Going forward NBV has set its sight on opportunities within the infrastructure sector leveraging on the growing demand for mega projects in Africa that have created a demand for cement and steel.
Home2020November 2020 - The Trading Room
There were no contracts concluded during today’s trading session on the derivatives market of the NSE.
Alternatively, for brokers to trade they would have to have "sponsored membership" in a local market where they want to buy stocks.
Morning BriefAsian Markets Trade Lower on Monday as Investors React to China’s November PMI Data
324 min
The Japanese yen traded at 103.97 per dollar after strengthening from levels above 104.4 against the greenback last week. The Australian dollar changed hands at $0.7379, having risen from levels below $0.732 in the previous week.
The service will allow customers to send money to bank accounts and mobile wallets in 15 countries, including neighboring Uganda, the United Kingdom, India, China and Germany.
Family Bank also signed a partnership with Performeter Agribusiness Limited setting aside Sh1 billion to fund fodder production for dairy farmers in cooperatives.
KCB Group Plc was however up with investors reacting to news of acquisitions in Rwanda and Tanzania. The share price rose 2.62% to Kes.37.15, with 10 million shares valued at Kes.375 million transacted.
A new round of vaccine optimism and diminishing political uncertainty helped global stocks build on recent gains for the holiday-shortened week
U.S.-listed shares of iQIYI Inc fell 1.7% after Reuters reported Alibaba Group Holding Ltd and Tencent Holdings Ltd had put on hold talks to buy a controlling stake in the video streaming service.
There were no contracts concluded during today’s trading session on the derivatives market of the NSE.
The dim performance is attributed to an increase in loan loss provisions which surged by 76% in what the lender says is sufficient to cover future potential credit losses.
The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 91.915 following its decline earlier this week from levels above 92.4.
The Group has not received any dividends from portfolio companies where the Group holds minority stakes in the six-month period ending 30 September 2020 as these portfolio companies have elected to build resilience in their balance sheets by preserving cash
Manufacturing sector recorded a 7.8% growth in loan uptake, transport and communications at 21.1%, real estate 7.6%, and consumer durables at 15.7%.
Global MarketsGlobal Markets Continue on Rally to Close at New Highs; U.S Markets Closed for Holiday
226 min
German Chancellor Angela Merkel told parliament that lockdown measures will be in place until at least the end of December and possibly longer.
There were no contracts concluded during today’s trading session on the derivatives market of the NSE.
Following that announcement, the Korean won traded at 1,104.90 per dollar, as compared to an earlier low of 1,107.30 against the greenback.
Corporate NewsKCB Group Announces Strategic Transactions to Acquire ATLAS Mara’s Two Subsidiaries
355 min
With KCB's existing presence in these markets and strong banking capabilities in East Africa, the merged banks in each market can build on the significant progress made in recent years and be well positioned to succeed in the macroeconomic recovery to come
Corporate NewsM-Pesa Becomes First African FinTech to Join United for Wildlife Financial Taskforce
484 min
There are now 42 signatories to the Declaration including Standard Bank, Barclays, Banco Santander Group, the City of London, Deutsche Bank, HSBC Bank, and JP Morgan Chase. The United for Wildlife Taskforce Information Sharing System underpins much of the action by the taskforce.
Tesla Inc, which surpassed $500 billion in market capitalization on Tuesday, extended its gain by 3.4% even after the electric-car maker recalled about 9,500 vehicles.
There were three Safaricom single stock futures contracts expiring on 17th December valued at Kes 95,340 concluded on the derivatives market of the Nairobi Securities Exchange.
Under the Inuka SME Program, over 4,000 MSMEs have interacted with the training. The partnership will provide a hybrid targeted approach to advance the green finance agenda in Kenya.
The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 91.96 after seeing levels above 92.4 earlier in the week.
The higher return is attributed to the fund’s ability to employ long/short trading models which ensures capital appreciation for investors whether markets are gaining in value (going long) or losing value (going short).
Corporate NewsKengen to Inject 236.3MW in National Grid as Company Seeks Direct Electricity Sale
574 min
As of 30th June 2019, KenGen had an installed capacity of 1,631.1MW out of which 85% was generated through green sources, mainly geothermal, wind, and solar with the balance coming from thermal sources.
Boeing Co gained after European regulators gave draft approval to its 737 MAX jets, paving the way for a formal flight clearance in January.
There were no contracts concluded during today's trading session on the derivatives market of the NSE.
The government is doing a financial evaluation of as many as nine state companies, including Kenya Airways Plc, Kenya Power and Kenya Electricity Generating Co.
