Home2021April 2021 - The Trading Room

Market Report; 30 April, 2021

At the end of the last weekday of trading on the Nairobi Securities Exchange this week. A total of 13,379,900 shares in 950 deals, corresponding to a market value of KES 465,326,363.00, were traded. Compared with the previous NSE trading day (Thursday, April 29), today’s data shows 12% decline in volume, 14% decline in turnover, and 8% decline in deals. The current Nairobi Securities Exchange market capitalization is KES 2.55 trillion. In the aggregate, 49...

Tanzania Calls for Resumption of Negotiations of $30 Billion LNG Project

Tanzania is looking forward to signing for a $30 billion Liquefied Natural Gas (LNG)  project within six months after the country’s president Samia Suluhu Hassan called for a resumption of negotiations that had stalled for more than a year. The Liquefied Natural Gas (LNG) project is expected to add another 2% points to the annual economic growth of around 7%. It will also have the capacity to produce 10 million tonnes of liquefied natural gas...

Asian Markets Edge Lower, Amidst Uncertainty on Global Economic Recovery

Asia-Pacific markets struggled for gains Friday as investors turned cautious, despite a positive finish stateside in the previous session. Australia’s ASX 200 fell 0.7% as all sectors turned red. Energy and materials were down 1.4% and 0.92%, respectively, while the heavily-weighted financials subindex lost 0.46%. The Japanese market returned to trade after being closed Thursday for a holiday. The benchmark Nikkei 225 was down 0.43%, while the Topix index traded near flat. In South Korea, the Kospi...

Standard Group Records a Loss of Kes 434 Million for FY2020

Standard Group Plc Posted a loss before tax of Kes 434 million during the financial period ended 31st December 2020, a 36% improvement from the Kes 684 million posted during the same period in 2019. The group attributed the results to the economic hardship brought about by the onset of the COVID-19 pandemic, which resulted in the government enforcing lockdowns and curfews to contain the spread of the coronavirus. The media industry was adversely affected...

Oil Prices Slip From a Six Week High, Rising Cases of COVID-19 Outweighs Demand Outlook

Oil prices slipped on Friday after touching their highest in six weeks as concerns of wider lockdowns in India and Brazil to curb the COVID-19 pandemic offset a bullish outlook on summer fuel demand and economic recovery. Brent crude fell 26 cents, or 0.4 per cent, to $68.30 a barrel by 0041 GMT, the last day’s trading for the front-month June contract. U.S. West Texas Intermediate crude for June was at $64.73 a barrel, down...

Wall Street: Nasdaq, S&P 500 hit Record Highs on Tech Earnings Data

Wall Street’s S&P 500 and Nasdaq indexes hit record levels on Thursday after stellar earnings from Apple and Facebook powered a rally in tech stocks, while upbeat economic data supported bets of a swifter economic recovery. Apple Inc gained 1.0% on wall street after posting sales and profits ahead of Wall Street estimates, led by much stronger-than-expected iPhone and Mac sales. Facebook Inc jumped 6.6% to hit an all-time high on beating analysts’ expectations for...

Market Report; 29 April, 2021

At the end of today’s trading session on the Nairobi Securities Exchange A total of 15,202,300 shares in 1,033 deals, corresponding to a market value of KES 543,474,930.00, were traded. Compared with the previous NSE trading day (Wednesday, April 28), today’s data shows 2% decline in volume, 7% improvement in turnover, and 24% improvement in deals. The current NSE market capitalization is KES 2.55 trillion. In the aggregate, 45 NSE listed equities participated in trading,...

Asian Markets Gain, Fed Maintains Interest Rate Near Zero

Stocks in Asia-Pacific mostly rose in Thursday trade, as investors reacted to the U.S. Federal Reserve’s decision to keep its easy money policy in place. South Korea’s Kospi gained 0.23% in afternoon trade while the S&P/ASX 200 in Australia climbed 0.23%. Mainland Chinese stocks were mixed, with the Shanghai composite up 0.17% and the Shenzhen component declined by 0.12%. Hong Kong’s Hang Seng index rose 0.62%. MSCI’s broadest index of Asia-Pacific shares outside Japan gained 0.48%. Markets in Japan were closed on Thursday for...

Britam Records a Net Loss of Kes  9.1  Billion for FY2020

Britam Holdings Plc has reported a net loss of Kes 9.1 billion for the financial period ended 31st December 2020, a 62% loss compared to the Kes 3.5 billion that was reported during the same period in the previous year. The group attributed the loss to the poor returns from investments in its associate Housing Finance Group, which contributed to a share of loss at Kes 823 million and a reduction in the value of...

Oil prices Gain as Demand Outlook Grows Despite Rising COVID-19 Cases.

Oil prices extended gains on Thursday after rising 1% the previous session, as bullish forecasts on recovering demand this summer offset concerns of rising COVID-19 cases in India, Japan and Brazil. Brent crude for June edged up 8 cents, or 0.1%, to $67.35 a barrel by 0104 GMT. U.S. West Texas Intermediate crude for June was at $63.98 a barrel, up 12 cents, or 0.2%. OPEC, Russia and their allies, a group known as OPEC+,...

