Movers & Shakers: May 29, 2013

Botswana: DCI -0.02%, USD 45k

Activity grinded to a near halt today with value traded amounting to a dissapointing USD 45k. Thin trade was the name of the game in Gaborone as it was mostly local retail investors who dominated trading today.

Egypt: EGX30 -1.33%, USD 48m

The market witnessed notable selling today lead by local institutional investors, leaving the EGX30 to end the day down 1.33% to close at 5,338.09 points. The market continues to trade very weak volumes yet a significant improvement to recent average turnover, the market traded a total turnover of USD 48m, its worth mentioning that more than 7% of total turnover was attributed to crosses in JUFO, the name managed to continue with its strong bullish momentum to end the day up 0.95%. The market witnessed notable profit booking lead mainly from local institutions targeting names such as PHDC, CCAP, and HRHO, each ending the day down 2.67%, 3.09% and 1.99% respectively, yet GCC and international institutional investors along with local retail managed to end the day as the net buyers in the market.

Investor mix:
•  Foreigners were net Buyers by 3.20 mn EGP and were 39.83% of the market.
•  Egyptians were net Sellers by 8.51 mn EGP and were 54.46% of the market.
•  Arabs were net Buyers by 5.31 mn EGP and were 5.72% of the market.
•  Institutions were net Sellers by 8.40 mn EGP and were 53.19% of the market.
•  Retail were net Buyers by 8.40 mn EGP and were 46.80% of the market.

Kenya: NSE 20 +0.39%, USD 6.4m

Equity turnover climbed 113.9% as activity improved during the day on sizeable trades. Foreign investors accounted for 44.8% of the day’s activity, broadly unchanged from 44.6% in the previous session. Bamburi Cement climbed 2.5% on a block trade which involved a large local investor buyer. Total Kenya was heading lower, but recovered by end of the session to end 1.1% higher. KenolKobil declined 1% to KES 10.30 as supply outweighed demand ahead of tomorrow’s AGM for the two listed oil marketers. EABL shed 3.2% to KES 365, renewing a downward momentum after a stable session in the previous day. Foreign investor buying remained healthy on the brewer but bids were placed at lower prices. Safaricom rose on foreign investor buying. Centum was up 3.4% ahead of FY13 results due from the investment firm. Standard Chartered Bank eased 0.7% to KES 300 after posting a 22.2% drop in 1Q13 EPS.

Mauritius: Semdex -0.17%, USD 1.57m

Much better day in Mauritius from an activity point of view with value traded amounting to USD 1.57m. There was a cross of 180k shares in MCB (both sides foreign) as a total of 197k shares traded with the name accounting for 78% of turnover. SBM closed the day lower at 1.04 as a total of 6.01m shares changed hands in the counter. Not much went on in NMH as a total of 25k shares traded in the name.

Nigeria: Closed for the day.

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

The JSE ended the day lower with the Top 40 Index falling 1.89% to close at 36,739 while value traded amounted to USD 1.44bn. Financials were the day's biggest losers with the Index falling 2.55% followed by Industrials and Resources which fell 2.42% and 0.40% respectively. The Rand was trading at 9.80 and 12.68 to the USD and EUR respectively by the time local markets closed.

Zambia: LuSE -0.17%, USD 28k

Another quiet day in Lusaka with value traded amounting to USD 28k. The names that traded included CEC, SCZ, ZAMEFA and ZSUG. CEC was the biggest contributor towards turnover with value traded in the name amounting to USD 25k. ZSUG was the second biggest contributor towards turnover with value traded in the name amounting to USD 2k.

Zimbabwe: Industrials -0.08%, Mining +1.08%, USD 1.48m

The industrial index softened a marginal -0.08% to 211.95 pts on the back of losses in diversified concerns CFI and Innscor and retailer OK. CFI which previously has been rising on bids only retreated -6.3% to 7.5c as sellers come in while Innscor eased -0.22% to 92.3c on a lower bid. Despite today’s weakness, Innscor led in today’s trades grossing 42% ($618,100) with demand remaining firm. Retailer OK with its annual Grand Challenge under way fell -3.6% down to 27c amidst selling pressure. In value terms, turnover for the day fell by a marginal -1.1% to $1.48m. This was in contrast to improvement in foreign participation which resulted in inflows of rising 41% to $0.92m coupled with a +132% boost in foreign sales to +$0.042m.

African Currencies