At the end of today’s trading session on the Nairobi Securities Exchange A total of 28,282,200 shares in 1,324 deals, corresponding to a market value of KES 1,138,832,773.00, were traded. Compared with the previous NSE trading day (Monday, November 29), today’s data shows 18% improvement in volume, 76% improvement in turnover, and 12% improvement in deals. The current market capitalization of the Nairobi Securities Exchange is KES 2.48 trillion. In the aggregate, 46 NSE equities...
Major Asia-Pacific markets fell in Tuesday trade as investors in the region continued to track developments surrounding the omicron variant. Major markets in the region fell after Moderna CEO Stephane Bancel told the Financial Times that he expects existing vaccines to be less effective against the new variant. Bancel told CNBC on Monday that it could take months to develop and ship an omicron specific vaccine. Hong Kong’s Hang Seng index was among the region’s biggest losers, falling about 1.8% as of...
The demand for electricity in Kenya hit a new record this week rising to a peak of 2,036MW, the highest ever recorded in history, marking a significant resurgence in demand since the onset of the COVID-19 pandemic in March 2020. At the same time, the country recorded a new energy gross demand peak of 36,381MWh mostly drawn from renewable energy sources as the economy responds positively to the lifting of some of the COVID-19 related...
I&M Group has reported its financial results for the third quarter of 2021 with Profit after tax (PAT) surging 25.1% to Kes 5.4 Billion mainly on the back of a 34.5% growth in net interest income to Kes 14 Billion. The lender attributed the growth in earnings to increased net interest income and its share of joint venture profit. “These results showcase the positive outcome of our strategy to drive business growth, build resilience and...
Oil prices gave up gains on Tuesday, falling more than 2% along with broader financial markets after a media report cast doubt on the efficacy of COVID-19 vaccines against the Omicron coronavirus variant. The head of drugmaker Moderna told the Financial Times that COVID-19 vaccines are unlikely to be as effective against the Omicron variant of the coronavirus as they have been against the Delta variant. Both benchmarks tumbled more than $1 on the news. Brent...
At the end of the first weekday of trading on the Nairobi Securities Exchange A total of 23,949,600 shares in 1,181 deals, corresponding to a market value of KES 645,628,212.00, were traded. Compared with the previous NSE trading day (Friday, November 26), today’s data shows 65% decline in volume, 74% decline in turnover, and 3% decline in deals. The current market capitalization of the Nairobi Securities Exchange is KES 2.5 trillion. In the aggregate, 47...
Major markets in Asia-Pacific largely fell on Monday as investors continue to monitor developments surrounding the recently discovered omicron Covid variant. Hong Kong’s Hang Seng index slipped 0.95% to close at 23,852.24. Hong Kong-listed shares of Chinese tech giant Meituan lost 7% after the firm on Friday posted a loss of about 10 billion Chinese yuan ($1.56 billion) for the three months ended Sept. 30. Shares of Sun Entertainment Group in Hong Kong sank 30.97% after the South China Morning Post reported...
The Board of Directors of the Nairobi Securities Exchange have declared a special dividend of Kes 0.50 per ordinary share at its meeting held on 26th November 2021. The board has fixed 17th December 2021 as the record date for determining the members entitled to receive the special dividend. “The payment is subject to witholding tax, where applicable and will be paid by 31st December 2021 to members on the register at the close of...
Housing Finance (HF Group) has narrowed its net loss by 22 per cent to Kes 569.91 million in the nine months to September, helped by growth in non-interest income and a drop in operating expenses. The Nairobi Securities Exchange-listed firm had posted a net loss of Kes 730.21 million in the same period last year. HF Group recorded 12.2 per cent growth in non-interest income, which includes fees and commission charged on loans, to Kes...
Tanzania’s central bank has announced intentions to launch its central bank digital currency (CBDC) amid the global rise and the increasing adoption of cryptocurrencies. The country’s Central Bank Governor Prof Florens Luoga made these comments while speaking last week at a two-day Conference of Financial Institutions in Tanzania held on 25th and 26th November 2021 which focused on economic recovery post-Covid-19. The conference was also attended by the country’s pro-crypto President Samia Sulu. “To ensure that...
Oil prices rebounded on Monday as investors looked for bargains after Friday’s slump and on speculation that OPEC+ may pause an output increase in response to the spread of Omicron, but the mood remained cautious with little known about the new variant. Brent crude futures climbed $3.11, or 4.3%, to $75.83 a barrel by 0355 GMT, after falling $9.50 on Friday. U.S. West Texas Intermediate (WTI) crude was up $3.47, or 5.1%, at $71.62 a...
Chinese markets weakened in line with other global markets, with the CSI index easing 0.6% and the Shanghai Composite Index ending flat amid U.S.-China tensions and rising economic pressures that raised expectations for supportive government measures.