Market Report; 28 April, 2021

At the end of today’s trading session on the Nairobi Securities Exchange A total of 15,524,400 shares in 836 deals, corresponding to a market value of KES 509,974,469.00, were traded. Compared with the previous NSE trading day (Tuesday, April 27), today’s data shows 15% decline in volume, 3% decline in turnover, and 14% decline in deals. The current Nairobi Securities Exchange market capitalization is KES 2.53 trillion. In the aggregate, 45 NSE listed equities participated...

Kengen Set to Receive Kes 23 Billion Debt Payment from KPLC.

The government has stated it will ensure Kenya Power pays its debt to KenGen and other power producers. This comes after concerns were raised that the electricity distributor’s default could hurt the entire supply chain if it is not resolved in the near term. As of June 2020, Kenya power owed Kes 23.9 billion to the energy distributor, the largest claim yet. KPLC also owes independent power producers Kes 20.5 billion even though it was...

Asian Pacific Stocks Mixed Ahead of U.S Fed Meeting

Shares in Asia-Pacific were mixed on Wednesday; however, already-high valuations ahead of the U.S. Federal Reserve’s latest policy decision capped gains. In Japan, the Nikkei 225 rose by 0.21% to close at 29,053.97, while the Topix index gained a profit of 0.29% to finish its trading day at 1,909.06. Japan’s retail sales rose 5.2% in March as compared with a year ago, according to government data. That was higher than a median market forecast for...

Ether Jumps to all Time High of $2,700, Bitcoin Hits $55K Mark

Ethereum, the second-largest cryptocurrency by market capitalization, was up on Wednesday, trading around $2,589.10 as of 10.00 A.M  East African Time, a 1.4% rise following a more than 5% rally the previous day.   Ether rose Tuesday to a record high price near $2,700 after a powerful three-day rally.   The new high came after three straight daily gains totalling 19%. The move extended the cryptocurrency’s stunning rally this year. On Tuesday, Bloomberg reported that...

Oil prices Edge Lower Despite OPEC+ Decision to Stick to Production Plans

Oil prices edged lower on Wednesday with a rapid spread of COVID-19 infections in India, a bigger-than-expected build in U.S. crude stocks outweighing confidence shown by OPEC and its allies of a solid recovery in global fuel demand. Brent crude futures fell 26 cents, or 0.4%, to $66.16 a barrel at 0205 GMT, paring a 1.2% gain from Tuesday. U.S. West Texas Intermediate (WTI) crude futures fell 23 cents, or 0.4%, to $62.71 a barrel,...

Wall Street Mostly Flat as Tesla, 3M Results Fall Short of Expectations

Tepid results from Tesla and 3M weighed on Wall Street on Tuesday, with the S&P 500 and Dow ending near flat as investors focused on wave of earnings reports from Microsoft, Alphabet and other corporate heavyweights. Electric-car maker Tesla Inc dropped 4.5% after its quarterly results late on Monday fell short of some investors’ expectations, with its revenue beat largely supported by sales of environmental credits and selling bitcoin, rather than vehicle sales. In extended...

Market Report; 27 April, 2021

At the end of today’s trading session on the Nairobi Securities Exchange A total of 18,300,200 shares in 970 deals, corresponding to a market value of KES 528,012,681.00, were traded. Compared with the previous NSE trading day (Monday, April 26), today’s data shows 50% improvement in volume, 31% improvement in turnover, and 3% improvement in deals. The current Nairobi Securities Exchange market capitalization is KES 2.51 trillion. In the aggregate, 44 NSE listed equities participated...

Asian Pacific Stocks Edge Lower Amidst Concerns About the Pandemic

Shares in Asia-Pacific were lower in Tuesday trading as concerns about the pandemic continued to linger. In Japan, the Nikkei 225 shed 0.15% while the Topix index shed 0.44%.   The Bank of Japan on Tuesday announced its decision to keep monetary policy steady. The Japanese central bank also revised downward its forecast for core inflation in the fiscal year 2021 to 0.1% from the 0.5% projected in January. Multiple regions, including Tokyo and Osaka, were recently...

Oil Prices Edge Higher ahead of OPEC+ Meeting

Oil was up Tuesday morning in Asia, bouncing back from the previous session’s drops. However, investors remained concerned about fuel demand recovery as the number of COVID-19 cases in India, the world’s third-biggest crude importer, continues to increase. Brent crude was up 36 cents, or 0.6%, at $66.01 a barrel by 0334 GMT, after dropping 0.7% on Monday. While U.S. WTI gained 36 cents, or 0.6%, to $62.27, having declined by 0.4% the previous session...

Nasdaq, S&P 500 Rally as Investors Set for Tech Earnings

The S&P 500 and Nasdaq closed at record highs on Monday, fueled by Tesla Inc and other heavyweight growth stocks ahead of a deluge of earnings reports this week. The Nasdaq’s record high close confirmed the end of an 11% correction in the index that began after its previous record high close on Feb. 12, with the index closing at a low on March 8. In extended trade, Tesla dipped about 0.4% after the electric...

Market Report; 26 April, 2021

At the end of the first weekday of trading on the Nairobi Securities Exchange A total of 12,204,800 shares in 939 deals, corresponding to a market value of KES 402,037,402.00, were traded. Compared with the previous NSE trading day (Friday, April 23), today’s data shows 19% improvement in volume, 6% improvement in turnover, but 9% decline in deals. The current Nairobi Securities Exchange market capitalization is KES 2.5 trillion. In the aggregate, 47 NSE listed...

