Movers & Shakers: February 26, 2013

Botswana: DCI +0.08%, USD 16k

A disappointingly dismal day in Gaborone – the less said the better as the market may as well have been closed.

Egypt: EGX -0.03%, USD 30m

The market witnessed a notably static session with barley any trading activity, leaving the EGX30 relatively unchanged to end the day down 0.03% to close 5,546.42at points. Shockingly the market managed to break a new low volumes record YTD, the market traded a total turnover of USD 30m. Despite, yesterday's rebound seen at session end a sense of confusion has invaded the market trading higher at open lead by buying from international investors, the market could not hold its grounds after new started to rise confirming the news regarding the will levy tax on stock market transactions of 10bps. Trading activity was in our usual high beta stocks the likes of PHDC and CCAP and TMGH, local institutions investors continue decrease their exposure in the market along with GCC institutions.

Investor mix:
•  Foreigners were net Buyers by 3.27 mn EGP and were 13.06% of the market.
•  Egyptians were net Buyers by 0.867 mn EGP and were 77.70% of the market.
•  Arabs were net Seller by 4.14 mn EGP and were 9.24% of the market.
•  Institutions were net Sellers by 1.28 mn EGP and were 28.10% of the market.
•  Retail were net Buyers by 1.28 mn EGP and were 71.89% of the market.

Kenya: NSE 20 +0.12%, USD 6.8m

Equity turnover fell 49% driven by reduced foreign investor participation at 15% of trades compared to 49% in the previous session. KCB led the top movers list accounting for 56% of volumes supported by strong local investor demand. The bank climbed 6.1% to a new high of KES 39.25 ahead of FY12 earnings announcement on Thursday the 28th. Equity Bank and Co-op Bank(+1.1%) are also set to release FY12 earnings on the same day (28th). Kengen led the top gainers list edging up 7.4% to KES 11.60, recouping some of the losses made in previous sessions. Pan Africa Insurance sustained its upward momentum notching up further 2.6% to close at a new 12 month high of KES 49.50. On the losing end Kenya power continued to see selling pressure easing 1.5% to KES 16.80. Uchumi slid 1.8% to KES 19, after it announced weak 1H13 results yesterday. On the other hand E.A Cables gained 2.2% to KES 13.75 after posting a 65.9% y/y jump in FY12 EPS.

Mauritius: Semdex +0.02%, USD 1.28m

Another day of ticking along slowly in Mauritius as the Semdex closes marginally up while the Sem-7 closed marginally down. Among the Sem-7 stocks, SBM and NMH closed down 97bps and 69bps at Rs102 and Rs71.50 respectively while Alteo closed up marginally and ENL Land closed up 2.41% at Rs42.50. Most of the days action centered in SBM. Lux Island Resorts closed up almost 3% at Rs17.50 while Air Mauritius slid 1.38% to Rs14.30.

Nigeria: ASI -0.58%, USD 24.69m

A mixed day in Lagos as the index eventually settled down 58bps for the session on reasonable turnover. Crosses in Nestle, FBNH and Stanbic the main action on the day. The banking sector closed up 56bps with Zenith Bank the main strength closing up 1.99% at N21.50. Performance was also mixed amongst the consumers with Guinness and NB both closing up at N291.06 and N164 respectively. Cadbury, however, closed down 1.38% at N35.01 while Nestle closed up a solitary 1bp at 900.09 after seeing a large cross go through early in the session.

South Africa: Top 40 -0.61%, USD 1.40bn

The JSE ended the day lower with the JSE falling 0.61% to close at 35,143 while value traded amounted to USD 1.40bn. Resources were the day's biggest losers with the Index falling 1.02% followed by Financials and Industrials which fell 0.66% and 0.26% respectively. The Rand was trading at 8.85 and 11.56 to the USD and EUR respectively by the time local markets closed.

Zambia: LuSE +0.63%, USD 151k

Decent day in Zambia today (relatively speaking) with value traded amounting to USD 151k thanks to a cross in CEC. The names that traded included CEC, LAFA, PUMA, REIZ, SCZ ZAMBREW and ZNCO. CEC was the biggest contributor towards turnover with value traded in the name amounting to USD 141k. PUMA was the second biggest contributor towards turnover with value traded in the name amounting to USD 6k.

Zimbabwe: Inudsutrials -0.24%, Mining -1.11%, USD 450k

ZSE closed lower in Tuesday trades amid mixed fortunes among big names after reports of political violence ahead of the referendum slated for 16 March. The industrial index dropped 0.24% or 0.44points weighed down by Delta which recorded its worst daily loss since January easing 4% or 5c to 120c albeit on light trades. Market breadth however remained favorable as risers outpaced losers by 11:4. Hotelier, RTG slipped 13.33% to 1.30c despite reports that the group intends to spend $2.5m on refurbishment of its hotel portfolio ahead of UNWTO general assembly expected in August. LIFESTYLE was the worst performing stock easing 25% to 0.3c as the group considers a share swap where shareholders in the group are given shares in Mauritius registered holding company TN Harlequin in exchange for their Lifestyle shares as the group prepares to delist from the ZSE. Trading activity remained subdued with little participation from the foreign investors. Value traded declined 6.54% to $0.450m from 2.31m shares. Foreign participation was net outflows after accounting for $0.124m in sales against paltry purchases of $0.03m.The mining index was down 0.89 points (1.11%) to close at 79.57 points weighed down by BINDURA which lost 3.4% to 2.8c. Rio traded unchanged at 50c with Falgold and Hwange recording no trades.

African Currencies