At the end of the last weekday of trading on the Nairobi Securities Exchange A total of 68,021,400 shares in 1,213 deals, corresponding to a market value of KES 2,501,308,775.00, were traded. Compared with the previous NSE trading day (Thursday, November 25), today’s data shows 72% improvement in volume, 64% improvement in turnover, but 6% decline in deals. The current market capitalization of the Nairobi Securities Exchange is KES 2.5 trillion. In the aggregate, 46...
Shares in Asia-Pacific dropped on Friday, with stocks in Hong Kong and Japan leading losses regionally as fears of a new Covid variant weighed on investor sentiment. World Health Organization officials said Thursday they are monitoring a new variant with “a large number of mutations.” A special meeting is scheduled for Friday to discuss its implications for vaccines and treatments. Hong Kong’s Hang Seng index saw sharp losses on Friday, falling 2.67% to close at 24,080.52. The variant...
Kenya’s financial services group Britam Holdings has announced the shock resignation of its managing director, Tavaziva Madzinga, after less than one year in office. The announcement comes barely 10 months after he joined the company on 1st February 2021 following the retirement of Dr Benson Wairegi who had served in the company for more than four decades. In a statement, Britam said thatTavaziva Madzinga will officially exit the listed firm in April 2022 to pursue another business...
Oil prices slid more than 2% on Friday on concerns that a global supply surplus could swell in the first quarter following a U.S.-led coordinated release of crude reserves among major consumers and as a new COVID-19 variant spooked investors. Brent crude futures extended declines for a third session, falling $1.69, or 2.1%, to $80.53 a barrel by 0327 GMT. U.S. West Texas Intermediate (WTI) crude was down $2.04, or 2.6%, at $76.35 a barrel....
At the end of today’s trading session on the Nairobi Securities Exchange A total of 39,505,200 shares in 1,284 deals, corresponding to a market value of KES 1,522,818,731.00, were traded. Compared with the previous NSE trading day (Wednesday, November 24), today’s data shows 26% improvement in volume, 59% improvement in turnover, and 31% improvement in deals. The current market capitalization of the Nairobi Securities Exchange is KES 2.46 trillion. In the aggregate, 44 NSE equities...
Crypto currencies counters in the Indian exchanges plunged sharply after the reports said the government is coming out with a bill that will ban most private tokens. Bitcoin fell as much as 17 per cent, Ethereum was down 14 per cent, Dogecoin over 20 per cent and Polkadot 14 per cent. Even dollar-pegged token Tether was down nearly 17 per cent. Currently, bitcoin is exchanging hands at $58,078.62 a 2.83% 24-hour gain compared to the...
Shares in Asia-Pacific were mixed on Thursday as investors reacted to the Bank of Korea’s rate decision. South Korea’s Kospi dipped 0.47% to close at 2,980.27 after the Bank of Korea raised its policy rate by 25 basis points to 1%, a move that was largely expected by analysts in a Reuters poll. Following the decision, the Korean won traded 1,189.89 per dollar, weaker than levels around 1,185 seen against the greenback yesterday. The South Korean central bank’s decision followed a similar...
NCBA Group Plc has posted a 159 % growth in profits for the first nine months of the year ended September 30. According to the lender’s results, net earnings in the group grew to Kes 6.5 billion during the period under review compared to Kes 2.5 billion posted during a similar period last year. NCBA Group managing director, John Gachora said the strong financial results are early outcomes of the Group’s focus on its strategic...
Oil prices ticked lower on Thursday with investors waiting to see how major producers respond to the emergency crude release by major consuming countries designed to cool the market, even as data pointed to healthy U.S. fuel demand. U.S. West Texas Intermediate (WTI) crude futures fell 9 cents, or 0.1%, to $78.30 a barrel at 0201 GMT, extending an 11 cent loss on Wednesday. Brent crude futures slipped 5 cents to $82.20 a barrel, after losing 6...
Nvidia rallied 2.9% on wall street as it bounced back from a selloff in Big Tech stocks early this week. The graphics chipmaker is now up about 150% in 2021.
At the end of today’s trading session on the Nairobi Securities Exchange A total of 31,376,400 shares in 980 deals, corresponding to a market value of KES 960,661,364.00, were traded. Compared with the previous NSE trading day (Tuesday, November 23), today’s data shows 163% improvement in volume, 145% improvement in turnover, and 6% improvement in deals. The current market capitalization of the Nairobi Securities Exchange is KES 2.45 trillion. In the aggregate, 45 NSE equities...
Shares in Asia-Pacific were mixed on Wednesday, with Japanese stocks leading losses regionally. The Nikkei 225 in Japan fell 1.58% to close at 29,302.66 while the Topix index declined 1.16% to 2,019.12. Markets in Japan were closed on Tuesday for a holiday. South Korea’s Kospi dipped 0.1% on the day to 2,994.29. Hong Kong’s Hang Seng index rose 0.54% as of its final hour of trading. Mainland Chinese stocks finished the trading day mixed, with the Shanghai composite rising 0.1% to 3,592.70 and...
