Movers & Shakers: May 21, 2012

Botswana: DCI +0.01%, Vols USD 88k

The DCI ended the day flat, recording vols of USD 88k. BIHL accounted for 49% of the day's turnover with 32,137 shares trading at 995t. Barclays saw 31,730 shares trade at 711t, contributing to 35% of the turnover. Choppies picked up 1t to end the day at 161t. WIL lost 5t at 325t. Letshego was unchanged at 150t.

Egypt: EGX +1.80%, Vols USD 48m

The market managed to rebound today to end the day 1.80% higher at 4878.37 points. Volumes were weaker than recent market volumes , with only EGP292m cross the floor today. Local retail and local institutions along with GCC investors were net buyers this came on the back of optimism towards the global economic woes, yet foreign institutions remain net sellers. Names such a OTMT, HRHO and ETEL lead the market in terms of volumes, each ending the day up 3.05%, 1.17%, 0.08% respectively.

Investor mix:
•  Foreigners were net Sellers by 67.87 mn EGP and were 23.20% of the market.
•  Egyptians were net Buyers by 25.61 mn EGP and were 57.55% of the market.
•  Arabs were net Buyers by 42.61 mn EGP and were 19.25% of the market.
•  Institutions were net Sellers by 3.39 mn EGP and were 45.54% of the market.
•  Retail were net Buyers by 3.39 mn EGP and were 54.45% of the market.

Kenya: NSE 20 +0.02%, Vols USD 3.6m

It was a slow session in Nairobi, a lot of the fund managers were probably distracted by the bond issue which takes place tomorrow. The activity was evenly split between foreign and local players. Uchumi, Mumias and Sasini made good gains. Foreign activity was focused on EABL, 94% of activity and a +0.5% gain. KCB fell -1.1% on profit taking, the stock goes ex-div tomorrow. Uchimi was supported by local players. Scom activity remains low with foreign supply still prevalent.

Mauritius: Semdex +0.26%, Vols USD 2.5m

A positive start to the week in Mauritius on decent activity of almost $2.5m. From the Sem-7 SBM and ENL Land were the main drivers closing +0.6% and +0.26% higher. MCB however was not in favour with participants, closing -0.59% lower. The vast majority of the activity was accounted for by SBM, over +80%.

Nigeria: ASI -0.32%, Vols USD 14.27m

An incredibly dull day in Lagos only livened up by some crossing that went through in Total shortly before the close. Once again some technical issues delayed the opening of the exchange and after the open it felt as if investors were disinterested in Africa, somewhat distracted by the global concerns and uncertainties. Total was the most active name on the day with more than 5.8mill shares trading although the name closed limit down at N132.01. The rest of the market was incredibly quiet. The Banking sector was relatively unchanged with performance mixed across these counters with FCMB (-5%, N4.30) continuing to freefall. Guinness also continues to struggle with the name closing down -5% at N223.25. Dangote Sugar had a strong day, closing up 5% at N3.99.

In other news, the MPC decision (which is expected to be unchanged) was meant to happen today but has now been postponed.

South Africa: Top 40 -0.20%, Vols USD 1.1bn

The mkt was extremely slow today with only $1.1bn trading and the mkt sliding -0.2%. The JSE underperformed the global mkts which all closed or are currently trading in the black. The resources sector underperformed -0.4%. Financial traded broadly in-line with the mkt at -0.2% while the industrial closed flat.

Zambia: LuSE -1.79%, Vols USD 11k

Nothing to report from Zambia after negligible vals of $11kmpassed through in the session. The index did manage to fall -1.79% although very little can be read into that at with the level of activity that was evident. SCBL lost -9.09%.

Zimbabwe: Industrial +0.41%, Mining +2.07%, Vols USD 598k

A quiet day in Harare today with only USD 598k worth trading today. Turnover was dominated by Econet which saw 114,680 shares trade at 420c. Innscor rallied 5.47% to 58.01c, ZPI edged up 5% to 1.05c while tourism group African sun added +2.86% to 0.72c. Hwange which was on a rebound was the main driver of gains on the mining index after putting on 4% to 26c The two shakers were Fidelity and AICO that dropped -6.25% and -3.85% to 15c and 12.5c respectively.