Movers & Shakers: January 15, 2013

Botswana: DCI +0.26%, USD 353k

Much better day in Gaborone in terms of activity with value traded amounting to USD 353k thanks to a cross in BIHL while the market closed the day hhigher with the DCI gaining 0.26% to close at 7,533.84. Choppies (210t, +2t), Cresta (84t, +1t), Sefalana (332t, +1t) and StanChart (1,030t, +30t) were the counters that closed higher. Primetime (184t, -1t) and WIL (260t, -5t) were the only names that closed lower on the day.

Egypt: EGX 30 -1.43%, USD 61m

The market ended the day in negative territories lead by local investors profit taking, leaving the EGX30 to end the day down 1.43% to close at 5,657.08 points. Market continues to trade slightly lower volumes than recent market turnover, the market traded at total turnover of USD 61m. With the continuous lack of a catalyst in the market and the long awaited constitutional court ruling on the constitutional assembly and Shura Council the market witnessed a sense of malaise leaving local investors to end the day as net sellers, yet international investors remain bullish towards the market benefiting from the various price hits. TMGH got smacked -4.60% following news that the company's chairman admitted paying money to the former Minister of Housing and Urban Communities Mohammed Ibrahim Suleiman, to facilitate the madinaty land acquisition, the company responded to the EGX by saying that they have now link with ex-head bride allegation and that there legal position is stable on the madinaty case.

Investor mix:
•  Foreigners were net Buyers by 16.95 mn EGP and were 22.69% of the market.
•  Egyptians were net Sellers by 24.46 mn EGP and were 70.52% of the market.
•  Arabs were net Buyers by 7.51 mn EGP and were 6.80% of the market.
•  Institutions were net Buyers by 22.78 mn EGP and were 33.58% of the market.
•  Retail were net Sellers by 22.78 mn EGP and were 66.41% of the market.

Kenya: NSE 20 +1.38%, USD 6.1m

The NSE 20 index extended gains made yesterday, climbing further 1.38% to 4,474.68 points, 0.56% shy of the 4500 psychological mark. Of the counters traded 29 gained 6 declined and the rest remained unchanged. Equity turnover jumped 77% driven by increased foreign investor participation at 51% of trades compared to 31% in the previous session. EABL was the day’s top mover, accounting for 41% of volumes with foreign investors accounting for 98% of its demand. The counter gained 1.3% to close at a new high of KES 303. Safaricom (flat at KES 5.65) was also actively traded during the session accounting for 13% of trades. Banking Stocks KCB, Barclays and Co-op banks witnessed strong local investor demand, pushing up their prices 3%, 1.3%, and 1.2% to KES 34.25, KES 15.70 and KES 13 respectively. Among the top gainers were utilities Kengen and Kenya power which climbed 6.4% and 4.1% to KES 11.50 and KES 17.90 respectively. Losers today were on thin volumes.

Mauritius: Semdex +0.63%, USD 3.65m

The stellar performance from both an activity and rally point of view in the major banking stocks continued today as foreigners continue to purchase the counters. MCB rallied a rather impressive 1.12% to close at 181.00 on solid volume of 133k shares. SBM was once again the largest contributor towards value traded as a total of 400k shares changed hands in the name thanks to a few large crosses. The unrelenting run in NMH continued today with significant foreign participation as 180k shares traded with the name gaining 1.46% to close at 69.50.

Nigeria: ASI +1.29%, USD 31.67m

The Banking sector was on steroids again today as the Bank10 Index rallied 2.95% as both local and foreign institutional investors continue to speculate ahead of full-year results. Leading the sector higher were the likes of Zenith (+9.83%), Sterling Bank (+8.64%) and Diamond (+7.84%) as mid-tier banks continue to outperform their top-tier counterparts. Consumers were rather quite with the likes of Nigerian Breweries gaining 1.60%. There was a new leader in terms of activity and came in the form of Diamond Bank with some aggressive buying taking place throughout the session.

South Africa: Top 40 -0.46%, USD 2.20bn

The JSE ended the day lower with the Top 40 Index falling 0.46% to close at 35,508 while value traded amounted to USD 2.20bn. Financials were the day's biggest losers with the Index falling 1.03% followed by Resources and Industrials which fell 0.68% and 0.18% respectively. The Rand was trading at 8.77 and 11.72 to the USD and EUR respectively by the time local markets closed.

Zambia: LuSE -0.25%, USD 371k

Another rather impressive day in Lusaka with value traded amounting to USD 371k thanks to a cross in REIZ. The names that traded included BATA, CEC, REIZ, PUMA, ZAIN, ZNCO and ZSUG. REIZ was the biggest contributor towards turnover with value traded in the name amounting to USD 339k. BATA was the second biggest contributor towards turnover with value traded in the name amounting to USD 17k.

Zimbabwe: Ind +0.41%, Mining unch, USD 1.80m

Activity remained buoyant on the local bourse as turnover remained well above the $1m mark at $1.80m inching marginally higher than yesterday’s $1.73m. Volumes traded slightly improved to 8.37m shares from yesterday’s 8.20m though active counters declined from Monday’s 32 against today’s 29. Local institutional investors have marked their return on the equities market with heavy trading in Delta (0.960m units), DZHL (1.1m units) and Pearl (4.375m units), while foreign participation resulted in a net outflow position of $11 089 after foreign purchases declined -85.76% to $232,469 against improved foreign sales of $243,558 from $78,009. The industrial index closed +0.41% firmer at 160.65pts after gains in Econet, Lafarge, Meikles, FBC and Innscor offset by losses in Seedco, Radar and DZHL. Econet added +1.06% to 485.11c closing with an offer at 500c as Meikles rose a further +14.23% to 24c. Conglomerate Innscor advanced +1.06% to 77.01c while Lafarge put on +9.09% to 60c. Seedco slid -3.90% to 74c albeit on thin volumes while Radar was -14.29% lower at 12c. Dairiboard retreated -1.08% to 23c as 1,129,072 exchanged hands. TPH lost 0.40c or -4% to trade at 9.60c as Zimplow shareholders this morning approved the company's plan to buyout TPH minorities in order to complete the merger of the two companies. The name of the holding company will be changed from “Zimplow Limited” to “Zimplow Holdings Limited”. The resources index remained stagnant at 72.25 pts .There was no trades recorded in any of the counters.

African Currencies