Market ReportAsian Markets Rise on Vaccine Hopes and Joe Biden’s Pick on Yellen for Treasury Secretary
274 min
Investors continued to monitor positive momentum surrounding the race for a coronavirus vaccine. AstraZeneca said Monday interim analysis showed its coronavirus vaccine has an average efficacy of 70% in protecting against the virus.
Cyclicals led gains, with energy ahead by 7.09% while industrials and financials each rose more than 1%, as data showed monthly business activity expanded at the fastest rate in more than five years.
The bonds market posted a moderate decline in turnover during today’s trading session, with bonds worth Kes 2.20 billion transacted in 58 deals against the Kes 2.44 billion worth of bonds transacted in the previous trading session.
Carbacid Investment has announced a profit before tax of Kes 427 million for the year ended July 31, 2020, marking a 13 percent increase from the Kes 377 million posted a year earlier. In a statement, the group’s board secretary N P Kothari however said the firm was negatively impacted by an unrealized loss on equity holdings by listed companies of Kes39 million. “Turnover increased by 8 percent while operational and administrative costs are being...
Kenyans abroad sent home a record Kes. 28.4 billion ($263.1 million) in October this year, a 17.3% increase compared to the same period last year when inflows for the month stood at Kes. 22.4 billion ($224.3 million) Data from the Central Bank of Kenya further indicate that cumulative inflows in 12 months ending October 2020 totaled Kes 324.6 billion outpacing last year’s performance when remittances amounted to Kes. 292.7 billion. Remittance inflows have continued to...
Oil prices were higher in the afternoon of Asia trading hours, as international benchmark Brent crude futures rose 1.27% to $45.53 per barrel. U.S. crude futures added 1.08% to $42.88 per barrel.
The secondary trading on the bond market saw a growth in activity with bonds, posting a 31.5% rise in turnover with bonds valued at Kes.12.5 billion billion traded against the Kes 9.5 billion worth of bonds transacted in the previous week.
The South African Reserve Bank (Sarb) left the repurchase rate (repo rate) unchanged at 3.5 percent as inflation is expected to remain contained in the medium term.
In addition to receiving seed funding prizes and post-competition mentoring, AgriPitch winners will be invited to the AYAF online DealRoom, which connects expansion-ready, youth-led African businesses with global investors.
Stay-at-home beneficiary Zoom Video Communications Inc provided the biggest lift to the Nasdaq.
The bonds market posted a rise in turnover during today’s trading session, with bonds worth Kes 2.44 billion transacted in 58 deals against the 1.06 billion worth of bonds transacted in the previous trading session.
The dollar index, which measures the U.S. dollar against a basket of its peers, last traded at 92.213, declining from an earlier high of 92.346. The index retreated from levels near 93.00 in the previous week.
The profit dip has however trimmed the bank’s earnings per share to Kes.11.13 from Kes.16.15 last year.
The firm is expected to transform NBV into a manufacturer of cement and other industrial products switching it from a leather products retail chain.
The slow recruitment process has however been evident at the capital markets regulator with Paul Muthaura having also served first as CEO on a lengthy interim capacity.
The S&P 500 posted seven new 52-week highs and no new lows; the Nasdaq Composite recorded 87 new highs and 10 new lows.
At the end of today’s trading session on the Nairobi Securities Exchange (NSE). A total of 13,459,900 shares in 715 deals, corresponding to a market value of KES 435,396,249.00, were traded. Compared with the previous NSE trading day (Wednesday, November 18), today’s data shows 103% improvement in volume, 107% improvement in turnover, but 1% decline in deals. The current NSE market capitalization is KES 2.14 trillion. In the aggregate, 44 NSE listed securities participated in...
Earnings UpdateCo-operative Bank Q3 Net Profit Down 10 Percent on Increased Loan Loss Provision
433 min
Cooperative Bank booked a 905 increase in loan loss provision from Kes. 2.1 billion in 2019 to Kes. 4 billion.
The Japanese yen traded near flat at 103.86 against the greenback while the Australian dollar changed hands at $0.7292, dropping from earlier levels around $0.73.
ABSA has painted a level of uncertainty in its outlook relating to the COVID-19 pandemic where it has highlighted that it is high and unprecedented, and its impact on markets and the global economy is profound.
The lobby group also proposes that millers and marketing agents shall be appointed by members of a coffee factory during an annual general meeting held before the start of the coffee crop year.
Global MarketsWall Street Ends Sharply Lower as Covid-19 shutdown Sentiments Outweigh Vaccine
254 min
The S&P 500 posted 30 new 52-week highs and no new lows; the Nasdaq Composite recorded 142 new highs and nine new lows.
The derivatives market of the Nairobi Securities Exchange had no contracts concluded in today’s trading session.
