Movers & Shakers: June 03, 2013

Botswana: DCI +0.02%, USD 899k

Choppies was the only game in town today accounting for almost the entire market. The name closed at 300t. BIHL was the only other name to trade with any sort of size and closed at 1049t.

Egypt: EGX 30 -1.29%, USD 45m

The market witnessed notable selling today lead buy institutional investors (local), leaving the EGX30 to end the day down 1.29% to close at 5,305.52 points. The market continues to trade very weak volumes yet a slight improvement to recent average turnover, the market traded a total turnover of USD 45m. With the lack of catalyst in the market the market witnessed notable profit booking lead mainly from local and GCC institutions targeting names such as ORTE, CCAP, and EKHO, each ending the day down 2.55%, 2.56% and 3.30% respectively, yet international institutional along with local retail managed to end the day as the net buyers in the market.

Investor mix:
•  Foreigners were net Buyers by 11.33 mn EGP and were 31.07% of the market.t.
•  Egyptians were net Sellers by 10.30 mn EGP and were 61.02% of the market.
•  Arabs were net Sellers by 1.02 mn EGP and were 7.92% of the market.
•  Institutions were net Sellers by 16.52 mn EGP and were 42.79% of the market.
•  Retail were net Buyers by 16.52 mn EGP and were 57.20% of the market.

Kenya: NSE 20 -0.40%, USD 8.9m

The equities market started the week on relatively flat note with turnover unchanged at KES 746m, and the NSE 20 index slightly easing 0.4% to close at 4986.9 points. Foreign investors accounted for the bulk of trading today at 78.4% of volumes. Safaricom and EABL were the day’s top movers, collectively accounting for 60% of trades. Safaricom eased 0.7% to KES 7.20 despite net foreign buying, while EABL gained 1.6% to KES 373 despite net foreign selling. KCB and Equity bank were also relatively actively traded, with foreign investors accounting for over 80% of demand on the banks. Equity bank eased 0.7% to KES 35.75 on mild profit taking after touching a new year high in last week. Kenya Re was amongst the top gainers and movers list today, on strong local investor demand the reinsurer climbed 3.5% to KES 17.90. Kenya power extended its losses slipping further 2.1% to KES 16.40.

Mauritius: Semdex -0.13%, USD 1.2m

A poor day in Mauritius. The Sem-7 closed down 23bps with only 1 stock in the Sem-7 actually changing price, this was Bramer Banking which lost 4.57% to close at Rs7.10. As always, most of the action was in the 2 banking heavyweights, MCB and SBM which both closed unchanged at Rs195 and Rs1.04 respectively.

Nigeria: ASI +0.10%, USD 16.01m

A very muted day to begin the month in Lagos. Banks were mixed yet still ended the day up 45bps although volumes much quieter than normal in the sector. Stanbic was the main outperformer and ended the day up 9.37% at N17.51 while Skye Bank (-3.16%, N4.60) was the biggest loser. Profit taking was again evident in the consumers with the sector closing down 55bps. Dangote Sugar (-3.16%, N9.20) and NB (-1.63%, N175) were the main drags on the sub-sector while most other names closed unchanged. Nestle saw some decent activity and closed the day up 90bps at N1010.

Please note that the index figure above is correct at the time of writing.

South Africa: Top 40 -2.76%, USD 1.64bn

The JSE ended the day lower with the Top 40 Index falling 2.76% to close at 36,561 while value traded amounted to USD 1.64bn. Industrials were the day's biggest losers with the Index falling 2.91% followed by Resources and Financials which fell 2.55% and 2.01% respectively. The Rand was trading at 9.86 and 12.89 to the USD and EUR respectively by the time local markets closed.

Zambia: LuSE -0.97%, USD 29k

Slow start to the week in Lusaka with value traded amounting to USD 29k. The names that traded included ATEL, BATZ, CEC, LAFA, PUMA, REIZ, SCZ, ZSUG and ZNCO. ZNCO was the biggest contributor towards turnover with value traded in the name amounting to USD 14k. CEC was the second biggest contributor towards turnover with value traded in the name amoutning to USD 6k.

Zimbabwe: Industrials -0.49%, Mining +0.47%, USD 710k

Last Friday’s constitutional court ruling compelling the president to announce dates for harmonized elections which should be held by 31 July 2013 saw the industrial index open the month -0.49% softer at 211.33pts. Driving the losses for Industrials were heavy weight falls in Econet -2.9% to 68c and Innscor -2.2% to 90c. Econet weakened further today following last week’s dismal full year results reflected a -14% decline in profit after tax to $140m. Innscor’s fall was largely due to waning demand. Conversely, minings were +0.47% up driven by nickel miner Bindura’s 1.4% recovery to 2.9c as the counters seeks to find neutral trading ground. Value of trades registered -67.1% dip to $0.71m on the back of the prevailing negative sentiment. Foreign purchases were -78.3% lower at $0.21m while foreign sells +554% up to $0.28m with net outflows of $0.07m.

African Currencies