Old Mutual and Seed International said in separate e-mailed statements that they would comply with an order issued by finance minister Mthuli Ncube that they suspend trading “pending finalization of the modalities for their resumption to trade.”
Home2020July 2020 - The Trading Room
The idea was boosted by passage of The Public Procurement and Disposal (Amendment) Bill, 2013 which provided that women, youth and persons with disabilities get 30% of all the government tenders.
Oil prices were up in the afternoon of Asian trading hours, with international benchmark Brent crude futures adding 0.47% to $43.14 per barrel. U.S. crude futures rose 0.4% to $40.08 per barrel.
The Dow Jones Industrial Average fell 225.92 points, or 0.85%, to 26,313.65, the S&P 500 lost 12.22 points, or 0.38%, to 3,246.22 and the Nasdaq Composite added 44.87 points, or 0.43%, to 10,587.81.
The derivatives market of the NSE had 5 contracts valued at Kes 141,500 concluded in today's trading session. This was against the 4 contracts valued at Kes 114,000 concluded in previous trading session.
Ndegwa said Nganga took up leadership reins at a time when government was starting to process of offering 25% of its shares to the public through the Nairobi Stock Exchange (NSE) in 2008.
The Japanese yen traded at 105.03 per dollar following its strengthening earlier in the trading week from levels above 105.3 against the greenback. The Australian dollar changed hands at $0.7175 after rising from levels below $0.712 this week.
The Dow Jones Industrial Average rose 160.29 points, or 0.61%, to 26,539.57, the S&P 500 gained 40 points, or 1.24%, to 3,258.44 and the Nasdaq Composite added 140.85 points, or 1.35%, to 10,542.94.
East African Breweries Limited (EABL) recorded a 9% decline in net sales for the financial year ended 30 June 2020, as first half growth of 10% was offset by a 29% decline in the second half. The second half decline was due to the impact of the Covid-19 pandemic which saw containment measures implemented across East Africa from late March 2020. The pandemic impacted EABL’s business performance after three consecutive double-digit halves of growth, with...
The derivatives market of the NSE had 4 contracts valued at Kes 114,000 concluded in today's trading session. These were the first trades to be concluded on the derivatives market this week.
The future of Kenya’s largest mining company Base Titanium hangs in the balance due to depleting minerals and delays in approving new mines. The company says resources at the Kwale South dune will run out in two years’ time while the government is yet to extend the boundary to incorporate some additional mineral resources. The company says the boundary has proven ore deposit that can last the company for another 12 months. For the last...
The company said its net proceeds from the Kantar deal stood at Sh5 billion. The transaction involved the sale of an 80 percent stake in Kantar TNS and a 100 percent shareholding in Kantar Millward Brown.
Morning BriefAsian Markets Mixed Ahead of U.S. Fed rate decision; Japan’s Nissan Motor plunges
174 min
The Japanese yen traded at 105.04 per dollar after strengthening from levels around 105.60 against the greenback yesterday. The Australian dollar changed hands at $0.7164 following its rise from levels around $0.71 early in the trading week.
Data released in the morning showed U.S. consumer confidence ebbed in July as coronavirus infections flared up across the country.
The secondary bond market on the Nairobi Securities Exchange soared in activity during today’s session with bonds worth Kes 6.2 Billion achieved in 113 deals in today’s session as compared to the Kes 1.42 Billion achieved in 74 deals during the previous trading session.
Eligibility of the financing plan will be based on customer credit score. The subscriber will need a history with Safaricom network going back at least one year and be between 18-75 years of age.
During 2Q2020, bond market turnover decreased by 13.50% with 137 billion worth of bonds traded compared to 158 billion traded in 1Q2020.
The Japanese yen traded at 105.27 per dollar after it strengthened from levels above 105.7 yesterday. The Australian dollar was at $0.7169 after rising from levels around $0.71 in the previous trading day.
