Equity turnover on the Nairobi Securities Exchange closed the week lower with 84.8 Million shares valued at Kes 2.37 Billion transacted this week against 80.9 Million shares valued at Kes.2.4 Billion transacted the previous week.
Home2020May 2020 - The Trading Room
Volume on U.S. exchanges was 13.62 billion shares, compared to the 11.3 billion average for the full session over the last 20 trading days.
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There were no contracts concluded on the derivatives market of the NSE in today's trading session.
The Acting MD said they remain totally focused on managing the company's cost base, affirming that the restructuring will not have any negative impact on the services and products they provide.
The Japanese yen traded at 107.34 per dollar after strengthening from levels above 107.8 yesterday.
The Dow Jones Industrial Average fell 147.63 points, or 0.58%, to 25,400.64, the S&P 500 lost 6.4 points, or 0.21%, to 3,029.73 and the Nasdaq Composite dropped 43.37 points, or 0.46%, to 9,368.99
The derivatives market of the NSE had one equity single stock futures contract concluded at a price of Kes 3, 550. This was against the spot market price of Kes 39.90.
The hold in the Central Bank Rate was supported by inflation stability with inflation rate at 5.6% in April. Going forward, the CBK expects the rate to remain within the set target range of 2.5% to 7.5%,
The company's balance sheet remained on an expansionary curve with net loans and advances to customers hitting Kes.203 billion while customer deposits rose by 6.6 percent in the period to Kes.238.7 billion
The Group increased its loan loss provision tenfold to Kshs. 3 billion from Kshs. 300 million the previous year leading to a decline of profit after tax by 14% from Kshs. 6.2 billion to 5.3 billion for the same period last year.
Developments on U.S.-China relations likely continued to be monitored by investors, as tensions between the two economic powerhouses mount.
The company expects to close the sale of Kantar by June 2020.
Oil’s rally started to falter Wednesday after Moscow signaled that it wanted to scale back supply cuts pledged under the OPEC+ agreement from July
Activity on the secondary bond market on the Nairobi Securities Exchange soared, with bonds worth Kes 3.46 Billion achieved in 124 deals on the market as compared to 2.48 Billion recorded in the previous trading session.
Cargo tonnage increased from 64,238 tons to 68,264 tons, representing a 6.3 percent growth. Operating costs surged 12.4 percent to Kes 129.1 billion from Kes114.8 billion.
Oil prices dipped in the afternoon of Asian trading hours, with international benchmark Brent crude futures down 0.25% to $36.08 per barrel. U.S. crude futures also slipped 0.44% to $34.20 per barrel.
The Dow Jones Industrial Average rose 529.95 points, or 2.17%, to 24,995.11, the S&P 500 gained 36.32 points, or 1.23%, to 2,991.77, and the Nasdaq Composite added 15.63 points, or 0.17%, to 9,340.22
The derivatives market of the NSE had an increase in acitvity with two contracts worth Kes 72,250 traded in today's session compared to one Safaricom contract worth Kes 29,000 traded in the previous session.
Standard Chartered Ban had issued a dividend notice of Kes 15.00 per share and was due for payments on the 28th May,2020
This is the fist time Equity Bank Shareholders will miss dividends since the company went public
South Korea’s Kospi gained 0.5 per cent and Australia’s S&P/ASX 200 added 0.7 per cent.
This is the time to utilize your emergency fund if you have one. If you don’t have it and instead have investments for your long-term goals, consider using them partially if things are getting really tight for you.
The U.S. dollar traded at 99.823 against a basket of its peers at 1:42 p.m. HK/SIN, a touch lower than its previous close at 99.863
This is the lowest levels China has pegged the Yuan since the financial crisis of 2008.
News of a possible vaccine for the corona virus by Moderna Inc pushed markets higher at the start of the week, with the S&P 500 touching the highest level since 6th March, 2020.
