Market activity on the Nairobi Securities exchange (NSE) eased during the week as investors cautiously traded on volatility of global markets and increasing data of the new strain of the coronavirus. Foreign investors held majority position in trading this week, accounting for 68.4% of the week’s total trading activity. Foreign activity was high on the main blue-chip counters. Total Market Volume for the week stood at 88.28 million shares against a volume of 79.80 million...
Global Markets logged one of the largest weekly loss in three months last week as volatile trading in certain pockets of the market continued, raising concerns about speculative excesses.
East African Breweries Limited (EABL) recorded a 3% decline in net sales to Kes 44.5 billion for the half-year ended December 2020 compared to the same period in 2019. This, however, was a 53% improvement from the previous half-year period, January to June that was significantly impacted by Covid-19 restrictions. However, the pandemic still affected EABL’s business performance with the group recording a 47% decline in profit after tax from kes 6.7 billion in 2019 to...
Carbacid Investments Plc’s (CIL) shareholders have approved the acquisition of up to 100 percent of the shareholding of BOC Kenya Plc (BOC) pursuant to the offer that was announced in November 2020. The proposal was voted upon and approved at Carbacid’s 49th annual general meeting of the shareholders. On 25th November 2020, CIL and Aksaya Investment LLP as Co-Offerors notified BOC of their intention to make a joint takeover offer to acquire up to 100...
An army of retail investors returned to Wallstreet to trade shares in GameStop Corp and Koss Corp. The stocks sky-rocketed after brokers including Robinhood eased some of the restrictions they had placed on trading.
At the end of the last weekday of trading on the Nairobi Securities Exchange (NSE) A total of 22,835,200 shares in 955 deals, corresponding to a market value of KES 614,707,101.00, were traded. Compared with the previous NSE trading day (Thursday, January 28), today’s data shows 14% improvement in volume, 77% improvement in turnover, and 11% improvement in deals. The current NSE market capitalization is KES 2.34 trillion. In the aggregate, 44 NSE listed equities...
The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 90.732 after rising from levels below 90.3 earlier in the week in Asia.
Oil prices were steady on Friday, sticking to ranges seen over the past three weeks, as investors looked for signs of changing supply and demand fundamentals. A cut in Saudi Arabia’s oil supply and lower U.S. oil stocks helped offset price pressures from fuel demand, which is slowing due to stalled vaccine rollouts and contagious new coronavirus strains. “We’re waiting for the next shoe to drop in the oil market. We really don’t have much to move...
Listed power producer, Kengen Plc, has reported net revenue amounting to Kes. 39.82 million for the financial period ended 30th June 2020, which is 11.3% higher than the Kes.35.7 million recorded during the same period in 2019. KenGen attributed the increase to the reduction in fuel revenue associated with thermal plants, which registered a 58.9% decline due to thermal displacement by geothermal power generation. The company also recorded a 16.8% increase in the earnings before...
Heavyweights, including Microsoft Corp, Amazon.com and Alphabet Inc, were among the biggest boosts to the S&P 500, a day after the three major U.S. indexes suffered their biggest daily percentage drop in three months.
The Central Bank of Kenya (CBK) Monetary Policy Committee (MPC) on Wednesday kept the benchmark rate unchanged at 7% in its sixth consecutive sitting amid concerns of slight rise in the cost of basic food items and services in coming months as a result of tax measures introduced on 1st January 2021. While signaling rebound in economic growth this year after a 0.6% contraction last year due to COVID-19, MPC says the rate retention stems...
At the end of today’s trading session on the Nairobi Securities Exchange (NSE). A total of 20,004,100 shares in 860 deals, corresponding to a market value of KES 347,242,820.00, were traded. Compared with the previous NSE trading day (Wednesday, January 27), today’s data shows 15% decline in volume, 56% decline in turnover, and 9% decline in deals. The current NSE market capitalization is KES 2.36 trillion. In the aggregate, 44 NSE listed equities participated in...
