Movers & Shakers: March 07, 2014


Botswana: DCI +0.02%, USD 36k

Nothing to write home about today in Gaborone.

Egypt: Closed for the day.

Kenya: NSE 20 +0.21%, USD 5.9m

Not much on the go in Nairobi today as value traded amounted to $5.9m. Safcom was the most active stock on the day as foreigners dominated sales in the telco with 11.84m shares chaging hands. Foreigners dominated both sides of Kenya Commercial Bank as the name managed to close 0.6% higher. Britam lost 2.2% after the insurer reported lower than expected FY13 results on higher expansion expenses. The Cabinet had met during the week to discuss 2014 budget proposals. It resolved to increase spending on key infrastructure projects, raise the security budget and reduce government salaries. The President and Deputy President took a pay cut of 20% while the Cabinet Secretaries agreed to a 10% pay cut.

Mauritius: Semdex -0.17%, USD 1.6m

The Port Louis bourse ended the week on a soft note. The Sem-7 lost 25bps with the losers being SBM (-95bps, Rs1.04) and NMH (-62bps, Rs80.50) while the only gainer was IBL which rose by 69bps to Rs110.

Nigeria: ASI +0.02%, USD 20.1m

The first part of the session was incredibly dull before some crossing later in the day increased overall turnover. The banking sector gained 30bps with performance pretty mixed across the board. The activity centered on Access (+2.6%, N7.50), GTB (-4bps, N24.99) and Zenith (unch, N21.45). The consumers lost 1% although almost all the trading took place in Guinness which was also the biggest faller in the sector (-4.6%, N171.73). Unilever was also soft and fell by 3% to N47 while Nestle lost 2.3% to N1035.50. Dangote Cement saw a decent size cross towards the close (+17bps, N237.40).

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

South Africa: Top 40 -0.07%, USD 1.41bn

The JSE ended the day lower with the Top 40 index falling 0.07% to close at 43,206 while value traded amounted to USD 1.41bn. Resources were the day's biggest losers with the Index falling 1.38% while Industrials and Financials gained 0.48% and 0.45% respectively. The Rand was trading at 10.70 and 14.85 to the USD and EUR respectively by the time local markets closed.

Zimbabwe: Industrials +0.48%, Mining +10%, USD 3.5m

The mainstream industrial index recovered 0.48% to 189.13pts on a sustainable upsurge in heavy cap Econet which gained 1.3% to 67c ahead of the telecoms’ February year end results. Demand from both foreign and local buyers remained positive to cap a week in which the stock outperformed the broad index. While Econet gained 2.3% in the week the index inversely lost 0.3%. Regardless of the fact that demand has been skewed towards a few selected heavies today’s gain could be a cheer from the market for some of the corporates reporting strong impressive financials. Turnover was up 31% to $3.5m on the back of a $2.16m block trade in Zimplow of 86,4m shares traded at 2.5c.

African Currencies

Country

Notation

Currency

YTD %

South Africa

ZAR

10.70

-2.04

Nigeria

NGN

164.85

-2.76

Kenya

KES

86.55

-0.29

Mauritius

MUR

29.95

+0.33

Botswana

BWP

8.77

-0.26

Tanzania

TZS

1631.00

-2.51

Uganda

TZSUGX

2515.00

+0.48

Rwanda

RWF

677.09

-0.16

Ghana

GHS

2.53

-6.25

BRVM

XOF

476.03

+0.88

Egypt

EGP

6.96

-0.19

Morocco

MAD

8.11

+0.82

Tunisia

TND

1.57

+4.78

contacts
  • Kenya +254 (714) 646 406
  • South Africa +27 (11) 243 9030
  • Nigeria +234 (1) 342 9185

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