Jumia, Africa’s leading e-commerce platform, today announced the appointment of one of Africa’s most powerful and influential women in Kenya, Betty Mwangi, as Kenya’s new Chief Executive Officer. She takes over the leadership mantle from former CEO Sam Chappatte. Betty Mwangi is set to focus on accelerating corporate growth as the company continues to expand its already strong position as the number one shopping online platform. She was recognized as one of the Top 10...
Oil prices fell on Wednesday as the U.S.-led coordinated release of stocks from strategic reserves eased concerns over tightness in global supply, while investors took profits from the previous day’s rally ahead of the U.S. Thanksgiving holiday. U.S. West Texas Intermediate (WTI) crude futures fell 12 cents, or 0.2%, to $78.38 a barrel at 0122 GMT, reversing out of a 2.3% gain in the previous day. Brent crude futures slid 32 cents, or 0.4%, to $81.99 a...
The Nasdaq ended lower for a second straight session on Tuesday, while the S&P 500 rose, as rising Treasury yields prompted investors to sell Tesla and other Big Tech names.
At the end of today’s trading session on the Nairobi Securities Exchange A total of 11,929,500 shares in 923 deals, corresponding to a market value of KES 391,616,835.00, were traded. Compared with the previous NSE trading day (Monday, November 22), today’s data shows 36% decline in volume, 33% decline in turnover, and 8% decline in deals. The current market capitalization of the Nairobi Securities Exchange is KES 2.48 trillion. In the aggregate, 44 NSE equities...
Shares in Asia-Pacific were mixed on Tuesday as investors watched for market reaction to U.S. President Joe Biden picking Jerome Powell for a second term as Federal Reserve chair. Hong Kong’s Hang Seng index declined more than 1% as of its final hour of trading. Mainland Chinese stocks closed mixed, with the Shanghai composite up 0.2% to 3,589.09 while the Shenzhen component slipped 0.371% to 14,905.13. South Korea’s Kospi dipped 0.53% to close at 2,997.33, with shares of biopharmaceutical firm Celltrion plunging 6%. The S&P/ASX 200 in Australia closed 0.78%...
Absa Bank Kenya’s net profit increased sharply to Kes 8.2 billion in the nine months ended September as provision for bad debt fell sharply. The lender’s net income rose 328.2 per cent from Kes 1.9 billion a year earlier attributed to the decline in provision for defaults by 55.2 % to Kes 3.4 billion. The lower provision came despite the stock of gross defaults increasing by Kes 2.8 billion to Kes 19.6 billion. Absa says...
Oil prices dropped on Tuesday, reversing gains in the previous session, on growing talk the United States, Japan and India will release crude reserves to tame prices despite the threat of demand faltering as Covid-19 cases flare-up in Europe. The U.S. Department of Energy is expected to announce a loan of oil from the Strategic Petroleum Reserve on Tuesday, and will be coordinated with other countries, a Biden administration source familiar with the situation said....
In extended trade, Zoom Video Communications jumped 6% on the Nasdaq after the video-conferencing company posted quarterly revenue that beat expectations.
At the end of the first weekday of trading on the Nairobi Securities Exchange A total of 18,614,400 shares in 1,004 deals, corresponding to a market value of KES 585,806,644.00, were traded. Compared with the previous NSE trading day (Friday, November 19), today’s data shows 35% decline in volume, 31% decline in turnover, and 22% decline in deals. The current market capitalization of the Nairobi Securities Exchange is KES 2.5 trillion. In the aggregate, 45...
Mortgage lender Housing Finance (HF Group) has appointed its credit director Peter Mugeni Oduori as the managing director, effective November 17, 2021. Peter Mugeni is a seasoned banker, with 20 years of experience in leadership, credit risk management and operations, as well as leading large teams both regionally and across Africa. “Through his experience, he has formulated and implemented business strategies that have made significant turnaround impacts to the organizations he has worked for,” the...
Shares in Asia-Pacific were mixed on Monday as China kept its benchmark lending rate unchanged. The Hang Seng index in Hong Kong dipped 0.39%, closing at 24,951.34. Hong Kong-listed shares of JD.com and NetEase gained 1.93% and 3.02%, respectively, following a Friday announcement that the two stocks are set to be included in the benchmark Hang Seng index from Dec. 6. In mainland China, the Shanghai composite rose 0.61% to close at 3,582.08 while the Shenzhen component advanced 1.411% to 14,960.66. China on Monday kept the one-year...
The International Monetary Fund (IMF) has approved a zero-rated $372.4 million loan for Tanzania, aimed at supporting the country’s COVID-19 pandemic relief measures. President Suluhu this week hosted the World Bank’s Managing Director for Development Policy and Partnerships Mari Pangestu at State House in Dar es Salaam, in what officials described as a follow-up to the face-to-face talks she held with the bank’s president David Malpass on the sidelines of the UN General Assembly in...
