Movers & Shakers: March 19, 2012

Botswana: DCI -0.04%, Vols USD 68k

Gaborone saw thinner vols today than Friday with only USD 68k worth exchanging hands today. FNBB with 100,113 shares trading in the name at 270t contributed to 55% of the day's turnover. BIHL saw 13000 trade flat at 1055t. Stachart was the only gainer of the day, up 1t to 911t while NAP recorded the only loss of the day, closing 3t lower at 215t.

BRVM: BRVM COMP +0.83%, BRVM 10+1.14%, Vols USD 480k

The market ended the first day of trading in positive territory with the BRVM Comp up 0.83% while BRVM 10 edged up 1.14%. Trading was focused on 19 of the 39 listed companies. Sonatel had the biggest slice of pie with 126,005 shares trading in the name at XOF XOF126,005, accounting for 72% of the day's turnover. BOA Benin increased by 7.50% at XOF 54,825. SOGB CI edged up 2.86% to XOF 79,200. ETI was up 2.70% at XOF 38. BERNABE CI lost 3.33% at XOF 29,000. BICICI fell 1.66% at XOF 37,000 while SICABLE CI was down 1.54% at XOF 32,000.

EGYPT: EGX30 -0.62%, Vols USD 58k

The market ended the day slightly lower, leaving the EGX30 to end the day down 0.62%, to close at 5032.98 points. Volumes remain weak yet an improvement than yesterdays volumes, market traded total turnover of EGP345m. Names such as EMOB ORTE and ESRS traded against the general market sentiment, each ending the day up 0.35%, 0.50% and 0.28% respectively.

Investor mix:
•  Foreigners were net Sellers by 52.80 mn EGP and were 20.96% of the market.
•  Egyptians were net Buyers by 14.46 mn EGP and were 68.78% of the market.
•  Arabs were net Buyers by 38.34mn EGP and were 10.26% of the market.
•  Institutions were net Sellers by 55.23 mn EGP and were 31.25% of the market.
•  Retail were net Buyers by 55.23 mn EGP and were 68.74% of the market.

Kenya: NSE 20 Unch, Vols USD 1.89m

A much quieter day in Kenya as Mondays typically are as well as ahead of a number of dividend closures later in the week. Volume dropped to $1.89mill and the NSE20 was very uninspiring closing unchanged for the day. As expected, Equity Bank traded down as it went ex-div after closing its books on Friday. The name closed down 6.49% closing at KES17.30. National Bank of Kenya released FY11 results this morning which showed a poor 23.5% decrease in EPS, the name trading down 3.53% on the back of this. Kenya Airways also struggled as it traded ex-rights. On the positive side, KenolKobil found some foreign buying after announcing strong FY11 results and traded up 2.2% for the day. We saw a rebound in the shilling on the back of tight liquidity in the money market.

Mauritius: Semdex -0.30%, Vols USD 262k

Mauritius commenced the week on rather thin vols. The market saw USD262k worth trade in today's session. MCB and Rogers contributed to 40% of the days turnover with 9713 MCB trading 0.61% lower at Rs162 while Rogers saw 4600 shares trade 1.69% lower at Rs290. SBM was unchanged at Rs78 after hitting its intra day high of Rs78.50 on relatively thin trading. Lux and Sun added on 10c a piece to end at Rs20.50 and Rs39.50 respectively.

Nigeria: ASI +0.70%, Vols USD 25.56m

A very quiet day in Lagos distorted by a massive cross of 24mill NB shares at N98. NB continues to be a popular choice with foreign investors with the name closing +3.16% at N98. The banking sector found some bullish momentum yet again (+37bps). Part of this can be attributed to FCMB which closed up 2.49% at N3.70 despite trading at limit down and net offered for most of the session until an aggressive buyer entered the market shortly before the close. UACN was also strong today closing limit up at N30.45 – our take on the reason for this is that after their Q3 results were strong it appears that investors are positioning themselves on speculation the company will pay a Full Year dividend. In economic news the Feb inflation number came out unexpectedly slower than expected at 11.9% as record interest rates and the partial removal of the gas subsidy squeezed demand. Consensus is for tomorrows Central Bank meeting to vote for unchanged rate at 12%.

South Africa: Top 40 Unch, Vols USD 1.1bn

The market saw the banks end the day in the red on the back of renewed Greek jitters. ABSA was down 1.87% while Standard Bank lost 0.92%. Other financial stocks ended the day firmer with OML up 1.1%, RMI +1% and MMI +1.5%. Industrials were down 12bps. IPL lost 1.5% and BAW was down 1.3%. Resources ended 0.3% higher on a weaker dollar. Plats rose 0.26%. AMS was up 3% while LOn edged up 2.2%.

Zambia: LuSE +1.03%, Vols USD 60k

The bourse in Lusaka ended the day 1.03% in the green at 3,938.19pts. Turnover stood at USD60,629.87. ZABR led the gainers closing 13% higher at ZMK2,825. Zambeef was up 1.15% to ZMK 2,630 while PUMA added on 0.40% at ZMK 1,016. Zanaco lost 0.09% at ZMK 1,129 while CECZ gave-up 0.15% at ZMK 665. Investrust lost 0.56% at ZMK 17.90.

Zimbabwe: Industrials -0.04%, Mining unch, Vols USD 277k

The industrial index persisted on its losing streak opening the week -0.04% down is a sluggish session. Volumes dropped to 3.1m from 18.5m shares while turnover declined to $277,930 with cement manufacturer PPC recording the only notable trade of the day of 38 093 units worth $100,946. The equities market was dominated by sellers with no noticeable appetite. FBC lost -10% to 6.3c on early profit taking despite impressive results released two week ago, ZPI eased -5.74% to 1.15c, Colcom gave in -3.23% or 1c to 30c while AICO and Pearl lost -0.53% and 0.3% to 18.90c and 3.3c respectively. Trading in the upside was TA rising 7.69% or 1c to 14c on thin trades, ZHL rose 4.555 to 1.15c while Meikles and Natfoods put on 3.03% and 0.96% to 17c and 106.01c respectively. The mining index was steady at 85.45 points. BINDURA, HWANGE and RIOZIM were unchanged at previous trading levels while Falgold was bid and offer at 10c and 11c respectively.