Bitcoin Climbs Above $52K , Valkyrie Digital Assets to Launch Bitcoin ETF

For the first time in six days, Bitcoin rose past $52,000 as bulls pushed prices higher in early Asia trading hours Monday. In a rally that appeared to start around 22:00 UTC (6 p.m. ET) on Sunday, bitcoin (BTC) bounced off a seven-week low around $47,655, subsequently printing some of its largest hourly gains in two days. The largest cryptocurrency is now exchanging hands at $52 792.14 as of 9.00 AM East African Time.  ...

Asian Stock Markets Hit Six Week High, Investors Watch Out For U.S GDP Data.

Asian stocks climbed to six-week highs on Monday amid signs the world economic recovery was still well on track, though rising COVID-19 cases in the region weighed on sentiment, pushing oil prices lower. In morning trade, the Nifty 50 in India jumped about 1.2%, while the BSE Sensex advanced 1.32%.   Elsewhere regionally, the Nikkei 225 in Japan gained 0.65%, while the Topix index rose 0.38%. South Korea’s Kospi advanced 0.76%. Mainland Chinese stocks also...

CBK to Supervise Digital Lenders Under New Bill

Digital mobile lenders will have six months to be licensed by the Central Bank of Kenya (CBK) if Parliament adopts a proposed law to see the regulator control their products, management, and sharing of borrowers’ information. The Bill tabled in Parliament by Gladys Wanga in her capacity as chair of the Committee on Finance, and National Planning said, “any person who before coming into force of this was in the business of offering credit facilities...

Oil Edges Lower on Concern of Rising COVID-19 Cases in India and Japan.

On Monday, oil prices fell on fears that surging COVID-19 cases in India will drive down fuel demand in the world’s third-biggest oil importer and as investors adjusted positions ahead of a planned increase in OPEC+ output from May. Brent crude futures dropped 38 cents, or 0.6%, to $65.73 a barrel by 0507 GMT, following a 1.1% rise on Friday. U.S. West Texas Intermediate (WTI) crude futures were down 31 cents, or 0.5%, at $61.83...

Market Report: 23 April, 2021

At the end of the last weekday of trading on the Nairobi Securities Exchange  A total of 10,296,000 shares in 1,030 deals, corresponding to a market value of KES 378,565,951.00, were traded. Compared with the previous NSE trading day (Thursday, April 22), today’s data shows 2% decline in volume, 4% improvement in turnover, and 9% improvement in deals. The current Nairobi Securities Exchange market capitalization is KES 2.5 trillion. In the aggregate, 46 NSE listed...

Asian Markets Mixed Amidst Rising U.S Taxes

Stocks in Asia-Pacific were mixed on Friday, with the price of bitcoin tumbling below $49,000. The Nikkei 225 in Japan fell 0.57% to close at 29,020.63, while the Topix index shed 0.39% to finish the trading day at 1,914.98. Earlier during the session, the Nikkei 225 had fallen more than 1%. South Korea’s Kospi closed 0.27% higher at 3,186.10. Mainland Chinese stocks nudged higher on the day, with the Shanghai composite rising 0.26% to 3,474.17 while the Shenzhen...

KQ Signs Deal With Congo Airways to Expand Reach

Kenya’s national carrier Kenya Airways Plc [KQ] and DR Congo national carrier have signed a partnership agreement. The partnership, which was signed on Thursday, will make it easier for the KQ customers to access Kinshasa directly from Nairobi and ply Africa and international routes jointly. The partnership agreement was signed by Kenya Airways Group CEO Allan Kilavuka and his Congo Airways counterpart Desire Balazire Bantu. Present during the signing ceremony were Foreign Affairs CS Raychelle...

Bitcoin Drops Below $50,000 Amidst Rising U.S Tax Worries, Ether Follows

Bitcoin has fallen beneath the $50,000 psychological support line hitting its lowest point in 48 days. Bitcoin (BTC) is currently exchanging hands at $49,254.83 as of 10.00 A.M East African Time, a 9% drop over the last 24 hours. “On-chain data suggests we’re still in a long-term bull market in the short-term, we might have a correction and going sideways in a broad range since the market is over-heated among retail investors.” Ki Young Ju,...

Oil Gains 0.3% as Demand Builds up in Europe

Oil prices rose on Friday on hopes of a fuel demand recovery in the United States and Europe as economic growth picks up and lockdowns ease, but worries about India’s raging second wave of COVID-19 cases kept a lid on gains. Brent crude futures rose 21 cents, or 0.3%, to $65.61 a barrel at 0137 GMT, after climbing 8 cents on Thursday. U.S. West Texas Intermediate (WTI) crude futures jumped 29 cents, or 0.5%, to $61.72...

Wall Street Ends Lower As Biden “Wealth” Tax Plans Re-emerge

Wall Street was mixed on Thursday on reports President Joe Biden planned to almost double the capital gains tax, news analysts said provided an excuse to take profits in a directionless market ahead of big tech’s earnings next week. The three main indices on Wall Street also fell on reports that Biden planned to raise income taxes on the wealthy, a proposal some said would be hard to pass in Congress. “If it had a...

