In 2018 year the lender had posted a loss of Kes598.2 million, even as it slowed its loans and advances to customers. Operating expenses dropped by Kes726 million or 17.1 percent to Kes3.51 billion
Home2020March 2020 - The Trading Room
The derivatives market of the Nairobi Securities Exchange [NEXT] closed the second trading day of the week with no transactions concluded on the market.
counters that are currently trading on cum-dividend are likely to maintain their trading positions at these levels.
Bamburi Cement Plc [BAMB] came out last with an end-of-day price depreciation of 9.20% closing at KES 45.40 per share.
While most of these countries have advanced healthcare systems, Africa's healthcare systems might not be able to handle a surge in Corona Virus cases
The net interest income grew by 16.3 per cent to KES. 5 Billion compared to KES. 4.3 Billion realized in the same period last year with income from loans and government securities being major contributors. Non-interest income also registered a growth of 12 per cent to hit KES. 2.8 Billion
Indonesian stocks plunged to a level that triggered trading halt, as the number of Covid-19 cases surge domestically and globally
The week ahead will be tough on the market, it is now clear that the country will face an economic downturn from the corona virus. Various businesses will be affected by the dusk to dawn curfew which is being implemented by the country.
Greatest health impact has been in advanced economies, but emerging market and developing countries, especially low-income countries, will be hard hit by a combination of health crisis, a sudden reversal of capital flows & for some, a sharp drop in commodity prices.
The day's top mover was Safaricom, moving an average 14.9 Million shares on the market. Equity Group, ABSA Bank ad KCB Group followed in terms of volume.
The Directors have recommended the payment of a first and final dividend for the year 2019 of Kes. 0.08 per ordinary share and will be paid within sixty (60) days of the date of the Annual General Meeting which will be announced at a later date.
Well, these types of rallies are not uncommon in periods of extreme volatility. During the height of the financial crisis, in October 2008, global markets posted two single-day gains of more than 10%
The derivatives market of the Nairobi Securities Exchange closed today's session with no transactions concluded on the market.
As the virus spread and Kenya's reported an additional one confirmed case of the COVID-19 yesterday and also reported the first recovery of an infected patient. Spain had its deadliest day yet
Compared with the previous trading day, today's data shows 47% decline in volume, 39% decline in turnover, and 27% decline in deals.
The lender’s total operating income grew by 59 per cent to Ksh.33.7 billion from Ksh.21.2 billion posted in the previous year. The bank also realised a Ksh.4.1 billion windfall from a bargain purchase resulting from the merger between CBA and NIC completed in October last year.
At the moment, it's a game of bazookas, tanks and all arsenal Central Bankers can pull against a new enemy, the Corona Virus, which has caused economies to stall everywhere it's stops.
One Equity contract worth Kes.32, 000 expiring in 18th June 2020 concluded at a price of Kes.32.75. This is against an end of day price of Kes.32.55 posted in the spot market.
The bear run may last but a bull will emerge at the long run. Rather buy the dip than buy the climb.
The Bank costs were well managed at Kshs17.3 billion reflecting a 1% increase year on year largely because of spend discipline and cost saves initiatives. The cost saves initiatives included automation of the processing centres, investment in alternative channels and branch rationalization programs. The savings derived were used to fund sustainable investments especially in automation and digitization.
The NSE 20 share index touched a new 17 year low, closing below the 2000 basis points!
Yesterday, the country's health minister indicated a rise and also confirmed possible rise in infections in the country as they move to trace and quarantine those who had been contacted by the confirmed patients who were already in isolation.
Local investors retreated to playing defensive position in the market, mainly focusing on the blue-chip counters, a move which has defended the market indices from facing a further decline from last week's rout.
In making this decision, the CBK Board also noted the ongoing critical efforts to stem the spread of the Coronavirus (COVID-19), and the strain this has put on the Government’s resources.
The secondary Bond market at the Nairobi Securities Exchange soared in turnover with a turnover of 5.52 Billion in 98 deals, this is a 46.4% growth as compared to yesterday’s turnover of Kes 3.77 Billion which was achieved in 91 deals.
The measures are aimed at supporting interbank lending and freeing up cash in the money markets in response to “liquidity strains,” the Pretoria-based South African Reserve Bank said in a statement.
EABL acquired 51 per cent of the issued share capital of SBL in October 2010. At present, SBL has three operating plants spread out across the Tanzania
The results released yesterday could bring into play a defensive game for bank stocks, just as local investors did on Safaricom earlier in the week. Equity Bank will definitely be a counter to look onto as the firms announced a fairly average results and increased their dividends.
