Movers & Shakers: May 23, 2012

Botswana: DCI Unch, Vols USD 304k

Gaborone witnessed increased activity on the back of Letshego which accounted for 92% of the day turnover with 1,348,800 shares trading in the name at 150t. BIHL traded 5t higher at 1000t while Barclays lost 1t to end the day at 710t.

Egypt: EGX 30 +1.19%, Vols USD 65m

The market managed to rebound today to end the day up 1.19% to close at 4921.88 points. Volumes were above, market traded a total turnover of USD 65m. With Egypt’s first post-revolution election the market was expected to trade negatively on anxiety towards the election, yet the market managed to gain on the back of optimism towards the election. The market witnessed buying interest in the telecom sector today particularly ETEL, ORTE and OTMT, as EMOB tender offer ends today, Local institutions and retail are anticipating the proceeds of the EMOB sale will be redirected to telecoms sector.

Investor mix:
•  Foreigners were net Sellers by 86.05 mn EGP and were 27.18% of the market.
•  Egyptians were net Sellers by 2.90 mn EGP and were 54.55% of the market.
•  Arabs were net Buyers by 88.95 mn EGP and were 27.18% of the market.
•  Institutions were net Sellers by 10.27 mn EGP and were 49.99% of the market.
•  Retail were net Buyers by 10.27 mn EGP and were 50.00% of the market.

Kenya: NSE 20 +0.15%, Vols USD 3.89m

Decent day in Kenya today with value traded amounting to $3.89m. Kenya Commercial Bank was rather active today, the day after going ex-div as a result of foreign interest in the name with a total of 2.85m shares traded. There was a fair amount of activity in EABL thanks to a cross early on in the session with 270k shares changing hands. Safcom came under a bit of pressure, falling 2.86% to close at 3.40 with 12.95m shares traded. Foreigners were net sellers and accounted for $1.9m of total sales while they accounted for $1.78m of total purchases. The market managed to close in positive territory with the NSE 20 index gaining 0.15% to close at 3,678.02.

Mauritius: Semdex -0.19%, Vols USD 2.4m

The Semdex followed international markets ending the day in negative territory. Turnover was geared towards the banking stocks. 142k shares of SBM were traded out of which some 81k were crossed. The counter closed 0.60% higher at Rs84.50. MCB saw 50,139 shares trade in the name 0.59% lower at Rs170. Terra also witnessed high vols with 215k shares trading in the name at Rs38.60. NMH traded flat at Rs73. The Dem's also witnessed increased vols on the back of cross in ENL (P) which lost 10.71% at Rs2,500 on 3k shares.

Nigeria: ASI -0.12%, Vols USD 21.12m

The market continues to struggle, the CBN governor's comments about more pressure on the currency did not help all the negative sentiments that are weighing on the market already. The activity levels were relatively high early on with block trades prevalent but the crosses subsided into the latter part of the session. The banks in particular struggled although FBN stood out +3.58% (the big seller that has been around is either complete or did not participate today). FCMB took a beating -2.45%, AMCON has stopped buying the name. Wapco, Unilever and Dangflour all closed at limit down or thereabouts.

South Africa: Top 40 -1.92%, Vols USD 1.20bn

The JSE ended the day lower with the Top 40 index falling 1.92% to close at 28,971 while value traded amounted to USD 1.20bn. Resources were the day's biggest losers with the Index falling 2.42% followed by Industrials and Financials which fell 1.87% and 1.02% respectively. The Rand was trading at 8.43 and 10.61 to the USD and EUR respectively by the time local markets closed.

Zambia: LuSE -1.48%, Vols USD 191k

Decent day in Zambia with value traded amounting to USD 191k thanks to crosses in SCBL and REIZ. The names that traded included CECZ, LAFA, PUMA, REIZ, SCBL, ZNCO and ZSUG. SCBL was the biggest contributor towards turnover with value traded in the name amounting to USD 94k. REIZ was the second biggest contributor towards turnover with value traded in the name amounting to USD 90k.

Zimbabwe: Industrial +0.03%, Mining +2.04%, Vols USD 1.4m

The ZSE remained largely flat in mid week trades with the industrial index inching up 0.03% to 133.26pts. Ariston led the gainers ending the day +3.7% higher at 1.4c. FBCH and Turnall followed after rising +3.33% and +3.08% to 6.2c and 6.7c respectively. Counters to end in the red were led by Phoenix that traded -30% weaker at 0.7c whilst selling pressure in Meikles and ZBFH followed having dropped -4% and -0.99% to 12c and 10c respectively. Innscor lost -0.21% to 60.98c. Delta succumbed to selling pressure declining -0.03% to 69.98c and closed net sellers at that level. RioZim posted a +2.04% rebound to 50c helping the mining index to a +2.48% rise to 83.95pts. Bindura came off -28.57% to 2.5c while Falgold and Hwange were stable at prior levels.