Investors kept their eye on earnings, with 189 S&P 500 companies scheduled to report results this week. About 80% of the 130 S&P 500 firms that have reported so far have beaten a low bar of earnings estimates, according to IBES Refinitiv data.
New aircraft demand is likely to recover even slower than passenger demand, and there are substantial risks that Airbus and Boeing will need to cut production rates below current levels in response. Rolls-Royce is exposed to the widebody aircraft segment which is likely to recover more slowly than the market as a whole.
The Central Bank of Kenya in June revealed that the ratio of non-performing loans stood at 13.1 percent, the highest since August 2007 when it stood at 14.41 percent.
The Derivatives markets of the Nairobi Securities Exchange closed Monday's session with no contracts concluded. This is from the 6 contracts valued at Kes 165,980 traded in Friday's trading session.
Oil prices dipped in the morning of Asian trading hours, with international benchmark Brent crude futures down 0.35% to $43.19 per barrel. U.S. crude futures also shed about 0.2% to $41.21 per barrel.
The renminbi declined following the escalation in U.S.-Beijing tensions, losing 0.4% against the greenback and closing at 7.018 for the week.
Market sentiment, as measured by market breadth, closed positive with the NSE closing the last trading day with 23 gainers against 18 losers.
The Dow Jones Industrial Average fell 182.44 points, or 0.68%, to 26,469.89, the S&P 500 lost 20.03 points, or 0.62%, to 3,215.63 and the Nasdaq Composite dropped 98.24 points, or 0.94%, to 10,363.18.
The Secondary bond market on the Nairobi Securities Exchange recorded a increase in activity with bonds worth Kes 3.23 Billion transacted against the Kes 1.44 billion worth of bonds traded during yesterday's trading session. The number of deals however declined to 75 from yesterday’s 56 deals.
The budget support intervention, will help boost the Malawi National COVID-19 Preparedness and Response Plan that has been developed with multi-stakeholders including government, development partners and non-government organizations.
The Kes 9 per share for the financial year ended December 2019 will be paid despite the shareholders not approving at an Annual General Meeting.
The Japanese yen traded at 106.39 per dollar, after wavering between 106 and 107 for most of this week. The Australian dollar slipped below the 0.71 level, last changing hands around 0.7090.
The S&P 500 posted 51 new 52-week highs and no new lows; the Nasdaq Composite recorded 103 new highs and 17 new lows.
The Secondary bond market on the Nairobi Securities Exchange recorded a decline in activity with bonds worth Kes 1.44 Billion transacted against the Kes 1.86 billion worth of bonds traded during Wednesday's trading session.
IFC remains committed to scaling investment and advisory support in Kenya, especially within the context of Kenya’s Big Four Agenda of manufacturing, affordable housing, affordable healthcare, and food security.
CBK is using some of its reserves to help ease some of that pressure, which we think is partially seasonal
The Australian dollar was flat and changed hands at $0.7137 while the Korean won traded at 1,198.61 per U.S. dollar, with the dollar/won pair up 0.12%.
Volume on U.S. exchanges was 10.32 billion shares, compared with the 11.28 billion average over the last 20 trading days.
At the end of today’s trading session on the Nairobi Securities Exchange (NSE). A total of 38,782,100 shares in 1,113 deals, corresponding to a market value of KES 1,074,179,815.00, were traded. Compared with the previous NSE trading day (Tuesday, July 21), today’s data shows 1% decline in volume, 6% improvement in turnover, but 20% decline in deals. The current NSE market capitalization is KES 1.97 trillion. In the aggregate, 47 NSE listed equities participated in...
Japan's Nikkei 225's lost 0.37%, while the Topix edged down 0.19%. The country's manufacturing activity contracted for a 13th straight month in July, data showed, according to Reuters.
Financial, industrial and energy stocks gave the biggest boosts to the bellwether S&P 500 and blue-chip Dow as investors pivoted back to cyclicals
There were 27 contracts valued at Kes 673,100 concluded in today's trading session. The Safaricom contract expiring on 17th September was the most traded contract in today's session.