Secondary trading on the bond market at the Nairobi Securities Exchange had an increase in activity with bonds worth Kes 2.55 Billion trading in 82 deals, as compared to yesterday’s turnover of Kes 1.94 Billion which was achieved in 81 deal
The Bank projects that it will wither the tough operating environment characterized by the COVID-19 pandemic to grow its earnings in 2020
Equity Group will also work with its customers to expand their opportunities in the health sector by financing them to manufacture health equipment such as face masks and Personal Protective Equipment (PPEs) locally while helping to create regional supply
China is poised to impose a new national security law on Hong Kong after months of anti-government protests in the territory. The move has sparked concerns the law will give Beijing more control over Hong Kong
Amazon finished lower on Thursday after touching a record intraday high earlier in the day.
Total non-interest income grew to Kes4.9 billion from Kes4.1 billion while total operating income grew to Kes12.5 billion from Kes11.1 billion whilethe gross Non Performing Loans (NPLs/bad loans) stood at Kes31.8 billion up from Kes29.7 billion.
The derivatives market of the NSE was up with 14 contracts concluded worth Kes. 394,200. This were the first trades of the week.
The Group’s balance sheet remained strong, growing 31% from Kes725.7 billion to Kes.947.1 billion, well within range of the Kes.1 trillion target by the end of 2022. Customer deposits rose 34% to Kes.740.4 billion on the back of NBK acquisition & on-boarding of new customers.
Morning BriefAsia – Pacific Stocks Gain Momentum as Investors Watch on Reopening of Economies
184 min
Oil prices were higher in the morning of Asian trading hours, with international benchmark Brent crude futures up 0.5% to $35.93 per barrel.
Secondary trading on the bond market at the Nairobi Securities Exchange had a decline in activity with bonds worth Kes 1.91 Billion trading in 77 deals, as compared to yesterday's turnover of Kes 1.98 Billion which was achieved in 80 deals.
The Group’s fundamentals remained strong in the first quarter of the year with overall positive volume increases, ending the quarter with a total assets base at Kes509.6billion.
Oil prices were little changed in the morning of Asian trading hours, with international benchmark Brent crude futures up 0.17% to $34.71 per barrel. U.S. crude futures dipped slightly to $31.94 per barrel
The Dow Jones Industrial Average fell 390.51 points, or 1.59%, to 24,206.86, the S&P 500 lost 30.97 points, or 1.05%, to 2,922.94 and the Nasdaq Composite dropped 49.72 points, or 0.54%, to 9,185.10.
Secondary trading on the bond market at the Nairobi Securities Exchange was relatively unchanged with bonds worth Kes 1.98 Billion trading in 80 deals, as compared to yesterday’s turnover of Kes 1.93 Billion which was achieved in 96deals.
Global EconomiesUber to Lay Off 3,000 More Employees as COVID-19 Continues to hit the Company
283 min
The move comes less than two weeks after Uber laid off 3,700 employees, or 14 percent of its global workforce. In total, the company has eliminated around a quarter of its staff in less than a month and announced that it will close 45 offices globally
Hong Kong’s Hang Seng index led gains among the region’s major markets, jumping 2.38% in early trade as shares of HSBC soared more than 3%.
The derivatives market of the Nairobi Securities Exchange had reduced activity with one contract traded; the Equity Bank single stock future traded worth Kes 35,000, as compared to Friday's 5 contracts valued at Kes 175,000.
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Oil prices rose in the afternoon of Asian trading hours on expectations of demand pick-up and supply cuts, reaching the highest levels since march.
Last year, the brewer, which has presence in Kenya, Uganda and Tanzania saw its net revenue rise to Kes 82.5 billion, gains which were primarily driven by strong underlying performance on the back of stable operating environment in the region.
Equity turnover at the Nairobi Securities Exchange closed the week with a relative growth in value in terms of shares exchanging hands and by turnover. Turnover for the week stood at Kes.4.9 Billion against Kes.4.85 Billion transacted the previous week
Earnings UpdateStanbic Bank increases Deposits, Expands loan book to Kes 161 billion in Quarter 1
343 min
Stanbic Bank restructured KSh 2.3 billion of SME loans and saw SMEs get a three-month loan holiday. This was particularly impactful as SMEs have been hardest hit by the COVID-19 crisis putting a strain on their ability to meet basic functions such as salaries and utility bills.
East African Breweries Plc was today's most active counter by turnover, moving 3.24 Million shares valued at Kes 535 Million. This represented 31.82% of the day's traded value.