Shares in Asia-Pacific fell on Thursday following an overnight plunge on Wall Street that wiped out the S&P 500′s 2021 gains and left it in negative territory for the year. Mainland Chinese stocks dropped on the day, with the Shanghai composite down 1.91% to 3,505.18 while the Shenzhen component declined 3.248% to about 14,913.21. Hong Kong’s Hang Seng index shed 2.55% to close at 28,550.77. Shares of airline Cathay Pacific plummeted 9.71% after the firm said Thursday it would...
Safaricom has launched an M-PESA Bill Management service that offers a platform where businesses can present and receive pending payments from customers, and issue electronic receipts. For M-PESA customers, the service provides a single point where they can view all their bills, receive reminders, and automate bills. A report issued by the telecommunication company said they are mainly targeting schools, landlords, utilities, and other businesses. For schools, the Bill Manager platform will enable management to customise the...
Oil prices slid in early trade on Thursday on fresh worries about weakened fuel demand, after England clamped down on travel and China, the world’s second-largest oil consumer, also sought to limit Lunar New Year trips to stem a surge in Covid-19 cases. U.S. West Texas Intermediate (WTI) crude futures fell 12 cents, or 0.1%, to $52.72 a barrel at 0228 GMT, erasing some of Wednesday’s gain. Brent crude futures fell 16 cents, or 0.3%, to $55.65 a...
Volume on U.S. exchanges was 23.42 billion shares, well above the 14.31 billion average for the full session over the last 20 trading days.
At the end of today’s trading session on the Nairobi Securities Exchange (NSE). A total of 23,506,400 shares in 944 deals, corresponding to a market value of KES 796,751,520.00, were traded. Compared with the previous NSE trading day (Tuesday, January 26), today’s data shows 306% improvement in volume, 314% improvement in turnover, and 18% improvement in deals. The current NSE market capitalization is KES 2.36 trillion. In the aggregate, 40 NSE listed equities participated in...
In a report issued by the United Nations Conference on Trade and Development (UNCTAD), Egypt has been ranked to be the highest foreign direct investment recipient (FDI) in Africa. Egypt is reported to have received $5.5 billion in foreign direct investment in 2020, a 39% decline from the $7.6 billion received in 2019. Nigeria came in second having received $ 2.6 billion in 2020 a 27% decline from $3.3 billion that was acquired in 2019. Nigeria attributed...
The Nikkei 225 in Japan rose 0.31% to close at 28,635.21 while the Topix index gained 0.65% to finish its trading day at 1,860.07. South Korea’s Kospi closed 0.57% lower at 3,122.56.
Centum Investment Company has sold 20% of its shares with a current market value of Kes 92.2 million, to billionaire investor Chris Kirubi, raising his stake in the Nairobi Securities Exchange listed firm by 20%. Earlier last year, Chris Kirubi presented his interest in acquiring 49.99% of the Investment company. An addition from the 30 % he held at the time. Later on, he received Capital Markets Authority approval to progressively raise his shareholding in...
Oil prices climbed on Wednesday after industry data showed U.S. crude stockpiles fell unexpectedly last week and China, the world’s second-biggest oil user, reported its lowest daily rise in Covid-19 cases, bolstering hopes of a pick-up in demand. Brent crude futures climbed 19 cents, or 0.3%, to $56.10 a barrel at 0452 GMT, adding to a small gain on Tuesday. U.S. West Texas Intermediate (WTI) crude futures rose 20 cents, or 0.4%, to $52.81 a barrel, reversing Tuesday’s...
Dow Jones Industrial Average fell 22.96 points, or 0.07%, to 30,937.04, the S&P 500 lost 5.74 points, or 0.15%, to 3,849.62 and the Nasdaq Composite dropped 9.93 points, or 0.07%, to 13,626.07.
At the end of today’s trading session on the Nairobi Securities Exchange (NSE) A total of 5,783,100 shares in 799 deals, corresponding to a market value of KES 192,643,819.00, were traded. Compared with the previous NSE trading day (Monday, January 25), today’s data shows 64% decline in volume, 66% decline in turnover, and 21% decline in deals. The current NSE market capitalization is KES 2.37 trillion. In the aggregate, 44 NSE listed equities participated in...
