Home2020February 2020 - The Trading Room

Allan Kilavuka confirmed as KQ Group Managing Director & CEO

The Board of Directors of Kenya Airways PLC has appointed Mr. Allan Kilavuka as the airline’s Group Managing Director and Chief Executive Officer effective April 1, 2020. Prior to this appointment, he was the CEO of Kenya Airways’ subsidiary, Jambojet. “It is particularly gratifying to me that the Board agreed to support the appointment of Allan to the full role of substantive CEO. During his short time as acting CEO of KQ, Allan has thrown...

Morning Note: Bear Roams The NSE, Global Markets.

Good morning, here’s a rundown of top economic news you need to know. The NSE had one of its worst sell offs this year yesterday when most stocks plunged to touch their assumed resistance levels.The market sell-off suggests that foreign investors are offloading their positive bets on stocks as the spread of the corona virus intensifies outside mainland China. This means Investors who had been expecting a quick recovery on the release of financials soon...

Portland Cement loss widens to Ksh.3.4 billion

East African Portland Cement Company (EAPC) has posted a Ksh.3.4 billion loss for the year ending June 30, 2019, returning to loss making after an year’s break in fortunes. The cement manufacturer has been facing tough times in the face of a declining construction sector registering poor sales amounting to Ksh.4.1 billion from Ksh.5.3 billion an year before. As such, the company’s revenue dropped by 46.2 per cent to Ksh.2.8 billion from Ksh.5.2 billion in...

Market Report 26 February, 2020

At the end of today’s trading session on the Nairobi Securities Exchange (NSE). A total of 9,134,700 shares in 772 deals, corresponding to a market value of KES 268,739,368.00, were traded. Compared with the previous NSE trading day (Tuesday, February 25), today’s data shows 46% decline in volume and 47% decline in turnover. The current NSE market capitalization is KES 2.31 trillion. In the aggregate, 45 NSE listed equities participated in trading, ending with eight...

Kenya Power’s net Earnings Drop to Kes 262Million

Kenya Power & Lighting Company has this morning released their Unaudited results for the 2019 financial year. KPLC is among the companies audited by the National Auditor General and has not been able to announce the audited results due to the delay in appointment of the AG. Key Highlights of their results Include: Revenue rose marginally; 1.3% y/y to KES 133.1B on the back of increased unit sales and tariff reviews.  Total power purchase costs...

Morning Brief: Of Markets,Politics & the Virus.

Good morning, here’s what you need to know before you start your day. 1. Kenya’s Nairobi City County will now be run under the National Government. In a historic move, Nairobi Governor Mike Sonko signed an MoU with the National Government handing over functions of the county government to the devolution ministry. 2. The NSE opens lower today. All indices dropped on Tuesday indicating possibilities of more offline bids on the market. Global Markets roundup....

Global Markets Tank as virus Fear Spreads Beyond China

Global financial markets saw some of the sharpest falls in years on Monday after a rise in coronavirus cases renewed fears about a global economic slowdown. The risk-off mood hardened as the epidemic spread to more than 30 countries, with South Korea reporting a jump in infections and Italy locking down an area of 50,000 people near Milan. Finance chiefs and central bankers from the largest economies warned this weekend that they saw the virus...

Market Report 24 February, 2020

At the end of the first weekday of trading on the Nairobi Securities Exchange (NSE) this week. A total of 9,296,200 shares in 736 deals, corresponding to a market value of KES 290,672,542.00, were traded. Compared with the previous NSE trading day (Friday, February 21), today’s data shows 40% decline in volume and 35% decline in turnover. The current NSE market capitalization is KES 2.41 trillion. In the aggregate, 43 NSE listed equities participated in...

The Trading Room: Weekly Market Review – Week 8, 2020

Global markets took a decline this week, indicating a hit of the Corona-Virus, which has raised more concerns with an emergence of new cases in South Korea. Apple had earlier in the week issued a sales warning, citing the impact of the virus outbreak as most of its shops in China stay closed. U.S. stocks sold off and the Nasdaq had its worst daily percentage decline in about three weeks on Friday as a spike...

Market Report 21 February, 2020

At the end of the last weekday of trading on the Nairobi Securities Exchange (NSE). A total of 15,419,800 shares in 729 deals, corresponding to a market value of KES 444,567,394.00, were traded. Compared with the previous NSE trading day (Thursday, February 20), today’s data shows 44% decline in volume, 49% decline in turnover, and 16% decline in deals. The current NSE market capitalization is KES 2.4 trillion. In the aggregate, 47 NSE listed equities...

