At the end of today’s trading session on the Nairobi Securities Exchange. A total of 18,564,000 shares in 1,328 deals, corresponding to a market value of KES 793,045,075.00, were traded. Compared with the previous NSE trading day (Monday, August 30), today’s data shows 111% improvement in volume, 300% improvement in turnover, and 15% improvement in deals. The current market capitalization of the Nairobi Securities Exchange is KES 2.77 trillion. In the aggregate, 48 NSE equities...
Britam Holdings has posted Kes 376.3 million net profit in six months to June, marking a recovery from the Kes 1.63 billion net loss posted in a similar period last year. The return into profits was attributed to growth in investment income and a rise in the value of shares at the Nairobi Securities Exchange (NSE). Net revenue in the financial services company rose 2.4 % to Kes 11.97 billion during the half-year period from...
I&M bank booked a 29% rise in its half-year profit to hit Kes 4.25 billion during the six months period ended 30th June 2021 from a lower Kes 3.19 billion recorded during the same period last year. The performance was largely attributed to higher operating income in the six months, which helped offset greater costs in the period. The group’s total operating income increased by 15.3 % to Kes 12.8 billion during the half-year period...
Shares in Asia-Pacific were mixed on Tuesday, as data showed slowing Chinese factory activity growth in August. In mainland China, the Shanghai composite rose 0.45% to close at 3,543.94 while the Shenzhen component shed 0.659% on the day to 14,328.38. China’s factory activity grew at a slower pace in August as compared with the previous month, data released Tuesday showed. The official manufacturing Purchasing Managers’ Index for August came in at 50.1, against July’s reading of 50.4. Meanwhile, the...
NCBA Bank has posted a 77 % rise in half-year profit to Kes 4.66 billion during the half-year period ended 30th June 2021 compared to Kes 2.6 billion recorded during the same period in 2020. The group attributed the strong financial performance to the steadily improving economic environment and early outcomes of the Group’s focus on its strategic initiatives anchored on customer experience. “We have made a concerted effort to reduce the risk in our...
Oil prices fell on Tuesday on concerns that power outages and flooding in Louisiana after Hurricane Ida will cut crude demand from refineries at the same time global producers plan to raise output. U.S. West Texas Intermediate (WTI) crude futures were down 41 cents, or 0.6%, to $68.80 a barrel at 0245 GMT, reversing most of Monday’s gains. Brent crude futures for October, due to expire on Tuesday, were down 46 cents, or 0.6%, at...
Wall Street benchmark indexes, the S&P 500 and Nasdaq topped their record closes once again on Monday, bolstered by technology stocks, as last week’s dovish comments from the Federal Reserve on tapering its monetary stimulus refocused investors’ minds on economic growth. It was the fourth record closing high in five sessions for the S&P, and the fifth in six sessions for the Nasdaq, runs only interrupted by jitters ahead of Fed Chair Jerome Powell’s Jackson...
At the end of the first weekday of trading on the Nairobi Securities Exchange. A total of 8,787,600 shares in 1,156 deals, corresponding to a market value of KES 198,122,100.00, were traded. Compared with the previous NSE trading day (Friday, August 27), today’s data shows 18% decline in volume, 41% decline in turnover, and 10% decline in deals. The current market capitalization of the Nairobi Securities Exchange is KES 2.82 trillion. In the aggregate, 52...
Standard Group’s performance for the 6 months period ended 30 June 2021 showed improvement with a 14% revenue increase to close at Kes. 1.6 billion compared to Kes. 1.4 billion for the same period in 2020. The media house attributed the performance to the improved operating environment with key clients gradually increasing their advertising budgets, while recently launched products have continued to increase their revenue growth. The Group’s result after tax significantly improved, closing at...
Shares in Asia-Pacific mostly rose on Monday trade, with Australian stocks recovering from an earlier slip as Covid cases in the country spike. In Japan, the Nikkei 225 advanced 0.54% to close at 27,789.29 while the Topix index gained 1.11% to 1,950.14. South Korea’s Kospi ended the trading day up 0.33% at 3,144.19. Mainland Chinese stocks were mixed on the day as the Shanghai composite rose 0.17% to 3,528.15, while the Shenzhen component dipped fractionally to 14,423.37. Hong Kong’s Hang Seng index closed 0.52%...
Jubilee Holdings has posted a profit before tax of Kes 4.5 billion for the half-year ended June 30, a 150 % jump compared to Kes 1.8 billion reported same period last year. The notable rise was pegged to the sale of a 66 % stake in its former subsidiary Jubilee General Insurance Limited to Munich-based multinational Allianz. “Our outstanding financial results in the first half of the year is evidence of the tremendous progress we’re...
Oil prices pared early gains on Monday, off more than three-week highs reached earlier in the session as a powerful hurricane ploughing through the Gulf of Mexico forced shutdowns and evacuations of hundreds of offshore crude platforms. U.S. gasoline prices rose more than 3% as power outages added to refinery closures on the Gulf coast. Brent was up 27 cents or 0.4% at $72.97 a barrel by 0337 GMT. It rose more than 11% last...