Stocks in Asia declined in Tuesday trade, with Chinese stocks leading losses among the region’s major markets. The Hang Seng index in Hong Kong dropped 2.55% to close at 29,391.26. Hong Kong-listed shares of Chinese tech giant Tencent plunged 6.26%, while Meituan also saw heavy losses as it fell 5.3%. Mainland Chinese stocks were lower on the day, with the Shanghai composite down 1.51% to 3,569.43 while the Shenzhen component fell 2.277% to 15,352.42. South Korea’s Kospi closed 2.14% lower at...
Kenya’s economy is projected to recover and grow by 6.4% in 2021. In a draft of the 2021 budget policy Statement by the treasury, they noted that the economy had been adversely affected by the worldwide pandemic Covid-19, resulting in the economy contracting. In 2020, the Kenyan economy was adversely affected by the outbreak of Covid-19 Pandemic and the swift containment measures, which have not only disrupted the normal lives and livelihoods but also to a greater...
Oil prices eased on Tuesday, giving up some of the previous session’s gains, as hopes for rapid approval of new U.S. economic stimulus faded while new coronavirus infections around the world mount up. Brent crude was down 15 cents at $55.73 by 0135 GMT, having risen nearly 1% on Monday. U.S. crude was also lower, dropping 5 cents to $52.72, after declining 1% in the previous session. Have recently hit 11-month highs, oil is caught between lingering doubts over any...
Earlier on Monday, drugmaker Merck & Co said it would stop development of its two COVID-19 vaccines. Its shares managed to shrug off early losses and ended the session up 0.21%.
According to a United Nations Conference on Trade and Development report released on Sunday, China has overtaken the U.S. as the world’s top destination for new foreign direct investment. Foreign direct investment in the United States dropped by 49% in 2020 while investment in China rose 4%, making China the largest recipient of foreign inflows for the first time. China received $163 billion in inflows last year, making it obtain top position while the U.S....
At the end of the first weekday of trading on the Nairobi Securities Exchange (NSE) A total of 16,144,800 shares in 1,016 deals, corresponding to a market value of KES 567,617,839.00, were traded. Compared with the previous NSE trading day (Friday, January 22), today’s data shows 59% improvement in volume, 68% improvement in turnover, and 29% improvement in deals. The current NSE market capitalization is KES 2.37 trillion. In the aggregate, 48 NSE listed equities...
In the afternoon of Asia - Pacific trading hours, the international benchmark Brent crude futures up 0.47% at $55.67 per barrel. U.S. crude futures gained 0.55% to $52.56 per barrel.
On Monday, President Joe Biden expected to sign an executive order to impose a ban on most non-U.S. citizens entering the country who have recently been in South Africa in a bid to contain the spread of a new variant of COVID-19. President Joe Biden will also reimpose an entry ban on nearly all non-U.S. travelers who have been in Brazil, the United Kingdom, Ireland and 26 countries in Europe that allow travel across open borders....
Oil prices slipped for a second straight session on Monday as renewed Covid-19 lockdowns raised fresh concerns about global fuel demand.
The Derivative Market of the Nairobi Securities Exchange closed the week with a total of 58 contracts valued at Kes.2.6 million transacted, this was a decline in transaction value from the 64 contracts valued at Kes.1.9 million posted in the preceding week.
Global markets finished the week slightly off record highs, as investors continue to balance positive news with near-term challenges. In focus is the $1.9 trillion fiscal-stimulus proposal from the Biden administration
Entrepreneurs have been advised to take advantage of the government’s move to automate most of its services and come up with appropriate innovations.
Kenya Airways PLC has temporarily suspended its services to France and the Netherlands due to the COVID-19 regulations in Europe that have reduced demand. In a statement issued by KQ, they said they have temporarily suspended their services to France the Charles de Gaulle Airport through the month February 2021. however, they remain hopeful that they will resume operations to France on 3rd March and 7th March to the Netherlands. However, the national courier thanked...