The Japanese yen strengthened further in the afternoon, last trading at 103.85 per dollar, as compared to levels above 104.5 earlier. The Australian dollar was at $0.7308 against the dollar, firming from earlier levels.
That said, another valid reason we believe the flagship crypto valuation might certainly rise is the high global quantitative easing program which will in a matter of time propel Bitcoin prices.
Budget deficit in the three months that ended in September grew to Kes. 131.7 billion compared to Kes. 123.5 billion during the same period in 2019, a 6.7% year-on-year increase.
Amazon.com Inc launched an online pharmacy in the United States, sending shares of rival drug retailers such as Walgreens Boots Alliance Inc CVS Health Corp plunging.
The derivatives market of the Nairobi Securities Exchange had no contracts concluded in today’s trading session.
In October, news surfaced that Airbnb would list its shares on the Nasdaq, likely making it that market’s largest listing since Facebook's $16 billion IPO in 2012, according to a published report.
Morning BriefAsia-Pacific Stocks Mixed as Moderna’s Vaccine News Sends Airline Stocks Soaring
215 min
The Japanese yen traded at 104.52 against the greenback, a touch firmer as compared to Monday. The Australian dollar was at 0.7303 against the dollar, strengthening from the 0.72 mark yesterday.
Simon Property Group Inc shares jumped after the biggest U.S. mall operator cut its purchase price for an 80% stake of rival Taubman Centers Inc , as the pandemic pressures the retailers.
The derivatives market of the Nairobi Securities Exchange had no contracts concluded in today's trading sessio
Other firms suspended at the exchange for a variety of reasons, include Deacons, Athi River Mining, Kenya Airways, National Bank of Kenya and Mumias Sugar Company.
Hong Kong’s Hang Seng index rose 0.58% in the afternoon. Casino and finance stocks listed in the city were going strong. Standard Chartered was up 4.80%, while HSBC bounced 3.49%.
An Etihad spokesperson said as the airline continues 'to focus on recovery and rebuilding its global network, it will continue to rely on the efficiencies and advantages of its twin engine, wide-body aircraft.
The drop in fuel costs is expected to ease rising consumer costs which surged last month owing largely to previous fuel cost increases.
KTDA-managed factories continue to work on improving operational efficiencies to reduce production costs through a number of initiatives.
The Derivatives Market of the Nairobi Securities Exchange closed the week higher, with a total of 20 contracts valued at Kes.655,000 concluded as compared to the 17 contracts valued at Kes.534,000 concluded in the previous week.
In what surely qualifies as some of the more encouraging news of the year, the announcement that a Pfizer vaccine showed promising trial results powered markets higher last week.
Libyan output rose and investors worried the resurgent pandemic could hurt global demand.
The derivatives market of the Nairobi Securities Exchange had 5 Safaricom single stock future's contract valued at Kes 150,000 concluded during Friday's trading session.
Morning BriefAsian Markets Mixed; Tencent Shares in Hong Kong Rise on 80% Jump on Quarterly Earnings
143 min
The U.S. dollar index, which tracks the greenback against a basket of its peers, was last at 92.914 following its rise this week from levels below 92.8.
Business NewsPresident Kenyatta asks Parliament to FastTrack Aviation Bill in Bid to Rescue Kenya Airways
252 min
It reported a Sh8.56 billion half-year loss for the period ended June 30,2019, double the Sh4.03 billion posted in a similar period previous year.
Equity’s asset base has expanded to Kes.933.9 billion with loans and advances to customers climbing by 30 per cent to Kes.453.9 billion.
Global MarketsWall Street Ends Sharply Lower as Global Covid-19 Infections Surge Scares Markets
195 min
Crude oil prices reversed early gains, snapping a three-day rally on growing doubts over a near-term demand recovery and an unexpected rise in U.S. stockpiles.
The derivatives market of the NSE posted an decline in activity with 3 contracts valued at Kes 94,800 concluded. This was against the 11 contract valued at Kes 375,720 transacted in the previous trading session.
In Japan, Softbank Group shares jumped 1.49%. Game maker Nintendo also surged 4.3%. Over in South Korea, Kakao’s stock gained 0.56%.
Earnings UpdateKCB Group Posts 43% Decline in Net Earnings for 3rd Quarter at Kes 10.9 Billion
624 min
Shareholders’ equity grew 12% from KShs. 121.2 billion to KShs. 135.9.1 billion. This was driven by the growth in earnings over the 12-month period to September 2020.
Gold prices slid, hurt by a stronger dollar and increased risk appetite which drew investors away from the safe-haven metal
The derivatives market of the NSE posted an exponential rise in activity with 11 contracts valued at Kes 375,720 concluded. This was against the 1 contract valued at Kes 34,570 transacted in the previous trading session.
