Movers & Shakers: May 07, 2014

Due to the holidays we are sending out an abridged Movers and Shakers:

Kenya: NSE 20 +0.07%, USD 9.3m

Foreign activity returned to Nairobi as the foreign % reached almost 55% of total market turnover although turnover was reduced because yesterday’s numbers were distorted by the bookovers. Safcom was the most active stock as we saw the telco gain 80bps to KES 12.90. KNCB and Equity Bank also saw nice trading with KNCB closing unchanged at KES 49.50 while Equity Bank gained a further 1.3% to KES 39.25.

Nigeria: ASI +0.27%, USD 20.23m

The Lagos bourse inched higher today with crosses yet again the only action on a generally quiet day. Banks rose by 58bps with the main outperformer being Zenith Bank (+1.78%, N22.90). Consumers also rose by 53bps with strength in Guinness (+2.26%, N180) and NB (+86bps, N150). There were some chunky trades in the likes of UACN (unch, N57.00), Ashaka Cement (unch, N19.00) and Dangote Cement (-57bps, N224.64). Seplat closed up 5% at N696.12 on decent volume.

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