President Joe Biden said on Friday the U.S. economic crisis was deepening and that the government needs to take major action now to help struggling Americans.
BOC Kenya Plc a leading supplier of industrial, medical and special gases in East Africa, has been granted approval by the Capital Market Authority to issue their shareholders with the Takeover offer Document and the Offeree Circular by Friday 5th February, 2021, an extension from the proposed Monday 25th January, 2021. BOC gases was served with the Takeover Offer Document from Carbacid Investment Plc and Aksaya Investments LLP on Wednesday, 6 January, 2021 and requested...
During today's trading session, the derivatives market of the NSE posted a decline in activity with 14 contracts concluded valued at Kes 504,000 as compared to the 21 contracts valued at Kes 504,000 achieved in the previous trading session.
In Japan, the Nikkei 225 slipped 0.44% to close at 28,631.45 while the Topix index shed 0.21% to finish its trading day at 1,856.64. South Korea’s Kospi declined 0.64% to close at 3,140.63.
The African Export-Import Bank has mobilised $1 billion for an adjustment facility to offset revenue losses for countries that lower cross-border tariffs as part of an Africa-wide free trade area. We will be able to go to global capital markets and we will be able to go to development finance institutions to mobilise more resources, but at the moment, it is a fund of a facility of $1 billion,” said Wamkele Mene,the secretary general...
U.S. West Texas Intermediate (WTI) crude futures dropped 53 cents, or 1%, to $52.60 a barrel at 0445 GMT, after slipping 18 cents on Thursday.
The NSE is looking to scale up activity, partly by increasing shares available for trade. The exchange is in talks with the National Treasury to sell additional stakes in listed state-owned companies, with a view to raising as much as kes 300 billion.
Ford Motor Co jumped 6.17% extending gains for a second straight day after Deutsche Bank raised its price target on the U.S. automaker’s stock.
In December, Larry Fink the firm's Chief Executive Officer noted that the world's most popular cryptocurrency was seeing giant moves on a daily basis and could possibly unfold into a global market.
The derivatives market of the NSE posted a rise in activity with 21 contracts concluded valued at Kes 754,750 as compared to the 13 contracts valued at Kes 472,050 achieved in the previous trading session.
Shares in major Asia-Pacific markets rose on Thursday after stocks on Wall Street sailed to record highs as U.S. President Joe Biden was sworn into office.
The administration is also committed to ending new oil and gas leasing on federal lands, Biden’s press secretary said, although Biden has not laid out a timeline for achieving that goal.
Saudi Arabia hence became the top supplier to China for a second year in a row, after taking the spotlight from Russia in 2019 where It significantly raised its crude sales to the world’s largest oil importer
The group reported a non performing loan of kes 11.2 billion in the last quarter of 2020 , which had improved from kes 12.6 billion during the same period in 2019, however, it is still exposed to high defaults and Non-performing loans.
Kenya's total debt jumped to 65.6% of gross domestic product in June 2020 from 62.4% a year earlier, the World Bank said in November.
The S&P 500 posted 54 new 52-week highs and no new lows; the Nasdaq Composite recorded 336 new highs and four new lows.
At the end of today’s trading session on the Nairobi Securities Exchange (NSE) A total of 23,956,000 shares in 1,020 deals, corresponding to a market value of KES 864,895,938.00, were traded. Compared with the previous NSE trading day (Tuesday, January 19), today’s data shows 29% improvement in volume, 66% improvement in turnover, and 8% improvement in deals. The current NSE market capitalization is KES 2.34 trillion. In the aggregate, 39 NSE listed equities participated in...
Stocks in major Asia-Pacific markets were mostly higher on Wednesday, with Hong Kong-listed shares of Chinese tech juggernaut Alibaba surging following the reappearance of founder Jack Ma. Shares of Alibaba listed in the city surged 8.52% after Ma appeared in a video posted on Chinese social media addressing rural teachers as part of one of his charity foundation’s initiatives. It was his first appearance following weeks out of the spotlight as his companies face increased regulatory scrutiny. Shares...