The negative outlook also captures the higher risks to the bank's asset quality and profitability due to a more fragile economic environment which will translate in reduced business activity, fewer fee-generating transactions and the higher cost of credit.
First-quarter earnings season is on the final stretch, with 451 of the companies in the S&P 500 having reported. Of those, 66.7% have beaten consensus.
In trading in the region on Friday, Japan’s benchmark Topix index fell 0.3 per cent while Hong Kong’s Hang Seng index dropped 0.6 per cent. South Korea’s Kospi and China’s CSI 300 of Shanghai- and Shenzhen-listed stocks were little changed.
There were 8 contracts concluded worth Kes 246, 500 on the derivatives market in today’s trading session.
The fall in Australian stocks came as the country’s unemployment rate jumped to 6.2 per cent, the highest level in five years. The Australian dollar fell 0.3 per cent against the dollar to $0.6439, taking the currency’s losses to more than 8 per cent for the year.
The Dow Jones Industrial Average fell 516.81 points, or 2.17%, to 23,247.97, the S&P 500 lost 50.12 points, or 1.75%, to 2,820 and the Nasdaq Composite dropped 139.38 points, or 1.55%, to 8,863.17.
There were no contracts concluded on the derivatives market in today's trading session. This is against the Kes 712,200 turnover achieved in 10 trades recorded in yesterday's trading session.
Futures markets tipped the S&P 500 to drop 0.4 per cent when trading begins on Wall Street later in the day, while London’s flagship FTSE 100 was expected to shed 1.6 per cent.
The Cboe Volatility Index, known as Wall Street’s fear gauge, ended 5.47 points higher at 33.04. It was the biggest one-day point gain for the VIX in more than three weeks. Among the S&P’s 11 major sectors, real estate was the biggest percentage decliner with a 4.3% drop.
The Derivatives market of the NSE had 10 trades contracts concluded in today’s session valued at Kes 712,200 as compared to no trades in the previous session.
Hong Kong’s Hang Seng index fell 1.48%, as of its final hour of trading while in Japan, the Nikkei 225 declined 0.12% to close at 20,366.48 while the Topix index slipped 0.26% to end its trading day at 1,476.72. South Korea’s Kospi closed 0.68% lower at 1,922.17.
The Dow Jones Industrial Average fell 109.33 points, or 0.45%, to 24,221.99, the S&P 500 gained 0.39 points, or 0.01%, to 2,930.19 and the Nasdaq Composite added 71.02 points, or 0.78%, to 9,192.34.
The secondary Bond market at the Nairobi Securities Exchange recorded moderate growth in activity with bonds worth Kes 2.66 Billion trading in 98 deals, as compared to Friday turnover of Kes 2.73 Billion which was achieved in 108 deals.
Japan's Nikkei added 0.7% and South Korean stocks 0.3%. E-Mini futures for the S&P 500 ESc1 opened soft but bounced as the morning wore on and was last up 0.3%.
The largest advances in Asia Pacific region came in Japan and Hong Kong, with Seoul and Shanghai also seeing gains though volumes were down across the board.
The benchmark NSE All Share Index (NASI) closed at 140.87, representing a 1-week gain of 0.84%, a 4-week gain of 6.14%, but an overall year-to-date loss of 15.35%. The NSE 20 Share Index was up 3.91% during the week to close at 2,034.71 and the NSE25 share index gained 1.83% to close the week at 3,352.96 basis point
The Dow Jones Industrial Average rose 455.43 points, or 1.91%, to 24,331.32, the S&P 500 gained 48.61 points, or 1.69%, to 2,929.8 and the Nasdaq Composite added 141.66 points, or 1.58%, to 9,121.32.
The secondary Bond market at the Nairobi Securities Exchange recorded moderate growth in activity with bonds worth Kes 2.73 Billion trading in 108 deals, as compared to yesterday’s turnover of Kes 2.27 Billion which was achieved in 94 deals.
In each of the next three years, Kenya will need to repay on average 1.7% of GDP in external principal amortizations in addition to any potential external financing of the fiscal deficit.
