Movers & Shakers: March 28, 2013

Botswana: DCI +0.11%, USD 72k

Normal dull service resumes in Gaborone as nothing trading – literally scraps trading in a handful of names.

Egypt: EGX 30 +0.65%, USD 123m

The market managed to end the day in positive territories, leaving the EGX30 to end the day up 0.38% to close at 5,183.20 points. Market volumes remains weak yet with a slight improvement to recent turnovers, the market traded a total turnover of USD 46m. The market traded the day with a positive sentiment lead by notable buying in ORTE, as many investors continue to buy the name aggressively on the back of market chatter that Vimplcom will reach an agreement with the Algerian government on Dejeezy by the end of this month, its worth mentioning that both OTH and Vimplcom has announced that talks are still ongoing, the former ended the day up 3.04% on strong volumes. Names such as JUFO, PHDC and TMGH traded the day against the general market sentiment, each ending the day down 0.89%, 0.49% and 0.26% respectively.

Investor mix:
•  Foreigners were net Sellers by 1,441.9 mn EGP and were 43.10% of the market.
•  Egyptians were net Sellers by 1,852.1 mn EGP and were 6.63% of the market.
•  Arabs were net Buyers by 1,271.7 mn EGP and were 50.27% of the market.
•  Institutions were net Buyers by 932.03 mn EGP and were 96.28% of the market.
•  Retail were net Sellers by 932.03 mn EGP and were 3.71% of the market.

Kenya: NSE 20 +0.63%, USD 5.5m

Equity turnover fell 44% ahead of the long Easter weekend. Local investor activity accounted for 59.4% of trades up from 56% in the previous session. KCB Bank was the leading gainer among the large movers during the day, up 1.8% to KES 41.50. EABL was the largest mover with 36.2% of total volume. Locals were selling the brewer while foreign investors were buying. Diageo, the largest spirits manufacturer globally and EABL’s parent, has set up a new Africa Spirits Transformation unit, viewing spirits as an important driver of earnings within the continent. National Bank of Kenya had a relief rally, climbing 8.5% to KES 22.25 after disappointing FY12 numbers. At the close of trading, the Kenya National Bureau of Statistics released inflation numbers for March showing inflation having declined 34bps to 4.11%.

Mauritius: Semdex +0.53%, USD 843k

A dull day in Mauritius as just $843k changed hands while the index continued to march higher. In the Sem-7, NMH (-34bps, Rs73.25) and Bramer Banking (-25bps, Rs7.98) were the only fallers while we saw gains in MCB (+26bps, Rs190.50), Alteo (+1.96%, Rs36.50), ENL Land (+2.17%, Rs47) and Terra (+3.54%, Rs41).

Nigeria: ASI +0.20%, USD 22.49m

It’s the last day of Q1 in Lagos due to the holidays tomorrow and Monday. The banks started on fire after ETI results spurred some aggressive buying in the sector early on. This petered out very quickly though and the BNK10 actually ended the day down 6bps. FBNH and Skye Bank were the only names that closed in the positive in the sector. A large bookover in Skye Bank dominated activity in the sector. Consumers were quiet and also mixed, Nestle closed up 1.06% at N950 on decent volume while NB closed up a marginal 9bps at 163.20.

South Africa: Top 40 -0.08%, USD 1.43bn

The JSE ended the quarter marginally soft as the market now closes over the Easter weekend as Resources dragged on the index. The rand was stronger, trading at R9.20, R11.81 and R13.97 v the USD, EUR and GBP respectively at the time of writing.

Zambia: LuSE -1.65%, USD 10k

Another dull day in Lusaka with value traded amounting to USD 10k. The names that traded included CEC, SCZ, ZAIN, ZNCO and ZSUG. ZNCO was the biggest contributor towards turnover with value traded in the name amounting to USD 7k. CEC was the second biggest contributor towards turnover with value traded in the name amounting to USD 2k.

Zimbabwe: Ind +0.56%, Mining +3.78%, USD 1.93m

The industrial index firmed 0.56% to end the holiday shortened week at 183.88pts. Values of trades continued to improve in a week that coincided with the end of the first quarter in which the ZSE enjoyed a rallying start to the year that has seen the industrials close with a year to date return of 20.66%. The level of activity in the stocks was much improved with the volume of shares traded almost doubling to 13.79m shares yielding $1.93m in value of trades. The mining index was 3.78% firmer at 66.21pts buoyed by a +10.67% gain in BINDURA to 2.80c. No changes were seen in the rest of the mining stocks.

African Currencies