Nigeria’s biggest bank Access Bank Plc, has identified eight African Countries for potential expansion so as to benefit from the African free trade pact. The African trade pact aims to improve trade within African countries by lowering or eliminating cross-border tariffs, facilitating the movement of capital and people, promoting investment and paving the way for the establishment of a continental-wide customs union. Speaking to an investor call on Tuesday, Herbert Wigwe, Access Bank Chief Executive...
Six analysts polled by Reuters estimated, on average, that crude stocks fell by 300,000 barrels in the week to Jan. 15, but expect gasoline stockpiles rose by 3.0 million barrels. Distillate inventories, which include diesel, heating oil and jet fuel, were seen up by 800,000 bbl.
The S&P 500 posted 37 new 52-week highs and no new lows; the Nasdaq Composite recorded 296 new highs and nine new lows.
The derivatives market of the NSE posted a rise in activity, with 2 contracts concluded valued at Kes 669,000 as compared to the 8 contracts valued at Kes 295,200 achieved in the previous trading session.
South Korea’s Kospi led gains among the region’s major markets, rising 2.61% to close at 3,092.66 as shares of automaker Hyundai Motor surged 8.51%.
The Co-operative Bank of Kenya has secured a long-term financing facility arranged by the International Finance Corporation (IFC) amounting to Kes 8.25 Billion. The bank has stated that the loan is coming in as Tier II Supplementary Capital and will be repaid within a seven years period. In a report issued by Dr. Gideon Muriuki the Co-op Bank CEO, he stated that the loan will allow Co-operative bank to aid customers working in Micro, Small...
Kenya has recorded a 10.7 % rise in remittances from US$2,796 million in 2019 to a record high of US$3,094 million in 2020.
Biden’s pick for Treasury Secretary, Janet Yellen, is expected to rule out seeking a weaker dollar when testifying on Tuesday, the Wall Street Journal reported.
The report further stated that the general insurance business remained the largest contributor to the industry insurance premium.
The derivatives market of the NSE posted a moderate decline in activities, with 8 contracts concluded valued at Kes 295,200 as compared to the 12 contracts valued at Kes 445,000 achieved in the previous trading session.
Mainland Chinese stocks were higher on the day, with the Shanghai composite up 0.84% to 3,596.22 while the Shenzhen component advanced 1.58% to 15,269.27. The Hang Seng index in Hong Kong rose 0.87%, as of its final hour of trading.
“The Relative Strength Indexes (RSI’s) on both contracts were in overbought territory, indicating a correction was on its way,” said Jeffrey Halley, senior market analyst at OANDA.
Turkish stocks, as measured by the BIST-100 Index, returned about -1.0%. T. Rowe Price sovereign analyst Peter Botoucharov has been reviewing the latest macroeconomic data from Turkey and notes that the country’s external account situation remains weak.
The Dow Jones Industrial Average fell 177.26 points, or 0.57%, to 30,814.26, the S&P 500 lost 27.29 points, or 0.72%, to 3,768.25 and the Nasdaq Composite dropped 114.14 points, or 0.87%, to 12,998.50.
The derivatives market of the NSE posted an exponential growth in activities, with 64 contracts concluded valued at Kes 1.93 million
The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 90.409 following an earlier low of 90.223
“China, the global engine of oil demand growth, is wrestling with fresh COVID outbreaks,” it said.
Investors were waiting for the earnings season to kick into full swing with results from JPMorgan, Citigroup and Wells Fargo slated for Friday.
The derivatives market of the NSE posted an exponential growth in activities, with 30 contracts valued at Kes 851,925 concluded
China’s exports rose 18.1% in December as compared with a year earlier, according to customs data released Thursday.
A hefty COVID-19 relief package, which U.S. President-elect Joe Biden is due to unveil on Thursday, also kept losses in check.
Earnings reports from big U.S. banks including JPMorgan and Citigroup were also on investors minds as they will mark the unofficial start to the fourth-quarter earnings season on Friday.
