Movers & Shakers: May 02, 2012

Botswana: DCI +0.03%, FCI Unch, Vols USD 200k

The names that changed price were FSG +2p and two losers which were Engen -1p and Olympia -2p. Barclays and BIHL were the greatest contributors to the value traded, they accounted for almost all of the activity.

Egypt: EGX 30 -0.77%, Vols USD 59m

The market ended the day lower as negative sentiment was evident throughout the session, after deadly clashes erupted near the Ministry of Defense between protesters and civilians supporting the SCAF. The EGX30 index ended the day at 4,906.90 points down 0.77% on average volume of USD 59m. Stocks traded in the red with the exception of OCIC and EMOB with the former continuing to benefit from the demerger process while the latter holds its ground around the EGP195 level aprrox -4% from the tender price. On the other hand, OTMT led the market in terms of value and volume and last printed EGP1.39, 2.82% lower from the open. The Real estate sector took the strongest hit of the day as all names ended the day sharply lower led by PHDC which last traded down 7.85%.

Investor mix:
•  Foreigners were net Buyers by 5.71 mn EGP and were 28.12% of the market.
•  Egyptians were net Sellers by 21.22 mn EGP and were 64.37% of the market.
•  Arabs were net Buyers by 15.50 mn EGP and were 7.51% of the market.
•  Institutions were net Buyers by 9.88 mn EGP and were 38.80% of the market.
•  Retail were net Sellers by 9.88 mn EGP and were 61.19% of the market.

Kenya: NSE 20 -0.16%, Vols USD 3.30m

Banking stocks led from the front in terms of volume with Equity Bank and Kenya Commercial Bank being the biggest contributors towards value traded. A total of 4.89m shares traded in Equity Bank thanks to a cross of 2m shares early on with the buyer being foreign. There were also a few decent crosses in Kenya Commercial Bank with a total of 2.91m shares changing hands in the name. EABL ran out of steam from a volume point of view today with a paltry 1,000 shares traded in the counter as foreign buyers of the name seemed to be happy to sit on the sidelines. Foreigners were net buyers accounting for $2.07m of total purchases while they accounted for $1.49m of total sales. Deputy Prime Minister Musalia Mudavadi joined the United Democratic Forum party and declared he will run for president in elections scheduled for March 2013.

Mauritius: Semdex +0.10%, Vols USD 700k

A very quiet day in Mauritius. MCB was the most active name accounting for 50% of the days val, closing at Mur166.00. NMH was the only name in the SEM-7 that changed px opening at MUR71and closing at MUR72. MUA saw a cross worth $130k at MUR121.

Nigeria: ASI +1.38%, Vols USD 30.45m

Another very active day in Nigeria with the banking sector continuing to lead the way north (BNK10 +3.90%). Once again activity was high in the banks with FBN, Zenith, GTB and Access all closing limit up and with strong bids on decent volume while GTB has reached a 4-year high of N16.82. We expect this to continue tomorrow as the strength of the bids suggest the names will open limit up again tomorrow. A slew of results also kept investors’ eyes glued with FBN reporting good results for Q1. Other results were posted from Wapco and UACN. In the consumer names, Guinness reported their 2012 Q3 numbers which came out softer than expected although the name closed up 1.25% at N240 on good volume. NB continues to grind higher and had another active day with 3mill shares trading with the name closing up 1.05% at N111.26. In general, the market continues to see buying interest (predominantly in the banks) from mostly foreign participants while most of the sell side is local.

South Africa: Top 40 +0.27%, Vols USD 1.58bn

The JSE ended the day higher with the Top 40 index gaining 0.27% to close at 30,446 while value traded amounted to USD 1.58bn. Resources were the day's biggest gainers with the Index gaining 0.60% followed by Industrials which gained 0.18% while Financials fell 0.05%. The Rand was trading at 7.75 and 10.20 to the USD and EUR respectively by the time local markets closed.

Zambia: LuSE Unch, Vols USD 249k

Decent enough day in Lusaka with value traded amounting to USD 249k thanks to a cross of 460k ZABR. The names that traded included CECZ, LAFA, ZABR and ZMBF. ZABR was the biggest contributor towards turnover with USD 246k traded in the name. ZMBF was the second biggest contributor towards turnover with USD 1.8k traded in the name.

Zimbabwe: Industrial -0.46%, Mining +0.12%, Vols USD 2.3m

The main highlight of the day was a special bargain of 99,792,515 M&R shares at discounted price of 1.47c which saw turnover soar to USD 2.3m from $724,428. The industrial index continued south ending the day 0.46% lower at 128.95pts. Innscor pared 1.79% or 1c to 54c, TSL eased 3.60% to 6.7c, Meikles gave up 1.96% to 13.50c while Seedco and Old Mutual lost 5.88% and 0.65% to 80c and 153.99c respectively. BAT lost 6.51% to 201c in ex-dividend trades. Econet increased by 1.67% to 385.03c on local buying. The mining index rose a further 0.12% to 97.27pts by close of trade buoyed by a 2% gain in Bindura at 5.11c. Falgold was steady at 10.25c while there were no trade in Rio and Hwange.