Bamburi Cement Group has posted a Kes 776 million profit for the half-year ended 30th 2021, a 7.6 % growth compared to the Kes 721 million profit recorded in a similar period last year. The cement maker attributes the growth to the recovery of the cement market against a depressing first half of 2020, impacted adversely by the COVID-19 containment measures introduced at the onset of the pandemic. Pretax Profit grew significantly to Kes 1.1...
Global market headlines swung squarely to Fed policy and geopolitical uncertainties last week, while swings in the stock market remained narrow, continuing August’s tranquil trend. United States Stocks gained as full Food and Drug Administration (FDA) approval of the Pfizer-BioNTech COVID-19 vaccine supported sentiment toward an ongoing economic recovery. The tech-heavy Nasdaq Composite index outperformed the broad market S&P 500 Index and the large-cap Dow Jones Industrial Average. The Russell 2000 Index of small-cap stocks...
Wall Street rallied on Friday, pushing the S&P and the Nasdaq to record closing highs for the fourth time this week, as U.S. Federal Reserve Chairman Jerome Powell’s remarks at the Jackson Hole Symposium calmed fears over the tapering timetable and sent investors into the weekend in a buying mood. All three indexes posted weekly gains. “I see two things happening,” said Mike Zigmont, head of research and trading at Harvest Volatility Management in New...
At the end of the last weekday of trading on the Nairobi Securities Exchange A total of 10,713,800 shares in 1,278 deals, corresponding to a market value of KES 334,298,808.00, were traded. Compared with the previous NSE trading day (Thursday, August 26), today’s data shows 51% decline in volume, 50% decline in turnover, and 5% decline in deals. The current market capitalization of the Nairobi Securities Exchange is KES 2.85 trillion. In the aggregate, 44...
Asia-Pacific markets traded mixed on Friday as investors remained cautious ahead of the Federal Reserve’s annual Jackson Hole symposium where Fed Chair Jerome Powell is due to speak. In Australia, the benchmark ASX 200 closed fractionally lower at 7,488.30. The heavily-weighted financials subindex rose 0.25% while the energy sector was flat and materials fell 0.45%. The Nikkei 225 in Japan fell 0.36% to 27,641.14 while the Topix index declined 0.34% to 1,928.77. South Korea’s Kospi rose 0.17%...
Absa Bank Kenya Plc has reported its financial results for the first six month period ended 30th June 2021, outperforming its peers to post 846% growth in Profit After Tax to Kes 5.6 billion compared to Kes 0.6 Billion in the same in 2020. The impressive performance was mainly driven by growth in interest income, particularly in the small and medium enterprises segment, as the Bank accelerated its efforts in supporting businesses to recover from...
Oil prices rose on Friday, on track to post big gains for the week, on worries about near term supply disruptions as energy companies began shutting in production in the Gulf of Mexico ahead of a potential hurricane forecast to hit on the weekend. U.S. West Texas Intermediate (WTI) crude futures climbed 16 cents, or 0.2%, to $67.58 a barrel at 0111 GMT, clawing back a 1.4% loss on Thursday. WTI is headed for a weekly gain...
Wall Street closed lower on Thursday, ending a streak of all-time closing highs on concerns over developments in Afghanistan, while fears of a potential shift in U.S. Federal Reserve policy prompted a broad but shallow sell-off the day before the Jackson Hole Symposium. All three major wall street benchmarks for U.S. stock ended the session in the red, with the S&P and the Nasdaq notching their first down day in six. The sell-off firmed after...
At the end of today’s trading session on the Nairobi Securities Exchange A total of 21,730,000 shares in 1,341 deals, corresponding to a market value of KES 662,151,568.00, were traded. Compared with the previous NSE trading day (Wednesday, August 25), today’s data shows 96% improvement in volume, 67% improvement in turnover, and 8% improvement in deals. The current market capitalization of the Nairobi Securities Exchange is KES 2.85 trillion. In the aggregate, 47 NSE equities...
Asia-Pacific markets mostly declined on Thursday despite overnight gains on Wall Street, while South Korea became the first major economy to raise interest rates during the pandemic. The Bank of Korea raised its base rate by 25 basis points to 0.75% for the first time in nearly three years. South Korean stocks were mixed. The benchmark Kospi fell 0.58% to 3,128.53 while the Kosdaq gained 0.26% to 1,020.44. The Korean won weakened against the dollar following the rate hike,...
Oil fell on Thursday for the first session this week as renewed concerns about demand amid rising COVID-19 infections cut short a three-day rally and as production returned in Mexico. Brent crude was down 29 cents, or 0.4%, at $71.96 a barrel by 0649 GMT, rising 1.7% on Wednesday. U.S. oil was down 44 cents, or 0.6%, at $67.92 a barrel, after gaining 1.2% in the previous session. The U.S. Energy Information Administration (EIA) reported...