The derivatives market of the Nairobi Securities Exchange had 7 single stock futures contracts valued at Kes 199,140 concluded.
The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 89.90 following an earlier high of 90.037
Prices are shrugging off the latest developments in Europe and the United States where death tolls and new infections keep rising
The S&P 500 posted 87 new 52-week highs and no new lows; the Nasdaq Composite recorded 307 new highs and four new lows
The derivatives market of the Nairobi Securities Exchange had 5 single stock futures contracts valued at Kes 182,000 concluded
MSCI’s broadest index of Asia-Pacific shares outside Japan advanced 0.26%.
Declining issues outnumbered advancing ones on the NYSE by a 1.53-to-1 ratio; on Nasdaq, a 1.17-to-1 ratio favored decliners
The secondary bond market of the Nairobi Securities Exchange posted a decline in activity during Monday’s trading session with bonds worth Kes 2.04 billion
Oil prices were lower in the afternoon of Asia trading hours, with international benchmark Brent crude futures down 1.3% to $55.26 per barrel. U.S. crude futures dipped 0.86% to $51.79 per barrel.
Mexican stocks, as measured by the IPC Index, returned about 6%. Shares were lifted in part by strength in U.S. equities, as Joe Biden—who is expected to be less aggressive on trade and immigration issues than President Trump—was certified by Congress as the winner of the November 2020 presidential election
Electric car-maker Tesla Inc jumped 7.8%, taking its market capitalization to more than $800 billion for the first time ever. Tesla was the largest percentage gainer on the S&P.
The derivatives market of the Nairobi Securities Exchange had 4 single stock futures contracts valued at Kes 38,800 transacted. This was a decline in transaction value and deals as compared to the Kes 364,870 concluded in the previous trading session.
Russia and Kazakhstan will collectively increase their output by 75,000 bpd while the rest of the group will hold output steady.
The Japanese yen traded at 103.93 per dollar after weakening from levels below 103.2 against the greenback yesterday. The Australian dollar changed hands at $0.7762, having seen levels above $0.78 earlier this week.
Advancing issues outnumbered declining ones on the NYSE by a 1.72-to-1 ratio; on Nasdaq, a 2.88-to-1 ratio favored advancers.
The derivatives market of the Nairobi Securities Exchange had 10 single stock futures contracts valued at Kes 364,870 transacted.
Mainland Chinese stocks saw gains on the day, with the Shanghai composite up 0.71% to 3,576.20 and the Shenzhen component rising 1.111% to 15,356.40. Hong Kong’s Hang Seng index lagged the region’s major markets as it dipped 0.52% to close at 27,548.52.
Overall, the global economy is expected to expand 4% in 2021, assuming an initial COVID-19 vaccine rollout becomes widespread throughout the year.
Shares in Canadian marijuana producer Tilray soared more than 24 percent before closing up 13 percent to $10.77. In after markets trading it soared another 8 percent.
The derivatives market of the Nairobi Securities Exchange had 5 single stock futures contracts valued at Kes 75,920 transacted
Markets across Asia-Pacific were mixed on Wednesday, as developments turned the focus on Chinese tech giants and regional energy stocks. Shares of Chinese tech giants Tencent and Alibaba were monitored by investors on Wednesday after U.S. President Donald Trump signed an executive order banning transactions with eight Chinese software applications. That included WeChat Pay and Ant Group’s Alipay. The order is only set to go into effect after Trump leaves office. Shares of Tencent and Alibaba in Hong Kong on Wednesday...
Meanwhile U.S. crude oil inventories dropped by 1.7 million barrels in the week to Jan. 1 to 491.3 million barrels, data from industry group the American Petroleum Institute showed late on Tuesday.
The S&P 500 posted 19 new 52-week highs and no new lows; the Nasdaq Composite recorded 117 new highs and four new lows.
The derivatives market of the Nairobi Securities Exchange had 5 East African Breweries Plc single stock futures contracts valued at Kes 77,980 transacted. This was lower in transaction value as compared to the Kes 190,750 concluded in the previous trading session.
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