Japanese Prime Minister Fumio Kishida signalled on Saturday he was ready to help counter soaring oil prices following a request from the United States to release oil from its emergency stockpile.
Global markets are up roughly 25% so far this year, and its path to get here has been nearly stumble-free, with just one 5% dip along the way.
Chipmaker Nvidia Corp rose 4.1% on the Nasdaq, to its third straight closing high, and the Philadelphia semiconductor index, up 0.3%, hit its third record closing high in four.
At the end of the last weekday of trading on the Nairobi Securities Exchange A total of 28,570,100 shares in 1,289 deals, corresponding to a market value of KES 849,668,934.00, were traded. Compared with the previous NSE trading day (Thursday, November 18), today’s data shows 193% improvement in volume, 150% improvement in turnover, and 41% improvement in deals. The current market capitalization of the Nairobi Securities Exchange is KES 2.56 trillion. In the aggregate, 47...
Asian markets were mainly lower on Friday as Hong Kong shares slumped, extending losses from the previous session as some of China’s biggest tech names remained under pressure. The benchmark Hang Seng index declined 1.07% to 25,049.97 while the tech-focused Hang Seng tech index dropped 0.26% to 6,457.97. Alibaba shares listed in Hong Kong dropped more than 10% after the technology behemoth missed revenue and earnings expectations for the September quarter, as slowing economic growth in China weighed on results....
Kapchorua Tea Kenya, a listed firm engaged in the cultivation, manufacture and sale of tea, leapt from a loss-making territory to net earnings of Kes 25.7 Million at the close of its half-year ended 30th September 2021. This is compared to a net loss of Kes 12.7 Million over a similar period last year. The firm’s pre-tax profit also hit Kes 36.6 Million compared to a pre-tax loss of Kes 16.9 Million at the end...
Oil prices rose on Friday, after wild swings the day before, on investor concerns that potential coordinated releases by the world’s major economies of their official crude reserves to try to lower prices may have less of an impact than expected. Brent crude was up 53 cents, or 0.7%, at $81.77 a barrel by 0437 GMT, after falling to a six-week low on Thursday before rebounding to close 1.2% higher. U.S. West Texas Intermediate (WTI)...
At the end of today’s trading session on the Nairobi Securities Exchange A total of 9,761,700 shares in 911 deals, corresponding to a market value of KES 339,253,272.00, were traded. Compared with the previous NSE trading day (Wednesday, November 17), today’s data shows 41% decline in volume, 52% decline in turnover, and 14% decline in deals. The current market capitalization of the Nairobi Securities Exchange is KES 2.57 trillion. In the aggregate, 41 NSE equities...
Co-op Bank of Kenya has posted a Net Profit of Kes 11.6 Billion in the nine months period ending September 30th, 2021 compared to net earnings of Kes 9.8 Billion over a similar period last, an improvement of 18.4%. The lender’s earnings were boosted by an increase in loans to customers as well as an improvement in customer deposits. Co-op Bank of Kenya had its Net Loans to Customers increase to Kes 306.3 Billion in...
Asia-Pacific markets traded mixed on Thursday, following overnight losses on Wall Street, as shares in Japan, Hong Kong and the Chinese mainland struggled for gains. Hong Kong’s Hang Seng Index fell 1.29% to 25,319.72 while the Nasdaq-style technology board, Hang Seng tech index, sold off nearly 3%. Some of the major tech names listed in Hong Kong declined sharply: Alibaba was down 5.34%, Meituan fell 2.46%, JD was down 3.58%, Tencent declined 2.4% and Baidu fell 7.84%. In the previous Asian Trading session, Baidu reported third-quarter revenue above...
KCB Group more than doubled its Net Earnings to Kes 25.2 Billion at the end of the nine months period ending September 2021, an increase of 131% from Kes 10.9 Billion over a similar period last year. This makes KCB Group the second most profitable lender in Kenya. The lender attributes this strong financial performance to higher income and reduced provisions to cover for non-performing loans as the banking business made an accelerated recovery from...
Oil prices fell on Thursday, adding to an overnight plunge as China said it was moving to release reserves following a Reuters report that the United States was asking big crude consumers to consider a coordinated release of stocks to lower prices. The bid by the U.S. administration to shock markets comes as inflationary pressures, partly driven by surging energy prices, starts to produce a political backlash, as the world fitfully recovers from the worst...
At the end of today’s trading session on the Nairobi Securities Exchange A total of 16,502,200 shares in 1,065 deals, corresponding to a market value of KES 701,323,091.00, were traded. Compared with the previous NSE trading day (Tuesday, November 16), today’s data shows 399% improvement in volume, 950% improvement in turnover, and 6% improvement in deals. The current market capitalization of the Nairobi Securities Exchange is KES 2.58 trillion. In the aggregate, 41 NSE equities...
