Movers & Shakers: January 08, 2013

Botswana: DCI unch, USD 32k

Another quiet day in Gaborine with value traded amounting to USD 32k while the market closed the day flat at 7,510.32. There were no names that ended the day higher while BIHL (1,032t, -3t) and Letlole (149t, -1t) were the only counters that lost ground.

Egypt: EGX 30 +1.23%, USD 95m

The market managed to pick up its bullish momentum lead by notable institutional buying, leaving the EGX30 to end the day up 1.23% to close at 5.804.24 points. Market volumes improved notably compared to recent market turnovers, the market traded a total turnover of USD 95m. Local institutions started the day as net-sellers along with local retail investors to pressure to reach a low of 5730.29 points, yet by med-session local institutions changed their sentiment to join international investors as net-buyers leaving local retail investors as the sole net-sellers today. It’s worth mentioning Egypt’s pound weakened for an 8th day (USD1= 6.4819)after the central bank sold $60 million at an auction as part of a policy to conserve currency reserves while politicians race to secure the IMF loan. Institutional investors targeted blue chips such as COMI, ORTE and OCIC each ending the day up 2.85%, 1.72% and 1.26% respectively.

Investor mix:
•  Foreigners were net Sellers by 40.05 mn EGP and were 14.71% of the market.
•  Egyptians were net Buyers by 70.81 mn EGP and were 73.98% of the market.
•  Arabs were net Buyers by 30.76 mn EGP and were 11.31% of the market.
•  Institutions were net Buyers by 74.78 mn EGP and were 31.95% of the market.
•  Retail were net Sellers by 74.48 mn EGP and were 68.04% of the market.

Kenya: NSE 20 +0.84%, USD 2.4m

Equity turnover climbed 34.3% during today’s session with local investors continuing to dominate trading, accounting for 66% of trades. Foreign investors were largely buyers while local investors provided supply. Safaricom was the day’s top mover accounting for 31% of volumes buoyed by strong foreign investor demand. The counter surged 4.7% to a new high of KES 5.6 extending previous session gains. Similarly EABL touched a new high of KES 280 with foreign investors accounting for 91% of its demand. Equity also made meaningful gains edging up 1.1% to KES 24.00. Mumias saw unusually high foreign investor demand though the counter remained flat at KES 5. ARM witnessed mild profit taking pulling back 1% to KES 51.50.

Mauritius: Semdex +0.09%, USD 749k

On a rather quiet day it was banking heavyweight MCB that lead activity with 102k shares traded in the counter as foreigners continue to seek exposure to the name with mostly locals on the sell side. SBM was rather quiet with a total of 15k shares traded in the name as it gained 0.56% to close at 89.50. Activity fell with value traded amounting to USD 749k while the market closed the day higher with the Semdex gaining 0.09% to close at 1,733.70.

Nigeria: ASI +0.36%, USD 23.16m

Activity continued to increase today as foreigners returned with value traded amounting to a rather pleasing $23.16m. The rally in banking stocks continued albeit at a much slower pace than we have become accustomed to over the last few sessions with the Bank10 Index gaining 0.69% as UBA (+9.83%) lead the charge on rather thin volume. Banking heavyweights Zenith, First Bank and Guaranty were the biggest contributors towards value traded with NB also putting in a strong showing from an activity point of view with the counter seemingly finding equilibrium at the N150 level.

South Africa: Top 40 -0.03%, USD 1.33bn

The JSE ended the day lower with the Top 40 Index falling 0.03% to close at 35,632 while value traded amounted to USD 1.33bn. Resources were the day's biggest losers with the Index falling 0.18% followed Industrials which fell 0.03% while Financials gained 0.22%. The Rand was trading at 8.58 and 11.22 to the USD and EUR respectively by the time local markets closed.

Zambia: LuSE -0.97%, USD 46k

Not much went on in Lusaka today with value traded amounting to USD 46k. The names that traded included AELZ, CEC, LAFA, ZAIN, ZMBF, ZSUG, ZAMBREW and ZNCO. ZMBF was the biggest contributor towards turnover with value traded in the name amounting to USD 38k. CEC was the second biggest contributor towards turnover with value traded in the name amounting to USD 3.8k.

Zimbabwe: Ind +0.12%, Mining +1.34%, USD 930k

ZSE stocks extended gains for the fourth session spurred by top stocks Delta, Econet, Old Mutual, OK, Meikles and CBZ on improved foreign participation. The mainstream industrial index rose 0.12% to 152.29points while the mining index was 1.34% firmer at 67.51points after Bindura was bid higher at 1.50c. Volumes traded remained depressed below the one million mark at 0.94million shares while turnover rose to $0.93m as foreign investors pumped money into beverages group Delta. Foreign participation accounted for 81% or $0.754m on the purchases side. Telecoms giant, Econet rose a solid 10c or 2.25% to 455c after offering a 1:28.79 share swap or cash alternative of 15.91c per share to TN Bank minority. TN Bank added 3.33% to 15.50c. Retail stocks Edgars and OK rose 12.50% and 0.64% to 9c and 14.2c respectively. Delta breached the $1 mark to post 0.15% to 100.15c and accounted for the bulk of the trades after 677 593 units exchanged hands in trades worth $678 608.

African Currencies