Movers & Shakers: June 14, 2013

Botswana: DCI unch, USD 5.43m

Massive day in Gaborone thanks to a large cross of 12.26m shares in FNB with value traded amounting to an impressive USD 5.43m. Apart from the cross things were extremely quiet with hardly any other names trading on the day.

Egypt: Closed for the day.

Kenya: NSE 20 -0.65%, USD 6.1m

Foreign investor trading was at 54% compared to 48.4% in the previous session. Activity during the session reduced 12.7% as the market exhibited very weak price performance, a day after the fiscal budget statement was read. The cabinet secretary proposed to introduce capital gains tax but fell short of clarifying whether the measure would affect both securities and properties, or just properties. Safaricom fell 4.1% to KES 7.00 as Telkom Kenya signed an agreement with Eaton Towers to lease its base transmitter stations. EABL fell 2.9% as the duty remission on its high volume; low margin senator keg product was reduced from 100% to 50%. BAT was up 7.1% as investors responded positively to the lack of an additional tax on the tobacco manufacturer. Kenya Airways fell 5.6% after the airline reported disappointing FY13 results before the session opened.

Mauritius: Semdex -0.25%, USD 3.58m

Very active day to end the week with value traded amounting to USD 3.58m thanks to a cross of 2.1m Rockcastle with foreigners on both sides. MCB was relatively active as a total of 69k shares traded while the name continues to come under pressure, falling 1.31% to close at 189.00. Things were slow going in NMH and SBM as a total of 28k shares and 1.11m shares changed hands in the names respectively.

Nigeria: ASI -0.42%, USD 30.54m

Profit taking continued in Lagos today albeit at a slower pace with the ASI falling 0.42%. Banks were the major drag on the market once again with the Bank 10 Index falling 1.45% led lower by the likes of Diamond Bank (-5.12%), Guaranty Trust Bank (-2.81%) and Zenith Bank (-1.96%). Consumers also closed slightly lower with the Consumer Goods Index falling 0.23% thanks to PZ Cussons (-6.76%) and Dangote Sugar (-4.93%). It was another bumpy ride in Dangote Cement with the market heavyweight trading substantially lower for most of the session then managing to bounce and close the day flat at 199.00. It was a robust day in terms of activity with value traded amounting to $30.54m thanks to First Bank ($4.11m), Guranaty Bank ($2.77m), Nestle ($2.27m) and Transcorp ($2.65m) thanks to a very large cross in the counter.

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

South Africa: Top 40 +1.37%, USD 1.66bn

The JSE ended the day higher with the Top 40 Index gaining 1.37% to close at 35,937 while value traded amounted to USD 1.66bn. Industrials were the day's biggest gainers with the Index gaining 1.51% followed by Resources and Financials which gained 1.48% and 0.92% respectively. The Rand was trading at 9.95 and 13.30 to the USD and EUR respectively by the time local markets closed.

Zambia: LuSE +0.15%, USD 301k

Decent day to end the week with value traded amounting to a much improved USD 301k thanks to a cross in CEC. The names that traded included CEC, FQMZ, LAFA, PUMA, SCZ, ZSUG and ZNCO. CEC was the biggest contributor towards turnover with value traded in the name amounting to USD 275k. ZNCO was the second biggest contributor towards turnover with value traded in the name amounting to USD 16k.

Zimbabwe: Industrials -0.04%, Mining -0.52%, USD 3.08m

Increased interest in equities was witnessed in the week ending session that saw funds traded up +62.6% to $3.08m. This was accompanied by a proportionate +78% improvement in volumes traded to 10.7m. The market demand was driven by strong local and foreign participation. Foreign activity saw an almost evenly distribution with foreign buys at $2m and foreign sells at $1.9m respectively. There was however a slowdown in Friday prices in a session where 29 counters traded, 3 gained and 9 lost. Both indices recorded marginal declines with Industrials dropping -0.04% to 219.59pts and minings -0.52% to 74.34pts. Despite taking up the bulk of the funds traded (61%), heavy weight Delta weighed on the industrials after shedding -0.7% to 150c on a foreign selloff following the declaration of elections dates. Contributing to resources slump was Rio’s -2% drops to 49c. In today’s highlights illiquid cable manufacturer Cafca was the top loser easing -25% to settle at the buyers’ price of 30c. Property company ZPI continued trading sideways coming off -4.2% to current support price of 1.15c. Profit takers brought down insurance group Afre -2.8% to 15.5c and hotelier African sun -2.2% to 2.2c.

African Currencies