The new changes at the electricity distributor comes after Kenya Power in June issued a profit warning saying that it has witnessed reduced electricity consumption.
Oil prices traded higher Tuesday morning during Asian hours. U.S. crude traded up 0.15% at $40.87 a barrel while global benchmark Brent added 0.09% to $43.32.
Moderna Inc (MRNA.O) shares tumbled 12.8% on positive results from its competitors’ rival COVID-19 drug trials. Electric automaker Tesla Inc (TSLA.O) rose 9.5% to reach a record closing high of $1,643.
The secondary bond market on the Nairobi Securities Exchange recorded a decline in today’s session with bonds worth Kes 895 million achieved in 84 deals in today’s session as compared to the Kes 2.2 Billion achieved in 63 deals during the previous trading session.
In addition, some of the small businesses will be offered a market of their products by the government.
The Japanese yen traded at 107.35 per dollar, after a turbulent previous week where it traded at around levels between 106 and 107. The Australian dollar touched the 0.70 level briefly, before falling back to 0.6976.
Japanese stocks posted gains for the week. The Nikkei 225 Stock Average advanced 406 points (1.8%) and closed at 22,696.42
The Nasdaq ended 1.1% lower for the week as investors sold shares of high-flying companies including Microsoft Corp and Amazon.com Inc and moved into cyclical sectors
The secondary bond market on the Nairobi Securities Exchange recorded a slump in today’s session with bonds worth Kes 2.24 Billion achieved in 63 deals.
The Dow Jones Industrial Average fell 0.5% to end at 26,734.71 points, while the S&P 500 lost 0.34% to 3,215.57.
The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 96.346 following its decline from levels above 96.4 seen earlier in the trading week.
The Derivatives markets of the Nairobi Securities Exchange recorded a decline in activity with 6 contracts valued at Kes 162,000 against the 9 contract valued at Kes 248,550 concluded in the previous trading session.
The 54 tea factory companies, which own the 69 factories that are managed by KTDA, will proceed to close their financial books for the year and also declare the final payment to each of their tea factory farmers.
Hong Kong's Hang Seng index declined 0.4%. In Japan, the Nikkei 225 dipped 0.34% in morning trade while the Topix index was 0.13% lower.
The Dow Jones Industrial Average rose 0.85% to end at 26,870.03 points, while the S&P 500 gained 0.91% to 3,226.55
The secondary bond market on the Nairobi Securities Exchange recorded a slight decline in activity with bonds worth Kes 2.00 Billion achieved in 133 deals.
The ratings on Kenya are nevertheless supported by its diversified economic base, including its large and diversified agricultural and services sectors, relative to peers, which should help cushion its economy.
The Japanese yen traded at 107.22 per dollar after touching levels around 107.4 against the greenback yesterday. The Australian dollar changed hands at $0.7008 after rising from levels below $0.694 yesterday.
Delta Air Lines Inc ended down 2.65% after it warned it will be more than two years before the industry sees a sustainable recovery from the “staggering” impact of the coronavirus pandemic, with demand largely tracking the curve of infections in different places.
The airline will continuously review the protocols in place and update these where necessary to continue being ahead of the curve when it comes to safety
The secondary bond market on the Nairobi Securities Exchange recorded an increase in activity with bonds worth Kes 2.17 Billion achieved in 59 deals on the market as compared to the Kes 1.17 Billion achieved in 44 deals during the previous trading session.
Pan African housing development financier, Shelter Afrique signalled a full recovery as it reported its 2019 earnings Tuesday. The Company reduced its operating loss to KSh 59 million (USD 0.59M) in 2019, down from theKSh 923 million (US$9.23M) loss recorded in 2018, representing a 94% drop year-o-year. Addressing the Press in Nairobi, Shelter Afrique Chairman Dr. Steve Mainda said despite the minimal loss, the Company had put the distressful past behind it and had successfully turned...
Corporate NewsKiprono Kittony Appointed as New Board Chair of the Nairobi Securities Exchange.