According to Statista, airlines worldwide have received government aid amounting to $161.9 billion as of September 2020.
Best solutions stand a chance to walk away with between Kshs. 1 million and Kshs. 4 million in the final slated for 17th November.
Oil prices were higher in the afternoon of Asia trading hours, with international benchmark Brent crude futures up 2.45% to $44.68 per barrel. U.S. crude futures added 2.59% to $42.43 per barrel.
Global MarketsU.S Markets Trade Lower as Investors Trade on Positive Coronavirus Vaccine News.
236 min
Gold regained some ground lost in Monday's plunge expectations of fiscal and monetary stimulus offered support to the safe-haven metal.
The bonds market posted a decline in turnover during today’s trading session, with bonds worth Kes 1.53 billion transacted in 37 deals against the 1.18 billion worth of bonds transacted in the Friday’s trading session.
Morning BriefAsian Markets Soar; Led by Airline Stocks as Investors React to Positive News on Coronavirus Vaccine
315 min
The Japanese yen traded at 105 per dollar after weakening sharply from levels below 104.3 against the greenback yesterday. The Australian dollar changed hands at $0.7288 following its rise last week from levels below $0.72.
Pfizer shares closed sharply higher after soaring as much as 15.4% during the session. But another drugmaker Biogen Inc slumped as a panel of experts to the U.S. health regulator voted against the drugmaker's experimental Alzheimer's treatment
At the end of the first weekday of trading on the Nairobi Securities Exchange (NSE). A total of 5,429,800 shares in 663 deals, corresponding to a market value of KES 94,408,483.00, were traded. Compared with the previous NSE trading day (Friday, November 6), today’s data shows 65% decline in volume and 75% decline in turnover. The current NSE market capitalization is KES 2.1 trillion. In the aggregate, 40 NSE listed securities participated in trading, ending...
Former U.S. vice president Biden won following his projected win in the states of Pennsylvania as well as Nevada, according to NBC News projections on Saturday. Still, Trump is refusing to concede the election, claiming it’s “far from over.”
Ndegwa indicates the company remains in discussion with the Central Bank of Kenya (CBK) on the review of free cash transfers below Kes.1000 beyond December 312.
Secondary trading on the bond Market saw a decline in activity with bonds worth Kes.7.5Bn traded compared to Kes.12Bn registered the previous week.
Stocks in Brazil, as measured by the Bovespa Index, returned about 7.4%.
US stocks hovered near unchanged on Friday to close out with a big weekly gain as Democratic challenger Joe Biden edged closer to victory in the presidential election, while the monthly jobs report underscored the hurdles still facing the economy. Biden built on narrow leads in Pennsylvania and Georgia, putting him on the verge of winning the White House, although President Donald Trump has filed lawsuits in battleground states to contest the results. Both the...
At the end of the last weekday of trading on the Nairobi Securities Exchange (NSE) this week. a total of 15,298,200 shares in 660 deals, corresponding to a market value of KES 373,867,078.00, were traded. Compared with the previous NSE trading day (Thursday, November 5), today’s data shows 57% decline in volume, 66% decline in turnover, and 9% decline in deals. The current NSE market capitalization is KES 2.12 trillion. In the aggregate, 41 NSE...
Earlier this month BOM proposed investing more than half of the country's estimated lifetime revenue of $96 billion from the LNG field in a sovereign wealth fund that would be controlled by the government but managed by the central bank.
The Japanese yen traded at 103.46 per dollar, having strengthened from levels above 104.4 against the greenback this week.
EBKL is a subsidiary of Equity Group Holdings Plc and holds the lion share of the Group’s business contributing to over 80% of the profitability.
The tech-heavy Nasdaq, packed with "stay-at-home" corporate winners under this year's was within striking distance of its Sept. 2 record closing high.
The bonds market posted a decline in turnover during today’s trading session, with bonds worth Kes 1.26 billion transacted in 41 deals against the 1.19 billion worth of bonds transacted in the previous trading session.
Corporate NewsSafaricom Rolls Out New Phone Number Prefixes as Telco Giant Seeks 4 Million More Customers
663 min
Other Safaricom prefixes include 070X, 071X, 072X, 0740-43, 0745-46, 0748, 0757-59, 0768-69 and 079X.
Oil prices were lower in the afternoon of Asian trading hours, with international benchmark Brent crude futures down 1.7% to $40.53 per barrel. U.S. crude futures also slipped 1.71% to $38.48 per barrel.
Until his appointment, Gen. Mwathethe was heading the Oceans and Blue Economy Office.
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