Movers & Shakers: June 27, 2013

Botswana: DSE +0.02%, USD 4.06m

Another very impressive day in Gaborone with value traded amounting to USD 4.06m thanks to a cross of 15m shares in FSG which accounted for 77% of today's turnover. Letshego was also rather active with 2.77m shares changing hands on the day.

Egypt: EGX 30 +0.95%, USD 31m

Against all odds the market managed to trade the day with a positive sentiment ahead of Sunday’s protests, leaving the EGX30 to end the day up 0.95% to close at 4,685.09. market continues to trade weak volumes yet a slight improvement to recent average turnover, the market traded a total turnover of USD 31m. The market started the day with a positive sentiment mainly lead by OCIC(+1.37%), as the name continues to gain interest after the EFSA approved the MTO, yet local retail investors managed to pick up the momentum and started increasing their exposure in the market (After being net sellers in the last couple of weeks) in names such as AMER, HELI and OTMT each ending the day 5.13%, 3.40% and 2.63% respectively, it’s worth mentioning both local and international institutions ended the day as net sellers.

Investor mix:
•  Foreigners were net Sellers by 15.45 mn EGP and were 24.75% of the market.
•  Egyptians were net Buyers by 11.18 mn EGP and were 69.09% of the market.
•  Arabs were net Buyers by 4.27 mn EGP and were 6.23% of the market.
•  Institutions were net Sellers by 14.97 mn EGP and were 44.61% of the market.
•  Retail were net Buyers by 14.97 mn EGP and were 55.38% of the market.

Kenya: NSE 20 -0.39%, USD 5.6m

Turnover declined 3% even as foreign investor share of activity rose to 60.4% compared to 49% in the previous session. Safaricom and EABL were the leading losers of the day among the large movers shedding 2.3% and 2.7% respectively as demand on the two large caps continued to remain low. Local institutions were broadly out of the market, a trend that has sustained a bear market over the last two or so weeks. KenolKobil lost 1.6% while Total inched 0.3% lower as the Cabinet Secretary for Energy toured the Kenya Petroleum Refinery and promised to keep the facility open despite the slightly higher product costs. Discussions were made to upgrade the facility. CIC Insurance notched 2.2% higher after management was quoted as looking for equity financing from an international financier to expand into Uganda and South Sudan. This appeared to provide some relief to the other insurers following a disappointing trading session previously. Centum lost 7.7%, retreating after an 8.3% jump in the previous day.

Mauritius: Semdex +0.31%, USD 674k

Activity continued to slow down in Mauritius today with value traded amounting to a rather dissapointing USD 674k. Banking stocks rebounded with MCB gaining 0.8% to close at 186.50 while SBM gained 1.0% to close at 1.03. NMH continued to slide with the hotelier losing 0.4% to close at 70.75.

Nigeria: ASI +1.03%, USD 25.59m

Apart from action in the banking sector and Nestle ($1.37m) things were rather quiet in Lagos. Banks were once again on the charge today with the Bank 10 index gaining 1.90% thanks to Zenith bank (+4.26%) and Guaranty Trust Bank (+3.99%) as the recovery in the names continue with investors seeking value at these lower levels. Consumers were also stronger with the Consumer Goods Index gaining 0.79% as Dangote Sugar (+9.52%), PZ Cussons (+4.65%) and Flour Mills (+3.49%) all put in a rather impressive performance. Zenith Bank ($4.15m) and Guaranty Trust Bank ($3.58m) also drove the market in terms of turnover.

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

South Africa: Top 40 +0.22%, USD 1.56bn

The JSE ended the day higher with the Top 40 index gaining 0.22% to close at 34,655 while value traded amounted to USD 1.56bn. Industrials were the day's biggest gainers with the Index gaining 0.56% followed by Financials which gained 0.33% while Resources fell 0.14%. The Rand was trading at 9.99 and 12.98 to the USD and EUR respetively by the time local markets closed.

Zambia: LuSE +0.45%, USD 673k

Impressive day in Lusaka (relatively speaking) with value traded amounting to USD 673k thanks to a cross in CEC of 3.6m shares with value traded in the name amounting to USD 534k. There was also a bit of action in Zambeef (46k shares) and SCZ (112k shares).

Zimbabwe: Industrials -0.87%, Mining unch, USD 700k

The ZSE witnessed another slump in today’s session amid results presentation by a number of companies. African sun traded unchanged at 2c after reporting a 65% improvement in EBITDA to $3.5m though higher finance cost on the back of 40% gearing reduced the group’s profitability relative to the prior year. Hunyanialso reported better profits that were 11% up at $0.33m after effective cost containment measures spurring buyers to raise bids to 3.5c while it was offered at 4c with no trades. Elsewhere Dawn properties found its way into the top fallers shedding 8% to 1.01 despite improved figures for their full year to march 2013. The Industrial Index thus shed 0.87% to 212.57pts while the Mining Index remained unchanged at 73.29pts. foreign participation was subdued with buyers softening 59% to $0.31m while foreign sellers eased 68% to $0.24m.

African Currencies