813 min
Kittony takes over from Samuel Kimani who stepped down as chair of board on July 13, 2020
Morning BriefAsia Pacific Stocks Dip as Data Shows Singapore’s Economy Slumped in Second Quarter
235 min
The Japanese yen traded at 107.21 per dollar after weakening from the 106.8 against the greenback yesterday. The Australian dollar changed hands at $0.6934 after turbulent trading on Monday that saw it at levels above $0.698.
Volume on U.S. exchanges was 11.6 billion shares, compared with the 11.9 billion average for the full session over the last 20 trading days
The Derivatives markets of the Nairobi Securities Exchange had one Safaricom single stock future's contract valued at Kes 27,500 concluded during today's trading session.
Standard Investment Bank, Kenya’s first and only regulated Online Forex Trading Money Manager by the Capital Markets Authority (CMA), successfully squeezed out an average Annualized Return of 20.30% for the first half of the 2020. The returns delivered between 1st January and June 30th June 2020 are among the highest in the market, coming at a time when most investors opted to hold their funds in conservative investment options such as government bonds and money...
The Japanese yen traded at 106.90 per dollar following a strengthening from levels above 107.2 against the greenback last week. The Australian dollar changed hands at $0.6942 after turbulent trading last week that saw it swinging between levels below $0.694 to above $0.698
Secondary trading on the Bond market at the Nairobi bourse witnessed improved activity with bonds worth Kes.14 billion transacted compared to Kes.9 billion registered the previous week.
Gilead’s (GILD.O) remdesivir significantly improved clinical recovery and reduced the risk of death in COVID-19 patients, additional data from a late-stage study showed.
The secondary bond market on the Nairobi Securities Exchange recorded a decline in activity with bonds worth Kes 1.26 Billion achieved in 52 deals on the market as compared to the Kes 2.68 Billion achieved in 88 deals during the previous trading session.
Members of the Advisory Council play a critical role of looking into progress and constraints to gender equality globally and providing feedback and guidance of the bank’s work on gender equality and women’s voice.
Global benchmark Brent traded down 1.61% at $41.67 while U.S. crude fell 1.89% to $38.87 a barrel.
Declining issues outnumbered advancing ones on the NYSE by a 2.63-to-1 ratio; on Nasdaq, a 2.09-to-1 ratio favored decliners.
The de-listing comes on the back of falling revenues that have eroded the firm’s capital base over the years, wiping out billions of shillings in shareholder value.
Libya, whose ports have been blockaded since January, is trying to resume exports after the state oil firm lifted force majeure at its Es Sider oil terminal on Wednesday. However, a tanker was prevented from entering the port.
At the end of today’s trading session on the Nairobi Securities Exchange (NSE). A total of 47,288,500 shares in 1,418 deals, corresponding to a market value of KES 1,294,185,188.00, were traded. Compared with the previous NSE trading day (Wednesday, July 8), today’s data shows 59% improvement in volume, 57% improvement in turnover, but 10% decline in deals. The current NSE market capitalization is KES 1.99 trillion. In the aggregate, 50 NSE listed equities participated in...
Oil prices were lower in the morning of Asian trading hours, with international benchmark Brent crude futures down 0.12% to $43.24 per barrel. U.S. crude futures slipped 0.24% to $40.80 per barrel.
Biogen Inc jumped 4.4% after the company said it submitted the marketing application for its experimental Alzheimer’s disease therapy, aducanumab.
The secondary bond market on the Nairobi Securities Exchange recorded a notable increase in activity with bonds worth Kes 4.5 Billion achieved in 111 deals on the market as compared to the Kes 3.24 Billion achieved in 104 deals during the previous trading session.
NCBA Bank has appointed Tirus Mwithiga as the new Group Director Retail Banking as it seeks to strengthen and grow its retail business following regulatory approval. He brings to the Bank 29 years of experience in Retail Banking and Wealth Management having served in an array of leadership roles in banks locally, regionally and internationally, including Barclays Bank and Standard Chartered. Prior to joining NCBA, Mr. Mwithiga worked with Standard Chartered Bank in Singapore where...
