Movers & Shakers: June 17, 2013

Kenya: NSE 20 -0.93%, USD 3.7m

The equities market started the week on a low note registering a turnover of KES 309.6m, a 40% decline from the previous session. The index continued to weaken slipping 0.9%, as investors continue to take profit across most counters. Of the counters traded 26 declined and only 9 gained. Safaricom was the top mover today accounting for more than half of volumes, with foreigners investors accounting for most of the trading on the counter. The teleco slipped below KES 7 to close at its six week low of KES 6.70. Interestingly, EABL did not register any trades today after witnessing profit taking throughout last week. Kenya Airways recouped some of last week’s losses gaining 3% to KES 10.40. Banking stocks continued to see selling pressure all declining except CFC Stanbic, which climbed 1.5% to KES 68. NIC, KCB and Equity Bank declined the most amongst the banking stocks slipping 5.4%, 2.6% and 3.1% respectively.

Mauritius: Semdex -0.01%, USD 985k

Turnover failed to break the $1m mark with value traded amounting to USD 985k. MCB as per usual dominated activity as a total of 78k shares changed hands thanks to a few crosses, while SBM was rather quiet with 645k shares traded on the day. Not much went on in NHM either as a total if 12k shares traded with the name closing unchanged at 71.25.

Nigeria: ASI -0.44%, USD 16.74m

Very quiet start to the week with value traded amounting to $16.74m as investors seemed to be happy to sit on the sidelines after last week’s strong decline. Both major sectors closed the day lower with the Bank 10 Index falling -1.55% being led lower by the likes of UBA (-5.02%) and Zenith Bank (-2.39%). Consumers closed the day -0.81% softer with the likes of Unilever (-4.75%) and Dangote Sugar (-4.45%) dragging the sector lower. Market heavyweight DangCem was very quiet and closed the day flat at 199.00.

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

Zimbabwe: Industrial Index +0.05%, Mining Index -1.8%, USD 360k

The ZSE saw a quiet session with value of trades down -0.88% to $0.36m accompanied by -94% fall in both foreign purchases and sales as elections continued to dominate the major tabloids with the SADC extraordinary summit on Zimbabwe becoming the major reference point. Industrials were marginally up +0.05% to 219.69 pts though in mixed trades. The small recovery was largely premised on heavy weight gains in Hippo +4.8% to 110c, PPC +1.2% to 253c and Seedco +2.41% to 85c despite being countered by losses in financial giant CBZ -3.5% to 14c, Delta -0.67% to 149c, Natfoods -2.2% to 264c and dually listed Old Mutual -0.42% to 239c. Bindura’s -6.9% decline saw the Mining Index down -1.8% to 72.58 pts.