Movers & Shakers: January 17, 2013

Botswana: DCI +0.01%, USD 134k

A reversion to the mean in terms of turnover today after yesterday’s big Letshego cross with just $134k changing hands. Letshego was again the main trader accounting for over 70% of the daily action. The only other names that saw any real activity were Barclays and G4S.

Egypt: EGX 30 -0.52%, USD 57m

The market ended the day in negative territories lead by local and international institutional and local retail profit booking, leaving the EGX30 to end the day down 0.52% to close at 5661.25 points. The market continues to trade weak volumes, this is mainly attributed to the lack of a catalyst in the market, the market traded a total turnover of USD 57m. The market witnessed notable profit today leaving GCC institutional investors as the sole net buyers today, Selling waves was witnessed the market after news emerged and clarification was made on Qatar Egypt Bonds are Part of USD5 bn Aid Package and not an increase, causing many investors to revert again to their profit taking mood considering the continuous lack of a catalyst theses days. NSGB and ORTE are the only stocks that are managed to sustain their position in the greens, each ending the day up 0.98% and 0.28% receptively.

Investor mix:
•  Foreigners were net Buyers by 3.36 mn EGP and were 23.82% of the market.
•  Egyptians were net Sellers by 10.42 mn EGP and were 68.94% of the market.
•  Arabs were net Buyers by 13.79 mn EGP and were 7.24% of the market.
•  Institutions were net Buyers by 13.58 mn EGP and were 67.28% of the market.
•  Retail were net Sellers by 13.58 mn EGP and were 32.71% of the market.

Kenya: NSE 20 -0.17%, USD 6.8m

The equities market witnessed slight profit taking today with the NSE 20 index pulling back 0.17% to close at 4,545.7 points. Equity turnover fell 15.3% driven by a decline in foreign investor activity. Foreign investors accounted for 42% of trades today compared to 54% in the previous session. EABL(-1%) was the day top mover accounting for 16% of volumes driven by both local and foreign investor trading. Driven by strong foreign investor demand, DTB climbed 5.3% closing at a new 12 month high of KES 138. On the other hand strong local investor demand pushed Kengen and Bamburi up 7.9% and 2%, to close at new 12 month highs of KES 13.6 and KES 204 respectively. On the losing end was KCB which witnessed profit taking, easing 5.1% to KES 32.75.

Mauritius: Semdex -0.01%, USD 1.98m

Interest returned to MCB today with a number of crosses taking place at 180.00 as foreigners sought after the stock with a total of 152k shares traded over the day. There was a small amount of profit taking in SBM as the the counter fell 0.54% on 135k shares. NMH was steady at 67.00 on solid enough volume of 109k shares. Total activity across the market increased today as value traded improved to USD 1.98m.

Nigeria: ASI +0.77%, USD 25.15m

Yet again the strength in Lagos continues although profit taking on the banks very evident. BNK10 -1.29% was heavily hit with UBA (-6.82%, N6.15), Diamond (-5.88%, N6.40), Skye Bank (-4.41%, N5.64) and FCMB (-3.35%, N4.90) the main drags on the sector. The session was unusually quiet for most of the day but livened up in the second half as investors got stuck in. Dangote Cement was a big reason for the strength of the ASI, the name closing up 3.81% at N135 after being added to the list of market making stocks while most of the consumer names witnessed good buying (NB +67bps, Guinness +34bps, Flour Mills +2.96%, Unilever +1.52%). In other news, inflation slowed in December to 12% due to the effects of the recent floods.

South Africa: Top 40 +0.23%, USD 1.62bn

The JSE ended the day higher with the Top 40 Index gaining 0.23% to close at 35,562 while value traded amounted to USD 1.62bn. Financials were the day's biggest gainers with the Index gaining 1.00% followed by Industrials which gained 0.40% while Resources fell 0.60%. The Rand was trading at 8.78 and 11.73 to the USD and EUR respectively by the time local markets closed.

Zambia: LuSE -0.79%, USD 9k

Another dull day in Lusaka with value traded amounting to USD 9k. The names that traded included CEC, ZAIN, ZMBF, ZNCO and ZSUG. ZMBF was the biggest contributor towards turnover with value traded in the name amounting to USD 4k. CEC was the second biggest contributor towards turnover with value traded in the name amounting to USD 1.8k.

Zimbabwe: Ind +0.91%, Mining -0.01%, USD 1.53m

Industrials carried its fine run of gains into the 11th day posting a +0.91% rise to 163.33pts buoyed by gains in Old Mutual, BAT, Delta, Econet and Innscor. International financial group, Old Mutual went up 4.90c to trade at 170c whilst Innscor upped 0.90c closing at 79c, Econet and Delta maintained the upward momentum adding 3.99c and 1.93c each in today’s session to close at 510c and 110c respectively. Delta’s surge comes as revenue for the 3rd quarter Oct to Dec is up 14% and 16% year to date supported by improved mix and minimal price increases. Continued foreign buying impetus helped the total turnover for the day to remain above the $1m mark at $1.53m. Total turnover was however -54.77% lower than midweek’s value traded of $3.39m. Foreign balance of payments remained a net inflow position as foreign buying stood at $780,375 against sales of $400,556. The mining index dropped a marginal -0.01% to 73.13pts weighed down by RIO which traded at 57.99c being -0.01c yesterday’s. The other stocks remained steady at previous trading prices.

African Currencies