Movers & Shakers: March 15, 2012

Botswana: DCI +0.32%, Vols USD 81k

Gaborone witnessed increased activitity today with turnover at USD 81k and the DCI up 0.32%. Engen appreciated by 10t to 560t. Sechaba up 5t to 1211t while Cresta edged up 1t to 102t. Letlole was the sluggard of the day closing 14t lower at 100t. Letshego traded flat on 2,519 shares.

BRVM: BRVM Composite +0.59%, BRVM 10 +0.33%, Vols USD 235k

The BRVM ended the day higher with the BRVM Composite gaining 0.59% to close at 150.55 while the BRVM 10 gained 0.33% to close at 174.66. Value traded for the day amounted to USD 235k. Solibra was the day's biggest gainer with the counter rallying 7.50% to close at XOF 185,220. Filtisac was the day's biggest loser with the name falling 1.89% to close at XOF 2,600.

Egypt: EGX 30 +1.55%, Vols USD 82m

The market ended the day in positive territory, leaving the EGX30 index up 1.55%, at 5,169.43 points on below average volume of USD 82m. Buying interest was evident across the board from mainly local investors with Blue chips grabbing most of the attention today, the likes of OTMT, COMI and ESRS ending the day up 1.37%%, 2.61%, and 4.62% respectively. The former saw strong buying interest from the start and led the market in terms of value and volume accounting for approx 15% of today's total turnover.The increased interest came on the back of expectations of a soon announcement of the EMOB deal date. Moreover, the real estate sector continues to surge following the recent selling pressure witnessed in the sector.

Investor mix:
•  Foreigners were net Sellers by 25.67 mn EGP and were 25.40% of the market.
•  Egyptians were net Buyers by 26.84 mn EGP and were 67.00% of the market.
•  Arabs were net Sellers by 1.17 mn EGP and were 7.60% of the market.
•  Institutions were net Sellers by 28.93 mn EGP and were 38.38% of the market.
•  Retail were net Buyers by 28.93 mn EGP and were 61.61% of the market.

Ghana: Vols USD 87k

Value traded on the Ghanaian Stock Exchange amounted to USD 87k. GOIL was the biggest contributor towards value traded (26.86%) with the name closing at 0.34. SCB was the second biggest contributor towards value traded (23.50%) with the counter closing at 52.21.The central bank announced that the country's saving in two oil funds reached $69.2mill in 2011.

Kenya: NSE 20 -0.20%, Vols USD 3.85m

A disruptive day in Nairobi with the on-going internet issues cutting off communications and shutting down the NSE for a period during the session. Despite this, activity was quite buoyant with $3.85mill trading, mostly in EQBNK with crosses and activity almost all trading at the 18.50 level and the name closing unch at 18.50 for the day. Diamond Trust Bank was also active ahead of the rights offer. The bank plans to sell 24.5mill shares on the basis of one-for-eight held in order to strengthen its presence in East Africa, trading up +2.78% at 92.50. Other blue chips were relatively muted. The Kenyan shilling dropped for a second day as oil importers continue to buy USD to pay for mid-month purchases, currently trading at KES82.64. Foreigners were net buyers of equities with total foreign purchases amounting to $1.45m while foreign sales amounted to $110k.

Mauritius: Semdex -0.17%, Vols USD 765k

The Semdex witnessed increased activitiy with approx USD 765k worth trading today. Vols were mainly attributable to SBM which saw a cross of 129k shares trade at Rs77.50 at market opening. MCB traded unchanged at Rs163. On the hotel front, Sun lost 0.76% at Rs39.20 on 7,900 shares. Lux ended 0.99% higher on 56k shares. NMH was unchanged at Rs71 on thin vols. Rogers lost 1.67% to Rs295.

Nigeria: ASI -1.16%, Vols USD 17.72m

Somewhat quieter day in Lagos with the bears winning (ASI -116bps) on vols dominated by some block trades in select names. Consumer names once again flavor of the month - NB was the most active counter today, seeing some decent 2way all at the ex-div price of 94.89, closing on strong bid (7.5mill on bid at the close). Guinness found some buying interest closing up 1.34% at 228.02 after yesterday’s weakness. Nestle closed unch at 462.37 but this due to the 50k rule in Nigeria, even though for most of the day the stock traded down and closed on net offer. The banking sector continues to see weakness with the BNK10 index -2.41%. FCMB traded decent vol and closed limit down today at 3.80 on net offer (25.9mill on offer at the close) after the profit warning was issued earlier in the day (FY PAT expected to be -N9bn compared with previous guidance of N10.8bn). Next week sees the MPC hold its second meeting of 2012 – expectations are for the MPR to stay unch at 12%.

South Africa: Top 40 -0.61%, Vols USD 3.03bn

Heavy volume on the jSE today as a result of futures close out with value traded amounting to USD 3.03bn while the Top 40 Index fell 0.61% to close at 30,334. Resources were the day's biggest losers with the Index falling 0.79% followed by Industrials and Financials which fell 0.70% and 0.12% respectively. The Rand was trading at 7.63 and 9.97 to the USD and EUR respectively by the time local markets closed.

Zambia: LuSE -0.82%, Vols USD 3.9k

Exceptionally quiet day in Zambia with value traded amounting to USD 3.9k. The counters that traded included SCBL, PUMA, LAFA, CECZ, ZSUG, INVE and NATB. LAFA was the biggest contributor towards turnover with value traded in the name amounting to USD 2.2k. CECZ was the second biggest contributor towards turnover with value traded in the name amounting to USD 564. Reuters reported that a Nigerian investment bank is looking to partner with Zambia's largest power distributor Copperbelt Energy Corporation in order to finance the development of six new hydroelectric power stations worth over $1bn.

Zimbabwe: Industrials -1.12%, Mining -0.80%, Vols USD 2.9m

Harare was hyperactive in selected stocks today as buoyant foreign demand pushed daily value of trades to $2.9m up 197% on yesterday’s trade. Delta recorded a special bargain of 1,351,168 shares at a premium price of 70c to normal trades that went through at 68c where the group closed offered. Heavy trading also continued in Old Mutual after yet another block trade of in excess of 400,000 units went through today pushing the stock’s value of trades to an estimated 25% of the total trades for the day. Other trades worth noting were seen in Pearl $262,660, FBCH $186,269 and Econet $114,929. Heavy Cap stock declines drove the market lower with the main stream industrial index sliding -1.12% to 138.89pts. Dragging the market lower was Delta that came off -2.72% to 68c; Agro industrial concern Hippo thatshed -2.86% to 102c; FMCG Conglomerate Innscor that traded -1.68% softer at 58c and International banking group Barclays that came off -0.25% to 4c. Rio closed the day -4.26% lower at 45c on news that their renewed recapitalization bid could face new challenges following objections from the regulatory authority SEC saw the resources index falter 0.8% to 85.47pts.