Movers & Shakers: January 09, 2013

Botswana: DCI +0.23%, USD 3.3k

Absolutely dire day from an activity point of view with value traded amounting to a paltry 3.3k while the market closed the day higher with the DCI gaining 0.23% to close at 7,527.44. Sefalana (330t, +3t) was the only name that closed higher while G4S (579t, -1t) was the only counter that closed lower.

Egypt: EGX 30 +1.08%, USD 98m

With the overall regional euphoria, along with the positive signals and indications regarding the IMF visits international investors along with GCC institutions lifted the market by being the sole net-buyers today, leaving the EGX30 to end the day up 1.08% to close at 5,866.91 points. Market volumes improved significantly relative to recent market turnovers, the market traded a total turnover of USD 98m. International investors managed to continue with its bullish sentiment targeting names such as COMI, ACGC and ETEL each ending the day up 2.79%, 3.88% and 1.84% respectively, yet local investors started to decrease their exposure in the market benefiting from the recent price run, this came after the cabinet reshuffle which was not very promising so far as most of the names are not well known figures and belongs to the Muslim Brotherhood which increased the opposition disappointment.

Investor mix:
•  Foreigners were net Buyers by 51.91 mn EGP and were 18.73% of the market.
•  Egyptians were net Sellers by 87.86 mn EGP and were 73.00% of the market.
•  Arabs were net Buyers by 35.94 mn EGP and were 8.27% of the market.
•  Institutions were net Buyers by 32.32 mn EGP and were 33.44% of the market.
•  Retail were net Sellers by 32.32 mn EGP and were 66.55% of the market.

Kenya: NSE 20 +1.35%, USD 9.7m

The benchmark NSE 20 Share Index witnessed its largest one day gain (1.35%) touching a high of 4,305.03 points (levels last seen early 2011) supported by gains made on large cap counters. Equity turnover surged 306% driven by increased foreign investors activity, accounting for 70% of trades compared to 34% previously. EABL was the day’s top mover accounting for 36% of trades, with foreign investors trading equally on both sides of the counter. The brewer climbed 3.6% touching a new high of KES 290, BAT was also fairly active today on strong foreign investor demand. The counter sustained momentum witnessed in previous sessions touching a new high of KES 524. Safaricom was the most traded counter today witnessing strong demand at the start of trading, touching a high of KES 6, thereafter witnessing a supply overhang as investors sought to take profit. The counter closed at KES 5.80, 3.6% higher than the previous session. Equity Bank also touched a new 12 moth high today gaining 5.2% to KES 25.25. ARM recouped yesterday’s losses edging up 5.8% to KES 54.50, buoyed by local investor demand. On the losing end Access Kenya eased 4% to KES 4.75.

Mauritius: Semdex +0.16%, USD 291k

Activity grinded to a near halt today with value traded amounting to a dissapointing USD 291k. Investors seemed to be content with just sitting on the bid and offer (respectively) in MCB as a mere 3.5k shares traded in the counter. SBM was slightly more active with a total of 19k shares traded, 14k of which was a cross with the name closing flat at 89.50. The only other noticeable cross to speak of was 25k shares in IBL at 79.00.

Nigeria: ASI -0.46%, USD 25.36m

Banking stocks finally took a breather today (albeit rather small) with the Bank10 Index falling 0.13% with Fidelity (-5.52%) coming under the most pressure while UBA bucked the trend as the counter gained 9.92%, the name has gained 32.63% over the last three trading sessions. Foreign participation was prevalent in the market today which was noticeable in the increased activity as value traded amounted to a decent $25.36m. UBA was also amongst the biggest contributors towards value traded as were the likes of Zenith, First Bank and Guaranty Bank.

South Africa: Top 40 +0.49%, USD 1.71bn

The JSE ended the day higher with the Top 40 Index gaining 0.49% to close at 35,808 while value traded amounted to USD 1.71bn. Resources were the day's biggest gainers with the Index gaining 0.74% followed by Industrials and Financials which gained 0.49% and 0.09% respectively. The Rand was trading at 8.58 and 11.21 to the USD and EUR respectively by the time local markets closed.

Zambia: LuSE +0.07%, USD 3.7k

Extremely quiet in Zambia today with value traded amounting to a paltry USD 3.7k. The names that traded included CEC, PUMA, REIZ, SCZ, ZAIN and ZNCO. CEC was the biggest contributor towards turnover with value traded in the name amounting to USD 1.9k ZSUG was the second biggest contributor towards turnover with value traded in the name amounting to USD 905.

Zimbabwe: Ind +1.09%, Mining -1.81%, USD 730k

The equities market continues to push higher spurred by top stocks as scrip remains in short supply in most stocks. Market breadth favored risers by 11 to 5. Six of the top ten listed stocks traded higher in mid week trades led by Econet, Old Mutual and PPC while Seedco, Innscor, Hippo and Natfoods were unchanged. Econet rose 1.10% to 460.02c on 21k shares, dually listed stocks PPC and Old Mutual picked 4.48% and 4.44% to 210.01c and 165.01c respectively on paltry volumes while beverages giant hit yet another all-time high of 102c after rising 1.85%. Retail giant OK reverted by to 52-week high of 15c after gaining 5.63%. Overall volumes grew to 3.27m from 25 stocks with CBZ and Delta alone accounting for 73% of total volumes. Value traded was however 22% lower at $0.730m with foreign participation accounting for 69%. Foreign portfolio inflows into the ZSE remains buoyant growing 11% in 2012 from $190m to $211.6m despite an overall drop in FDI into Zimbabwe as indicated by the fall in approved projects from $6.6billion to $930million. By close of trade the mainstream industrial index rose 1.09% to 153.95points as the ZFN top ten index rose 1.33%. The mining index was however 1.81% lower at 66.29points weighed down by losses in Hwange.

African Currencies