Diamond Trust Bank Kenya Ltd (DTK) has reported a 20.1% increase in Profit after tax to Kes 3.2 billion during the six months period ended 30th June 2021 compared to a profit of Kes 2.62 billion recorded during the same period in 2020. Profit before tax stood at Kes 4.9 Billion during the six months period, an 8.8% rise compared to Kes 4.48 billion recorded in 2020. The lender attributed the performance to the gradual...
Wall Street gained ground again on Wednesday, with chipmakers and financials helping to push the S&P 500 and the Nasdaq to record closing highs as investors look to the upcoming Jackson Hole Symposium for assurances that Federal Reserve’s timeline for policy tightening remains intact. With few negative catalysts to sour the risk-on sentiment, all three major U.S. indexes ended the session modestly higher. “Positive news on vaccination approvals, and expectations that the Fed won’t shock...
At the end of today’s trading session on the Nairobi Securities Exchange. A total of 11,073,100 shares in 1,237 deals, corresponding to a market value of KES 396,593,129.00, were traded. Compared with the previous NSE trading day (Tuesday, August 24), today’s data shows 48% improvement in volume, 32% improvement in turnover, and 5% improvement in deals. The current market capitalization of the Nairobi Securities Exchange is KES 2.85 trillion. In the aggregate, 44 NSE equities...
Asia-Pacific stocks were mixed at the close on Wednesday, as optimism continued to drive U.S. stocks, with the S&P 500 and Nasdaq reaching record highs overnight. Meanwhile, India’s benchmark index hit a record high. Hong Kong’s Hang Seng index slipped 0.13% to close at 25,693.95 after jumping earlier. Chinese tech stocks listed in Hong Kong pared morning gains, losing steam by the close after rallying Tuesday. Tencent shares rose 0.55% after jumping 3% earlier. Food...
Family Bank said it would use the funds to increase its branch network from the current 92 outlets in 37 counties, widening its presence and customer base as it also considers an initial public offering (IPO) proposal.
Oil prices fell on Wednesday, taking a breather after a strong rally this week spurred by the loss of a quarter of Mexico’s production and signs that China, the world’s biggest importer, has curbed a recent coronavirus outbreak. U.S. West Texas Intermediate (WTI) crude futures fell 25 cents, or 0.4%, to $67.29 a barrel by 0151 GMT, while Brent crude futures dropped 22 cents, or 0.3%, to $70.85. Both benchmark contracts rose by about 8% over the previous two...
Wall Street ended higher in a late-summer, light volume rally on Tuesday as the FDA’s full approval of a COVID-19 vaccine on Monday and the absence of negative catalysts kept risk appetite alive ahead of the much-anticipated Jackson Hole Symposium. All three major U.S. stock indexes (the wall street benchmarks) advanced higher, with the S&P 500 and the Nasdaq closing at all-time closing highs. The session marked the S&P 500’s 50th record high close so...
El Salvador has begun the installation of Bitcoin ATMs, which will allow its citizens to convert the cryptocurrency into U.S. dollars and withdraw it in cash, as part of the government’s plan to make the digital coin a legal tender. The government will install 200 of the teller machines to initially accompany its digital wallet called Chivo, a local slang term for ‘cool,’ President Nayib Bukele said on Twitter. He added that transactions will be...
At the end of today’s trading session on the Nairobi Securities Exchange. A total of 7,475,200 shares in 1,174 deals, corresponding to a market value of KES 300,217,368.00, were traded. Compared with the previous NSE trading day (Monday, August 23), today’s data shows 64% decline in volume, 54% decline in turnover, and 2% decline in deals. The current market capitalization of the Nairobi Securities Exchange is KES 2.86 trillion. In the aggregate, 47 NSE equities...
Shares in Asia-Pacific rose in Tuesday trade, with Hong Kong stocks leading gains among the region’s major markets. That came after the tech-heavy Nasdaq Composite jumped to a record closing high overnight following the U.S. Food and Drug Administration’s full approval of Pfizer and BioNTech’s Covid-19 vaccine. Hong Kong’s Hang Seng index closed 2.46% higher at 25,727.92, with shares of Chinese tech firms listed in the city jumping: internet titan Tencent rose 8.81% while Meituan soared 13.51% and Alibaba advanced 9.47%. The Hang Seng...
Standard Chartered Bank Kenya(StanChart) has reported a 50.9 % growth in net profit in the half-year period ended 30th June 2021. The performance was attributed to lower operating expenses reported in the group and higher non-interest income. The lender reported net earnings of Kes 4.8 billion in the half-year period compared to Kes 3.2 billion a year reported during the same period in 2020. Net loans to customers declined to Kes 130.3 Billion in H1,...
Oil benchmarks jumped more than 5% on Monday, helped by a weaker U.S. dollar, after marking their biggest week of losses in more than nine months last week.
