Movers & Shakers: May 27, 2013

Botswana: DCI +0.03%, USD 880k

Sechaba was 86% of the turnover today as the name saw chunky action before closing at 1662t. FNBB (365t) saw some action while scraps traded in a few others names. Letshego closed at 240t on tiny volumes.

Egypt: EGX30 +0.37%, USD 28m

The market traded with a mixed sentiment today to end the day in slightly higher, leaving the EGX30 to end the day up 0.37% to close 5,319.90 points. The market continues to trade very weak volumes yet a improvement yesterdays volumes, the market traded a total turnover of EGP197m. The market started the day with a negative sentiment with local and international institutions as net sellers perusing the market to reach a low of 5,274.44 points, yet after med-session local and international institutions managed to turn be net buyers changing the market sentiment to trade in the greens, targeting names such as COMI, JUFO and OTMT each ending the up 1.38%, 0.20% and 2.08% respectively. It’s worth mentioning that retail investors along with GCC institutions ended the day as net-sellers(after being net buyers over the last couple of sessions) targeting names such as HELI, TMGH and PHDC each ending the day down 1.04%, 0.73% and 0.45% respectively.

Investor mix:
•  Foreigners were net Buyers by 6.72 mn EGP and were 22.65% of the market.
•  Egyptians were net Sellers by 3.13 mn EGP and were 70.55% of the market.
•  Arabs were net Buyers by 3.95 mn EGP and were 6.81% of the market.
•  Institutions were net Buyers by 9.47 mn EGP and were 32.91% of the market.
•  Retail were net Sellers by 9.47 mn EGP and were 67.08% of the market

Kenya: NSE 20 -0.26%, USD 5.0m

Equity turnover climbed 48.1% as activity picked up after the weekend. Foreign investors accounted for 50.2% of the day’s activity, up from 47.1% in the previous session. Rea Vipingo announced 1H13 results before close of the trading session with EPS for the sisal grower falling 8.5% to KES 3.18. The stock declined 2.3% to KES 21. National Bank commenced a rebranding over the weekend. The stock rose 1.2%. Total Kenya and KenolKobil rose 2.6% and 0.5% respectively ahead of their AGM’s both scheduled for Thursday, this week. EABL continued reversing gains, today heading 2.3% lower. Carbacid was broadly flat during the day on thin volumes. The natural carbon dioxide maker could be one of the companies affected by new proposals by the Ministry of Mining which proposes a 10% free carried stake by a government owned National Mining Corporation. The new proposals will see the contentious 35% local ownership requirement for miners revoked.

Mauritius: Semdex +0.34%, USD 665k

Slow start to the week in Mauritius with value traded amounting to USD 665k. MCB completely dominated activity and accounted for 59% of turnover as a total of 63k shares traded in the name with 34k thereof being foreign purchases. SBM managed to close the day higher at 1.04 on low volume of 2.07m shares.

Nigeria: ASI +0.12%, USD 17.9m

With the US and the UK it was no surprise that the day was rather quiet in Lagos. The banks gained 30bps with some activity shown in the Tier 1 names. UBA gained a solid 3.66% (N8.50) to lead the gainers while the biggest faller was FBNH (-1.42%, N18.09). Tier 2 names were very quiet. Consumers fell by 23bps with Cadbury reversing last week’s incredible gains (-10%, N58.08). UACN also fell by 2.28% to N57.41. Offsetting these were gains in Dangote Sugar (+6.06%, N10.50) and Unilever (+3.24%, N66.55).

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

South Africa: Top 40 +1.20%, USD 777m

With the US and UK out it was quiet in Johannesburg although green dominated the screens. The ZAR was trading at R9.61, R12.44 and R14.51 v the USD, EUR and GBP respectively at the time of writing.

Zambia: LuSE +0.22%, USD 126k

Not a bad start to the week with value traded amounting to USD 126k thanks to a cross in LAFA. The names that traded included AETZ, BATZ, CEC, FQMZ, NATBREW, LAFA, ZAMBREW, ZSUG and ZNCO. LAFA was the biggest contrbutor towards turnover with value traded in the name amounting to USD 64k. NATBREW was the second biggest contributor towards turnover with value traded in the name amounting to USD 39k.

Zimbabwe: Industrials -0.15%, Mining +0.59%, USD 630k

Subdued trades were witnessed in the week opening session with the market recording trades valued at $0.63m -64% down and volumes -48% lower to 1.8m against last Friday levels. Reduced activity was partly due to low foreign participation with foreign purchases declining -43% to $0.29m and foreign sales falling -21% to $0.33m. Despite the week’s slow start, 65 counters held at previous levels and 7 advanced with only 1 loser. The day’s loser was conglomerate Innscor shedding -1% to 92c on trades worth $1,840 and closing buyers at the trading price weighing negatively on the industrials which eased 0.15% to 211.76 points. On the other hand mining were firm +0.59% to 74.58pts driven by Bindura’s +1.72% gain to 2.95c.

African Currencies