Market Report; 22 April, 2021

At the end of today’s trading session on the Nairobi Securities Exchange  A total of 10,457,000 shares in 947 deals, corresponding to a market value of KES 362,499,710.00, were traded. Compared with the previous NSE trading day (Wednesday, April 21), today’s data shows 69% decline in volume, 66% decline in turnover, and 25% decline in deals. The current Nairobi Securities Exchange market capitalization is KES 2.5 trillion. In the aggregate, 43 NSE listed equities participated...

Market Capitalization Increases by 20.88 %  in Q1 2021.

Market performance at the Nairobi Securities Exchange has shown considerable improvement on both equities and bonds according to data from the Capital Markets Authority Quarterly Statistical Bulletin. The Authority said Market capitalization increased by 20.88% to Kes. 2.44 trillion registered in Q1. 2021 from Kes. 2.01 trillion in Q1. 2020. This same trajectory was also recorded when compared against the quarter ended December 2020. End of the first quarter of 2021, market capitalization recorded a...

Asian Markets Rise, Japanese Shares Lead Gains

Stocks in Asia-Pacific rose on Thursday, with Japanese shares leading gains among the region’s major markets. The Nikkei 225 in Japan jumped 2.38% to close at 29,188.17, recovering partially from two days of losses earlier in the week. The Topix index gained 1.82% to finish the trading day at 1,922.50. South Korea’s Kospi closed 0.18% higher at 3,177.52. Stocks in mainland China closed mixed: The Shanghai composite slipped 0.23% to 3,465.11 while the Shenzhen component rose 0.412% to 14,209.44....

Daniel Mminele Steps Down as Absa Group Chief Executive

Absa Group has announced the resignation of the Group Chief Executive Daniel Mminele. In a statement issued by the group, Absa said they had reached an agreement with Daniel Mminele to step down as a director and Group Chief Executive and will be leaving the group with effect from 30 April 2021. Daniel Mminele joined the Group as Group Chief Executive on 15 January 2020. He led the Group through the COVID-19 crisis, which saw...

Gold Gains 0.1% on Weakening U.S Dollar, Rising Treasury Yields

Gold prices rose on Thursday to hover near an eight-week high touched in the last session, as a sagging dollar and weaker U.S. Treasury yields boosted the metal’s appeal, while palladium held close to an all-time high hit in the previous session. Spot gold was up 0.1% at $1,794.67 per ounce by 0115 GMT, after hitting its highest since Feb. 25 at $1,797.41 on Wednesday as U.S. gold futures rose 0.1% to $1,795.40 per ounce. Palladium...

Bamburi Cement Post kes 1.12 Billion Profit for FY2020

Bamburi Cement has posted a profit after tax of Kes 1.12 Billion the financial period ended 31st December 2021, a 212% growth in revenue from the Kes 359 million that was posted during the same period in 2019. Group Revenue in the company declined by 5% to Kes 34.88 billion during the financial period ended 31st December 2020 compared to Kes 36.89 billion in 2019. The decline was attributed to the 13% slump in revenue...

BOC Posts 82% Jump in Net Profit as Demand for Medical Gas Rises

BOC Kenya, which produces and distributes industrial and medical gases throughout the East African region, has posted impressive results for the year that ended in December 2020. The firm’s net profit rose by 82% to Kes 101.7 million at the end of 2020 from Kes 55.9 million at the end of 2019 as the demand for medical oxygen shot through the roof. BOC recorded a 12.5% rise in revenue to Kes 1.1 billion in 2020 compared...

Wall Street Rebounds, Nasdaq Leads Index Rally, Netflix Plummets 7% on Earnings

Wall Street rebounded on Wednesday after a two-day decline in a broad rally as a tilt toward stocks poised to benefit from a recovering economy offset Netflix Inc’s sell-off after its disappointing results a day earlier. Shares of Netflix slumped 7.4%, one of the largest on wall street after the world’s largest streaming service said slower production of TV shows and movies during the pandemic hurt subscriber growth in the first quarter. Netflix’s results dashed...

Market Report; 21 April, 2021

At the end of today’s trading session on the Nairobi Securities Exchange A total of 33,717,000 shares in 1,261 deals, corresponding to a market value of KES 1,060,895,182.00, were traded. Compared with the previous NSE trading day (Tuesday, April 20), today’s data shows 117% improvement in volume, 120% improvement in turnover, and 19% improvement in deals. The current Nairobi Securities Exchange market capitalization is KES 2.51 trillion. In the aggregate, 46 NSE listed equities participated...

EGM Securities To Offer NSE Derivatives

Traders will now be able to buy and sell derivative contracts on the NSE derivatives market through an online platform after EGM Securities gained approval to perform the transactions. According to a statement released by the Nairobi Securities Exchange, EGM clients will be able to trade “futures contracts on the six most traded Kenyan stocks, namely: British American Tobacco Kenya, KCB Group Plc, Equity Group Holdings, Safaricom PLC, East African Breweries PLC and ABSA Bank Kenya PLC...