Declines across Asia-Pacific stocks were seen by Wednesday’s close, with data showing Japan’s exports growth hit an eight-month low. Markets in the U.S., however, were lifted on the back of stronger-than-expected retail sales data. Australia and South Korea led losses in the region. In Australia, the S&P/ASX 200 fell 0.68% to close at 7,369.90. Financial stocks were lower, with the Commonwealth Bank of Australia leading losses as its shares plummeted more than 8%. News in the region may help...
Kenya’s debt service costs, which are expected to surge by 22% this fiscal year, are set to rise even further as the Kenya Shilling sank to all-time lows of Kes 112.100 against the US Dollar, reports by Bloomberg Africa indicate. The latest Central Bank of Kenya (CBK) weekly bulletin shows that the Kenya Shilling exchanged at Kes 111.77 per US dollar on November 11, compared to Kes 111.44 per US dollar on November 4, 2021....
Oil prices dropped on Wednesday after U.S. gasoline stocks fell more than expected last week, which could heighten pressure on the Biden administration to release oil from emergency reserves to cap soaring gasoline prices. U.S. West Texas Intermediate (WTI) crude futures fell 76 cents, or 0.9%, to $80.00 a barrel at 0211 GMT, extending a 12 cent loss from Tuesday. Brent crude futures fell 72 cents, or 0.9%, to $82.71, erasing a 38 cent gain...
The positive data helped wall street investors look past comments from St. Louis Federal Reserve President James Bullard, who called for a more hawkish stance by the central bank in response to rising inflation.
At the end of today’s trading session on the Nairobi Securities Exchange A total of 3,306,600 shares in 1,009 deals, corresponding to a market value of KES 66,769,468.00, were traded. Compared with the previous NSE trading day (Monday, November 15), today’s data shows 74% decline in volume, 88% decline in turnover, and 8% decline in deals. The current market capitalization of the Nairobi Securities Exchange is KES 2.59 trillion. In the aggregate, 46 NSE equities...
Bitcoin and other cryptocurrencies fell sharply on Tuesday retreating from near-record highs. The world’s largest digital coin fell toward $60,000 during late morning trade Singapore time. It recovered some of those losses and was trading at around $60,542 at 9:26 a.m. London time (4:26 a.m. ET), according to Coin Metrics data, is down 5% from 24 hours before. Currently, Bitcoin is trading at $60,548, 7.66% 24hour decline as of 2.00 P.M East African Time Ether, the...
Shares in Asia-Pacific were mixed on Tuesday as investors reacted to a virtual meeting between U.S. President Joe Biden and Chinese President Xi Jinping. Hong Kong’s Hang Seng index closed 1.27% higher at 25,713.78. Shares of gaming hardware firm Razer in Hong Kong surged 11.46% after Reuters reported, citing sources, that executives at the firm are leading a consortium plan to value the company at up to 35 billion Hong Kong dollars (about $4.49 billion). Mainland Chinese stocks ended the trading day lower, with the Shanghai...
Standard Chartered Bank Kenya (StanChart) has reported a 46.7 per cent jump in net profit for the nine months to September, helped by an increase in foreign exchange earnings and reduced operating expenses. The Nairobi Securities Exchange-listed bank recorded Kes 6.35 billion in profit after tax from Kes 4.33 billion posted in a similar period last year. The growth has been attributed to a 33.8 per cent rise in foreign currency trading to Kes. 2.53...
Oil rebounded from a weak start on Tuesday as worries over tight inventories underpinned prices, although optimism was limited by fears over demand following a pickup in COVID-19 cases in Europe. Brent futures added 96 cents, or 1.2%, to $83.01 a barrel, as of 0712 GMT. while U.S. West Texas Intermediate (WTI) crude climbed 80 cents, or 1%, to $81.68 a barrel. “At these oil prices, supply is going to grow but it might take...
Wall Street indices closed out Monday’s session near the unchanged mark as rising Treasury yields dented the appetite for technology stocks,
At the end of the first weekday of trading on the Nairobi Securities Exchange A total of 12,740,300 shares in 1,097 deals, corresponding to a market value of KES 540,820,127.00, were traded. Compared with the previous NSE trading day (Friday, November 12), today’s data shows 16% decline in volume, 18% improvement in turnover, and 3% improvement in deals. The current market capitalization of the Nairobi Securities Exchange is KES 2.59 trillion. In the aggregate, 48...
Nearly 20 Kenya-based companies have been blacklisted by the World Bank and the African Development Bank (AfDB), in less than two years, over fraud and quality concerns in projects funded by the multilateral lenders. Recently, the World Bank blacklisted Africa Development Professional Group (ADP), a Kenyan consultancy firm that has undertaken several multimillion shilling projects for top government agencies over fraud. The multilateral lender said an investigation conducted by its corruption-fighting unit had established that...
