Movers & Shakers: March 11, 2013

Botswana: DCI +0.42%, USD 759k

Activity picked up noticebly today thanks to crosses in the likes of Turnstar (2.2m shares) and Primtime (854k shares) as value traded amounted to USD 759k. The market closed in positive territory with the DCI gaining 0.42% to close at 8,045.50.

Egypt: EGX 30 +0.16% USD 53m

The market managed to continue with its bullish sentiment lead notable buying from local institutional investors, leaving the EGX30 to end the day slightly higher up 0.16% to close at 5,403.37 points. Market volumes slightly improved today the market traded a total turnover of USD 53m, its worth mentioning that more than 40% of the total turnover was attributed to crosses in names such as COMI, JUFO, AUTO and UEFM. With no change on the political front the market continued with the same sentiment on low volumes, local retail investors ended the day as notable seller along with International and GCC institutions. ORTE continues to be suspended pending the disclosure to be sent from Vimplecom regarding the news that surfaced last Thursday that Algeria to Sign Accord on VimpelCom’s Djezzy this Week which was later denied by an Algerian official, yet it’s worth mentioning we have been seeing cautious buying in the GDR listing. Investors f ocus continue to be on high beta stocks, names such as PHDC, ACGC and PIOH managed to gain investors interest each ending the day up 1.86%, 3.28% and 2.15% respectively.

Investor mix:
•  Foreigners were net Sellers by 9.85 mn EGP and were 33.12% of the market.
•  Egyptians were net Buyers by 24.70 mn EGP and were 60.19% of the market.
•  Arabs were net Sellers by 14.84 mn EGP and were 6.69% of the market.
•  Institutions were net Buyers by 41.81 mn EGP and were 51.64% of the market.
•  Retail were net Sellers by 41.81 mn EGP and were 48.35% of the market

Kenya: NSE 20 +2.96%, USD 7.6m

The equities market started the week on a high note as the country remains peaceful after the announcement of the just concluded presidential election results. The benchmark NSE 20 index witnessed its largest one day gain up 2.96% (+16.4% YTD) closing at a 4 year high of 4,796.33 points. Equity turnover climbed 62.4%, as local investor appetite remained strong accounting for 69% of the days trades. Equity bank was the day’s top mover accounting for 16% of volumes. The bank gained 4.2% to KES 31.25 with foreign investors providing most of the supply on the counter while local investors were keen buyers. Safaricom also witnessed foreign investor selling though the counter sustained its momentum edging up further 2.5% to KES 6.15. KenolKobil continued to recoup losses made after announcing a profit warning earlier last week ,notching up 6.8% to KES 11.75. Insurance stocks continued to dominate the leading gainers list ahead of FY12 e arnings announcement. Jubilee, Liberty, and Kenya Re Insurance extended their gains climbing, 9.7% 9% and 9% to KES 207, KES 8.30 and KES 13.90 respectively. Of the counters traded only 4 declined, 38 gained and the rest remained unchanged.

Mauritius: Semdex +0.16%, USD 850k

Things got off to a slow start this week ahead of a public holiday tomorrow (independence day) with value traded amounting to USD 850k. As is usually the case MCB dominated activity with strong foreign interest in the name as the counter gained 0.26%. SBM on the other hand came under some pressure, falling 0.97% to close at 1.02. Hotelier NMH saw significant selling pressure today with the counter falling 4.00% as crosses went through at 72.00.

PLEASE NOTE THAT THE MARKET WILL BE CLOSED FOR INDEPENDENCE DAY TOMORROW

Nigeria: ASI +0.13%, USD 16.72m

Slow start to the week in Lagos with value traded amounting to a rather dissapointing $16.72m as there was a noticeable decrease in foreign participation across the board. Consumer stocks were rather dull with the index closing the day flat with only Nigerian Breweries having some activity. Cadbury managed to bounce back after coming under some serious pressure last week with the counter gaining 0.30%, the same can be said for Nestle (+0.60%). Banking stocks ended the day mixed with top-tier banks closing flat while mid-tier banks were mostly weaker.

South Africa: Top 40 +0.62%, USD 1.57bn

The JSE ended the day higher with the Top 40 Index gaining 0.62% to close at 36,391 while value traded amounted to USD 1.57bn. Resources were the day's biggest gainers with the Index gaining 0.92% followed by Industrials and Financials which gained 0.45% and 0.44% respectively. The Rand was trading at 9.12 and 11.87 to the USD and EUR respectively by the time local markets closed.

Zambia: LuSE -0.31%, USD 22k

Dull start to the week in Lusaka with value traded amounting to USD 22k. The names that traded included AELZ, CEC, LAFA, ZAIN, ZNCO and ZSUG. ZNCO was the biggest contributor towards turnover with value traded in the name amounting to USD 11.8k. LAFA was the second biggest contributor towards turnover with value traded in the name amounting to USD 4k.

Zimbabwe: Inudsutrials -0.51%, Mining -2.80%, USD 940k

ZSE stocks opened the week softer in a light session as trading commenced one hour earlier to give way for the official introduction of Zimplow Holdings. The industrial index lost 0.51% to 189.98points while the mining index eased 2.80% to 68.12points after Rio traded 10% softer at 45c. Most big names recorded light trades amid limited deal flow while a block trade of 6.9m shares worth $0.552m in banking group FBCH saved the day. Volumes trades stood at 11.17m units while value traded was 40% higher amounting to $0.94m almost entirely local participation. Foreign participation was limited as purchases and sales dropped 84% and 61% to a paltry $0.04m and 0.03m respectively. Econet continued to trade weaker easing 4.11% to 70c while the telecoms giant announced the downward revision of charges for its money transfer service, Ecocash.

African Currencies