Wall Street rallied on Monday, and the Nasdaq reached an all-time closing high as sentiment was boosted by full FDA approval of a COVID-19 vaccine and market participants looked ahead to the Jackson Hole Symposium expected to convene later this week. All three major U.S. stock indexes ended the session sharply higher, with the S&P 500 in the session’s final minutes just failing to hold what would have been a record-high close on wall street...
At the end of the first weekday of trading on the Nairobi Securities Exchange (NSE) this week. A total of 20,527,400 shares in 1,198 deals, corresponding to a market value of KES 659,258,072.00, were traded. Compared with the previous NSE trading day (Friday, August 20), today’s data shows a 37% improvement in volume, 19% improvement in turnover, and 10% improvement in deals. The current market capitalization of the Nairobi Securities Exchange is KES 2.86 trillion....
Stocks in Asia-Pacific rose on Monday trade as Hong Kong’s Hang Seng index bounced back after falling into a bear market last week. The Hang Seng index rose 1.05% in afternoon trade, as shares of Chinese tech giant Tencent rose nearly 2% while Hong Kong Exchanges and Clearing surged more than 5%. Heavy losses last week left the Hang Seng index more than 20% below its mid-February high as regulatory uncertainty clouded the outlook for Chinese technology companies. Mainland Chinese stocks...
Gold prices inched lower on Monday as the dollar held near recent highs, although the losses were limited by growing concerns over the economic fallout from the spread of the delta coronavirus variant. Spot gold fell 0.1% to $1,779.12 per ounce by 0057 GMT, while U.S. futures for the yellow metal were down 0.2% to $1,780.40. The dollar traded near the 9-1/2-month high hit last week, denting gold’s allure for holders of other currencies. Dallas...
Oil prices reversed out of a seven-day losing stretch on Monday as investors punted on crude at bargain levels, though lingering fears over how a surge in global Covid-19 cases might affect fuel demand combined with a firmer U.S. dollar to limit gains. Brent crude futures climbed 60 cents, or 0.9%, to $65.78 a barrel by 0158 GMT, after hitting the lowest level since May 21 of $64.60 earlier in the session. U.S. West Texas Intermediate...
U.S Stocks, looked on as the global market's benchmark pulled back for the week but not before the S&P 500 Index reached a new record high of 4,480 on Monday afternoon, more than double its intraday low of 2,192 on March 23, 2020
At the end of the last weekday of trading on the Nairobi Securities Exchange (NSE) this week. A total of 14,969,200 shares in 1,089 deals, corresponding to a market value of KES 552,931,371.00, were traded. Compared with the previous NSE trading day (Thursday, August 19), today’s data shows a 47% decline in volume and a 56% decline in turnover. The current market capitalization of the Nairobi Securities Exchange is KES 2.83 trillion. In the aggregate,...
Oil prices were lower in the afternoon of Asia trading hours, with international benchmark Brent crude futures down 0.27% to $66.27 per barrel. U.S. crude futures declined about 0.1% to $63.61 per barrel.
Oil prices came off three-month lows on Friday but were on track for a weekly decline of around 6% as new lockdowns in countries with low vaccination rates facing surging cases of the delta variant dimmed the outlook for fuel demand. Broader investor risk aversion also weighed on oil with the U.S. dollar jumping to a nine-month high on signs the U.S. Federal Reserve is considering reducing stimulus this year. U.S. West Texas Intermediate (WTI) crude...
The International Monetary Fund (IMF) has said Afghanistan will no longer be able to access the lender’s resources, following the Taliban’s takeover of the country last weekend. An IMF spokesperson said it was due to “lack of clarity within the international community” over recognising a government in Afghanistan. Resources of over $370m (£268m) from the IMF had been set to arrive on 23 August as part of a global IMF response to the global economic...
Wall Street’s benchmark, the S&P 500 ended modestly higher in a choppy session on Thursday, with gains in tech shares countering losses in cyclical sectors, as investors took the pulse of the economic rebound and gauged when the Federal Reserve might temper its monetary stimulus. Tech also supported the Nasdaq, while economically sensitive sectors such as energy and materials were particularly weak. Data showed that the number of Americans filing new claims for unemployment benefits...
At the end of Thursday’s trading session on the Nairobi Securities Exchange (NSE). A total of 28,493,200 shares in 1,099 deals, corresponding to a market value of KES 1,248,341,612.00, were traded. Compared with the previous NSE trading day (Wednesday, August 18), today’s data shows 131% improvement in volume, 101% improvement in turnover, but 26% decline in deals. The current market capitalization of the Nairobi Securities Exchange is KES 2.8 trillion. In the aggregate, 45 NSE...
The U.S. dollar index, which tracks the greenback against a basket of its peers in Asia, was at 93.41 after a recent spike from below 92.8.
