Kenya reversed gains made last week easing 7.3% to KES 14.05. Access Kenya and Kenya Power extended losses made last week sliding 4.1% and 2.8% to KES 5.90 and KES 17.05 respectively. Uchumi Supermarkets pulled back 1.3% to KES 19.35 after announcing a 35% drop in 1H13 PBT. E.A Portland cement was down 1.6% to KES 46, despite posting a turnaround in its1H13 earnings to profit making territory.

Mauritius: Semdex -0.22%, USD 432k

A very subdued day in Mauritius as volumes dropped off a cliff as foreign participants all but absent. Only 2 stocks in the Sem-7 moved, SBM -96bps to Rs103 and ENL Land +97bps to Rs41.50. It was such a quiet day that nothing notable to report on.

Nigeria: ASI -0.25%, USD 25.19m

Outside of some chunky crosses in FBNH the Lagos market was more subdued today. FBNH accounted for about 38% of the day’s turnover. The BNK10 closed up a muted 7bps with performance rather mixed across the sector. The most notable outperformer was Zenith (+2.78%, N21.08) while Fidelity was the biggest underperformer (-6.51%, N3.16). Performance was also mixed in the consumer sector, NB -2.89%, N161.20 and Cadbury -4.18%, N35.50 while on the positive side we saw Guinness close up 4.96% at N290.

South Africa: Top 40 +0.31%, USD 1.25bn

The JSE ended the day higher with the Top 40 Index gaining 0.31% to close at 35,359 while value traded amounted to USD 1.25bn. Financials were the day's biggest gainers with the Index gaining 0.38% followed by Resources and Industrials which gained 0.31% and 0.19% respectively. The Rand was trading at 8.81 and 11.71 to the USD and EUR respectively by the time local markets closed.

Zambia: LuSE unch, USD 67k

Slow start to the week in Lusaka with value traded amounting to USD 67k. The names that traded included CEC, LAFA, REIZ, ZMBF, ZAIN and ZNCO. ZMBF was the biggest contributor towards turnover with value traded in the name amounting to USD 33k. ZAIN was the second biggest contributor towards turnover with value traded in the name amounting to USD 24k.

Zimbabwe: Inudsutrials -0.42%, Mining unch, USD 480k

Fast foods giant, Innscor was again the main drag on the ZSE losing a further 5.01c or 5.25% to 90c for a cumulative 10% loss in two consecutive sessions while Delta which was offered lower at 124c also provided downward pressure. By close of trade the mainstream index was 0.42% lower at 185.81points despite further gains Econet and BAT and financial services giant CBZ. Market breadth however was in favor of gains by 7 to 2. Econet pushed a further 0.24% or 1.60c to 676.66c ahead of its EGM this Thursday, CBZ rose 4.16% to 12.01c ahead of its Dec 2012 finals tomorrow while TA recovered 5.37% to 10c. The duo of retail stocks Edgars and Truworths gained 0.87% and 1.67% to 11.6c and 3.66c respectively. Zimplow recovered 20% to 3c. Trading was however thin as volumes dropped 78% to 1.13m shares while value traded dipped 83% to $0.48m. The mining index was unchanged at 80.46points on thin volumes which is now the norm in the sector plagued by undercapitalization amid uncertainty related to indgegenization and government policy concerning unutilized claims.

African Currencies