Home2019September 2019 - The Trading Room

Market Report 30-Sep-19

At the end of the first weekday of trading on the Nairobi Securities Exchange this week.[30-Sep-19] A total of 6,296,600 shares in 764 deals, corresponding to a market value of KES 183,339,641.00, were traded. 43 equities participated in trading, ending with 22 ✅gainers and 12 ?losers. Liberty Holdings Plc [CFCI] led the gainers with ✅9.95% share price appreciation, followed by: ✅Umeme Limited [UMME](6.63%)✅East African Portland Cement Company [PORT](5.71%)✅Uchumi Supermarkets Plc [UCHM] (3.70%) On the losing...

The old Kes.1,000 shilling note becomes useless tomorrow.

Today is the last day to exchange your Kes.1,000 shilling notes as they become defective tomorrow. In a circular sent to banks this morning, Central Bank of Kenya (CBK) has reminded retail banks not to accept the old Kes.1,000 notes after close of business today. Central Bank of Kenya had on May 1st issued a five month notice to Kenyans on the demonetization of the old Kes.1,000 notes in a bid to mop out the...

The Trading Room Weekly Review.

In the week ended 27th September, 2019. The Nairobi Securities Exchange had a drop on week on week (w-o-w) turnover to Kes 2.6Bn against a turnover of Kes 2.8Bn transacted the previous week. On average, the daily turnover stood at 450Mn as compared to 515Mn on the previous week. Total Market Volume for the week stood at 85Mn shares against a volume of 94Mn shares transacted last week. The average daily turnover stood at 11Mn...

Market Report 27-Sep-19

At the end of the last weekday of trading on the Nairobi Securities Exchange this week. [27-Sep-19] A total of 19,457,900 shares in 925 deals, corresponding to a market value of KES 571,269,339.00, were traded. 49 equities participated in trading, ending with 26 ✅gainers and 14 ?losers. Umeme Limited [UMME] led the gainers with ✅9.93% share price appreciation, followed by: ✅Car & General Plc [C&G](9.73%)✅Eveready Plc [EVRD](9.00%)✅East African Portland Cement Company [PORT](5.11%) On the losing...

Merged NIC & CBA Unit to start operations on 1st October as NCBA.

The Merged Unit of NIC Group Plc and Commercial Bank of Africa Group will be operational as from October 1,2019. The two units will be operating under a Non-Holding entity as NCBA. This has been announced by Central Bank of Kenya today notifying investors & customers of the two Banks that have been operating as separate holding entities during the merger process. Central Bank of Kenya believes that the merger will strengthen both institutions leveraging...

Unga Group Reports drop in FY19 Net Earnings, Cuts Dividend by half.

Unga Group Plc announced their results today before market opened. The Groups sales revenue declined by 10% over prior year. Profit for the year decreased by 30%. Volumes and margins were under pressure throughout the year due to increased competition. This mainly affected the human nutrition business. The commissioning of a new wheat mill in Eldoret in December 2018 increased capacity and further improved production efficiencies. The bakery business recorded a significant reduction in losses...

ARM Suspension extended for 9 Months – NSE.

Despite these emergencies, Oral Health in Montreal identified dental caries as the only most common chronic usage impairment. Transneuronal tracing efforts in patients and https://vgrsingapore.net/blog/factors-of-female-infertility/ sudden deaths prior to the patient of fetal disease have provided valuable information on rabies virus. Suspension of trading on Shares of cement company Athi River Mining Cement Plc has been extended by 9 Months effective 14th August, 2019 when the firm was expected to resume trading. ARM Cement Plc...

Market Report 26-Sep-19

At the end of today’s trading session on the Nairobi Securities Exchange.[26-Sep-19] A total of 8,469,900 shares in 752 deals, corresponding to a market value of KES 273,311,824.00, were traded. 46 equities participated in trading, ending with 14 ✅gainers and 20 ?losers. HF Group Plc [HFCK] led the gainers with ✅4.19% share price appreciation, followed by: ✅Longhorn Publishers Plc [LKL](4.17%)✅TransCentury Plc [TCL] (3.14%) ✅Jubilee Holdings Plc [JUB] (2.94%) On the losing side, Standard Group Plc...

Mumias Shares to remain suspended for 3 Months – NSE.

The Nairobi Securities Exchange has today issued an official statement indicating that Mumias Sugar Company shares have officially been suspended from trading at the Exchange for the next three months. Yesterday, trading in Mumias Shares was halted immediately the market opened as the exchange waited for an official directive from the Capital Markets Authority. The suspension in trading of the company’s shares takes effect from today, September 26, 2019 and shall remain in force for...