U.S. crude oil inventories fell 3.2 million barrels last week to 435.5 million barrels, their lowest since January 2020, the Energy Information Administration said on Wednesday.
KCB Group Plc has posted a strong performance in the first half of the year, driven by improved economic activity, robust revenues, and lower provisions charge. Profit after tax doubled to Kes.15.3 billion from Kes. 7.6 billion a year ago amid the effects of the ongoing COVID-19 pandemic. Revenues increased by 14% on account of higher interest income driven by an increase in earning assets and a lower cost of funding. KCB Group Key Financial...
Wall Street’s main indexes slid on Wednesday, with the S&P 500 falling over 1%, after the release of minutes from the Federal Reserve’s policy meeting last month showed officials felt the employment benchmark for decreasing support for the economy “could be reached this year.” Stocks accelerated their declines late in the session, pushing the S&P 500 down about 1.8% from its record closing high after its second straight daily drop. It was the benchmark index’s...
TotalEnergies Marketing Kenya, one of the biggest suppliers of Petroleum and Gas products in East Africa, has appointed Mr Eric Fanchini as a Director and as the new managing director.
At the end of today’s trading session on the Nairobi Securities Exchange A total of 12,331,800 shares in 1,479 deals, corresponding to a market value of KES 621,542,339.00, were traded. Compared with the previous NSE trading day (Tuesday, August 17), today’s data shows 47% decline in volume, 62% decline in turnover, but 2% improvement in deals. The current market capitalization of the Nairobi Securities Exchange is KES 2.83 trillion. In the aggregate, 46 NSE equities...
Wednesday’s delay on the Johannesburg Stock Exchange meant investors in Naspers, the biggest shareholder in Tencent, were unable to immediately trade in reaction to earnings from the Chinese company released after the market close in Hong Kong.
Shares in Asia were higher on Wednesday, with the Reserve Bank of New Zealand keeping interest rates unchanged despite expectations of a hike. In Japan, the Nikkei 225 rose 0.59% to close at 27,585.91 while the Topix index climbed 0.44% on the day to 1,923.97. Japan’s government on Tuesday decided to extend the Covid-19 state of emergency in Tokyo and other areas to Sept. 12, local news agency Kyodo News reported. Mainland Chinese stocks closed higher. The Shanghai...
TotalEnergies Kenya has reported a 50% increase in the half-year profit to Kes 1.7 billion for the period ended 30th June 2021 from Kes1.1 billion reported at the end of the first half of 2020. TotalEnergies attributed the good performance to the economic recovery witnessed in Kenya in the first half of this year, with the country gradually opening up. The company also reported an increase in sales revenue, diversified its revenue streams, and controlled...
Co-operative Bank has reported a net profit of Kes 7.4 billion for the half-year period ended 30th June 2021, a 2.3% increase from the Kes 7.2 billion posted during the same period last year. The growth was attributed to growth in interest and non-interest income. The increase came on the back of total operating income—made up of interest income and non-interest income—which increased by 20 % to Kes 29.2 billion during the first six months...
Oil prices steadied on Wednesday after four days of declines with investors still worried about the outlook for fuel demand as the use of rail, air and other forms of transport remained constrained amid surging COVID-19 cases worldwide. Brent crude was down 5 cents or 0.1% at $68.98 a barrel by 0139 GMT, having fallen 0.7% on Tuesday. U.S. oil lost 6 cents or 0.1% to $66.53 a barrel after dropping 1% in the previous session. “July oil...
Wall Street’s main indexes slid on Tuesday, with the S&P 500 logging its biggest one-day percentage fall in about a month, weighed down by a drop in U.S. retail sales that raised concerns about the economic recovery, as well as by disappointing results from Home Depot. Most of the S&P 500’s sectors finished lower, with consumer discretionary the weakest performer, falling 2.3%. Home Depot shares fell 4.3% during trading on wall street after the company’s...
At the end of today’s trading session on the Nairobi Securities Exchange A total of 23,432,900 shares in 1,445 deals, corresponding to a market value of KES 1,655,638,107.00, were traded. Compared with the previous NSE trading day (Monday, August 16), today’s data shows 128% improvement in volume, 240% improvement in turnover, and 32% improvement in deals. The current market capitalization of the Nairobi Securities Exchange is KES 2.85 trillion. In the aggregate, 48 NSE equities...
The Zimbabwe Stock Exchange (ZSE) has announced it is working on further increasing retail participation on the bourse as its newest product, the Exchange Traded Fund (ETF), scaled up by over 200 per cent six months after its introduction. In September 2020, the bourse introduced the ZSE Direct, which has made investments much easier for the retail market. Earlier this year, the Zimbabwe Stock Exchange (ZSE) also launched Old Mutual among the Top Ten Exchange...
