Movers & Shakers: March 05, 2014

Botswana: DCI -0.22%, USD 4.73m

Another decent day in Botswana as value traded amounted to an impressive USD 4.73m thanks to a cross of 3m shares in BIHL. There was also some action in Letshego as 1.88m shares traded.

Egypt: EGX +1.15%, USD 52m

The market managed to pick ups its bullish momentum in a rebound lead by buying from local retail and international institutional investors. The EGX30 ended the day up 1.15% to 8,025.28 points. The market traded decent volumes relative to average turnovers, with a total turnover of USD 152m. After Field Marshal Abdel Fatah El-Sisi heavily implied yesterday he would run for president, boosting investor confidence and speculation. Names that saw weakness over the last couple of sessions were targeted, with COMI, ESRS, and HRHO witnessing above-average volumes as they ended the day 1.41%, 2.17%, and 1.38% respectively. COMI's board recommended an EGP1.00/share cash dividend for 2013. The real estate sector managed to benefit from the rally, with TMGH ending the day up 1.75% to close at EGP8.13. The stock traded at a high of EGP8.20, a level it has not seen since January 2011.

Kenya: NSE 20 -0.08%, USD 9.2m

Activity increased in Nairobi as foreign participation increased to 56.4% with value traded amounting to $9.2m. Kenya Commercial Bank was the most active name on the day as foreigners dominated proceedings in the counter. Safcom closed unchanged at KES 11.75 after announcing that they intend to purchase some of Essar Telecommunications assets. EABL closed they day unchanged as foreigners drove purchases in the brewer.

Mauritius: Semdex +0.01%, USD 1.8m

The Sem-7 fell by 17bps despite the broader index gaining 1bp. The Sem-7 losers were SBM (-94bps, Rs1.05), NMH (-61bps, Rs82) and Terra (-77bps, Rs38.60). The gainers were Alteo (+15bps, Rs33.85) and ENL Land (+1.87%, Rs49) while MCB closed unchanged at Rs212.75.

Nigeria: ASI -0.18%, USD 28m

Another decent day in Lagos as value traded amounted to $28m thanks once again to some big crosses in Zenith Bank ($7.31m). Other contributors towards value traded came in the form of Nigerian Breweries ($3.85m), Wema Bank ($2.50m), Transcorp ($2.08m) and WAPCO ($1.47m). Consumers (+0.72%) managed to bounce thanks to a rebound in Nigerian Breweries (+2.68%) while Flour Mills (+4.23%) had a strong day. Banks (-0.34%) closed slightly lower with First Bank (-1.99%) and Guaranty Trust Bank (-1.32%) putting pressure on the sector.

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

South Africa: Top 40 -0.26%, USD 1.41bn

The JSE ended the day lower with the Top 40 Index falling 0.26% to close at 42,952 while value traded amounted to USD 1.41bn. Resources were the day's biggest losers with the Index falling 0.46% followed by Industrials which fell 0.25% while Financials gained 0.14%. The Rand was trading at 10.69 and 14.69 to the USD and EUR respectively by the time local markets closed.

Zimbabwe: Industrials -0.21%, Mining +3.25%, USD 2.25m

The equities market remained in weakness receding a further 0.21% to 189.13pts as more corporates release their financial numbers which are generally depressed on a relative basis. Among the fallers were OK which eased 2.7% to 18c adding to prior session losses. The group failed to hold on to a resistance level of 20c and is now 10% down year to date. In their forecast for the current financial year the group expect to maintain their first half performance into the full year. In the first half the group achieved sales growth of 5.4%. In today’s session trades were largely mixed with heavies swaying either side while the market breadth remained positive on 10 risers compared to 5 fallers. The Mining Index gained 3.25% to 36.80pts on the back of gains of 14% in Rio Zim to 25c. Both aggregate value and volumes traded spiked 206% and 233% respectively to $2.25m and 110.93m shares in that order. The improved activity was buoyed by a block trade of 108m shares in COTTCO valued at $1.19m representing 53% of the of daily turnover.

African Currencies