Asian Pacific Stocks Mixed as Rising COVID-19 Cases in India Impairs Economic Outlook

Stocks in Asia-Pacific largely fell on Wednesday as a surge in coronavirus cases in countries like India weighed on the economic outlook and investor sentiment. In Japan, the Nikkei 225 dropped 2.03% to close at 28,508.55 — its second straight day of 2% declines. The Topix index slipped 1.98% to finish the trading day at 1,888.18. South Korea’s Kospi shed 1.52% to close at 3,171.66. Hong Kong’s Hang Seng index fell 1.68%, as of its final hour of trading. In mainland...

Oil Drops Towards $62K as Rising COVID-19 Cases in India Impairs Demand Outlook.

Oil prices edged lower for a second day on Wednesday, weighed down by concerns that surging COVID-19 cases in India will drive down fuel demand in the world’s third-biggest oil importer. Brent crude futures for June fell 48 cents, or 0.7%, to $66.09 a barrel at 0515 GMT, after dropping 48 cents on Tuesday. U.S. West Texas Intermediate (WTI) crude futures for June fell 52 cents, or 0.8%, to $62.15 a barrel. The May contract...

Wall Street Ends Lower as Virus Spike Hits Travel Stocks

Stocks on Wall Street fell for a second straight day on Tuesday as a global spike in coronavirus cases hit travel-related shares and investors had second thoughts about big U.S. banks’ apparently stellar earnings last week. Kansas City Southern surged 15.2% on the prospect of a bidding war after Canadian National offered about $30 billion for the U.S. railroad, some $5 billion more than an earlier offer from Canadian Pacific. Boeing Co slid 4.1% on...

Market Report; 20 April, 2021

At the end of today’s trading session on the Nairobi Securities Exchange. A total of 15,533,100 shares in 1,056 deals, corresponding to a market value of KES 483,281,971.00, were traded. Compared with the previous NSE trading day (Monday, April 19), today’s data shows 220% improvement in volume, 281% improvement in turnover, and 23% improvement in deals. The current Nairobi Securities Exchange market capitalization is KES 2.48 trillion. In the aggregate, 45 NSE listed equities participated...

Asian Pacific Stocks Mixed ,China Keeps Lending Rate Unchanged

Shares in Asia-Pacific were mixed in Tuesday trade as China kept its benchmark lending rate unchanged. Stocks in Japan led to losses among the region’s major markets, with the Nikkei 225 falling 2.12% while the Topix index shed 1.64%. Mainland Chinese stocks, on the other hand, rose by the afternoon. The Shanghai composite advanced 0.29%, while the Shenzhen component gained 0.451%. Hong Kong’s Hang Seng index was flat. The S&P/ASX 200 in Australia also declined 0.56%. South Korea’s Kospi gained...

KeNHA Signs Kes 17.9 Billion LAPSSET Deal with Chinese Firm

The Kenya National Highway Authority (KeNHA) and China Communications Construction Company Monday signed a Kes 17.9 billion  (about 166 million U.S. dollars) deal to construct a 453-km road that is part of the Lamu Port-South Sudan-Ethiopia Transport (LAPSSET) corridor project. In a statement, Peter Mundinia, the director-general of KeNHA, said the tender award agreement is for stage construction of the LAPSSET development project and spur roads in the country’s southeast region. The road construction comprises...

Gold Eases 0.3% as Benchmark U.S Yields Rebound

Gold prices slipped on Tuesday after hitting a seven-week high in the previous session, as a rise in U.S. Treasury yields eclipsed support from a weaker dollar. Spot gold was down 0.2% to $1,766.32 per ounce by 0245 GMT, after hitting its highest since Feb. 25 at $1,789.77 on Monday. U.S. futures of the precious yellow metal eased 0.3% to $1,766.10 per ounce. “Gold came off yesterday’s high against a backdrop of rising yields. But, the...

Oil Prices Gain Amidst Concerns on Rising Global COVID-19 Cases.

Oil prices rose on Tuesday, supported by a weaker U.S. dollar which boosts demand for dollar-denominated assets from buyers holding foreign currencies. Additionally, there are expectations that crude inventories fell in the United States, the world’s biggest oil user, though rising coronavirus cases in Asia capped gains. Brent crude futures for June delivery rose by 54 cents, or 0.8%, to $67.59 a barrel at 0415 GMT. U.S. West Texas Intermediate (WTI) crude futures for May...

Market Report;  19 April, 2021

At the end of the first weekday of trading on the Nairobi Securities Exchange. A total of 4,860,300 shares in 860 deals, corresponding to a market value of KES 126,795,375.00, were traded. Compared with the previous NSE trading day (Friday, April 16), today’s data shows 57% decline in volume, 60% decline in turnover, and 2% decline in deals. The current Nairobi Securities Exchange market capitalization is KES 2.47 trillion. In the aggregate, 41 NSE listed...

IFC to Invest Kes 215 Million in Nairobi Based Antler EA

The International Finance Corporation (IFC), which is part of the World Bank, plans to invest up to $2 million (Kes215 million) in Antler East Africa, a venture capital firm based in Nairobi. The funds will primarily be invested in pre-seed opportunities in East Africa and beyond. According to information on its website, Antler is an early-stage venture capital firm that invests in exceptional entrepreneurs. The company has invested in more than 200 startups throughout the world....

Asia Pacific Stocks Edge Higher, China Markets Lead Gains Despite Rising COVID-19 Cases in India.