Shares in Asia-Pacific declined on Tuesday, with Chinese internet stocks in Hong Kong falling again as regulatory fears resurfaced. By the Tuesday market close in Hong Kong, shares of Tencent dropped 4.14% while Alibaba plunged 4.77% and JD.com slipped 5.16%. The Hang Seng Tech index slipped 3.13% to 6,218.89. Those losses came after China’s market regulator issued draft rules on Tuesday aimed at stopping unfair competition on the internet. Hong Kong’s broader Hang Seng index fell 1.66% to 25,745.87. Mainland Chinese stocks led...
Equity Group Holdings Plc has recorded 98% growth in its profit after tax to Kes 17.9 Billion in H1, 2021 compared to Kes 9.1 Billion posted during the same period last year, defying the effects of the COVID-19 pandemic on the economy. Equity attributed the performance to significant growth in customer deposits, which pushed its balance sheet size to Kes 1.1 Trillion in H1, 2021, a 51% growth from KSh 746.5 Billion in H1, 2020. ”...
The Kenya Revenue Authority (KRA) has seen its rebound in tax revenue collections continue into the new financial year booking tax revenues of Kes.121.8 billion at the end of July, a 28.9 per cent rise in returns for the revenue agency from a lower Kes .94.5 billion collected last year according to new data from the National Treasury released on Friday. “We are of the view that the tax measures introduced at the front end...
Oil prices rose on Tuesday, recovering from the previous day’s losses, as investors sought bargains and on expectations that major producers will not boost supply soon, though fears of weaker global demand amid surging pandemic capped gains. Brent crude was up 13 cents, or 0.2%, at $69.64 a barrel by 0055 GMT, after falling 1.5% on Monday. U.S. oil climbed by 14 cents, or 0.2%, to $67.43 a barrel, having lost 1.7% the previous day. The rebound comes...
The benchmark S&P 500 and the Dow industrials hit record highs on Monday as investors moved into defensive sectors and stocks recovered from losses earlier in the session, shaking off glum economic data out of China. Economically sensitive groups such as energy, materials and financials were weaker after China’s factory output and retail sales growth slowed sharply and missed expectations in July, as new COVID-19 outbreaks and floods disrupted business operations. But healthcare gained 1.1%,...
At the end of the first weekday of trading on the Nairobi Securities Exchange. A total of 10,270,600 shares in 1,092 deals, corresponding to a market value of KES 487,466,064.00, were traded. Compared with the previous NSE trading day (Friday, August 13), today’s data shows 58% decline in volume, 62% improvement in turnover, and 5% improvement in deals. The current market capitalization of the Nairobi Securities Exchange is KES 2.78 trillion. In the aggregate, 47...
The Energy and Petroleum regulator(EPRA) has held fuel prices constant in its latest review, the second time in a row since its last price increase set in July 2021. The prices are set to prevail between August 15th and September 15th 2021. Daniel Kiptoo the Energy and Petroleum Regulatory Authority (EPRA) Director-General in a statement said the prices will remain constant, despite the rise in the landing costs. A litre of Petrol in Nairobi will...
Asia-Pacific stocks slipped on Monday as investors reacted to the release of Chinese economic data for July. Retail sales in China rose 8.5% in July as compared with a year ago, according to official data released Monday. That was far lower than the 11.5% rise forecast by analysts in a Reuters poll. Meanwhile, industrial production grew 6.4% in July, also falling short of expectations for a 7.8% year-on-year increase for the month, according to the Reuters poll....
Oil prices fell more than 1% on Monday, dropping for a third session after official data showed that refining throughput and economic activity slowed in China in an indicator that fresh COVID-19 outbreaks are crimping the world’s no.2 economy. Brent crude was down 80 cents, or 1.1 per cent, at USD 69.79 a barrel by 0046 GMT, after edging lower last week. US oil fell by 81 cents, or 1.2 per cent, to USD 67.63 a...
Limuru Tea recorded total revenue of Kes 47 million in the period ended 30th June 2021, an 8% decline as compared to Kes 51 million realised during the same period of 2020. The decline was attributed to lower production volumes and declining market prices. In the first half of 2021, the company reported they produced 1,901 Tons of green leaf, which in turn was manufactured into 433 Tons of black tea. This was a 6%...
Trading on the secondary bond market at the NSE posted a 2.99% decline in activity with Kes.21.99 billion worth of bonds traded against the Kes 22.66 billion worth of bonds transacted in the previous week.
Global markets were mixed for a second week running, with data indicating that markets from the west were trading higher while markets in Asia whipsawed through days of decline as Chinese traders remained cautious on concerns of a crackdown on various sectors by the regulators of the world’s largest economy. Apart from this, there were concerns over the rising numbers of coronavirus infections in the global zones, with china hitting past the 131 infections...
The Dow Industrial and S&P 500 edged up to closing records on Friday and notched a second straight week of gains, buoyed by a climb in Walt Disney shares, but a sharp drop in consumer sentiment kept gains in check. Walt Disney rose 1.00% as one of the biggest boosts to both the Dow and benchmark S&P index after its profit topped market expectations as its streaming services added more customers than expected and its...