The Group continued to maintain an agile balance sheet with a liquidity of 52.1%, a loan deposit ratio of 75.9% and a core capital to risk weighted asset ratio of 19.8%. The balance sheet reflects solid diversified funding with customer deposits constituting 72% of the total funding, shareholders and long-term borrowing contributing 17% and 8% respectively. Net loans constituted 54% of the total assets while government securities and cash and cash equivalents contributed 26% and 13% of the total asset allocation respectively.
The Bank's Chief Executive said it was too early to assess the impact of the coronavirus epidemic on its business. StanChart Kenya said that if the crisis extends beyond 90 days, its negative impact on its business could become significant.
The secondary Bond market at the Nairobi Securities Exchange recorded a rise in trading activities with a turnover of 3.77 Billion in 91 deals as compared to yesterday’s trades valued at Kes 1.16 Billion which was achieved in 106 deals.
In a statement accompanying financial results, Co-op Bank Group MD Dr. Gideon Muriuki said the bank has continued to leverage on successful penetration banking services in the country while reviewing opportunities to grow alternative revenue streams.
The whole world is on the watch. So many things seem to be happening at the same time and many people are in panic. The fear of COVID19 has forced many businesses to a temporarily closure – especially those involved in international trade. Businesses that depend on importation have been stunted and the uncertainty of when things will be stable again has caused a level of frenzy. To worsen things, the foreign exchange market has...
Data from the NSE shows the dividends as a percentage of share price (dividend yields) for 18 listed firms range between 7.3 and 19.7 percent, having gone up as the share prices fell in the past two weeks. The government is paying 7.3 percent for the risk free three-month Treasury bill, 8.2 percent for the six-month and 9.3 percent for the one-year paper. Investors in the stock market earn a return on capital when share prices go up, better known as capital gains, or through dividend payouts.
At the end of today’s trading session on the Nairobi Securities Exchange (NSE). A total of 35,255,300 shares in 1,061 deals, corresponding to a market value of KES 1,236,498,914.00, were traded. Compared with the previous NSE trading day (Tuesday, March 17), today’s data shows 129% improvement in volume, 215% improvement in turnover, and 10% improvement in deals. The current NSE market capitalization is KES 2.03 trillion. In the aggregate, 42 NSE listed equities participated in...
Corporate NewsCapital Markets Operations to Continue Normally Despite COVID-19 in Kenya – CMA
226 min
In line with the mandate of ensuring an orderly, fair and efficient market as well as protection of investors, the capital markets industry is working jointly to ensure that market activities continue normally as Kenya copes with the devastating effects COVID-19 is having on the global economy and after the confirmation of a few known cases in the country reported to date. The Capital Markets Authority (CMA), Nairobi Securities Exchange (NSE), Central Depository and Settlement...
Trading on Philippines Stock Exchange will resume on march 19th after the country temporarily halted trading on all Capital markets instruments yesterday. The finance minister in a statement, told investors not to worry on the lockdown of Capital Market instruments. There was talk towards the end of last year about recession, but it didn’t happen. Not so now. Goldman Sachs and Morgan Stanley economists joined the rush on Wall Street to declare that the coronavirus...
At the end of today’s trading session on the Nairobi Securities Exchange (NSE). A total of 15,370,400 shares in 965 deals, corresponding to a market value of KES 393,005,199.00, were traded. Compared with the previous NSE trading day (Monday, March 16), today’s data shows 71% decline in volume, 73% decline in turnover, and 17% decline in deals. The current NSE market capitalization is KES 2.03 trillion. In the aggregate, 42 NSE listed equities participated in...
A month into one of the fastest global market meltdowns in recent history, investors aren’t willing to pay more than liquidation value for stocks in Hong Kong. The 50-member Hang Seng Index now trades at 99% of book value, a level only seen twice before in data compiled by Bloomberg going back to 1993. That means traders are pricing firms’ assets at less than their stated worth, something that last happened in 2016. The gauge...
The first quarter of the year and the market is taking one of the greatest hit of all time. Bringing the reminiscence of the 1987 and the 2008 crash. Global markets started their week with a continued sell off, one of their worst in recent times. The sell off continued even with Central Banks across the world taking the last shots of amo to save the global economy which is now evident is in a...
