Movers & Shakers: March 12, 2013

Botswana: DCI +0.37%, USD 61k

Asbolute dire day in Gaborone today with value traded amounting to a dissapointing USD 61k as only a handful of names traded. The market closed the day higher with the DCI gaining 0.37% to close at 8,075.51.

Egypt: EGX 30 +0.03% USD 45m

The market ended the day slightly higher relatively unchanged, leaving the EGX30 to end the day up 0.03% to close at 5404.91 points. Market volumes continues to be deceiving, the market traded a total turnover of USD 45m in which more than 10% of total turnover was attributed to crosses. With the ongoing political tension the country is now facing alongside the continuous lack of a catalyst the market barely moved today, with local investors continuing to increase their exposure in the market targeting names such as TMGH, ACGC and RAYA each ending the day up 0.97%, 2.04% and 1.74% respectively, this is mainly attributed to the glimpse of positive news that U.S to transfer USD190mn in Aid in 3 weeks, yet international investors continue to be notable sellers in the market. ORTE resumed trading in the last 60 min of session today after being suspended since last Thursday, the EGX announced that OT has nothing material happening in the Djezz y case hence denying the rumor, yet the name witnessed notable buying on decent volumes to end the day up 1.63%.

Investor mix:
•  Foreigners were net Sellers by 31.79 mn EGP and were 25.89% of the market.
•  Egyptians were net Buyers by 31.01 mn EGP and were 70.50% of the market.
•  Arabs were net Buyers by 0.793 mn EGP and were 3.61% of the market.
•  Institutions were net Sellers by 15.62 mn EGP and were 35.65% of the market.
•  Retail were net Buyers by 15.62 mn EGP and were 64.34% of the market.

Kenya: NSE 20 +3.95%, USD 13.8m

The equities market extended its gains, with the NSE 20 index witnessing its highest one day gain this year up 3.95% to close at 4,985.91 points, 0.3% shy of the 5000 points mark. Equity turnover jumped 83% due to increased foreign investor participation accounting for 56% of trades compared to 31% in the previous sessions. EABL was the day’s top mover accounting for 37.6% of volumes driven by active foreign investor participation on both sides of the counter. The brewer climbed 4.2% to a new high of KES 320. Safaricom also saw active foreign investor participation, gaining 1.6% to KES 6.25. BAT continued to witness foreign investor selling though the counter was up slightly (+0.7%) closing at KES 539. Driven by strong local investor demand, KCB, Co-op Bank and Equity Bank gained 1.9%, 3.5% and 7.2% to close at new highs of KES 40.25, KES 16.15, and KES 33.50 respectively. Liberty Insurance sustained its momentum leading the top gainers list to close the day 9.9% higher at KES 9.95. On the losing end CFC Stanbic witnessed profit taking pulling back 3.2% to KES 60.50, following a rally in previous sessions. Of the counters traded 43 gained, 3 declined and the rest remained unchanged. The Monetary Policy Committee has retained its benchmark Central Bank rate at 9.50%.

Mauritius: Closed for the day.

Nigeria: ASI +1.41%, USD 30.15m

Consumer stocks were absolutely on fire today with the Consumer Goods Index gaining 3.58% thanks to the likes of Guinness (+9.38%) and Nigerian Breweries (+6.48%) as there was a noticeable increase in foreign activity. Total market activity also increased today as value traded amuonted to a rather impressive $30.15m. Banking stocks lagged the broader market with the Bank 10 Index gaining 0.57% with the likes of UBA (+2.12%) and Skye Bank (+2.44%) drove the Index higher. Guaranty Bank and Zenith Bank were the main drivers behind activity thanks to a few large crosses.

South Africa: Top 40 -0.05%, USD 1.53bn

The JSE edned the day lower with the Top 40 Index falling 0.05% to close at 36,374 while value traded amounted to USD 1.53bn. Financials were the day's biggest losers with the Index falling 0.70% followed by Industrials which fell 0.40% while Resources gained 1.01%. The Rand was trading at 9.14 and 11.92 to the USD and EUR respectively by the time local markets closed.

Zambia: Closed for the day.

Zimbabwe: Inudsutrials -1.13%, Mining unch, USD 2.84m

Stocks continue to trade southwards recording a third consecutive loss on Tuesday ahead of the landmark referendum this Saturday. Economic data shows that the economy remains depressed as a result of funding challenges while inflationary pressures are expected to increase following the increase in excise duty on fuel. The mainstream index eased 1.13% to 187.83points while the mining index was unchanged at 68.12points with no activity in the sector. The biggest let down was telecoms giant, Econet which lost a further 7.14% to 65c and was the most actively traded stock after 1.6m units exchanged hands. Trading activity was much thicker as volumes improved 4.2% to 11.6m shares while heavy foreign participation in big names saw turnover triple to $2.84m from $0.94m. Foreign participation amounted to $2.05m (72%) while sales totaled $$1.071m.

African Currencies