Movers & Shakers: March 19, 2014

Botswana: DCI +0.01%, USD 156k

Most of today’s action took place in Sechaba (2100t). Outside of this there were scraps of activity in Barclays (380t) and Choppies (402t). Choppies released their H1 214 results this morning.

Egypt: EGX +1.10%, USD 176m

It was another positive day for the Egyptian market, mainly lead by local retail investors, leaving the EGX30 to end the day up 1.10% to close at 8,286.85 points. Volumes continued to improve compared to average turnovers, as the market traded a total turnover of EGP1.23 billion. The market managed to carry over its bullish momentum lead by local retail investors (accounting for more than 84% of total turnover), targeting mostly mid/small caps such as UEGC, AMER, and GTHE leaving each to end the day up 3.41%, 4.52%, and 2.16%, respectively. Institutional investors were very quiet today accounting for less than 18%, which was notable in blue-chips such as COMI, HRHO, and ETEL where volumes did not reach half 30-day averages. The real-estate sector rallied today, with OCDI and PHDC trading above average volumes leaving each to end the day up 7.28% and 0.75%.

Kenya: NSE 20 +0.16%, USD 7.0m

An overall strong day although some weakness late in the session. Foreign activity was much improved as was general market activity. Foreign buying returned to Equity Bank which saw the name stabilize at KES 31.25 (unch). KNCB was also unchanged at KES 46.50. Both banks saw some chunky foreign crosses. EABL ended the day unchanged at KES 255 while Safcom gained 80bps to KES 12.30.

Mauritius: Semdex +0.10%, USD 3.26m

Large crosses in MCB (97k shares) and SBM (19.58m shares) helped increase activity to a very pleasing USD 3.26m. There was also some action in the likes of NMH (105k shares), Terra (178k shares) and ENL Land (113k shares).

Nigeria: ASI -0.37%, USD 22.76m

Large crosses in Zenith ($9.03m) helped spice the market on an otherwise rather dull day as value traded amounted to $22.76m. There was also some decent activity in GTB ($2.81m), Nestle ($1.65m) and Diamond Bank ($1.39m). Banks (-1.29%) took some strain as GTB (-2.90%) and Access (-2.50%) dragged the sector lower. IntBrew (-4.00%) and Dangote Sugar (-1.46%) were a drag on consumers as the sector closed -0.26% lower.

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

South Africa: Top 40 -0.91%, USD 1.75bn

The JSE ended the day lower with the Top 40 Index falling 0.91% to close at 42,006 while value traded amounted to USD 1.75bn. Resources were the day's biggest losers with the Index falling 1.46% followed by Industrials which fell 1.10% while Financials gained 0.50%. The Rand was trading at 10.72 and 14.93 to the USD and EUR respectively by the time local markets closed.

Zimbabwe: Industrials -0.68%, Mining unch, USD 1.84m

Another day of low volumes and softness in Harare. The Industrials Index is now down 9% YTD. Outside of a special bargain in Delta at 118c the market was eerily quiet yet again. Outside of this special bargain Delta actually traded at 119.94c while there were losses in BAT (-80bps, 1210c) and Innscor (-2%, 70c). Banks also got hurt with CBZ losing 3% to 16c and Barclays falling by 2.5% to 3.9c.

African Currencies