Equity Group Holdings Plc has announced that Polycarp Igathe has re-joined the Equity Executive team as the Group Chief Commercial Officer reporting to the Group CEO. Before returning to Vivo in 2019, Polycarp was the Managing Director of Equity Bank (Kenya)Limited and also doubled up as the Chief Commercial Officer. Polycarp resigned from Vivo last week in an exit termed as unexpected by market participants. Under the new Equity brand, Mr. Igathe will execute a...
Kenya’s largest telecoms operator Safaricom said on Monday it will waive transaction costs on mobile money transfers under Kes 1,000 shillings after President Uhuru Kenyatta encouraged the use of cashless payments to curb the spread of the coronavirus since it would cut down on the handling of cash. The M-Pesa mobile money platform is widely used, with more than 20 million subscribers in a population of 47 million. The Central Bank of Kenya has also approved...
At the end of the first weekday of trading on the Nairobi Securities Exchange (NSE) this week. A total of 53,897,700 shares in 1,167 deals, corresponding to a market value of KES 1,472,483,916.00, were traded. Compared with the previous NSE trading day (Friday, March 13), today’s data shows 27% improvement in volume, 25% improvement in turnover, but 36% decline in deals. The current NSE market capitalization is KES 2.0 trillion. In the aggregate, 41 NSE...
South Africa’s benchmark stock index plummeted to the lowest in more than six years after President Cyril Ramaphosa’s declaration of a national state of disaster over the coronavirus outbreak stoked investor concern about its impact on an already fragile economy. The president announced tough measures Sunday to stem the spread of the virus locally, including halting flights and shutting schools, and said the government was finalizing a crisis package. An emergency cut in the U.S....
European Commercial Bank could be warming up to counter the virus effect which is on the verge of pushing the global economy into a recession.
The corona virus is putting remote work to a gigantic test, and at a totally unprecedented scale. As the president announced this afternoon of an increase in the number of cases of the deadly COVID-19 pandemic in the country, he also advised companies to allow their employees to work remotely outside the office; except for essential service employees. To that effect, the Nairobi Securities Exchange has advised trading participants that it is open and will...
In the coming week, we expect the bear run to open Monday but only for a short while. The market volatility will definitely be heghtened further if the country reports any new corona virus cases
Microsoft announced on Friday that it’s co-founder Bill Gates is leaving the board, effective Friday. Gates is also stepping down from his position on the board of Warren Buffet’s Berkshire Hathaway. “I have made the decision to step down from both of the public boards on which I serve – Microsoft and Berkshire Hathaway – to dedicate more time to philanthropic priorities including global health and development, education, and my increasing engagement in tackling climate...
The slump in oil may make recovery of global markets even harder as the Corona-Virus pandemic continues to hit markets globally.
At the end of the last weekday of trading on the Nairobi Securities Exchange (NSE) this week. A total of 42,501,100 shares in 1,834 deals, corresponding to a market value of KES 1,178,386,193.00, were traded. The closed the day with a market capitalization is KES 2.04 trillion. Compared with the previous NSE trading day, today’s data shows 33% decline in volume, 36% decline in turnover, but 19% improvement in deals. In the aggregate, 49 NSE listed...
Global markets have officially entered into a bear run. In what couldn’t have been worse, the New York Stock Exchange had trading halted for the second day running after the S&P 500 index fell more than 7%, triggering a market halt. During the day’s wild trading session, the Dow Jones Industrial Average (DJIA) dropped by just under 10% in what was the largest single-day percentage decline since the stock market crash in 1987. The market...
South Africa’s benchmark stock index plunged the most since the market crash of October 1997 as markets globally continued to react to US measures aimed at curbing the spread of the coronavirus which has accelerated the sell-off sweeping through global equities. The FTSE/JSE Africa All Share Index sank as much as 9.3% as of 3:34 p.m. in Johannesburg. Naspers, South Africa’s biggest stock, fell 7.1% to weigh heaviest on the overall market. Mining stocks plummeted...
At the end of today’s trading session on the Nairobi Securities Exchange (NSE). A total of 63,060,600 shares in 1,536 deals, corresponding to a market value of KES 1,848,500,206.00, were traded. Compared to the previous NSE trading day (Wednesday, March 11), today’s data shows 281% improvement in volume, 315% improvement in turnover, and 87% improvement in deals. The current NSE market capitalization is KES 2.15 trillion. In the aggregate, 45 NSE listed equities participated in...