National Oil Gets New Chief Executive Officer

Leparan Gideon Morintat has been appointed as the chief executive officer of State-owned National Oil Corporation of Kenya (Nock), taking over from Mr George Kubai, who has been Acting Chief Executive Officer since October 2019 when CEO Mary Jane Mwangi left the firm. Mr Morintat joins Nock from solar provider D-Light where he has been the country manager for Ethiopia and also oversees the operations of the Horn of Africa. He is an oil, gas,...

Sanlam Kenya PBT profit up 550 Million for FY19 as Firm rises from Losses

Within the period under review, the Sanlam Kenya group posted improved results posting a pre-tax profit of Kes 550 million compared to a prior year's loss before tax of Kes 2.1 million Total revenues from gross written premium and investment income improved by a remarkable 50% compared to the previous year, while total outflows from policyholder benefits and expenses increased by 4%.

Market Report 20 February, 2020

At the end of today’s trading session on the Nairobi Securities Exchange (NSE). A total of 27,534,800 shares in 872 deals, corresponding to a market value of KES 873,023,079.00, were traded. Compared with the previous NSE trading day (Wednesday, February 19), today’s data shows 50% improvement in volume, 77% improvement in turnover, but 7% decline in deals. The current NSE market capitalization is KES 2.41 trillion. In the aggregate, 45 NSE listed equities participated in...

Carbacid Half-Year Profit Up by 70%

Listed food-grade carbon dioxide producer carbacid Investments has reported a 70 percent increase in the half year net profit to reach Kes 178.7 million from Kes 105.3 million posted in a similar period last year. In results released this morning, the company posted a revenue increase of 16 percent to Kes 352.9 million. Similarly, interest income went up by 16 percent to reach Kes 92.7 million. Total assets grew by 11 percent to Kes 3.66...

Market Report 19 February, 2020

At the end of today’s trading session on the Nairobi Securities Exchange (NSE). A total of 18,346,600 shares in 940 deals, corresponding to a market value of KES 492,703,671.00, were traded. Compared with the previous NSE trading day (Tuesday, February 18), today’s data shows 63% improvement in volume, 38% improvement in turnover, and 15% improvement in deals. The current NSE market capitalization is KES 2.42 trillion. In the aggregate, 41 NSE listed equities participated in...

Market Report 18 February, 2020

At the end of today’s trading session on the Nairobi Securities Exchange (NSE). A total of 11,276,200 shares in 817 deals, corresponding to a market value of KES 357,458,862.00, were traded. Compared with the previous NSE trading day (Monday, February 17), today’s data shows 22% decline in volume, 13% improvement in turnover, and 22% improvement in deals. The current NSE market capitalization is KES 2.44 trillion. In the aggregate, 45 NSE listed equities participated in...

Market Report 17 February, 2020

At the end of the first weekday of trading on the Nairobi Securities Exchange (NSE). A total of 14,451,900 shares in 671 deals, corresponding to a market value of KES 315,494,218.00, were traded. Compared with the previous NSE trading day (Friday, February 14), today’s data shows 60.0% decline in volume, 67.0% decline in turnover, and 5.0% decline in deals. The current NSE market capitalization is KES 2.46 trillion. In the aggregate, 47 NSE listed equities...

Market Report 14 February, 2020

At the end of the last weekday of trading on the Nairobi Securities Exchange (NSE) this week. A total of 36,299,100 shares in 708 deals, corresponding to a market value of KES 961,288,442.00, were traded. Compared with the previous NSE trading day (Thursday, February 13), today’s data shows 27% improvement in volume, 4% decline in turnover, and 19% decline in deals. The current NSE market capitalization is KES 2.47 trillion. In the aggregate, 46 NSE...

AIB Capital & Apex Africa Capital To Merge

ApexAfrica Capital Limited and AIB Capital Limited have this evening announce the signing of a binding agreement that will see the shareholders of the two Companies enter into an agreement to merge their respective Stock brokerage, Bond Trading, Research, Derivatives and Corporate Finance businesses in Kenya to operate under a joint venture. “We are delighted at the prospect of joining forces with AIB as a 2nd step of our development and enhancement of our local...

Market Report 13 February, 2020

At the end of today’s trading session on the Nairobi Securities Exchange (NSE). A total of 28,672,800 shares in 874 deals, corresponding to a market value of KES 1,000,981,666.00, were traded. Compared with the previous NSE trading day (Wednesday, February 12), today’s data shows 29% decline in volume, 11% decline in turnover, and 10% decline in deals. The current NSE market capitalization is KES 2.49 trillion. In the aggregate, 45 NSE listed equities participated in...

Market Report 12 February, 2020

At the end of today’s trading session on the Nairobi Securities Exchange (NSE). A total of 40,499,400 shares in 975 deals, corresponding to a market value of KES 1,126,562,054.00, were traded. Compared with the previous NSE trading day (Monday, February 10), today’s data shows 687% improvement in volume, 482% improvement in turnover, and 35% improvement in deals. The current NSE market capitalization is KES 2.54 trillion. In the aggregate, 45 NSE listed equities participated in...

