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Global Markets Weekly Market Review – Week 43, 2020

Following three consecutive weekly advances, global stocks declined modestly during the week. The news flow was dominated by headlines around the negotiations for another round of fiscal relief from Washington before the U.S election, which is fast approaching is held. United States The major benchmarks ended mixed, as investors reacted to stimulus negotiations while monitoring third-quarter corporate earnings reports. The technology-heavy Nasdaq Composite Index performed worst, dragged lower by weakness in bellwether Apple, while the...

Tea Sector Posts Decline in Exports for First Eight Months

Tea exports fell by 14,000 tons in the first eight months of this year due to a drop in demand from traditional markets. Data from the Tea Directorate shows export volumes for Kenyan tea for the period between January to August dropped from 337,000 tons in 2019 to 323,000 tons in 2020. The global tea market size was valued at 55 billion dollars in 2019, and is projected to reach 69 billion dollars in seven...

HF Group Appoints Adan Mohamed as a Non-Executive Director of Mortgage subsidiary, HFC.

The Board of Directors of HF Group Plc has appointed  Mr. Adan Daud Mohamed as a Non-Executive Director of its Mortgage subsidiary, HFC effective 19th October 2020. Mr. Adan Mohammed holds a degree in law and was admitted as an attorney General at the law by the Supreme Court of the State of Minnesota in the USA in the year 2003. Mr. Adan Mohamed has  practiced  as an advocate of the High court of Kenya...

Global Markets Weekly Market Review – Week 42, 2020

Global markets were mixed but generally ended higher during the week as data on the coronavirus and various economic fronts streamed in during the week. On the global economic front, there was increased hope for a fiscal stimulus package. On the vaccine front, some trials have been paused due to health concerns, and Pfizer has filed an emergency-use plan for the end of November. United States The large-cap benchmarks narrowly managed a third consecutive week...

Asian – Pacific Stocks Decline, Following Wall-Street and Coronavirus Fears

Stocks across Asia-Pacific were mostly down by the close on Friday, amid dampened sentiment on the coronavirus front. Meanwhile, the U.S. dollar strengthened as uncertainty rose with investors flocking to the haven currency. Mainland Chinese stocks were mixed by the close, with the Shanghai composite up 0.13% to 3,336.36, while the Shenzhen component declined 0.68% to 13,532.73. Over in Hong Kong, the Hang Seng index jumped 1.04% by the afternoon. But markets were mostly down...

Kenya Ranked 7th Position in the Absa Africa Financial Markets Index 2020

The fourth edition of Absa Africa Financial Markets Index 2020 show Kenya has dropped four places. The  index that  measures the capacity of countries to attract both  local and foreign investments, shows that Kenya  has lost seven points to score 58 out of 100 points hence placing it at the seventh position. The countries that were ahead of kenya were South Africa and Mauritius which scored 89 and 79 points respectively followed by Nigeria,Botswana,Namibia and...

Market Report; 12 October,2020

At the end of the first weekday of trading on the Nairobi Securities Exchange (NSE), A total of 8,680,100 shares in 717 deals, corresponding to a market value of KES 198,972,048.00, were traded. Compared with the previous NSE trading day (Friday, October 9), today’s data shows 37% decline in volume, 39% decline in turnover, and 9% decline in deals. The current NSE market capitalization is KES 2.1 trillion. In the aggregate, 44 NSE listed equities...

Global Markets Weekly Market Review – Week 41, 2020

Global markets were mixed during the week, posting declines earlier in the week and closing later higher, mixed with optimisms on the U.S elections and the health of the U.S President Donald Trump on the coronavirus. Global markets also posted the best weekly gain since early July, while long-term government yields rose to a four-month high. United States The S&P 500 Index had its best weekly gain in three months, as investors seemed to grow...

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