Movers & Shakers: May 28, 2013

Botswana: DCI +0.03%, USD 5m

Big volumes in Gaborone today with the bulk of activity shared between FNBB (365t) and Choppies (300t) which each accounted for about 48% of the total market. Outside of these there was virtually no activity with some smalls in Letshego (240t) the best of the rest.

Egypt: EGX30 +1.66%, USD 26m

The market managed to pick its bullish momentum leaving the EGX30 to end the day up 1.66% to close at 5,407.95 points. Market volumes were significantly low relative to average turnovers, the market traded a total turnover of USD 26m. . The market managed to regain its bullish momentum after witnessing some profit booking over the last couple of sessions, this comes after the ORTE tender offer did not go through after Altimo failed to pick-up the required 26% which gave investors optimism towards higher evaluations in the market, the former ended the day up 5.69% to close at EGP4.85. Local institutional investors were notable sellers today yet international institutional investors were aggressive buyers targeting names such as JUFO and ORTE and COMI each ending the day up 6.01%, 5.69% and 1.67% respectively. The real-estate sector managed to regain some interest, were names such as TMGH, and PHDC witnessed above average volumes each ending the day up 2.71% and 0.90% respectively.ded the day down 0.71% and 0.14%. Only handful of stocks managed to end the day in the green, names such as OTMT, JUFO and EAST managed to end the day up 0.43%,1.80% and 1.00%.

Investor mix:
•  Foreigners were net Buyers by 22.27 mn EGP and were 27.33% of the market.
•  Egyptians were net Sellers by 11.53 mn EGP and were 66.80% of the market.
•  Arabs were net Buyers by 10.74 mn EGP and were 5.87% of the market.
•  Institutions were net Buyers by 3.93 mn EGP and were 37.02% of the market.
•  Retail were net Sellers by 3.93 mn EGP and were 62.97% of the market.

Kenya: NSE 20 +0.30%, USD 3.0m

Equity turnover fell 40.5% as activity slowed during the day. Foreign investors accounted for 44.6% of the day’s activity, down from 50.2% in the previous session. Standard Chartered Bank released 1Q13 numbers to March with EPS declining 18.7% to KES 6.05. The counter was up 0.3% during the day on relatively modest volumes. KenolKobil notched higher earlier during the session as investors responded positively to the now split roles of managing director and chairman. The oil marketer however ended unchanged for the day at KES 10.40 as the excitement was tempered by supply at higher prices. A countrywide power blackout engulfed the country in the afternoon, in what Kenya Power blamed on faults in two high voltage transmission lines. The power distributor inched 0.6% lower to KES 17. EABL eased 0.5%, settling at KES 377 as demand from foreign investors put a break to the downward momentum the brewer had developed since mid last week.

Mauritius: Semdex -0.12%, USD 519k

Another dismal day in Port Louis as the sluggish market never got going. The Sem-7 lost 8bps with the fallers being ENL Land (-1.03%, Rs48) and Bramer Banking (-0.80, Rs7.44) while the only gainer was MCB (+0.13%, Rs194.75).

Nigeria: ASI +0.63%, USD 49.29m

Please note tomorrow is closed in Nigeria for a Public Holiday.

A few crosses once again dominated the session in Lagos ahead of tomorrow’s market closure due to a public holiday. Only 2 banks closed in the green, FBNH (+55bps, N18.19) and Stanbic (+2.95%, N15.70) as the sector ended the session down 20bps. All other names lost marginal basis points while volumes were focused in GTB and Zenith. In the consumers, Cadbury continues to hurt after last week’s fireworks and closed the second consecutive session limit down (-9.99%, N52.28) while NB gained 1.27% to N174.08 and Guinness lost 35bps to N279.01, both on good flow. The other consumers also saw decent activity yet hardly changed for the day.

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

South Africa: Top 40 +1.44%, USD 1.54bn

The JSE ended the day higher with the Top 40 Index gaining 1.44% to close at 37,445 while value traded amounted to USD 1.54bn. Industrials were the day's biggest gainers with the Index gaining 1.73% followed by Financials and Resources which gained 1.19% and 0.89% respectively. The Rand was trading at 9.77 and 12.56 to the USD and EUR respectively by the time local markets closed.

Zambia: LuSE +0.31%, USD 44k

Much of the same in Lusaka with value traded amounting to a dire USD 44k. The names that traded included BATZ, CECZ, NATBREW, SCZ, ZAMBREW, ZSUG and ZNCO. BATZ was the biggest contributor towards turnover with value traded in the name amounting to USD 41k. CEC was the second biggest contributor towards turnover with value traded in the name amounting to USD 3k.

Zimbabwe: Industrials +0.17%, Mining +0.23%, USD 1.50m

The market saw an improvement in market activity from yesterday with volumes rising +176% to 5m shares as hotelier African Sun dominated after 1m shares exchanged hands in the group. Funds worth $1.5m were exchanged up +139% from yesterday buoyed by block trades in Innscor, Delta and BAT. Cigarette manufacturers BAT are anticipating 2013 performance to be slightly above last year in its update to shareholder at its AGM today shored up $170,000 at 825c with sellers remaining at the trading price. Market giants Delta and Innscor were the top traded stocks with $492,500 and $484,000. This came on the back of a +134.5% boost in foreign inflows to 0.68m. Both indices recovered with industrials adding +0.17% to 212.13pts while minings were +0.23% firm at 74.75pts. Industrial were driven by gains in African Sun +1.1% to 1.84c on strong demand ahead of interims, Innscor +0.54% to 92.5c, Masimba that is staking its claim amongst the top performers for this year adding +4.8% to 8.5c. Other gains for the day were seen in Meikles that put on +5.77% to 27.5c ahead of its full year results expected in the short term, while Natfoods rose to an all time high of 270c after adding +3.25% for the day.

African Currencies