Japanese stocks led gains among the region’s major markets, with the Nikkei 225 jumping 2.06% in afternoon trade
Stocks have rebounded sharply since late March from the coronavirus-fueled sell-off, helped by massive monetary and fiscal stimulus
The Derivatives market had three contracts valued at Kes 119,000 concluded at the end of today’s trading session. This was lower in value as compared to yesterday’s three contracts valued at Kes 89,900.
Our market does not expect the stimulus similar to the US and Europe with Trillions of dollars poured out to the economy but something promising from the government will definitely push the market on a positive trajectory
Asian markets fell moderately on Thursday as investors held their breath over data that could add to the picture of how the world economy is dealing with the coronavirus outbreak. Hong Kong and Australia led the declines in the Asia-Pacific region. Futures markets signaled muted openings in Europe and on Wall Street. Japan’s Nikkei .N225 was off a slim 0.2% while South Korea .KS11 added 0.2%. Chinese blue chips .CSI300 were just a fraction lower, while E-Mini futures for the...
The tech-heavy Nasdaq ended higher, although indexes pulled back late in the session especially after U.S. President Donald Trump said China may or may not keep a trade deal between the two countries.
The International Monetary Fund sees the world needing public investment of more than $20 trillion in the next two decades as nations spend on initiatives including improved healthcare systems, infrastructure and green technology.
The secondary Bond market at the Nairobi Securities Exchange recorded a decline in activity with bonds worth Kes 1.57 Billion trading in 106 deals, as compared to yesterday’s turnover of Kes 3.25 Billion which was achieved in 155 deals.
How do you know if it’s time to give up on a stock? While nobody would be able to make this decision for you, there are tips that would give you a pointer of when it is time to sell some stocks from your portfolio
CIPLA's share price has fallen by more than a half from the Initial Public Offering (IPO) price of Ushs 256.5 per share in 2018. Its shares were trading at Ushs 101 apiece as of May 5, 2020.
Brent crude, the international benchmark, was off 0.1 per cent on Wednesday morning in Asia but still up for the week at $30.95 a barrel, having hit the $30 mark on Tuesday for the first time in six weeks
The Dow Jones Industrial Average rose 133.33 points, or 0.56%, to 23,883.09, the S&P 500 gained 25.7 points, or 0.90%, to 2,868.44 and the Nasdaq Composite added 98.41 points, or 1.13%, to 8,809.12
Safaricom was the day’s main feature with 8.2M shares valued at Kes.248M changing hands at between Kes.29.50 and Kes.30.40; this represented 42.53% of the day’s traded value.
The upturn for stocks came on more optimistic statements from the governors of California and New York for reopening businesses. Andrew Cuomo of New York on Monday outlined a phased reopening in the U.S. state hardest hit by the COVID-19 pandemic.
The Derivatives market of the NSE remained silent with no contracts concluded in today’s trading session.
Analysts warned that after a strong April - fueled by optimism the worst of the disease has passed - equities could suffer a tumultuous May as corporate earnings and other indicators reveal the extent of the damage inflicted.
The NSE All Share Index closed at 139.69, which represented a 1-week gain of 2.88%, a 4-week gain of 5.89%, but an overall year-to-date loss of 16.06%. The NSE20 share was down 9.77 points to stand at 1958.07 while the NSE25 Share index added 117.19 points or 3.69% to stand at 3292.64. at the close of trading Thursday.
Buffett, who will host Berkshire’s annual meeting virtually later Saturday, has largely stayed in the shadows as the pandemic hammered the global economy and stock markets. That’s a contrast to the financial crisis in 2008, when his Omaha-based company dipped into its vast cash reserves to gain lucrative preferred shares and rescue businesses teetering on the edge of collapse. While Berkshire’s operating earnings climbed in the first quarter, Buffett warned of pain from the virus’s fallout.
Amazon stock fell about 5 percent after the company reported on Thursday that despite surging sales in the first quarter, costs to deliver products amid the pandemic had taken a big bite out of profits.
The Dow Jones Industrial Average fell 288.14 points, or 1.17%, to 24,345.72, the S&P 500 lost 27.08 points, or 0.92%, to 2,912.43 and the Nasdaq Composite dropped 25.16 points, or 0.28%, to 8,889.55
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