Shares in Asia-Pacific mostly rose in Monday trade, though India’s markets lagged as the country continues to see a surge in Covid-19 infections. Mainland Chinese stocks led gains among the region’s major markets, with the Shanghai composite up 1.49% on the day to 3,477.55 while the Shenzhen component surged 2.894% to 14,117.80. India’s markets tumbled in Monday trade as both the Nifty 50 and BSE Sensex dropped more than 2% each as the COVID-19 situation in the country remains...

Bitcoin Tumbles From Record High, Ether and Dogecoin Follow

The price of bitcoin tumbled over the weekend and was down as much as 19.5% from record highs of $ 62,000 posted by the largest cryptocurrency in the past week. On Sunday, Bitcoin tumbled more than 11%, its biggest 24-hour Decline dropping from about $62,000  to $55,000, its lowest level since the end of March. Currently, BTC is trading at $57,413 as of 11.00 AM East African Time. The reason for the plunge has not...

Oil Prices Edge Lower as Rising COVID-19 Cases Fuels Fear Among Investors

Oil prices were lower on Monday as rising coronavirus infections in India and other countries prompted concerns that stronger measures to contain the pandemic will hit economic activity, along with demand for commodities such as crude. Brent crude was down 23 cents, or 0.3%, at $66.54 a barrel by 0426 GMT, after rising 6% last week. U.S. oil was down 27 cents, or 0.2%, at $62.96 a barrel, having gained 6.4% last week. India reported...

NSE Weekly Market Review – Week 15, 2021

The Nairobi Securities Exchange (NSE) closed positive during the week, backed by local and international economic data coming from China and earnings release by listed banks on the U.S Exchanges and also as investors on most blue-chip companies tried to get a a balance on the higher edge from last week’s decline. The benchmark All share index of the Nairobi Securities Exchange (NASI) was up 6.49 points or 4.09% to close the  trading week at 165.08...

Wall Street Ends Week High backed by S&P 500, Dow Rally

The three main Wall Street Indices ended Friday higher for the day and week, with the S&P 500 and the Dow breaking closing records, as investors took strong economic data and bank earnings as signs of momentum in the U.S. pandemic recovery. Nine of the 11 S&P sub-sectors rose on Friday. The energy and information technology Indices were the exceptions. The former, dipping 0.9%, was weighed by lower oil prices, while the latter was marginally...

Market Report; 16 April, 2021

At the end of the last weekday of trading on the Nairobi Securities Exchange A total of 11,280,100 shares in 881 deals, corresponding to a market value of KES 314,012,481.00, were traded. Compared with the previous NSE trading day (Thursday, April 15), today’s data shows 6% decline in volume, 14% decline in turnover, and 6% decline in deals. The current Nairobi Securities Exchange market capitalization is KES 2.49 trillion. In the aggregate, 49 NSE listed...

Liberty Kenya Post a 2% Decline in Profits to Kes 676 Million in FY2020

Liberty Kenya, a subsidiary of South Africa based Liberty Holdings, has posted a 2% decline in profit after tax to Kes 676 million during the financial period ended 31st December 2020 from Kes 690 million recorded in the group 2019. The group’s assets increased by 3% to Kes 39.30 billion during the financial period ended 31st December 2020, compared to the Kes 38.2 billion recorded during the same period in 2019. The insurance company posted...

Asian Markets Edge Higher, Investors React to China Data Release

Shares in Asia-Pacific edged higher on Friday as investors reacted to the release of Chinese economic data. Mainland Chinese stocks closed higher as the Shanghai composite gained 0.81% to 3,426.62 while the Shenzhen component advanced 0.296% to 13,720.74. Hong Kong’s Hang Seng index rose 0.76%, as of its final hour of trading. China’s gross domestic product surged 18.3% in the first three months of the year from a year ago, the country’s National Bureau of Statistics said Friday. That was slightly lower...

Jubilee Holdings Post a Profit Before Tax of Kes 5.08 Billion for FY2020.

Jubilee Holdings Limited, East Africa’s largest insurance group, has posted a profit before tax of Kes. 5.08 billion for the financial period ended 31st December 2020, a 1.4%  increase compared to the same period in 2019. The group attributed the profit to the confidence placed in the Group by their clients, continued focus on sound underwriting practices, tightening of controls over claims and expenses, and the prudently diversified investment portfolio held by the Group. Jubilee...

Oil Extends Hits Four Week High on China Data and Increased Demand Outlook

Oil prices extended gains on Friday, recording a weekly gain of more than 6% with an improved oil demand outlook and strong economic recoveries in China and the United States, offsetting concerns about the rise in COVID-19 infections. Brent crude futures rose 13 cents, or 0.2%, to $67.07 a barrel at 0508 GMT, following a 36 cent rise on Thursday. U.S. West Texas Intermediate (WTI) crude futures were 12 cents, or 0.2%, higher to $63.58...

Market Report: 15 April, 2021

At the end of today’s trading session on the Nairobi Securities Exchange A total of 12,024,900 shares in 942 deals, corresponding to a market value of KES 365,656,171.00, were traded. Compared with the previous NSE trading day (Wednesday, April 14), today’s data shows 25% decline in volume, 27% decline in turnover, but 2% improvement in deals. The current Nairobi Securities Exchange market capitalization is KES 2.48 trillion. In the aggregate, 46 NSE listed equities participated...

