Movers & Shakers: May 10, 2013

Botswana: DCI unchanged, USD 1.85m

A large cross in Choppies the only real attraction in Botswana today (more than 99% of the turnover!). The name closed at 300t. Outside of this the market was non-existent.

Egypt: Closed for the day.

Kenya: NSE 20 -0.58%, USD 22.9m

Equity turnover climbed 203.4% as a block trade in CFC Stanbic Bank moved the market, accounting for 79.4% of trades in the day. The 28m shares trade accounted for 7% of the banks issued shares, in what is thought to be have been an East African institution buying into the bank. CFC Stanbic Bank had declined 4.2% in the previous session, and fell a further 5.3% on the trade which was probably prearranged at that price. Foreign investors accounted for 8.4% of activity, down from 44.3% in the previous session. After an announcement that the government would not raise retail electricity tariffs, investors were selling both Kenya Power and KenGen. Kenya Power lost 4.3% while KenGen notched 3.7% lower. Kenya last reviewed tariffs in July 2008 and Kenya Power was hoping the next adjustment would cover the period to 2016. Kenya Power managing director was later quoted by reporters during the day as saying that official discussions were still ongoing. Safaricom was also on a losing streak easing 3.5% to KES 6.95 on improved supply on the counter.

Mauritius: Semdex +0.36%, USD 984k

A much quieter day again in Mauritius while Sem-7 stocks only recorded gains. The 2 big banks were both unchanged though, MCB at Rs195 and SBM at Rs1.03. The other Sem-7 stocks all rose, NMH +2.30% to Rs78 and ENL Land by 1.06% to Rs47.50.

Nigeria: ASI +0.64%, USD 28.7m

Another strong day of buying in Lagos as the banks and consumers continue to be in demand. Banks were up 65bps with UBA (+ 7.08%, N8.02) and Skye Bank (+2.8%, N5.50) the biggest gainers. There was a fat finger error by a small local broker – they input more than 93m ETI on the bid which got hit, these large trades were later cancelled. Dangote Cement closed the day unchanged at N180 on good volume. In the consumers (+1.31%) we again saw strong buying. Cadbury (+9.75%, N43.90) and Flourmills (+5.74%, N82) were the notable outperformers here while Dangote Sugar, Nestle, PZ, UACN, Unilever and NB all ended the day in the green. Guinness ended the day unchanged at N280 on some chunky crossing.

South Africa: Top 40 -0.26%, USD 1.67bn

A poor day across the board on the JSE as red dominates the screens. The ZAR was struggling, at the time of writing the ZAR was at R9.12, R11.83 and R14 v the USD, EUR and GBP respectively.

Zambia: Data not available.

Zimbabwe: Industrials +0.54%, Mining +1.19%, USD 1.53m

The ZSE sustained its bull run with both the industrials and mining indices consolidating their recent gains to close at 204 pts and 74.13 pts respectively which is 0.54% and 1.19% ahead of yesterday. The recent surge in prices is against a background of the new constitution voted in favor of by Zimbabweans being passed into law by the august house yesterday. Foreign participation remained positive but however skewed towards cherry picked heavy cap counters and today’s foreign inflows were $1.0m a 52% decline from yesterday. Total volume traded surged 34% to 9.4m shares with over 50% being attributed to Barclays and CBZ with both trading unchanged from their previous close of 3.4c and 14c respectively, however total value shed 49% to $1.5m as the recent strong demand in Econet leveled off. Leading the risers today was ZHL which gained 19% to close at 1.2c after major shareholder ZBFH announced resignation of CE Mushayakarara who has been at helm of the group for almost 20 years. Meikles firmed 14% to 25c as the group rerates ahead of its full year results to march expected soon. Pearl properties urged 7.5% to close 3.01c ahead of its AGM in which the shareholders are expected to vote on a possible share buyback. Hwange and Natfoods both gained 7% to close at 15c and 245c respectively. Losses were however realized in Falgold which dropped 14% to 12c amid recent decline in global prices of the precious mineral. Diversified group CFI reversed their recent gains losing 13% to close at 5.2c. NMBZ stumbled 10% to 9c while Aico softened 5% to 8.5c after a commendable recovery earlier in the week.

African Currencies