Movers & Shakers: June 04, 2013

Botswana: DCI +0.28%, USD 896k

Fair amount of activity in Gaborone today thanks to a cross in Letshego of about 2m shares with total value traded amounting to USD 896k. Things were rather dead besides the cross with market breadth very thin.

Egypt: EGX 30 -1.57%, USD 38m

The market continues to witness profit booking today lead by local institutions and retail investors, leaving the EGX30 to end the day down 1.57% to close at 5,222.27 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 38m. The market continued with its profit booking sentiment as fear continue to rise regarding the political and economical instability in country with increasing calls for a massive protest on the 30th of June, local investors(retail and institutional) were aggressive sellers in the market targeting names such as CCAP, JUFO and HRHO each ending the day down 3.95%, 3.47% and 3.07% respectively. OCIC was one of the few names that managed to trade against the general market sentiment, this comes after EFSA announced today received the ful EGP255 tender offer, which is almost a premium of 10% over previous close, the former ended the day up 1.80% to close at EGP234.64.

Investor mix:
•  Foreigners were net Buyers by 19.50 mn EGP and were 22.34% of the market.
•  Egyptians were net Sellers by 32.09 mn EGP and were 68.50% of the market.
•  Arabs were net Buyers by 12.58 mn EGP and were 9.16% of the market.
•  Institutions were net Buyers by 4.61 mn EGP and were 40.27% of the market.
•  Retail were net Sellers by 4.61 mn EGP and were 59.72% of the market.

Kenya: NSE 20 -0.03%, USD 23.1m

Equities turnover climbed 160% on the back of trades in EABL and Safaricom. Foreign investors accounted for 83.4% of the day’s activity, rising from 78.4% in the previous session. EABL and Safaricom accounted for 74% of trades up from 60% in the previous day. It appeared as though a large foreign institutional investor was booking profits for some clients after a strong rally in the two counters over the last year. Most of the leading movers of the session were broadly unchanged with Safaricom losing 1.4%. Centum pulled back from an earlier rally to end the day unchanged. The investment company announces FY13 results to March tomorrow, 5 June 2013. Total Kenya notched 1.2% higher while KenolKobil eased 1.4% on thin volumes as news emerged that the main Kenya refinery could be shut down to reduce the cost of fuel in the economy. Oil marketers prefer importing processed crude rather than using the refinery because of the lower pricing.

Mauritius: Semdex +0.20%, USD 791k

Rather slow day in Mauritius with value traded amounting to USD 791k. MCB reached a new record high of 196.00 on rather thin volume of 24k shares while there were a few large crosses in SBM with foreigners participating on both sides of the name as a total of 8.55m shares changed hands in the counter. NMH was rather quiet as a total of 30k shares traded in the name.

Nigeria: ASI +1.77%, USD 29.66m

Much better day in terms of activity today with value traded amoutning to a rather pleasing $29.66m. Activity was largely driven by banking giants Zenith Bank ($6.50m) and Guaranty Trust Bank ($3.08m). The Banking Index closed in positive territory with the Bank 10 Index gaining 0.88% thanks to ETI (+2.99%), First Bank (+2.44%) and Skye Bank (+2.83%). Consumer stocks were also rather active with big crosses in the likes of Nestle ($2.73m), Nigerian Breweries ($1.61m) and Cadbury ($1.17m) while the sector also closed firmly on the front foot with the Consumer Goods Index gaining 2.37% thanks once again to Nestle (+5.94%) and Dangote Sugar (+4.35%).

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

South Africa: Top 40 -0.47%, USD 1.5bn

A mixed day for the JSE as its closed the day in the negative while the ZAR continues to rebound from its recent weakness. At the time of writing, the rand was trading at R9.75, R14.92 and R12.74 v the USD, GBP and EUR respectively.

Zambia: LuSE -1.45%, USD 115k

Some small activity in a couple of names for a change in Lusaka. The top traded stocks were Lafarge, SCZ, Zanaco and CEC.

Zimbabwe: Industrials +0.71%, Mining -2.74%, USD 1.4m

The ZSE was on the rebound in Tuesday trades buoyed by gains in Innscor and Delta. Innscor was on a rebound adding +2.44% to 92.2c as the FMCG conglomerate recovered from yesterday’s lull. Beverages giant Delta powered to a new all time high of 150.11c after adding +2.81%. The market also witnessed an improvement in activity across the board as a total of twenty eight stocks recorded trades yielding $1.4m in value of trades largely driven by foreign demand that accounted for 82.3% of the day’s total purchases while outflows were a mere $373,872. Minings continued to sing the blues shedding -2.74% to 72.3pts weighed down by a -6.7% drop in Hwange to 14c. Other mining stocks were stable at prior levels

African Currencies