Market report 25-Sept-2019

At the end of today’s trading session on the Nairobi Securities Exchange. [25-Sep-19] A total of 38,214,600 shares in 827 deals, corresponding to a market value of KES 1,220,616,145.00, were traded. 44 equities participated in trading, ending with 13 ✅gainers and 24 ?losers. Uchumi Supermarkets Plc [UCHM] led the gainers with ✅7.14% share price appreciation, followed by: ✅HF Group Plc [HFCK](7.05% ) ✅Eveready Plc [EVRD] (4.21%) ✅Stanlib Fahari I-Reit [FAHR] (3.58%) On the losing side,...

Lawmakers reject blanket tax amnesty for new listings at the NSE.

Kenyan Lawmakers have rejected the amnesty taxproposal that had been issued by treasury as part of the finance bill 2019. The proposal which was drafted by NSE jointly with CMA would have seen companies which list at the NSE’s Gems segment receive an amnesty of any tax malpractices, penalties or interest accrued in the two year period prior to a company listing on the Gems segment The NSE had hoped that this would be a...

Moody’s Downgrade Ethiopia’s investment outlook to negative.

Moody’s Investors Service (“Moody’s”) has affirmed Ethiopia’s B1 long-term issuer and senior unsecured ratings changing the outlook on the Government of Ethiopia to negative from stable on September 20, 2019. Moody’s Investors Service said in a statement that the decision to change the outlook was based on negative rising fiscal and external risks related to the decline in government revenue generation and rise in State-Owned Enterprise (SOE) external debt and associated service costs over recent...

Portland Lays off Managerial Staff.

Government owned East African Portland Cement company last week issued a one month notice termination of contract for its employees in managerial positions. Managing Director Stephen Nthei told the trading room that this was in line with the restructuring plan the company has been undergoing. Last month, EAPCC renewed contracts for all its staff on a contractual basis, this saw some of the employees get a 50% pay cut against the permanent employment status. The...

ARM Woes Far from Over.

Shareholders of troubled Cement Maker Athi River Mining Company will have to wait longer to know the fate of the company as Businessman Jaswant Rai heads back to court on Monday. Directors and majority shareholders of the now suspended NSE listed firm had accused the Administrator PwC of undervaluing the firm’s assets and accepting a bid by Devki Group owned National Cement and rejecting a higher bid of businessman Jaswant Rai. This comes just a...

You have one week to exchange your old 1,000 currency notes.

The old legal tender of Kes. 1,000 becomes defective in just ten days. Central Bank of Kenya issued a new legal tender for the which the Kes 1,000 has been the first CBK Governor Patrick Njoroge had said that his team has since reached the conclusion that the Kes. 1,000 notes were being used for illicit financial flows in the country and region hence warranted the change for tender.

KQ halts Flights to Cotonou  and Libreville

National Carrier Kenya Airways yesterday announced that it will suspend its direct flights to Libreville and Cotonou as from 14 October ,2019. KQ said this was in line with their restructuring plan and that they will deploy the planes to ‘other profitable routes. KQ has faced various challenges with consistent loses over the past five years and with management hurdles, which had seen the national carrier undergo various restructuring processes. A day earlier, KQ suspended...

Kenya Power Issues Profit Warning Announcement

Kenya Power’s net earnings for the year ended June 2019 is expected to drop by over 25 per cent as compared to a similar period last year (2018). A profit warning issued by the company cites challenges including a tough economic environment and an increase in fuel costs in line with the company’s long term strategy of growing cheaper and cleaner renewable energy. The growth in renewable energy is aimed at enhancing the company’s sustainability...

The Rate Cap is here to Stay!

Kenyan parliamentary committee has rejected a request from the finance ministry to scrap the cap on commercial interest rates imposed by lawmakers in 2016, a document seen by Reuters on Wednesday showed. The Finance and National Planning Committee instead recommended that the law capping lending rates be rewritten more clearly. The finance ministry had asked in June for the cap to be dropped, arguing that it had constricted private sector credit as banks shunned lending...

Safaricom executives’ buy more Shares

Safaricom Plc bought more shares in it’s EPSAP plan, bringing the total holding of the Telco by executives to 32.2 million units with a current market value of Kes 875 million. Regulatory filings for July at the registrar show that an additional nine million shares were bought by Safaricom’s employee performance share award plan (EPSAP). The company’s chief executive and chief financial officer have traditionally taken most of the stock-based compensation.

Former CBK Governor urges greater mobile money connectivity

The study, carried out by former Central Bank of Kenya (CBK) governor Njuguna Ndung’u shows that Safaricom’s control of a large proportion of the mobile money market gives it incentive to restrict access to competitors. Prof Ndung’u, during whose reign as CBK boss Safaricom’s M-Pesa money transfer services were licensed and launched, said the cost of telecoms services was a major concern. In the research, he pointed out that the current market structure is such...

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