Shares in Asia-Pacific were mixed on Monday as investors reacted to the latest Chinese economic data for October. Mainland Chinese stocks closed lower, with the Shanghai composite slipping 0.16% to 3,533.30 while the Shenzhen component dipped 0.469% to 14,636.39. Hong Kong’s Hang Seng index sat little changed, as of its final hour of trading. The losses in mainland China came despite Chinese economic data coming in better than expected. Data released Monday showed retail sales in China rose 4.9% year-on-year...
Fuel prices will remain the same in this month’s EPRA review even with rising crude oil costs, subsidized by the Petroleum Development Levy. The State is set to pay marketers billions of shillings through a fuel subsidy to keep pump prices unchanged and ease public anger over the rising cost of living. Marketers will fully be compensated for their margins of Kes 12.39 per litre of super petrol and Kes 12.36 for diesel. Hence prices...
Crude oil prices skidded on Monday, under pressure from expectations of higher supplies and weakening demand. Brent crude futures fell 58 cents, or 0.7%, to $81.59 a barrel, as of 0151 GMT. U.S. West Texas Intermediate (WTI) crude lost 58 cents, or 0.7%, to $80.21 a barrel. Both markets have dropped for the last three weeks, hit by a strengthening dollar and speculation that President Joe Biden’s administration might release oil from the U.S. Strategic Petroleum Reserve to cool prices. “The...
The week ended mixed for global markets backed by inflation concerns and the risks of default from Chinese real estate companies led by China Evergrande and Kaisa Holdings Limited.
At the end of the last weekday of trading on the Nairobi Securities Exchange A total of 15,209,900 shares in 1,063 deals, corresponding to a market value of KES 456,959,378.00, were traded. Compared with the previous NSE trading day (Thursday, November 11), today’s data shows 48% decline in volume, 61% decline in turnover, and 38% decline in deals. The current market capitalization of the Nairobi Securities Exchange is KES 2.6 trillion. In the aggregate, 47...
Shares in Asia-Pacific advanced on Friday as technology shares mostly rose, following overnight gains for their counterparts on Wall Street. Hong Kong-listed shares of JD.com soared nearly 5% following the Singles Day online shopping event, while Alibaba dropped 0.67%. Both companies set new sales records across their platforms on Singles Day. Meanwhile, Hong Kong-listed shares of Chinese chip maker Semiconductor Manufacturing International Corporation dropped 4.47% after the firm said a top executive and multiple board members resigned. The Hang Seng Tech index gained...
Mortgage lender HF Group has formally started the hunt for a strategic investor after it invited suitors to place their bids. HF Group chief executive Robert Kibaara said Thursday the Nairobi Securities Exchange (NSE) listed financier had launched the search for a strategic investor in a regulatory filing to shareholders. “HF Group Plc has commenced the process of inviting strategic investors to acquire a stake in the Company as disclosed in the published 2020 financial...
Oil prices slipped on Friday, wiping out gains from the previous session, as the dollar continued to rise on bets the U.S. central bank will bring forward plans to raise rates to tame inflation. U.S. West Texas Intermediate (WTI) crude futures fell 58 cents, or 0.7%, to $81.01 a barrel at 0509 GMT, reversing Thursday’s 25 cent gain. Brent crude futures dropped 65 cents, or 0.8%, to $82.22 a barrel. “The greenback may hold its...
Tesla Inc extended its decline, shedding 0.4% during trading on wall street following news that CEO Elon Musk sold about $5 billion of the stock in the company over the last few days, following his infamous Twitter poll.
At the end of today’s trading session on the Nairobi Securities Exchange A total of 29,285,100 shares in 1,722 deals, corresponding to a market value of KES 1,182,002,888.00, were traded. Compared with the previous NSE trading day (Wednesday, November 10), today’s data shows 47% improvement in volume, 63% improvement in turnover, and 61% improvement in deals. The current market capitalization of the Nairobi Securities Exchange is KES 2.62 trillion. In the aggregate, 49 NSE equities...
Kenya Electricity Generating Company PLC (KenGen) has completed drilling the deepest geothermal well in Ethiopia reaching a depth of 3,000 meters, surpassing a target of 2,750 meters. This marks the second of eight geothermal wells KenGen has been contracted to drill for the state-owned electricity producer, Ethiopia Electric Power Company which was delivered successfully amid the COVID-19 pandemic. “We are happy to see our teams deliver the same level of success in the Horn of...
Asia-Pacific stocks were mixed on Thursday after data released overnight showed U.S. consumer inflation spiked in October. Shares of China Evergrande Group listed in Hong Kong surged 6.75%, following a report from Chinese media outlet Cailianshe that several bondholders received coupon payments from the debt-ridden developer. Other real estate stocks in Hong Kong also rose, with China Vanke gaining 6.73% while Country Garden advanced 5.39%. The Hang Seng Properties index gained 2.65% to 31,674.34. The stock gains followed reports...