KCB higher earnings have continued to be supported by non-interest funded income (NFI) streams which grew by 22.8 percent to Ksh.28.2 billion on the back of higher fees and commissions on customer loans and advances. Customer deposits meanwhile grew to Ksh.686.6 billion from Ksh.537.5 billion
The world health organisation yesterday declared the novel Coronavirus [COVID-19] a global Pandemic.
At the end of today’s trading session on the Nairobi Securities Exchange (NSE). A total of 16,562,600 shares in 821 deals, corresponding to a market value of KES 445,212,612.00, were traded. Compared with the previous NSE trading day (Tuesday, March 10), today’s data shows 44% decline in volume, 42% decline in turnover, and 7% decline in deals. The current NSE market capitalization is KES 2.26 trillion. In the aggregate, 45 NSE listed equities participated in...
We are working on automating our products to ensure anyone in any part of the country can join the Gencap individual pension plan at ease from the mobile phones and at the same time enjoy above average income through a professionally managed fund
In the newsletter, Co-op bank issued a cautionary statement, informing investors of a major corporate action which might significantly affect the shareholding of the company.
Tuesday saw the Nairobi bourse gain Sh10 billion in market capitalisation, recovering some of the heavy losses recorded on Monday.
At the end of today’s trading session on the Nairobi Securities Exchange (NSE). A total of 29,805,100 shares in 887 deals, corresponding to a market value of KES 773,816,976.00, were traded. Compared with the previous NSE trading day (Monday, March 9), today’s data shows 21% decline in volume, 36% decline in turnover, and 25% decline in deals. The current NSE market capitalization is KES 2.26 trillion. In the aggregate, 43 NSE listed equities participated in...
Financial markets globally yesterday had their worst day as markets opened lower and ‘messier’. This is after Oil prices cratered more than 20% on Monday following Saudi Arabia’s surprising decision over the weekend to slash prices. At one point Sunday evening, crude oil futures were down about 40%. Yesterday, the NSE share indices had one of the worst hit since the 2008 financial crisis which was coupled by a post-election violence. The benchmark NSE All...
The secondary Bond market at the NSE recorded a growth in activity in today's trading session with bonds worth Kes 4.59 Billion traded in 137 deals on the Fixed income segment as compared to Friday's 69 deals valued at Kes 3.23 Billion.
The Corona Virus scare hit the NSE hard two weeks ago when the index touched its lowest in 16 years. Just as the NSE is starting to recover, guess what? Global Oil Wars are coming hard on markets today. This is after Saudi Arabia slashed oil prices and throwing global economies into a new wave of uncertainties after OPEC talks collapsed. As the NSE opens today, we could see the only oil stock, Total Kenya...
The mother of all busts is unfolding in the oil market. WTI crude is already down 37% since the January high and it’s about to get much worse. Monday’s open will be ugly, with talk of a 28% drop at the open. There are daily limits so there’s a good chance it just won’t open but we will get an idea in ETFs, oil stocks and foreign markets. Saudi Arabia announced hi drastic crude price cuts...
We’re likely to see the lowest oil prices of the last 20 years in the next quarter,” Roger Diwan, an oil analyst at consultant IHS Markit and a veteran OPEC watcher, told Bloomberg, implying that the price could fall below $20 a barrel.
Markets globally had a week full of uncertainties as the coronavirus outbreak continued it’s sweep across the globe. Despite Friday’s selloff, stocks are right around where they closed last Friday, and they could still end the week positive. That’s how crazy the past few days have been. Oil prices slid more than 3% on Friday after Reuters reported that Russia will not agree to steeper oil output cuts by OPEC and its allies to support...
The announcement followed a meeting between the president, prime minister and senior financial officials earlier in the day
The Derivatives Market had a silent day with no trades recorded in today’s session. A decline from yesterday’s trades of 9 contracts valued at Kes 441,500.
Data from commercial banks reveal the shilling is under pressure since Tuesday when Central Bank of Kenya announced they will buy back a total of $400 million (Kes41.2 billion) from commercial banks in the next four months— $100 million (Kes103 million) per month— in order to bolster its Forex reserves that at the end of last week stood at $8.409 billion (Kes866 billion). Commercial banks quoted an average of 103.00 in morning interbank trading, before...
At the end of today’s trading session on the Nairobi Securities Exchange (NSE). A total of 12,842,900 shares in 906 deals, corresponding to a market value of KES 420,724,365.00, were traded. Compared with the previous NSE trading day (Wednesday, March 4), today’s data shows 52% decline in volume, 45% decline in turnover, but 3% improvement in deals. The current NSE market capitalization is KES 2.38 trillion. In the aggregate, 48 NSE listed equities participated in...
