Movers & Shakers: May 08, 2013

Botswana: DCI unch, USD 976k

Another active day in Botswana with Letshego yet again the bulk of the activity. Letshego accounted for 83% of the turnover as the name closed at 256t. Choppies (300t) and Letlole (165t) also were active while just scraps traded in a handful of other names.

Egypt: EGX 30 +0.58%, USD 41m

The market ended the day in positive territory to continue with its bullish momentum, leaving the EGX30 to end the day up 0.58% to close at 5403.93 points. Market volumes remains weak yet a slight improvement to recent market turnovers, the market traded a total turnover if USD 41m. The market managed to end the day on a positive note lead by notable buying from international institutional investors after being notable sellers over the last couple of weeks, names such as COMI, PHDC and ESRS continue to gain investors interest, each ending the day 2.37%, 1.33% and 0.94% respectively. JUFO witnessed above average volumes to end the day up 1.56% to close at 9.11, this comes after the company released strong 1Q2013 results, Net income more than doubled to EGP96 million beating our estimates of EGP65 million.

Investor mix:
•  Foreigners were net Buyers by 33.74 mn EGP and were 22.69% of the market.
•  Egyptians were net Sellers by 27.70 mn EGP and were 70.04% of the market.
•  Arabs were net Sellers by 6.04 mn EGP and were 7.27% of the market.
•  Institutions were net Buyers by 38.90 mn EGP and were 34.14% of the market.
•  Retail were net Sellers by 38.90 mn EGP and were 65.85% of the market.

Kenya: NSE 20 +0.49%, USD 9.2m

Whereas equity turnover declined 19.8%, the market remained active with volumes traded remaining almost double historical averages. Foreign investors accounted for 44.6% of activity, down from 52.1% in the previous session. KCB Bank released 1Q13 results at the close of trading with EPS up 25%y/y, 7.1% up q/q. Loan growth was flat q/q for the bank while deposits reduced 0.3%q/q. NPL’s rose 9.7%q/q. During the trading session, the regional bank notched 1.8% higher on foreign investor demand ahead of the interim numbers and the final dividend whose books closure is next week, 13 May 2013. Safaricom rose 0.7% a further to KES 7.20 with demand continuing to outstrip demand particularly earlier in the day and persisting until close of trading. Leading gainers and losers were made on thin volumes. Uchumi Supermarkets gained 1.1% on block trades which involved local sellers.

Mauritius: Semdex +0.63%, USD 1.17m

A strong day in Mauritius although activity remains somewhat muted. The Sem-7 grew an impressive 76bps with gains in MCB (+1.05%, Rs193), Alteo Limited (+13bps, Rs37.90), ENL Land (+1.51%, Rs47.20) and a mammoth 4.97% gain in Bramer Banking to Rs7.60. The only faller in the Sem-7 was Terra which fell by 12bps to Rs40.75.

Nigeria: ASI +1.93%, USD 31.38m

A very strong day in Lagos as the bulls decimated the bears – screens were green almost across the board. Banks yet again led the charge with the sector closing up 3.62%. The leading names were UBA (+9.49%, N7.50), Zenith (+5.16%, N21.40) and FCMB (+4.17%, N5) although all banking stocks closed in the positive. The banking sector also saw plenty of trading activity. In other sectors, Dangote Cement witnessed some chunky crossing as more than $6m changed hands as the name closed up 1.81% at N178.22. The consumers were a lot quieter although some aggressive buying in NB drove the name up 3.03% to N170. Flourmills, UACN, Cadbury, Dangote Sugar and Nestle all recorded modest gains.

South Africa: Top 40 +1.74%, USD 1.61bn

The JSE ended the day higher with the Top 40 Index gaining 1.74% to close at 35,827 while value traded amounted to USD 1.61bn. Industrials were the day's biggest gainers with the Index gaining 1.85% followed by Resources and Financials which gained 1.60% and 1.35% respectively. The Rand was trading at 9.01 and 11.87 to the USD and EUR respectively by the time local markets closed.

Zambia: LuSE -0.23%, USD 27k

Lusaka back to it's usual ways with value traded amounting to a dissapointing 27k. The names that traded included BATA, CEC, PUMA, SCB and ZNCO. ZNCO was the biggest contributor towards turnover with value traded in the name amounting to USD 12k. PUMA was the second biggest contributor towards turnover with value traded in the name amounting to USD 5k.

Zimbabwe: Industrial +2.78%, Mining +1.74%, USD 760k

Both market indicators which have been trading firm since the beginning of the month maintained the upward momentum with the Industrials breaching the 200 pts mark after adding +2.78% to 200.72pts while Minings gained 1.74% to 73.23 pts. Firm demand in selected heavy weights persisted with gains being witnessed in Delta +3.85% to 135.01c, Econet +5.88% to 72c, Innscor +0.02% to 91.03c, National Foods +4.55% to 230c and OK +6.32% to 23.40c. Interest in resource counters saw Bindura rising 3.45% to 3c and Rio 2.22% to 46c. The positive mood was also witnessed in today’s trading pattern that indicated 18 risers and 4 fallers against yesterday’s 11 risers and 4 fallers. There was a 65% improvement in value traded to $0.76m boosted by local participation and foreign sales which were 974% up to $0.21m. Foreign purchases took a 3.55% dip to $0.30m.

African Currencies