Movers & Shakers: May 16, 2013

Botswana: DCI -0.04%, USD 931k

An interesting day in Gaborone as almost all names on the bourse traded. The most active names were Sechaba (1650t), FNBB (365t) and BIHL (1049t) while Letshego ticked up marginally to 235t.

Egypt: EGX 30 -0.51%, USD 46m

The market witnessed some profit booking today lead by international institutions and GCC institutions, leaving the EGX30 to end the day down 0.51% to close at 5,427,97 points. The market continues to trade very weak volumes yet a slight improvement to recent average turnover, the market traded a total turnover of USD 46m. The market witnessed some profit booking after trading in the greens yesterday, The EGX30 was struggling today pressured by international institutions selling following the MSCI re-balancing were HRHO and EKHO got deleted from the standard index which Leaves Egypt in a critical level considering the potential departure of both Orascom heavyweights ORTE and OCIC. Names such as EKHO, PHDC and HRHO witnessed notable selling each ending day down 5.22%, 1.27% and 1.71% respectively.

Investor mix:
•  Foreigners were net Sellers by 21.81 mn EGP and were 22.45% of the market.
•  Egyptians were net Buyers by 19.32 mn EGP and were 68.09% of the market.
•  Arabs were net Buyers by 2.49 mn EGP and were 9.47% of the market.
•  Institutions were net Sellers by 23.11 mn EGP and were 40.73% of the market.
•  Retail were net Buyers by 23.11 mn EGP and were 59.26% of the market.

Kenya: NSE 20 +0.76%, USD 8.1m

Equity turnover fell 50.5% on the back of reduced block trading. Foreign investors accounted for 38.8% of activity, down from 71.6% in the previous session. Foreign investors appeared to take profits on KCB Bank and Bamburi, which were the two leading movers of the day. The top four counters in turnover were on a losing streak but the market as a whole managed to make gains. KenolKobil posted another positive session, continuing its upward momentum by climbing a further 9.1% on a day on thin supply, on the back of foreign investor buying into the oil marketer. The counter is still the worst performing in the bourse and is still down 20.2% YTD against a 20% increase from the benchmark index.

Mauritius: Semdex -0.09%, USD 953k

Another quiet day in Mauritius as the bourse remains subdued. The Sem-7 fell by 6bps with the laggards being SBM (-95bps, Rs1.04), NMH (-69bps, Rs71.50) and Bramer Banking (-55bps, Rs7.26). Gains were recorded in Alteo (+1.35%, Rs37.50), ENL Land (+1.04%, Rs48.50) and Terra (+71bps, Rs42.30).

Nigeria: ASI +0.45%, USD 22.08m

Buying returned to NSE today although volumes remain light interspersed with crosses. The banks closed up a solid 34bps with the main overachiever being UBA (+2.47%, N8.70) while the biggest loser in the sector was Diamond Bank (-2.67%, N6.92). Zenith saw a large cross on the open at N21.50 before the name rallied to close up 92bps at N21.85. Consumers were also active with Nestle (unch, N945), Guinness (unch, N275) and NB (+85bps, N174.50) all trading big volumes. Wapco was extremely volatile but eventually closed unchanged at N95. In economic news, April inflation accelerated to 9.1% (up from 8.6%) while GDP grew by 6.6% in Q1 (down from 7% in Q4 2012).

Please note that the index figure above is correct at the time of writing.

South Africa: Top 40 +1.27%, USD 1.91bn

The JSE ended the day higher with the Top 40 Index gaining 1.27% while value traded amounted to USD 1.91bn. Industrials were the day's biggest gainers with the Index gaining 1.72% followed by Financials and Resources which gained 0.67% and 0.49% respectively. The Rand was trading at 9.27 and 11.97 to the USD and EUR respectively by the time local markets closed.

Zambia: LuSE -0.36%, USD 160k

Volumes dropped off today but were still above average with value traded amounting to USD 160k thanks to a cross in CEC. The names that traded included BATZ, CEC, PUMA, SCZ, ZMBF, ZNCO and ZSUG. CEC was the biggest contributor towards turnover with value traded in the name amounting to USD 151k. ZNCO was the second biggest contributor towards turnover with value traded in the name amounting to USD 7k.

Zimbabwe: Industrials +0.55%, Mining +2.18%, USD 580k

The main industrial index traded +0.55% higher to 206.84 pts with record highs in Delta at 136.1c and OK at 28.01c. The resource index was +2.18% up at 74.84pts on Bindura’s 1.35% recovery to 3c. Despite the market gains, activity was subdued with value traded falling-78% to $0.58m and volumes traded dipping -17% to 5.69m shares. The loss in activity was on the back of reduced foreign participation. Foreign purchases eased -90% to $0.22m while foreign sales were down 93% at $0.03m. The market welcomed the first set of results for the March reporting period led by Delta with renewed interest for shares in the brewer. The brewer closed firmly bid at 136c with no sellers in sight while trades were done at 136.1c up +0.81% as the market cheered its impressive performance that was driven by premium brands and increasing operating efficiencies resulting in EPS of 8.49c (6.22c) and a final dividend of 2.23c (1.25c).

African Currencies