Market Report 10 February, 2020

At the end of the first weekday of trading on the Nairobi Securities Exchange (NSE) this week. [10-Feb-2020] A total of 5,149,000 shares in 723 deals, corresponding to a market value of KES 193,533,820.00, were traded. Compared with the previous NSE trading day (Friday, February 7), today’s data shows 85% decline in volume, 85% decline in turnover, and 27% decline in deals. The current NSE market capitalization is KES 2.55 trillion. In the aggregate, 47...

Market Report 07 February, 2020

At the end of the last weekday of trading on the Nairobi Securities Exchange (NSE) this week. A total of 34,035,200 shares in 995 deals, corresponding to a market value of KES 1,317,977,563.00, were traded. Compared with the previous NSE trading day (Thursday, February 6), today’s data shows 63% improvement in volume, 61% improvement in turnover, and 7% improvement in deals. The current NSE market capitalization is KES 2.56 trillion. In the aggregate, 46 NSE...

Barclays to Trade as ABSA on the NSE from Monday.

In its goal to achieve full transition by June 2020, Barclays Bank of Kenya will officially start trading on the Nairobi Securities Exchange as ABSA Group Plc. In a statement sent out to Brokers yesterday, Central Depository & Settlement Corporation instructed brokers to fast-track the settlement of Thursday’s trades, often known as trade acceleration. Consequently, Barclays Bank has been halted from trading today to allow settlement of previous and will resume trading under the ABSA...

Technical Factors Affecting Stock Price-Movement

Success in capital markets depends largely on the movement in the prices of the stocks an investor takes position in. These price movements are governed by a number of factors that could be fundamental or intrinsic to the stock itself, based on its environment, as well as a number of technical factors. Today, we review the technical factors that govern price changes or cause price volatility. These factors represent external conditions that alter the supply...

Market Report 06 February, 2020

At the end of today’s trading session on the Nairobi Securities Exchange (NSE). [06-Jan-2020] A total of 20,857,900 shares in 928 deals, corresponding to a market value of KES 816,302,800.00, were traded. Compared with the previous NSE trading day (Wednesday, February 5), today’s data shows 54% improvement in volume, 58% improvement in turnover, and 24% improvement in deals. The current NSE market capitalization is KES 2.57 trillion. In the aggregate, 46 NSE listed equities participated...

Qatar Airways in talks to buy 49% Stake in RwandAir

Qatar Airways on Wednesday announced that it is in talks to buy a 49% controlling stake in emerging East Africa’s airliner, RwandAir. The Group also announced it’s interest in doubling its holding in LATAM Airlines Group to 20%. Qatar Airways agreed in December 2019 to take a 60% stake in a new airport in Rwanda, dubbed to be Africa’s largest Airport. The move, if goes through would widen its reach in one of the world’s...

Market Report 05 February, 2020

At the end of today’s trading session on the Nairobi Securities Exchange (NSE). A total of 13,559,100 shares in 746 deals, corresponding to a market value of KES 515,763,305.00, were traded. Compared with the previous NSE trading day (Tuesday, February 4), today’s data shows 43% decline in volume, 39% decline in turnover, and 11% decline in deals. The current NSE market capitalization is KES 2.52 trillion. In the aggregate, 44 NSE listed equities participated in...

Market Report 04 February, 2020

At the end of today’s trading session on the Nairobi Securities Exchange (NSE). A total of 23,729,700 shares in 835 deals, corresponding to a market value of KES 841,109,514.00, were traded. Compared with the previous NSE trading day (Monday, February 3), today’s data shows 351% improvement in volume, 957% improvement in turnover, and 24% improvement in deals. The current NSE market capitalization is KES 2.48 trillion. In the aggregate, 42 NSE listed equities participated in...

Market Report 03 February, 2020

At the end of the first weekday of trading on the Nairobi Securities Exchange (NSE) this week. [03-Feb-2020] A total of 5,265,500 shares in 674 deals, corresponding to a market value of KES 79,558,314.00, were traded. Compared with the previous NSE trading day (Friday, January 31), today’s data shows 47% decline in volume, 82% decline in turnover, and 1% decline in deals. The current NSE market capitalization is KES 2.48 trillion. In the aggregate, 47...

The Trading Room: Weekly Market Review – Week 5,2020.

Shares in global markets probably had their biggest weekly losses since August 2019. Commodities like oil and metals markets were not left out, showing an even more brutal damage to profits earned as investors increasingly got worried over the fallout from China’s coronavirus epidemic. The virus, which is centered on China, has spread to more than 20 other countries and regions. As of Friday China had reported 213 deaths and 9,800 cases, with number of...

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