Movers & Shakers: March 01, 2013

Botswana: DCI +0.08%, USD 1.5m

Sechaba saw the lion’s share of the action today as it accounted for just under 60% of turnover. The stock closed at 1592t. BIHL also saw some decent activity as the name traded actively closing at 1045t. Some trades also went through in Letshego, demand remains strong although the name closed unchanged at 215t.

Egypt: Closed for the day.

Kenya: NSE 20 -0.18%, USD 6.7m

Equity turnover climbed 128.2% driven by improved volumes on KCB Bank which accounted for 57% of market activity. Foreign investor participation rose to 42.8% of trades compared to 24.8%. KCB Bank fell 5.6% to KES 36 as investors sold the bank following FY12 results. Whereas profits for the bank were in line with our estimates, investors seemed a bit disappointed with the dividend payout which came in lower than expected. Scangroup fell 7.7% to KES 66 after the marketing services company released weak FY12 numbers with EPS being 13% lower y/y. BAT Kenya held up steady, up 1.7% after it released results which marginally beat our estimates. Bamburi eased 0.5% to KES 203 on thin volumes after releasing disappointing numbers for FY12 at the close of the previous session. KenolKobil gave notice that its negotiations with Puma Energy regarding a potential acquisition of control shareholding in the company had been terminated. The announcement w hich came at close of trading said that KenolKobil director will continue to pursue alternatives to enhance shareholder value. Bloomberg confirmed with Puma Energy that the discussions had been terminated through mutual agreement. The oil marketer traded thin volumes during the day and ended unchanged at KES 13.50. The benchmark NSE 20 index trended moderately lower ahead of general elections to be held on Monday next week. Please note that the market will be closed next week Monday and Tuesday due to elections.

Mauritius: Semdex +0.47%, USD 2.24m

A strong finish for the week in Port Louis as the Sem-7 and Semdex rose by 65bps and 47bps respectively. Among the Sem-7 names, the outperformers were MCB (+41bps, Rs184.75), NMH (+1.39%, Rs73) and ENL Land (+12bps, Rs42.65) which was offset by Bramer Banking which got hurt by 2.31% to close at Rs7.18. Outside the Sem-7, Sun Resorts was the most active name with the stock eventually settling down 1.34% at Rs29.50.

Nigeria: ASI +0.33%, USD 19.2m

A much more reserved day in Lagos to start the month as less than $20mill changed hands and the index gained 33bps. The BNK10 grew by 75bps with the leaders in the sector Fidelity (+2.58%, N3.18), Zenith Bank (+1.69%, N21.10) and FCMB (+1.44%, N4.93). Consumer stocks were also mixed with Dangote Sugar +50bps, N8.05 on good volume. NB closed down 2.12% at N161.50 while Cadbury closed up 1.72% at N35.50.

South Africa: Top 40 +1.13%, USD 1.75bn

The JSE ended the day higher with the Top 40 Index gaining 1.13% to close at 35,653 while value traded amounted to USD 1.75bn. Industrials were the day's biggest gainers with the Index gaining 1.64% followed by Financials which gained 1.49% while Resources fell 0.05%. The Rand was trading at 9.08 and 11.79 to the USD and EUR respectively by the time local markets closed.

Zambia: LuSE +0.60%, USD 22.9k

The LuSE All Share Index closed at 3,960.08 points, up by 0.60% from yesterday's close of 3,936.56. The market recorded price changes in SCZ - K0.05 and ZCCM-IH - K12.50. Trading activity was also recorded in PUMA, CEC, CELTEL, LAFARGE , ZAMBREW, ZANACO, ZSUG and FQMZ. A total of 146,900 shares were transacted in 35 trades resulting in turnover of K 121,682 equivalent to US$22,950.

Zimbabwe: Inudsutrials +1.16%, Mining -4.94%, USD 2.37m

ZSE stocks closed the week higher snapping a four day losing run boosted by a recovery in Delta and gains in other big names Econet, Old Mutual, CBZ and DZL. The industrial index rose 1.16% to 184.76points but failed to offset earlier losses as it closes the week down 0.99% on week on week basis. Delta recovered 2.27% or 2.50c to 112.5c albeit on light trades as selling pressure which characterised the past few sessions evaporated, Econet rose 1.69% to 72.2c spurred by the psychological “drop” in price following the 10:1 share split approved by shareholders yesterday. Dually listed financial services group, Old Mutual hit an all time high of 201c after rising 5.79% in line with firm international price though it remains significantly discounted 43% relative to JSE and LSE. The mining index shed 4.94% to close at 68.45 points after Bindura pared 16% to 2.10c. Other mining stocks recorded no trades. Week on week the mining index slipped 12.01 points (14.93%).

African Currencies