At the end of the last weekday of trading on the Nairobi Securities Exchange A total of 24,287,800 shares in 1,043 deals, corresponding to a market value of KES 301,807,540.00, were traded. Compared with the previous NSE trading day (Thursday, August 12), today’s data shows 26% decline in volume, 19% improvement in turnover, and 8% improvement in deals. The current market capitalization of the Nairobi Securities Exchange is KES 2.75 trillion. In the aggregate, 48...
Huawei’s ranking in the global top 500 enterprises has improved to 44th this year, up from 49th in 2020. Huawei, the privately employee-owned firm, entered the list for the first time in 2010, ranking 397th, and by 2020, when Huawei leapt from 72nd to 49th place broke into the top 50 for the first time. The Fortune Global 500 annual ranking measures the business revenue of the top businesses across industries. The companies generated revenues...
Stanbic Holdings has recorded a 34.6 % rise in earnings through the first six months of the year, posting a profit of Kes.3.5 billion from Kes.2.6 billion recorded last year. The lender attributed the performance to improved operating income and lower costs. Stanbic Holdings recorded a decline in deposits from other banks and customers to Kes 259.9 Billion in the period ended 31st June 2021 compared to Kes 287 Billion recorded during the same period last...
South Korean and Taiwanese stocks led losses among major Asia-Pacific markets in Friday trade, with shares of firms related to conglomerate Samsung falling. The broader Kospi in South Korea closed 1.16% lower at 3,171.29 while the Taiex in Taiwan dropped 1.38% to finish the trading day at 16,982.11. Shares of South Korean industry heavyweight Samsung Electronics plunged 3.38% while Samsung C&T dropped 0.74%. Samsung Life Insurance fell 0.39% and Samsung SDS declined 1.96%. Those losses came after Samsung Electronics...
The International Finance Corporation (IFC) has partnered with FMO, a Dutch development bank, to assist small businesses in Kenya by providing funds for working capital, expansion, and to weather the COVID-19 crisis. IFC contributed $30 million and FMO contributed $20 million to the I&M loan. The funds will boost I&M’s capital position and enable the bank to lend to small and medium-sized enterprises in the manufacturing, trade, and construction sectors. According to information on the IFC website,...
Oil prices fell for a second day on Friday after the IEA warned that demand growth for crude and its products had slowed sharply as surging cases of Covid-19 worldwide has forced governments to revive restrictions on movement. Brent crude was down 31 cents, or 0.4%, at $71.00 a barrel by 0046 GMT, after dropping 13 cents in the previous session. U.S. crude was off by 33 cents, or 0.5%, at $68.76 a barrel, having fallen 0.2% on Thursday....
Trading volume has slumped on wall street, typical of August, as a stellar second-quarter earnings season winds down. Investors are now waiting for the Fed’s annual meeting in Jackson Hole, Wyoming, at month-end for clues on its plans to tighten policy.
The Johannesburg Stock Exchange (JSE) and FTSE Russell have once more partnered to launch a new multi-asset index solution for the South African market, leveraging the long-standing relationship between the two organisations and the rich base of the existing index offering. The JSE and FTSE Russell today announced that they have launched the FTSE/JSE Multi-Asset Composite Index, which offers investors a broad and integrated coverage of South African equities, fixed-income securities, listed property, and options...
At the end of today’s trading session on the Nairobi Securities Exchange. A total of 32,837,300 shares in 966 deals, corresponding to a market value of KES 253,455,645.00, were traded. Compared with the previous NSE trading day (Wednesday, August 11), today’s data shows 176% improvement in volume, 52% decline in turnover, but 1% improvement in deals. The current market capitalization of the Nairobi Securities Exchange is KES 2.75 trillion. In the aggregate, 46 NSE equities...
Xiaomi, the Chinese tech giant, is now set to receive payment from Bitcoin, Ethereum, Tether, and even Dash for the purchase of a smartphone, smartwatches, along with other smart home products and devices. Xiaomi has partnered up with Utrust, a Swiss cryptocurrency payment service provider, to support payment via digital assets in the region. “We are a technological, innovative and disruptive brand. That’s why we always want to be one step ahead. We want to...
Asia-Pacific stocks were mostly lower by the close on Thursday, as U.S. markets again notched highs after data showed inflation was not as bad as feared. The dollar weakened while Asian currencies rose. Chinese stocks closed in negative territory. The Shanghai Composite was down 0.22% to close at 3,524.74, while the Shenzhen component declined 0.79% to 14,901.97. Hong Kong’s Hang Seng index lost nearly 1%. In its Hong Kong debut, Chinese electric vehicle maker Li Auto’s shares dipped as much as...
Kenyans are set to pay more for bottled water, fuel, beer and juice starting October after the Kenya Revenue Authority (KRA) raised the excise duty rates on dozens of commodities in line with the rise in inflation recorded during the past year. “Kenya Revenue Authority would therefore like to inform manufacturers and importers of excisable goods falling under the specific rate category and members of the public that the Commissioner-General will adjust the rates of Excise...