EPRA fails to Adjust Upwards the April-May Fuel Pump Prices

The Energy and Petroleum Regulatory Authority(EPRA) has retained Diesel, Petrol and Kerosene’s price between 15th April and May 14th, 2021. This is despite an increase in the landing cost of crude oil in March 2021. The constant fuel prices can be viewed against a strengthening Kenya Shilling against the US dollar, meaning the country uses fewer Shillings to import crude oil. The Kenya Shilling has been strengthening against the US dollar in recent months, from...

Asian Markets Mixed, China Markets Lead Losses

 Stocks in Asia-Pacific were mixed in Thursday trade, with Australia’s jobs data for March beating expectations. In Australia, the S&P/ASX 200 gained 0.39%. Australia’s unemployment rate for March came in at 5.6%, according to seasonally adjusted estimates released by the Australian Bureau of Statistics (ABS) on Thursday, against expectations of a 5.7% reading. Data from the ABS also showed 70,700 net new jobs being created in March, more than double the forecast in a Reuters poll for...

Bitcoin Tumbles Shortly After Reaching All-time High, Ether and Altcoins Follow

Bitcoin’s price edged lower after the largest cryptocurrency reached an all-time high on Wednesday trading at around $64,717.01 hours before Coinbase shares began trading on the Nasdaq. However, shortly after the digital currency slipped 2.34% and is currently trading at $ 62,831.23 as of 11.00 AM East African Time. The Coinbase listing is seen to be pushing crypto even more into the mainstream of investing, exposing legions of potential buyers to digital currencies, which have...

Oil Prices Hover Near One Month High as OPEC+ Raises Demand Forecast

Oil prices tumbled on Thursday after holding around one-month highs in the previous session, having surged at around 5% after the International Energy Agency (IEA) and OPEC raised forecasts for oil demand despite the prevailing coronavirus Pandemic. Brent crude was down by 21 cents, or 0.3%, at $66.37 a barrel by 0129 GMT, after gaining 4.6% on Wednesday and closing at the highest since March 17. U.S. West Texas Intermediate (WTI) futures dropped 25 cents,...

Market Report; 14 April, 2021

At the end of today’s trading session on the Nairobi Securities Exchange A total of 15,980,200 shares in 921 deals, corresponding to a market value of KES 499,040,227.00, were traded. Compared with the previous NSE trading day (Tuesday, April 13), today’s data shows 6% improvement in volume, 35% decline in turnover, and 3% decline in deals. The current Nairobi Securities Exchange market capitalization is KES 2.43 trillion. In the aggregate, 49 NSE listed equities participated...

Asian Pacific Stocks Edge Higher, Hong Kong Leads Gains

Shares in Hong Kong led gains in Asia-Pacific during Wednesday trade as Chinese tech stocks listed in the city jumped. Hong Kong’s Hang Seng index led to gains among the region’s major markets as it rose 1.24% by the afternoon. Hong Kong-listed shares of Chinese tech firms saw a rebound in Wednesday trade after 12 companies, including Baidu, JD.com and Meituan, signalled compliance with antitrust laws. By Wednesday afternoon in Hong Kong, shares of Baidu were...

Oil Prices Rally as OPEC Raises its Demand Outlook Amidst Drawdown on U.S Stockpile

Oil extended gains on Wednesday during early Asian trading hours after an industry report pointed to another decline in U.S. crude stockpiles followed by OPEC raising its outlook for oil demand. Brent crude futures rose 28 cents, or 0.4%, to $63.95 a barrel at 0057 GMT, after climbing 39 cents on Tuesday. U.S. West Texas Intermediate (WTI) crude futures similarly climbed 28 cents, or 0.5%, to $60.46 a barrel, adding to Tuesday’s rise of 48...

Market Report; 13 April, 2021

At the end of today’s trading session on the Nairobi Securities Exchange  A total of 15,035,600 shares in 952 deals, corresponding to a market value of KES 770,605,579.00, were traded. Compared with the previous NSE trading day (Monday, April 12), today’s data shows 43% improvement in volume and 95% improvement in turnover. The current Nairobi Securities Exchange market capitalization is KES 2.41 trillion. In the aggregate, 48 NSE listed equities participated in trading, ending with...

Bitcoin Hits an all time High of $62K Following Coin base Expected Listing

Bitcoin, the largest cryptocurrency by market capitalization, surged by 3 % on Tuesday, reaching an all-time high of $62,218.94 as of 12.00 PM EAT with a market cap of $1.173 trillion. Effect of Coinbase IPO on Bitcoin Analyst have attributed the surge in the digital currency to the Coinbase direct listing on Wednesday. The listing, expected to take place Wednesday (April 14), will see Coinbase cementing its position as the big name in cryptocurrency, with...

Asia Pacific Market Mixed as Alibaba Soars Despite Regulatory Concerns

Shares in Asia-Pacific were mixed on Tuesday, with South Korea leading major markets regionally. By end of trading on Tuesday, the Kospi in South Korea was 1.07% higher, at 3,169.08 while in Japan, the Nikkei 225 rose 0.72% to close at 29,751.61 while the Topix index gained 0.2% to finish the trading day at 1,958.55. Mainland Chinese stocks closed mixed. The Shanghai composite shed 0.48% to 3,396.47 while the Shenzhen component rose 0.242% to 13,528.31....

