Movers & Shakers: May 13, 2013

Botswana: DCI unch, USD 30k

A non-event in Gaborone today as the market barely traded. Tellingly, the most active name was the normally dead Primetime which moved almost half the market and closed at 195t.

Egypt: EGX 30 -0.54%, USD 36m

The market witnessed some profit booking today lead by international institutions and GCC retail and institutional investors, leaving the EGX30 to end the day down 0.54% to close at 5,417.47 points. The market continues to trade low volumes relative even to recent turnovers, the market traded a total turnover of USD 36m. The market witnessed some profit booking after trading in the greens over the last couple of sessions, with names such as AMER, HRHO and CCAP witnessing notable selling pressure, each ending the day down 3.45%, 2.76% and 2.22% respectively, yet names such as ETEL and OCIC managed to hold its grounds to trade against the market sentiment, each ending the day up 0.60% and 0.21% respectively.

Investor mix:
•  Foreigners were net Sellers by 3.29 mn EGP and were 17.53% of the market.
•  Egyptians were net Buyers by 22.90 mn EGP and were 74.95% of the market.
•  Arabs were net Sellers by 26.20 mn EGP and were 7.52% of the market.
•  Institutions were net Buyers by 13.62 mn EGP and were 31.21% of the market.
•  Retail were net Sellers by 6.9 mn EGP and were 68.78% of the market.

Kenya: NSE 20 -0.47%, USD 4.3m

Equity turnover fell 81.1% factoring in the absence of a block trade in CFC Stanbic Bank which accounted for 79.4% of trades in the previous trading session. CFC Stanbic was the leading gainer of the day, up 8.3% as the block trade involving 7% of its shares, transacted at a lower, possibly prearranged, price. Foreign investors accounted for 42.3% of activity, up from 8.4% in the previous session- also distorted by the same trade. Kenya Power fell 4.2% to KES 17.20 as investors continued to punish the stock over a government decision to decline the utility firm a tariff increase. Safaricom eased 0.72% to KES 6.90 ahead of FY13 results due tomorrow before the market opens. Britam closed its books for a KES 0.25 on 10 May 2013 but the price opened unchanged for the week at KES 8.30. KCB Bank will close its book for KES 1.90 dividend tomorrow, 14 May 2013.

Mauritius: Semdex +0.21%, USD 1.06m

A quiet day in Mauritius as volumes continue to remain light. The Semdex meanwhile continues to tick along. The Sem-7 closed up 14bps for the day as SBM (+97bps, Rs1.04), Terra (+24bps, Rs41.20) and Bramer Banking (+26bps, Rs7.68) lead the way. This was offset by NMH which fell by 1.28% to Rs77.

Nigeria: ASI +0.13%, USD 46.01m

Lagos was on fire to begin the new week as chunky crossing across a variety of names spiced up proceedings. Despite the fact that FBNH could only trade at N19.08 (-4.98% on dividend) the banking sector was still very strong, closing up 70bps. The main outperformer was UBA (+2.87%, N8.25) followed by Fidelity (+1.38%, N2.94) and Stanbic (+1.73%, N14.67). Wapco had an interesting day, the normally illiquid name saw some decent crosses go through around the N81 level before a very aggressive buyer pushed the price up to a close of N87 (+8.44%). Consumers were rather mixed (ended unchanged) with a lot of names unchanged. Of those that moves, Nestle fell 66bps to N918.90 and Cadburg fell 89bps to N43.51 while Dangote Sugar gained 3.67% to N8.19. Results out today were from Guinness (Q3) and UBA (Q1). In other news, UACN announced a strategic partnership with Imperial Holdings of South Africa, who will acquire 49% in MDS Logistics (wholly owned subsidiary of UACN who will retain 51% in MDS Logistics).

South Africa: Top 40 -0.45%, USD 1.47bn

The JSE ended the day higher with the Top 40 Index gaining 0.45% to close at 35,740 while value traded amounted to USD 1.47bn. Industrials were the day's biggest gainers with the Index gaining 0.90% followed by FInancials which gained 0.35% while Resources fell 0.20%. The Rand was trading at 9.14 and 11.86 to the USD and EUR respectively by the time local markets closed.

Zambia: LuSE +0.08%, USD 35k

Not much went on in Lusaka today with value traded amounting to USD 35k. The names that traded included ATEL, BATZ, CEC, LAFA, SCZ, PUMA, ZMBF, ZNCO, ZAMEFA and ZSUG. BATZ was the biggest contributor towards turnover with value traded in the name amounting to USD 11.6k. LAFA was the second biggest contributor towards turnover with value traded in the name amounting to USD 11.5k.

Zimbabwe: Industrials -0.06%, Mining -1.20%, USD 1.96m

The ZSE opened the week softer with the mainstream Industrial index dropping a marginal -0.06% to close at 204.61pts breaking a six day rally while the mining index shed 1.2% to 73.24pts. The market saw better liquidity today as shares worth $1.96m exchanged hands indicating a 28% improvement. Total volume traded gained 12.8% to 10.6m shares on the back of a couple of blocks traded in African sun and Dawn. Driving the improvement in liquidity was a 78.2% increase in foreign inflows to $1.8m. Likewise outflows improved 82.24% to $1.2m leaving the market largely in a net inflow position. Losses in heavy cap stocks Econet and Innscor weighed on the market. Telecoms giant Econet succumbed to selling pressure ahead of its much awaited full year results to Feb 2013, shedding -3.3% to 72c.

African Currencies