Movers & Shakers: March 27, 2013

Botswana: DCI +0.21%, USD 2m

Another active day in Gaborone as Letshego sees big action for the second consecutive day, accounting for 98% of the day’s turnover. The name closed the day unchanged at 256t. There was only the bare minimum of scraps that traded in other names.

Egypt: EGX 30 +0.67%, USD 43m

The market managed to end the day in positive territory, leaving the EGX30 to end the day up 0.67% to close at 5,163.66 points. Market volumes remains very weak yet with a slight improvement to recent turnovers, the market traded a total turnover of USD 43m. The market traded the day with a notable positive sentiment this is mainly lead by OCIC and ORTE, as unconfirmed news on Djezzy stating that Algerian and Russian press say deal is near end, yet VimpelCom and OTH announce there is lack of major changes and sources close to matter confirm negotiations still ongoing. Adding to this increased market chatter that OCI has reached a settlement with authority, both names ended the day up 3.04% and 3.13% respectively on decent volumes. Names such as COMI, AMER and CCAP witnessed selling pressure today, leaving each to end the day down 0.71%, 1.75% and 0.60% respectively.

Investor mix:
•  Foreigners were net Sellers by 24.45 mn EGP and were 38.03% of the market.
•  Egyptians were net Buyers by 22.71 mn EGP and were 57.26% of the market.
•  Arabs were net Buyers by 1.73 mn EGP and were 4.70% of the market.
•  Institutions were net Sellers by 19.88 mn EGP and were 49.41% of the market.
•  Retail were net Buyers by 19.88 mn EGP and were 50.58% of the market.

Kenya: NSE 20 +1.52%, USD 9.9m

Equity turnover jumped 92.4% driven by increased local investor activity accounting for 56% of trades. The NSE 20 index climbed 1.52% to 4830.44 points driven by gains made across most large cap counters. KCB was the day top mover accounting for 29% of volumes, driven by strong foreign investor demand. The counter edged up 1.9% to touch a new year high of KES 40.75. Equity bank was also fairly actively traded gaining 9% to KES 33.25 leading the top gainers pack. Safaricom recouped some of the losses made in previous sessions notching higher 2.6% to KES 5.95 as foreign investors turned buyers. Nation Media sustained its momentum touching a new 12 month high of KES 365, though closing the session at KES 349, 5.1% higher than the previous session. On the losing end Access Kenya extended its losses easing 2.6% to KES 9.20 as supply exceeded demand. Total also continued to witness selling pressure sliding 5.7% to KES 13.25 following a profit warning announcement earlier in the week.

Mauritius: Semdex +0.16%, USD 1.3m

A quiet day in Mauritius although the indices ticked northwards. In the Sem-7, 2 of the stocks fell, namely MCB (-78bps, Rs190) and Bramer Banking (-3.15%, Rs8.00) while 4 of the stocks closed in the green. These were SBM (+97bps, Rs1.04), NMH (+68bps, Rs73.50), Alteo (+3.17%, Rs35.80) and ENL Land (+1.1%, Rs46).

Nigeria: ASI 0.12%, USD 21.29m

A much more active day in Nigeria for the penultimate day before the end of Q1. ETI (+1.81%, N14.05) produced some solid results and this gave a bid to the banking sector (BNK10 +1.28%) with most names finishing solidly in the green. The best performers were Guaranty (+2.59%, N26.16) and Access (+2%, N10.20) while FBNH, Diamond and Fidelity all lost ground. Consumers saw some action and were generally strong, Nestle +2.62% to N940 on good volume while NB and Guinness both closed marginally up. Dangote Cement closed down 1.77% at N149.21 on good volumes.

South Africa: Top 40 +0.61%, USD 1.42bn

The JSE ended the day lower with the TOp 40 Index falling 0.96% to close at 35,288 while value traded amounted to USD 1.42bn. Financials were the day's biggest losers with the Index falling 1.26% followed by Industrials and Resources which fell 0.90% and 0.78% respectively. The Rand was trading at 9.29 and 11.88 to the USD and EUR respectively by the time local markets closed.

Zambia: LuSE +1.23%, USD 33k

Quiet day in Lusaka with value traded amounting to USD 33k. The names that traded included CEC, REIZ, SCZ, ZAMBREW, ZMBF, ZAIN, ZNCO and ZSUG. ZNCO was the biggest contributor towards turnover with value traded in the name amounting to USD 17k. CEC was the second biggest contributor towards turnover with value traded in the name amounting to USD 13k.

Zimbabwe: Ind +0.40%, Mining -0.11%, USD 1.39m

The industrial index recovered 0.40% to 182.86 pts in an improved trading session where the value of trades surged past the $1m mark to $1.39m. A select few market heavy weights led the rebound including SeedCO that was +7.7% firmer at 70c, INNSCOR that added +1.19% to 85c and AFDIS that was +4.07% firmer at 23c. The mining index lost 0.11% to close at 63.80 pts dragged down by FALGOLD that shed 0.9% to 11c which offset the marginal 0.08% gain in HWANGE to 12.01c. BINDURA and RIOZIM were unchanged at previous trading levels.

African Currencies