Total Signs $15 Billion Deal With Uganda on East Africa’s Oil Pipeline.

Total SE has signed agreements with Ugandan officials for an oil development set to transform the East African nation into a significant crude producer and exporter. The deal, which is expected to unlock upwards of $15 billion in investments, was signed in Kampala. President Yoweri Museveni led the Uganda delegation, while Total chairman and chief executive Patrick Pouyanne led the French company’s team. Tanzania President Samia Suluhu was also in attendance in her first foreign...

Oil Prices edge Higher Amidst Middle East Tension

Oil prices edged higher today amidst tensions in the Middle East after the Yemen-based Houthi movement said it fired missiles on Saudi oil sites and an expected drawdown in crude inventory in the United States. Brent crude futures were up 9 cents, or 0.1%, at $63.37 a barrel by 0055 GMT.  U.S. crude futures gained 11 cents, or 0.2%, to $59.81 a barrel.   Despite the challenges faced, crude prices have remained rangebound in the past...

Market Report; 12 April, 2021

At the end of the first weekday of trading on the Nairobi Securities Exchange. A total of 10,513,000 shares in 955 deals, corresponding to a market value of KES 394,289,389.00, were traded. Compared with the previous NSE trading day (Friday, April 9), today’s data shows 30% decline in volume, 15% decline in turnover, but 24% improvement in deals. The current Nairobi Securities Exchange market capitalization is KES 2.4 trillion. In the aggregate, 43 NSE listed equities...

Asian Pacific Stocks Mostly Decline as Fear of Rising COVID-19 Cases Worry Investors

Asia-Pacific stocks mostly declined on Monday, with shares in India and China recording great losses. The losses came as the COVID-19 situation in the country remains severe, with India recording high cases and considering a lockdown. Both the Nifty 50 and BSE Sensex in India dropped more than 3% each, as of 1:45 p.m. local time.   Meanwhile, mainland Chinese stocks also fell on the day. The Shanghai composite declined 1.09% to 3,412.95 while the Shenzhen component...

Sameer Africa Post Kes 43 Million Profit for FY2020.

Sameer Africa Plc has reported a Kes 43 million net profit during the financial year ended 30th December 2020, a remarkable improvement from the Kes 1.1 billion net loss posted during the same period December 2019. The tyre manufacturer recorded a decline in revenue by 57% to Kes 757 million during the financial ended 30th December 2020 from Kes1.76 billion recorded in 2019. The decline was attributed to the group’s brief closure of its tyre...

Oil Prices Gain, as Fed Jerome Powell Points to Economic Growth

Oil prices edged higher on Monday as investors watched out for the short-term demand outlook amid the rising cases of COVID-19 in some regions. In contrast, a rising dollar reduced the appeal of commodities priced in the currency. Brent was up 2 cents at $62.97 a barrel by 0510 GMT, rising to as high as $63.30. U.S. crude gained 1 cent to $59.49 a barrel after rising as much as 46 cents earlier.   Analyst...

Nigeria’s SEC Bans Trading of Unregistered Foreign Securities.

The Nigeria Securities and Exchange Commission has banned the trading of unregistered foreign securities. In a statement issued on Thursday, the securities said their attention had been drawn to the existence of several providers of online investment and trading platforms that purportedly facilitate direct access of the investing public in the Federal Republic of Nigeria to securities of foreign companies listed on Securities Exchanges registered in other jurisdictions. In recent years, Nigeria has witnessed the...

Wall Street Gains Ahead of Quarterly Earnings Season

Wall Street’s benchmarks, the S&P 500 and the Dow rose on Friday to close at record highs, posting a third straight weekly rise partly on a lift from growth stocks, with a late-day rally building gains ahead of quarterly earnings season next week. Growth names have found their footing over the past two weeks after being outperformed by value stocks for most of the year. A pullback in the 10-year U.S. Treasury yield from a...

Market Report; 09 April, 2021

At the end of the last weekday of trading on the Nairobi Securities Exchange A total of 14,973,700 shares in 769 deals, corresponding to a market value of KES 466,313,832.00, were traded. Compared with the previous NSE trading day (Thursday, April 8), today’s data shows 2% decline in volume, 2% improvement in turnover, but 25% decline in deals. The current Nairobi Securities Exchange market capitalization is KES 2.39 trillion. In the aggregate, 44 NSE listed...

This is where investors get first hand information, Securities real time feed & updates from Emerging & Frontier Markets worldwide with main focus on the Nairobi Securities Exchange.

Copyright, 2021 © All Rights Reserved

TSLA 
$843.03  $24.71  3.02%  
GME 
$183.28  $0.5500  -0.30%  
MSFT 
$304.21  $1.46  0.48%  
AAPL 
$144.84  $1.08  0.75%  
AMC 
$40.74  $0.6700  1.67%  
GMEQX 
$13.08  $0.0300  -0.23%  
FB 
$324.76  $3.77  -1.15%  
TWTR 
$62.77  $0.4000  -0.63%  
AIR.BE 
113,90 €  1,22 €  1.08%  
ABNB 
$169.18  $1.32  -0.77%  
GOOGL 
$2,827.36  $4.34  0.15%  
AMZN 
$3,409.02  $109.16  3.31%