Kenya is exploring the use of central bank digital currency (CBDC) to settle cross-border payments according to the country’s Central Bank Governor Dr Patrick Njoroge. A Central bank digital currency (CBDC) is money that exists solely in electronic form, issued and regulated by the nation’s monetary authority and backed by the government. Speaking on the sidelines of the Afro-Asia Fintech festival which was held virtually, Dr Patrick Njoroge said that (CBDCs) can slash the time needed for...
Oil prices slumped on Thursday, hit by a surge in the dollar after U.S. President Joe Biden said his administration was looking for ways to reduce energy costs amid a broader surge in inflation. Brent and U.S. crude futures dropped sharply at the end of the session as traders sold out of riskier assets, including stocks and commodities, driven by expectations that central bankers will take steps to curb rising prices. Consumer inflation data on...
All three major wall street indices fell, extending their losses throughout the trading day and adding to Tuesday’s sell-off which snapped the S&P 500’s and Nasdaq’s eight-session runs of all-time closing highs.
At the end of today’s trading session on the Nairobi Securities Exchange A total of 19,915,500 shares in 1,072 deals, corresponding to a market value of KES 727,255,839.00, were traded. Compared with the previous NSE trading day (Tuesday, November 9), today’s data shows 34% decline in volume, 25% decline in turnover, and 16% decline in deals. The current market capitalization of the Nairobi Securities Exchange is KES 2.62 trillion. In the aggregate, 47 NSE equities...
Shares in Asia-Pacific were mixed on Wednesday as investors reacted to the release of Chinese inflation data for October. Hong Kong’s Hang Seng index gained 0.74% to close at 24,996.14. Shares of Chinese real estate firm Fantasia Holdings in Hong Kong plunged 36.61% after returning to trade. Fantasia — whose Hong Kong-listed stock was suspended for more than a month — failed to repay a $206 million bond that matured in early October. Other real estate shares listed...
Safaricom Plc on Wednesday released its unaudited results for the six months ended 30 September 2021 with net profit for the period rising by 12.1% to Kes 37.056 Billion compared to Kes 33.07 Billion posted in a similar period a year ago. Profit before tax was up by 22.1% to Kes 77.4 Billion compared to Kes 63.4 Billion posted as of 30th September 2020. The company’s total revenue for the period rose by 17.5% to...
Oil prices rose on Wednesday, extending strong gains in the previous session, after industry data showed U.S. crude stocks unexpectedly fell last week just as near term travel demand picked up with pandemic curbs easing. U.S. West Texas Intermediate (WTI) crude futures rose 23 cents, or 0.3%, to $84.38 a barrel at 0132 GMT, adding to a 2.7% gain on Tuesday. Brent crude futures jumped 36 cents, or 0.4%, to $85.14 a barrel, after rising 1.6% on Tuesday....
Wall Street closed lower on Tuesday, ending a multi-day rally of consecutive record closing highs as profit-taking and worries over ongoing inflation fueled a broad sell-off.
At the end of today’s trading session on the Nairobi Securities Exchange A total of 30,271,500 shares in 1,272 deals, corresponding to a market value of KES 974,892,582.00, were traded. Compared with the previous NSE trading day (Monday, November 8), today’s data shows 347% improvement in volume, 531% improvement in turnover, and 2% improvement in deals. The current market capitalization of the Nairobi Securities Exchange is KES 2.6 trillion. In the aggregate, 45 NSE equities...
Shares in Asia-Pacific were mixed on Tuesday following overnight gains on Wall Street that took the major indexes to record closing highs. Meanwhile, bitcoin touched a record high.
Oil prices rose for a third straight session on Tuesday as the passage of a U.S. infrastructure bill, Chinese exports and the global post-pandemic recovery lifted the outlook for fuel demand.
At the end of the first weekday of trading on the Nairobi Securities Exchange A total of 6,768,200 shares in 1,244 deals, corresponding to a market value of KES 154,413,926.00, were traded. Compared with the previous NSE trading day (Friday, November 5), today’s data shows 13% decline in volume, 46% decline in turnover, but 26% improvement in deals. The current market capitalization of the Nairobi Securities Exchange is KES 2.59 trillion. In the aggregate, 48...
Equity Group Holdings Plc has posted an increase of 85% in Pre-tax profit to Kes 36.6 Billion in the third quarter period ended 30th September 2021. This is compared to a Pre-tax profit of Kes 19.7 Billion in the same period in 2020. The lender saw its net earnings increase 79% from Kes 15.0 Billion to Kes 26.9 Billion. The bulk of this growth came from its subsidiaries with total assets recording a growth of...
Shares in Asia-Pacific were mixed on Monday as investors reacted to China’s trade data released over the weekend. Mainland Chinese stocks recovered from earlier losses to close higher, with the Shanghai composite up 0.2% to 3,498.63 while the Shenzhen component climbed 0.32% to 14,508.86. Hong Kong’s Hang Seng index dipped around 0.4% as of its final hour of trading. South Korea’s Kospi closed 0.31% lower at 2,960.20. The Nikkei 225 in Japan slipped 0.35% to close at 29,507.05 while...
