Movers & Shakers: May 22, 2013

Botswana: DCI unch, USD 3.5m

Another big day in Botswana with a cross in Letshego the bulk of the day’s activity. 11.7m Letshego eventually traded with the name closing at 240t. FNBB (365t) and BIHL (1050t) also saw some decent action while just scraps traded in a couple of other names.

Egypt: EGX +0.17%, USD 30m

The market managed to trade the day in the greens yet on extremely low volumes, leaving the EGX30 to end the day up 0.17% to close at 5,416.20 points. Market volumes were significantly low relative to recent turnovers, the market traded a total turnover of USD 30m. The market managed to pick up some buying interest to trade in the greens on very little momentum this was mainly lead by institutional (local) and local retail investors targeting names such as JUFO, COMI and HRHO, each ending the day up 2.61%, 1.39% and 0.65% respectively, yet GCC investors continue to be net sellers along with international institutions in the market targeting names such as ORTE, EKHO and OCIC each ending the day down 0.85%, 0.95% and 0.030% respectively.

Investor mix:
•  Foreigners were net Buyers by 18.44 mn EGP and were 25.07% of the market.
•  Egyptians were net Sellers by 17.87 mn EGP and were 65.59% of the market.
•  Arabs were net Buyers by 0.56 mn EGP and were 9.35% of the market.
•  Institutions were net Sellers by 14.34 mn EGP and were 37.82% of the market.
•  Retail were net Buyers by 14.34 mn EGP and were 62.17% of the market.

Kenya: NSE 20 +0.10%, USD 19.1m

Equity turnover climbed 77% on the back of improved block trading during the day, and particularly driven by Britam. The insurer moved 52.1% of the market at an unchanged price of KES 8.20 with local institutions moving the bulk of trades. Foreign investors accounted for 32.4% of the day’s activity, down from 63.9% in the previous session. EABL made further gains, adding 3.4% during the session to KES 423 on the back of continued foreign investor interest on the brewer coupled with thin supply. Safaricom was unchanged at KES 7.10 as Orange Kenya touched on the debate of net neutrality in Kenya- suggesting that Google should start paying operators. Scangroup fell 4.3% on thin volumes. KenolKobil notched just 1% higher on continued foreign investor buying, and on the news that the Chairman and MD roles would be split up. The oil marketer will hold its AGM next week. Towards the close of the trading session, a Senator allied to the ruling Jubilee government proposed to bring a Bill that could potentially dismantle Kenya Power distribution network by allowing other players into the subsector.

Mauritius: Semdex unch, USD 1.57m

Once again some trading in MCB kept the Mauritian bourse alive as the name accounted for just under 40% of the daily activity. MCB and SBM both closed unchanged at Rs193.50 and Rs1.04 respectively. The only movers within the Sem-7 were Terra (+1.19%, Rs42.50) and Bramer Banking (-2.20%, Rs7.10).

Nigeria: ASI +0.72%, USD 25.78m

An interesting day in Nigeria as the day was mostly dull yet some crossing just before the close bumped up volumes. Buying across the banks was very much in evidence as the sector closed up 84bps as all names were in positive (with the exception of UBA which traded only at N7.78 (-6.04%) due to the dividend). Buying was equal across all names and the sector just ticked up throughout the day. The consumers also had strong buying interest but a lack of sellers meant that general activity in the sector was muted despite the sector closing up 29bps. Cadbury was the outperformer, the name went bid at limit up 10% (N53.35) early on and remained net bid throughout the day. Dangote Sugar closed up 1.65% at N8.61 after witnessing a large cross while the usual suspects of NB, Guinness, etc were pretty quiet.

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

South Africa: Top 40 +0.02%, USD 1.67bn

The JSE ended the day slightly higher with the Top 40 Index gaining 0.02% to close at 37,309 while value traded amounted to USD 1.67bn. Resources were the day's biggest gainers with the Index gaining 0.62% while Industrials and Financials fell 0.51% and 0.45% respectively. The Rand was trading at 9.56 and 12.31 to the USD and EUR respectively by the time local markets closed.

Zambia: LuSE +0.12%, USD 7.8k

Much of the same in Lusaka with value traded amounting to an absolute dire USD 7.8k. The names that traded included AELZ, ATEL, CEC, FQMZ, PUMA, ZSUG and ZNCO. AELZ was the biggest contributor towards turnover with value traded in the name amountnig to USD 3.3k. FQMZ was the second biggest contributor towards turnover with value traded in the name amounting to USD 1.1k.

Zimbabwe: Industrials +0.70%, Mining -1.20%, USD 2.13m

The main stream index added +0.7% to 211.38pts in mid week trades characterized by selective buying. Most counters remained at previous levels as we saw only 10 movers for the day of which 6 were risers, 4 fallers and 63 unchanged. On the uptick was Masimba +8.6% to 7.6c, Afdis rising +5% to 21c, beverages group Delta recovering +2.1% to 145c, diversified group Meikles gained +2% to 26c and largest financial services group CBZ edging +1% to 14c. Lower bids were witnessed resulting in losses in Afre which eased -7.7% to 12c, cement manufacturer down -6.6% to 255c, nickel miner Bindura tumbling -3% to 2.9c and crocodile skin producer Padenga down -3% to 4.85c. Volume and value traded were subdued with the former -64% down to 7.24m shares and the latter -9% lower to $2.13m. The turnover spread was 48% ($1m) Econet, 17% ($0.36m) SeedCo, 9% ($0.19m) ABC, 6% ($0.13m) CBZ, 5% ($0.1m) Delta and 15% ($0.33m) others. Econet due to report its finals was the newsmaker in today’s tabloids after announcing the appointment of two independent non-executive directors namely Mrs Sherree Gladys Shereni (formerly with the programs director Coca-Cola Africa Foundation) and Mr Godfrey Gomwe, the current CE of Anglo American’s global Thermal Coal business. The company is also reported to have injected US$50 million towards its banking arm TN Bank’s recapitalization and plans to roll out state of the art ATMs simultaneously with the bank’s rebranding exercise. In today’s session Econet top traded after 1.47m shares exchanged hands at a stable price of 70c yielding $1.0m in value of trades.

African Currencies