Movers & Shakers: March 07, 2013

Botswana: DCI +0.60%, USD 157k

Letshego back to dominance today as 280k shares traded in the name in an otherwise dull sesssion as a total of USD 157k traded across the market today. Market breadth unfortunately very thin. The market closed the day higher with the DCI gaining 0.60% to close at 8,002.87.

Egypt: EGX 30 +1.95%, USD 55m

Against all odds the market managed to rally, leaving the EGX30 to end the day up 1.95% to close at 5,365.62 points. Market volumes remains relatively weak yet with a slight improvement to recent turnovers, the market traded a total turnover of USD 55m. The market gained some momentum to trade significantly higher, this was mainly attributed to positive news on ORTE posted in an Algerian news paper stating that the Algerian government to Sign Accord on VimpelCom’s Djezzy next week, the name rallied to reach 4.42 up 8.07%. However, the news was denied later by an Algerian government official, by mid-session the EGX suspended trading to verify the news. Furthermore, names such as MOIL, EGTS and COMI also witnessed notable buying, each ending the day up 2.86%, 3.16% and 2.78% respectively. On a political note, the ongoing wrangling on the Parliamentary elections continues as Egypt's administrative Court overturned a presidential decree calling for parliament ary elections on April 22nd, 2013, after referring Egyptian electoral legislation to the High Constitutional Court.

Investor mix:
•  Foreigners were net Buyers by 22.07 mn EGP and were 31.62% of the market.
•  Egyptians were net Sellers by 16.35 mn EGP and were 58.32% of the market.
•  Arabs were net Sellers by 5.74 mn EGP and were 10.06% of the market.
•  Institutions were net Buyers by 25.94 mn EGP and were 49.87% of the market.
•  Retail were net Sellers by 25.94 mn EGP and were 50.12% of the market

Kenya: NSE 20 +0.84%, USD 4.5m

The equities market sustained its upward momentum with the NSE 20 index climbing 0.84% to close at 4,585.07 points, with 36 of the counters traded gaining, 6 declining and the rest remaining unchanged. Equity turnover slipped 6.8% with local investors continuing to dominate the market, accounting for 58% of trades. Safaricom was the day's top mover accounting for 35% of volumes buoyed by strong foreign investor demand. KenolKobil was also actively traded with foreign investors providing over 80% of supply. The oil marketer slipped 2.2% to KES 10.90 trading close to its 12 month low. KCB and Diamond Trust bank gained 1.4% each to close at KES 36 and KES 144 respectively driven by strong local investor demand. EABL extended its gains further climbing 1.4% to KES 295 on strong foreign investor buying. CFC Stanbic sustained its momentum edging up 8.7% to touch a new 12 month high of KES 56 on a demand overhang. Britam also continued to see increased inves tor interest gaining 7.3% to a new year high of KES 8.05, ahead of FY12 earnings which we expect to be strong on the back of increased Investment income as well as strong premium growth. Equity Bank witnessed mild profit taking today easing 0.8% to KES 29.75.

Mauritius: Semdex -0.26%, USD 1.85m

Another decent day on the Island from an activity point of view with value traded amounting to USD 1.85m. MCB continues to drive activity as foreigners continue to push the name higher as a total of 135k shares traded with the name gaining 0.26%. SBM on the other hand came unfer the whip today as the banking giant fell 1.92% on rather thin volume. NMH was also a drag on the index as the hotelier fell 0.66% to close at 75.00.

Nigeria: ASI +0.13%, USD 22.87m

A similar session to yesterday as the start was slow and then picked up as the day progressed. Banks were again non-committal and closed the day down 3bps with none of the names substantially positive or negative. The sector did witness some nice volumes though with most tier 1 names especially active. Consumers were also non-committal – NB and Guinness both closing unchanged at N162.50 and N265 respectively. Nestle and Cadbury got hit though and fell by 3.3% (N849) and 4.79% (N32) respectively while UACN and Unilever rose by more than 4% each although on thin volumes.

South Africa: Top 40 +0.68%, USD 1.35bn

South Africa tracked global markets into the green as the Top 40 closed up slightly. The ZAR continues to struggle and was trading at R9.14, R11.98 and R13.77 vs the USD, EUR and GBP respectively at the time of writing.

Zambia: LuSE unch, USD 41k

Another lack lustre day in Lusaka with value traded amounting to USD 41k. The names that traded included AELZ, BATA, BATZ, CEC, FQMZ, LAFA, SCZ and ZSUG. FQMZ was the biggest contributor towards turnover with value traded in the name amounting t USD 18k. SCZ was the second biggest contributor towards turnover with value traded in the name amounting to USD 7.9k.

Zimbabwe: Inudsutrials -0.39%, Mining +2.88%, USD 2.20m

The industrial index slowed down in Thursday trades snapping a four-day advance weighed by profit taking in Econet and re-rating in fast food giant Innscor after releasing interims to December which were below expectations. The industrial index eased 0.39% or 0.76points to close at 189.85 points. Econet lost 3.90% to 73.99c amid selling pressure with improved liquidity evident since the share split effected last Friday, Innscor pared 4.73% to 90.03c after reporting a 5.8% drop in bottom-line to $25.6m. The group however reported a 5.7% improvement in revenue to $337.8m and declared interim dividend of 0.8c (up from 0.75c). Subsidiary companies Colcom was steady at 25c after the group reported a 56% drop in PAT to $1.173m (HY2012:$2.7m) weighed down by a $1.3m provision attributable to stock obsolescence and doubtful debts while Natfoods was buyers at 143c. Cement maker, PPC lost 3.57% or 10c to 270c on profit taking but remain 35% up YTD. Trading activity w as thick supported by volumes in Econet, Innscor, Mash, Meikles, Barclays and TSL. Overall volumes were 13% higher at 12.35m shares while value traded amounted to $2.2m the bulk of which was local participation. Foreign participation dropped significantly with purchases declining 92% to 0.29m while sales eased 86% to $0.572m. The mining index gained 1.96 points (2.88%) to close at 70.08 points after RioZim climbed 11.11% to 50 cents whilst Bindura and Hwange were steady at 2.1c and 16c respectively while FALGOLD recorded no trades.

African Currencies