CIC Insurance has reported a Kes 260 million net profit for the half-year period that ended on 30th June 2021, a reversal from a net loss of Kes 335.5 million reported during the same period in 2020. The improvement was attributed to the improved performance in the underwriting business and higher investment income. The company’s gross written premiums increased by 16% to Kes 10.8 billion from Kes 9.3 billion a year earlier. Its investment income...
Oil prices were steady on Thursday following two days of gains after a call from the United States, the world’s top oil consumer, for major producers to boost output reinforced supply concerns as economies ease their coronavirus restrictions. They were also boosted by a pullback in the U.S. dollar, which can send speculative investors into greenback-denominated assets like commodities. Brent crude futures edged higher by 8 cents, or 0.1%, to $71.52 a barrel by 0502...
Coinbase Global Inc climbed 3.24% on wall street after the cryptocurrency exchange beat market estimates for second-quarter profit, helped by a near 38% jump in trading volumes on a sequential basis.
At the end of today’s trading session on the Nairobi Securities Exchange A total of 11,895,500 shares in 953 deals, corresponding to a market value of KES 523,364,684.00, were traded. Compared with the previous NSE trading day (Tuesday, August 10), today’s data shows 44% decline in volume, 3% decline in turnover, and 24% decline in deals. The current market capitalization of the Nairobi Securities Exchange is KES 2.74 trillion. In the aggregate, 48 NSE equities...
Major Asia-Pacific markets closed mixed on Wednesday, while shares of China’s most indebted property developer Evergrande and some of its units soared. Chinese markets were muted. The Shanghai composite closed just above the flatline to 3,532.62, while the Shenzhen component was down 0.24% to 15,021.17. Hong Kong’s Hang Seng index rose 0.21% in the final hour of trade. Shares of China Evergrande jumped more than 8% in the afternoon after the company said in a filing that it was in...
If you are planning to visit Ghana in the near future or have recently relocated there, continue reading to find out which pastimes are common in the country.
Oil prices on Wednesday consolidated strong overnight gains as a bullish outlook for U.S. fuel demand outweighed concerns about mobility curbs in Asia with the spread of the highly infectious COVID-19 Delta variant. Industry data showed U.S. crude oil and gasoline inventories fell last week, while the U.S. Energy Information Administration raised its forecast for fuel demand in 2021 and said consumption in May through July was higher than expected. U.S. West Texas Intermediate (WTI) crude futures rose...
Gold prices edged lower on Wednesday, pressured by a stronger dollar and a rise in bond yields, while investors cautiously looked forward to U.S. inflation data that could influence the Federal Reserve’s timeline to taper monetary support. Gold prices remain extra sensitive to the central bank’s announcement and economic indicators. The recent US job data added another supportive pillar to the ongoing Fed’s tapering discussion. The US Dollar Index (DXY), which measures the performance of the greenback against...
Wall Street's Dow Jones Industrial Average rose 162.82 points, or 0.46%, to 35,264.67, the S&P 500 gained 4.4 points, or 0.10%, to 4,436.75 and the Nasdaq Composite dropped 72.09 points, or 0.49%, to 14,788.09.
The derivatives market of the NSE posted flat activity during Tuesday's trading session, with 19 single stock futures contracts valued at Kes 840,830 concluded
Local agri-business firm Kakuzi PLC has announced the appointment of an Independent Human Rights Advisory Committee (IHRAC) to be chaired by former Attorney General Prof Githu Muigai. With the appointment of the committee to its Board, Kakuzi PLC becomes the first corporate organization in Sub Sahara Africa to constitute and establish such an independent advisory panel benchmarked against the United Nations Guiding Principles on Business and Human Rights. In appointing the IHRAC, Kakuzi joins a...
Shares in Asia-Pacific were mostly higher on Tuesday. Meanwhile, South Korean game developer Krafton plunged in its debut. South Korea’s broader Kospi slipped 0.53% to close at 3,243.19. Shares of South Korean game developer Krafton slumped as much as 17% in Asian trading hours, from its IPO price on its market debut, according to Refinitiv Eikon data. Krafton, the game maker behind the blockbuster game PUBG, later pared some of those losses but still closed nearly 9%...
Oil prices rose on Tuesday, edging up from a three-week low in the previous session, but gains are likely to be limited on worries that rising Covid-19 cases and restrictions in China will dent fuel demand. Brent crude was up by 30 cents, or 0.4%, at $69.34 a barrel by 0106 GMT, after falling 2.3% on Monday. U.S. oil was up by 43 cents, or 0.7, at $66.91 a barrel, having fallen by 2.6% in the previous session. China on...
SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, said its holdings fell 0.2% to 1,023.54 tons on Monday from 1,025.28 tons on Friday.
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