The Kenya Shilling has been on a losing streak against the U.S Dollar in what analysts and forex traders attribute to strong dollar demand especially from oil importers and weak inflows. Figures from the Central Bank of Kenya (CBK) shows that when trading at the forex markets opened on Friday, 5th November 2021, the Kenya Shilling was quoted at a mean rate of Kes111. 55 against the greenback. Kenya Shilling Depreciates Further This is compared...
Kenya Revenue Authority(KRA) collected Kes 154.383 Billion in Q2, 2021/22 financial year, a performance rate of 108.5% and a growth of 23.2% from a Kes 142.285 Billion target. KRA began the 2021/22 financial year on a positive note, surpassing its July-September 2021 target of Kes 461.653 Billion by Kes 15.053 Billion, a growth of 30%. Cumulatively, KRA collected Kes 631.090 Billion in July-October 2021 against a target of Kes 603.939 Billion, a performance rate of...
Oil prices rose on Monday after Saudi Arabia’s state-owned oil producer Aramco raised the official selling price for its crude, suggesting demand remains strong at a time of tighter supplies. Brent crude was up by 90 cents or 1.1% at $83.64 a barrel, after dropping nearly 2% last week. U.S. oil gained 87 cents or 1.1% to $82.14, having declined almost 3% through Friday. Aramco late on Friday raised its December official selling price to...
At the end of September, Berkshire Hathaway's cash pile reached a record $149.2 billion, up from $144.1 billion in the second quarter.
November started off on solid footing for global markets, with equity markets logging their best weekly return in more than four months.
Fresh concerns have been raised about China’s property sector as Kaisa Group has become the latest developer to miss a payment to investors. The Shenzhen-based homebuilder Kaisa, which has guaranteed the wealth management product, said in a statement on Thursday it was facing unprecedented liquidity pressure due to a challenging property market and rating downgrades. It comes as rival developer Evergrande Group is still reeling under the weight of more than $300bn (£222bn) of debt....
KRA had a surplus of Kes.5.9 billion in revenue from Domestic Taxes where Kes. 96.6 billion was collected against a target of Kes. 90.7 billion.
Wall Street’s benchmark indices scored record closing highs on Friday and booked solid gains for the week following a strong U.S. jobs report and positive data for Pfizer’s experimental pill against COVID-19. The S&P 500 and the Nasdaq notched record-high closes for their seventh straight sessions, while the Dow Jones Industrial Average also closed at a record. All three indexes posted weekly gains for their fifth straight weeks. The Labor Department report showed U.S. employment...
At the end of the last weekday of trading on the Nairobi Securities Exchange A total of 7,770,400 shares in 986 deals, corresponding to a market value of KES 284,370,488.00, were traded. Compared with the previous NSE trading day (Thursday, November 4), today’s data shows 32% decline in volume and 29% decline in turnover. The current market capitalization of the Nairobi Securities Exchange is KES 2.6 trillion. In the aggregate, 47 NSE equities participated in...
Stocks in Asia-Pacific were mixed on Friday as shares in Hong Kong led to losses among the region’s major markets. Hong Kong’s Hang Seng index slipped 1.41% to finish the trading day at 24,870.51. Mainland Chinese stocks closed lower, with the Shanghai Composite down 1% to 3,491.57 while the Shenzhen component shed 0.637% to 14,462.62. Shares of Chinese property developers in Hong Kong fell. China Evergrande Group slipped 2.54% while China Vanke dropped 1.39% and Sunac China Holdings plunged 6.78%. The Hang Seng Properties index dipped...
Bank of Kigali (BK Group Plc) has reported a Net Income of Kes 4.1 billion (US$ 36.6 million) an increase of 33.0% year on year with a return on average total assets and return on average total equities reaching 3.4% and 18.2% respectively for the period ended September 30th, 2021. In its Audited financial results, BK Group Plc reported an increase in total interest income by 20.1% as compared to a similar period last year...
Oil prices rose around 1% on Friday, staging a partial recovery after OPEC+ producers rebuffed a U.S. call to raise supply and instead maintained plans for a gradual return of output halted by the pandemic. Brent crude rose 72 cents or 0.9% to $81.26 a barrel by around 0452 GMT, after falling nearly 2% on Thursday. U.S. oil gained 78 cents or 1.0% to $79.59 a barrel, having declined 2.5% in the previous session. OPEC+...
At the end of today’s trading session on the Nairobi Securities Exchange A total of 11,480,200 shares in 977 deals, corresponding to a market value of KES 397,929,946.00, were traded. Compared with the previous NSE trading day (Wednesday, November 3), today’s data shows 7% decline in volume, 5% decline in turnover, but 2% improvement in deals. The current market capitalization of the Nairobi Securities Exchange is KES 2.63 trillion. In the aggregate, 48 NSE equities...
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