A report by Standard Investment Bank (SIB) has revealed that the small cap stocks have been performing well on the exchange, despite the gains being made on the back of very thin traded volumes of less than Sh300,000 on each counter, small cap counters trampled the know blue-chip companies. Express Kenya, Olympia Capital & Portland Cement were seen as the top counters in terms of capital gains on the NSE. The G7 central banks may...
Global MarketsBank of Canada Follows Feds, cuts rates as coronavirus delivers ‘negative shock’
304 min
Before the outbreak, the global economy was showing signs of stabilizing, as the Bank had projected in its January Monetary Policy Report (MPR). However, COVID-19 represents a significant health threat to people in a growing number of countries. In consequence, business activity in some regions has fallen sharply and supply chains have been disrupted. This has pulled down commodity prices and the Canadian dollar has depreciated. Global markets are reacting to the spread of the virus by repricing risk across a broad set of assets, making financial conditions less accommodative. It is likely that as the virus spreads, business and consumer confidence will deteriorate, further depressing activity.
At the end of today’s trading session on the Nairobi Securities Exchange (NSE). A total of 26,580,800 shares in 882 deals, corresponding to a market value of KES 762,309,536.00, were traded. Compared with the previous NSE trading day (Tuesday, March 3), today’s data shows 21% decline in volume, 33% decline in turnover, and 6% decline in deals. The current NSE market capitalization is KES 2.35 trillion. In the aggregate, 45 NSE listed equities participated in...
The NSE opens this morning with a new wave on uncertainties as global markets. U.S. stocks tumbled and Treasuries surged as investors worried the Federal Reserve’s emergency cut won’t be enough to combat the economic impact of the Coronavirus. Here’s a brief of how markets reacted overnight to the news. Car & General Plc had their profits decline by 19% in the year ended September 2019.clearance cost saw the firm’s net profit fall to Sh182...
This is the first unscheduled, emergency rate cut since 2008, and it also marks the biggest one-time cut since then. The new benchmark interest rate is 1% to 1.25%.
At the end of today’s trading session on the Nairobi Securities Exchange (NSE). A total of 33,513,300 shares in 936 deals, corresponding to a market value of KES 1,137,312,109.00, were traded. Compared with the previous NSE trading day (Monday, March 2), today’s data shows 16% improvement in volume, 30% improvement in turnover, and 4% improvement in deals. The current NSE market capitalization is KES 2.32 trillion. In the aggregate, 41 NSE listed equities participated in...
For instance, in 2019, Kenya's petroleum product imports amounted to USD 3,310 million and the average price of our benchmark oil product was USD 66.5 per barrel. The benchmark price has now fallen to USD 51 per barrel, which portends significant savings.
1. Global Markets soared yesterday for the first time in two weeks as China reported lower cases of the Corona Virus infection.The S&P 500 surged 4.6% Monday, rebounding from the worst week for stocks since the financial crisis of 2008. 2. The Nairobi Securities Exchange major indices had a major boost as foreign activities on the market rose, foreigners are taking positions for Dividend considerations strategy & capital gains considering the favourable price range of...
At the end of the first weekday of trading on the Nairobi Securities Exchange (NSE). A total of 28,787,000 shares in 897 deals, corresponding to a market value of KES 872,110,318.00, were traded. Compared with the previous NSE trading day (Friday, February 28), today’s data shows 7% improvement in volume, 11% decline in turnover, and 22% decline in deals. The current NSE market capitalization is KES 2.28 trillion. In the aggregate, 44 NSE listed equities...
It’s a new month today & here’s what to know as markets open. 1. East African Breweries Plc closed their books on Friday, as markets open, expect the usual books closure effect of the stock. As an investor, for a company with a high foreign exposure, take note the counter may be hit further today. 2. Kenya Power & Lighting Company Plc released their Half Hear results. The company recorded a 71.8 percent to Sh693...
Fears of a sustained global economic impact as the coronavirus rapidly spreads beyond China have sent investors scrambling to find safety with stock markets experiencing their largest weekly drop in a decade on increasing concerns that the coronavirus outbreak will turn into a global pandemic. While the rate of new cases slowed in China, the headlines that the virus is spreading at an increased rate outside China. This caused almost every single stock index in...
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