Movers & Shakers: May 20, 2014

Botswana: DCI +0.17%, USD 1.84m

A couple of decent crosses helped volumes to a very respectable $1.84m in Gaborone. The crosses took place in Letshego (214t) and Choppies (410t) while the rest of the market was subdued.

Egypt: EGX 30 +0.88%, USD 181m

Optimism continues to lead the market as the EGX30 reached a new five-year high on decent volumes of EGP1.29 billion ahead of elections. Upbeat local institutions supported HRHO’s rally, leading the stock higher as it heads toward the next tech target of EGP14.50. COMI was up 0.61% trading 2.8 million shares at two times the three-month average turnover. ESRS (+4.53%) traded on decent buying accumulation following the board’s approval of a EGP440 million loan. Towards the session's end, profit-taking was evident from local retail investors targeting OTMT (-1.47%), CCAP (-1.55%), PIOH (-0.15%), and EGTS (-2.55%) where retail feared a false break of the index high and preferred to book some profits.

Kenya: NSE 20 -0.38%, USD 12.6m

Turnover increased today, mostly on the back of the chunky foreign trading in ARML (foreign cross) and KNCB with these 2 names accounting for a little shy of 60% of the total market. Foreign participation on KNCB was heavily skewed to the buy side as the bank closed unchanged at KES 46.75. ARML closed down 1.2% at KES 81.50. The other major names had a mixed day – Safcom gained 40bps to KES 13.05 while EABL lost 1% to KES 292 while Equity Bank ended the day unmoved at KES 37.75.

Mauritius: Semdex -0.06%, USD 1.57m

A mixed day in the Port Louis market today. The Sem-7 lost a mere 4bps with a loss recorded for ENL Land (-1.48%, Rs50.00) while this was offset somewhat by a 23bps gain in MCBG to Rs215.50. The rest of the Sem-7 was unchanged.

Nigeria: ASI +0.40%, USD 24.4m

Crosses still heavily dominate market turnover as general trading remains muted. Today we saw chunky trading in the likes of Zenith ($4.3m) and NB ($3.1m). Banks rebounded solidy by rising by 1.30%, led higher by the likes of ETI (+5%, N14.81), Stanbic (+3.45%, N22.80) and Guaranty (+1.81%, N27.49). Consumers rose by a stead if not spectacular 30bps as the sector continues to grind higher. The strength is still led by NB (+1.22%, N166.50). Dangote Flour released their 2014 Q1 results during the session.

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

Zimbabwe: Industrials -0.08%, USD 940k

Volumes continue to dry up in Harare as the index continues to retreat albeit at a slower pace. On such a slow day its difficult to see any real direction from trading. We saw Econet dip by 78bps to 64.49c but in general we saw low foreign participation on a quiet day.

African Currencies

Country

Notation

Currency

YTD %

South Africa

ZAR

10.38

+1.00

Nigeria

NGN

162.55

-1.38

Kenya

KES

87.73

-1.62

Mauritius

MUR

30.12

-0.23

Botswana

BWP

8.69

-0.59

Tanzania

TZS

1651.00

-3.72

Uganda

UGX

2525.31

+0.07

Rwanda

RWF

681.51

-0.81

Ghana

GHS

2.94

-19.25

BRVM

XOF

478.32

+0.38

Egypt

EGP

7.11

-2.38

Morocco

MAD

8.19

-0.08

Tunisia

TND

1.62

+1.52
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