Movers & Shakers: June 06, 2013

Botswana: DCI +0.31%, USD 16k

Absolutely dead in Gaborone today with value traded amounting to a paltry USD 16k. With such large tunrover going through the market over the last few sessions a slow down in activity was not surprising.

Egypt: EGX 30 -0.21%, USD 39m

The market continues to trade with a negative sentiment lead by notable selling from local retail and institutional investors, leaving the EGX30 to end the day down 0.21% to close at 5,061.02 points. Market volumes were weak relative to recent turnovers, the market traded a total turnover of USD 39m. The market traded a the day with notable selling but with less selling momentum compared to previous sessions, local investors went back to being notable sellers after being the only buyers yesterday, names such as EKHO, JUFO and HRHO witnessed notable selling each ending the day down 3.75%, 2.20% and 1.96% respectively, yet names such as MOIL, ORTE and OCIC managed to gain investors interest today, each ending the day up 4.17%, 0.89% and 0.67% respectively, its worth mentioning that EFSA said today that OCI NV is legal, and file is expected to get the final decision today.

Investor mix:
•  Foreigners were net Buyers by 44.06 mn EGP and were 31.44% of the market.
•  Egyptians were net Sellers by 36.72 mn EGP and were 62.81% of the market.
•  Arabs were net Sellers by 7.33 mn EGP and were 5.75% of the market.
•  Institutions were net Buyers by 21.88 mn EGP and were 46.57% of the market.
•  Retail were net Sellers by 21.88 mn EGP and were 53.42% of the market.

Kenya: NSE 20 +0.09%, USD 8.2m

Equities turnover fell 41.3% with Bamburi and EABL being the leading movers of the day as block trades in EABL and Safaricom reduced. Foreign investors accounted for 39.1% of the session’s activity, declining from 42.2% in the previous day. Activity was well distributed across the top five movers, which accounted for 65.9% of turnover. Equity Bank fell 1.4% as the company appointed a new group FD and replaced the MD and FD in the Tanzania unit who are said to have left the bank. Centum eased 2.2% with profit taking continuing on the investment firm despite robust FY13 results. KenolKobil notched 0.5% higher despite an earlier loss during the session after the oil marketer sued the Kenya Petroleum Refinery claiming KES 3.2bn. The company won KES 5bn from the Kenya Pipeline Company through an arbitration process but the amount has never been settled. The Somali Federal Government through a release from the Prime Minister’s office clarified today its position on territorial waters claiming waters extending into Kenya by reiterating the 200nm claim compared to the 12nm claim acceptable claim under international maritime rules. The decision effectively puts Somalia in conflict with Kenya and Yemen.

Mauritius: Semdex -0.23%, USD 1.74m

Solid day in Mauritius with value traded amounting to an improved USD 1.74m. Banking giants MCB and SBM drove activity thanks to a few large crosses with 75k shares and 12.51m shares changing hands in the names respectively. Activity picked up in NMH today but was still rather dull as 45k shares traded in the counter after a 20k cross at 72.

Nigeria: ASI +0.14%, USD 43.04m

Very Impressive day in Lagos with value traded amoutning to $43.04m thanks largely to Nestle ($6.80m), Zenith Bank ($5.51m) and Nigerian Breweries ($5.17m) thanks to a number of very large crosses in the counters. Consumer stocks also drove performance with the Consumer Goods Index gaining 0.62% thanks to PZ Cussons (+3.88%) and UACN (+3.71%). FCMB (+4.17%) was very strong today after going ex-div yesterday followed by UBA (+2.09%) which managed to put in another solid performance and help the Bank 10 Index gain 0.46%. Market heavyweight DangCem had a rather choppy session with the counter trading as high N231 but then later selling off to close at N208.49.

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

South Africa: Top 40 -1.17%, USD 2.03bn

The JSE ended the day lower with the Top 40 Index falling 1.17% to close at 35,869 while value traded amounted to USD 2.03bn. Industrials were the day's biggest losers with the Index falling 1.56% followed by Financials and Resources which fell 1.50% and 0.17% respectively. The Rand was trading at 9.98 and 13.17 to the USD and EUR respectively by the time local markets closed.

Zambia: LuSE +0.06%, USD 30k

Back to normal in Lusaka with value traded amounting to USD 30k. The names that traded included CEC, INVESTRUST, NATBREW, ZSUG and ZNCO. ZSUG was the biggest contributor towards turnover with value traded in the name amounting to USD 19k. ZNCO was the second biggest contributor towards turnover with value traded in the name amounting to USD 8k.

Zimbabwe: Industrials +0.92%, Mining -2.45%, USD 2.01m

The market rebounded with turnover +367% up to $2.01m largely underpinned by block trades in CBZ and DZHL. 5m CBZ shares worth $725,000 exchanged hands with an accompanying +3.6% price jumps to 14.5c. In DZHL 2,5m shares valued at $770,835 were transacted with a +3.3% price uplift to 31c. The market impetus also came from foreign players with inflows surging +479% to $0.95m and outflows +951% up to $0.73m. Heavy cap stock gains in Delta, Econet and Innscor saw the industrial index firm 0.92% to 215.96pts on selective buying. Beverages giant Delta was +0.64% up at 152c wile telecoms group Econet added +1.47% to 69c on resurgent demand. Dually listed group Old Mutual put on +0.42% to 241c and SeedCO continued to defy its rather dismal full year financial performance adding +0.85% to 78.5c. Demand also filtered to mid and small cap stocks which led today’s movers. The mining index shed -2.45% to 70.53 pts driven by Bindura’s -6.9% fall to 2.7c on continued selling pressure.

African Currencies