Oil prices were little changed in the morning of Asian trading hours, with international benchmark Brent crude futures at $42.95 per barrel, while U.S. crude futures stood at $40.48 per barrel.
The Dow Jones Industrial Average fell 396.85 points, or 1.51%, to 25,890.18, the S&P 500 lost 34.4 points, or 1.08%, to 3,145.32 and the Nasdaq Composite dropped 89.76 points, or 0.86%, to 10,343.89.
The Derivatives Market had 9 contracts valued at Kes. 253,160 transacted in today’s trading session, this was higher, compared to the 2 contracts valued at Kes 103,000 transacted the previous trading session.
The Capital Markets (Coffee Exchange) Regulations 2020 provide for; incorporation of the coffee exchange; licensing of brokers; establishment and operationalization of a direct settlement system for expedited and transparent payment of coffee sales proceeds.
WPP Scangroup Plc yesterday declared a special dividend of KES 8.00 per share following the disposal of its marketing research operations. The transaction by WPP Scangroup follows the disposal by WPP plc of a 60% stake disposal in Kantar operations to Bain Capital Private Equity in July 2019. The company had earlier said it would distribute at least Sh2 billion or Sh4.7 per share from the proceeds arising from the sale of its Kantar business...
The Japanese yen traded at 107.38 per dollar following a strengthening from levels above 107.6 yesterday. The Australian dollar changed hands at $0.6963 after bouncing from levels around $0.695 yesterday.
The Dow Jones Industrial Average rose 459.67 points, or 1.78%, to 26,287.03, the S&P 500 gained 49.71 points, or 1.59%, to 3,179.72 and the Nasdaq Composite added 226.02 points, or 2.21%, to 10,433.65.
At the end of the first weekday of trading on the Nairobi Securities Exchange (NSE). A total of 22,303,800 shares in 1,238 deals, corresponding to a market value of KES 553,494,555.00, were traded. Compared with the previous NSE trading day (Friday, July 3), today’s data shows 256% improvement in volume, 266% improvement in turnover, and 21% improvement in deals. The current NSE market capitalization is KES 2.07 trillion. In the aggregate, 45 NSE listed equities...
The moves upward regionally came despite the World Health Organization saying Saturday that more than 200,000 coronavirus cases were confirmed over a 24-hour period
While currencies saw muted moves in early trading on Monday, the Australian dollar underperformed, dropping as much as 0.2%.
Secondary trading on the bond Market at the Nairobi Securities Exchange registered reduced activity with bonds worth Kes.9.0 billion transacted this week as compared to the Kes.20 billion registered on the previous trading session.
Open interest on the contracts rose steadily over the period with experienced declines after the 19th March 2020 and 18th June 2020 contract expiry dates
The secondary bond market on the Nairobi Securities Exchange recorded a decline in activity with bonds worth Kes 1.14 Billion achieved in 77 deals on the market as compared to the Kes 2.04 Billion achieved in 127 deals during the previous trading session
The National Aviation Management Bill, 2020 seeks to establish the National Civil Aviation Council that will oversee the creation of a new outfit, Kenya Aviation Corporation (KAC), to run the national carrier.
Stocks in Asia edged higher in Friday afternoon trade as positive economic data raised optimism over the prospects of an economic recovery from the coronavirus pandemic.
This follows a unanimous approval of the transaction by shareholders of Jamii Bora Bank during the extra ordinary general meeting held Wednesday.
The S&P 500 posted 36 new 52-week highs and no new lows; the Nasdaq Composite recorded 123 new highs and 10 new lows
The Derivatives Market had 2 contracts valued at Kes 64,050 transacted in today’s trading session. This was against the 4 contracts valued at Kes 112,600 concluded in the previous session.
KDIC says the new limit will cover 99 per cent of depositors with funds in banks and deposit-taking microfinance institutions.
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