Movers & Shakers: March 25, 2013

Botswana: DCI +0.02%, USD 87k

No surprise as yet another very dull day in Botswana as just 87k changed hands. Some activity in NAP and Sefalana while the major counters very quiet.

Egypt: EGX 30 -0.36%, USD 31m

The market managed to continue to trade with a mixed sentiment to end the day in negative territory, the EGX30 ended the day down 0.36% to close at 5,231.17 points. The market continues to trade extremely weak volumes compared to average turnover, the market traded a total turnover of USD 31m. The market witnessed a notable buying at open to reach a high of 5270.05 points this is mainly lead by notable buying from local retail investors, yet after an hour of trading local and international institutions pressured the market to trade in the reds, targeting names such as OCDI, HRHO and ORTE each ending the day down 2.49%, 1.34% and 1.33% respectively, it’s worth mentioning that HRHO investor relations manager announced that Qinvest takeover deal will expire by May 4th if the EFSA did not approve the deal.

Investor mix:
•  Foreigners were net Sellers by 32.69 mn EGP and were 28.01% of the market.
•  Egyptians were net Buyers by 11.18 mn EGP and were 67.54% of the market.
•  Arabs were net Buyers by 21.51 mn EGP and were 4.45% of the market.
•  Institutions were net Sellers by 34.12 mn EGP and were 36.89% of the market.
•  Retail were net Buyers by 34.12 mn EGP and were 63.10% of the market.

Kenya: NSE 20 +0.41%, USD 8.9m

The Equities market started the week on a positive note with the NSE 20 index climbing 0.41% recouping some of the losses made in the previous sessions. Equity turnover jumped 107%, driven by increased foreign investor inflows accounting for 43% of trades compared with 33% in the previous session. Supported by strong foreign investor demand, KCB (+1.3%, KES 39) was the day’s top mover accounting for 28% of volumes. Foreign investors provided most of the demand on EABL, Bamburi (+0.5%) and Equity bank and most of the supply on Safaricom. Access Kenya sustained its momentum gaining 8.9% to KES 9.20 on a demand overhang. CFC Stanbic recouped some of the losses made in previous sessions climbing 6.4% to KES 58.00. On the losing end National Bank eased 10% to KES 20.25 after announcing a 53% y/y drop in FY12 earnings.

Mauritius: Semdex +0.02%, USD 741k

A very dull day in Mauritius as volumes light across the board. The bulk of the action was in SBM which ended unchanged for the session at Rs1.02. MCB dropped marginally by 26bps to Rs191.50 on thin volumes while Alteo and ENL Land gained 14bps and 22bps to Rs 34.75 and Rs45.10 respectively.

Nigeria: ASI -0.12%, USD 17.78m

A rather slow start to the week with value traded amounting to a dissapointing $17.78m. Banking stocks managed to bounce back a bit with the Bank10 Index gaining 0.29% with the likes of UBA (+1.62%) and Guaranty (+0.64%) leading the sector higher. Today was once again very much a block dominated day as liquidity was rather low and a few big crosses dominated trading. From an activity point of view, Zenith Bank, Nigerian Breweries and Guaranty Bank drve the action.

South Africa: Top 40 -0.22%, USD 1.52bn

The JSE ended the day lower with the Top 40 Index falling 0.22% to close at 35,415 while value traded amounted to USD 1.52bn. Resources were the day's biggest losers with the Index falling 1.44% while Industrials and Financials gained 0.45% and 0.36% respectively. The Rand was trading at 9.30 and 11.98 to the USD and EUR respectively by the time local markets closed.

Zambia: LuSE -0.32%, USD 37k

Dull start to the week in Lusaka with value traded amounting to USD 37k. The names that traded included BATA, CEC, PUMA, ZAIN, ZSUG and ZNCO. CEC was the biggest contributor towards turnover with value traded in the name amounting to USD 16k. BATA was the second biggest contributor towards turnover with value traded in the name amounting to USD 7.5k.

Zimbabwe: Ind -0.77%, Mining +3.69%, USD 1.36m

ZSE stocks opened the week lower as investors take caution with elections looming following the successful referendum earlier this month. Financial results for December released so far have been mixed and hence have failed to provide stimuli. Stocks whose companies are expected to release their results this week, ahead of the March reporting deadline, traded in mixed fortunes in Monday trades. Barclays and TA eased 3.15% and 6.67% to 3.1c and 7c respectively with results expected anytime this week, Nicoz recorded no trades ahead of analyst briefing tomorrow while AFRE and subsidiary Pearl rose 2.47% and 3.92% to 8.3c and 2.65c ahead of analyst briefing this Thursday. ZBFH also expected to release results this week rose 14.295 to 8c. By close of trade, the industrial index had lost 0.77% to close at 184.08. Volumes mproved 3% to 8.4m units with Pearl and Econet accounting for the bulk of the trades. Value traded however declined 42% to $1.36m with foreign participation accounting for $0.84m of the purchases and $0.721m of the sales.

African Currencies