AfDB Launches Initiative to Build Financial Acumen of African Cities.
The program by The African Development Bank (AfDB) will get underway in September 2022; 10 municipalities will participate.
KCB Group Shareholders Approve Kes. 9.64B Dividend Payout for FY2021.
At the 51st Annual General Meeting held earlier today via electronic means; KCB Group shareholders approved a final dividend of Kes 2.00 per share as recommended by the Board
Market Report: June 02, 2022
The derivatives exchange the NSE (NEXT) had 6 single stock futures valued at Kes 114,700 transacted during Thursday’s trading session.
BK Group Posts 40% Growth in Net Income at FRw 15.6 Billion.
BK Group’s net interest income rose by 4.3% year-on-year to FRw 33.3 billion supported by higher income from loans and advances, which grew by 8.8% from Q1 2021 to FRw 1.1 trillion.
KCB GROUP PLC POSTS KSHS.34.2B IN FULL-YEAR 2021 PROFIT AFTER TAX
Growth in total income and reduction in loan loss provision charge pushed performance by 74% in steady post-COVID-19 recovery KCB Group Plc recorded a historic 74% rise in profit after tax for the full year ending December 2021, riding on an economic recovery across markets. Net profit grew to KShs.34.2 billion compared to KShs.19.6 …
KCB GROUP PLC POSTS KSHS.34.2B IN FULL-YEAR 2021 PROFIT AFTER TAX Read More »
European Stock markets crash 2.7% as Russia attacks ukraine
European stocks sold off sharply on Thursday after Russia began an attack on Ukraine, tipping a longstanding diplomatic crisis into a military conflict. The pan-European Stoxx 600 dropped 2.7% in early trade, with banks tumbling 4.3% to lead losses as all sectors and major bourses slid into negative territory. Global markets were rocked on Thursday …
European Stock markets crash 2.7% as Russia attacks ukraine Read More »
Market Report; 02 December 2021
At the end of today’s trading session on the Nairobi Securities Exchange A total of 16,903,500 shares in 1,330 deals, corresponding to a market value of KES 532,185,144.00, were traded. Compared with the previous NSE trading day (Wednesday, December 1), today’s data shows 5% improvement in volume, 7% decline in turnover, but 23% improvement in …
Britam’s CEO Tavaziva Madzinga Quits after 10 Months in Office
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. …
Britam’s CEO Tavaziva Madzinga Quits after 10 Months in Office Read More »
Allianz Completes Acquisition of Majority Stake in Jubilee Insurance Uganda
Allianz, one of the world’s leading insurers and asset managers, has completed the acquisition of a majority stake in Jubilee Insurance Company of Uganda Limited. Allianz became the majority shareholder in Jubilee Insurance Company of Uganda Limited after completing the transaction to acquire a 66% stake in the company from Jubilee Holdings Limited (JHL), East …
Allianz Completes Acquisition of Majority Stake in Jubilee Insurance Uganda Read More »
Oil Prices Climb to the highest since 2014 as Recovery from COVID-19 Boost Demand
Oil prices hit their highest in years on Monday as demand continues its recovery from the Covid-19 pandemic, boosted by more custom from power generators turning away from expensive gas and coal to fuel oil and diesel. Brent crude oil futures rose 87 cents, or 1%, to $85.73 a barrel by 0111 GMT, the highest price since October 2018. …
Oil Prices Climb to the highest since 2014 as Recovery from COVID-19 Boost Demand Read More »
ABSA Bank Kenya Reports 846% Rise in Profit to Kes 5.6 Billion
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, …
ABSA Bank Kenya Reports 846% Rise in Profit to Kes 5.6 Billion Read More »
Asian Markets Edge Lower, South Korea Hikes Interest Rates
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 …
Asian Markets Edge Lower, South Korea Hikes Interest Rates Read More »
Market Report; 11 August 2021
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 …
Kenya-Re Appoints Jennifer Karina as Board of Directors Chair
Mrs Jennifer Karina has been appointed as the chairperson of the Board of Directors at Kenya Reinsurance Corporation, with effect from 8th July 2021. Jennifer Karina has been in corporate leadership for over 40 years. She is a Psychologist, Certified Professional Coach, Energy Leadership Practitioner, acclaimed Speaker& Author. She is a thought leader in Relationship …
Kenya-Re Appoints Jennifer Karina as Board of Directors Chair Read More »
Asian Stocks Rise, Japan’s Nikkei 225 Lead Gains
Shares in Asia-Pacific largely rose on Tuesday, with shares in Japan leading gains among the region’s major markets. In Japan, the Nikkei 225 jumped 3.12% to close at 28,884.13, largely recovering from a more than 3% tumble on Monday. The Topix index gained 3.16% to 1,959.53. Mainland Chinese stocks edged higher on the day as the Shanghai composite gained 0.8% …
Asian Stocks Rise, Japan’s Nikkei 225 Lead Gains Read More »
Market Report; 16 June 2021
At the end of today’s trading session on the Nairobi Securities Exchange A total of 14,611,100 shares in 857 deals, corresponding to a market value of KES 498,048,099.00, were traded. Compared with the previous NSE trading day (Tuesday, June 15), today’s data shows 20% improvement in volume, 42% improvement in turnover, but 8% decline in …
Abojani to Offer Free Masterclass on Investing in the US Markets this Saturday
Abojani Investment, a Nairobi based, diversified digital-first personal finance company, will host the Kenyan-born US Based financial educator Peter Njoroge on the Saturday, the 19th of June from 3pm East African Time in an online webinar on investing in offshore shares such as Amazon, Apple and Zoom. In the webinar, Kenyans interested in diversifying their …
Abojani to Offer Free Masterclass on Investing in the US Markets this Saturday Read More »
Nation Media Share Buyback set for Kes 25 per Share.
Nation Media Group (NMG) Board of Directors has recommended that the firm’s shareholders effect the Share Buyback plan by way of open market purchases through on the Nairobi Securities Exchange (NSE). The share buy back is subject to shareholder approval at the next Annual General Meeting(AGM), to be held virtually at 3.00 pm on Friday, …
Nation Media Share Buyback set for Kes 25 per Share. Read More »
Gold Extends Gain Amidst a Weakening Dollar, Inflation Concerns
Gold prices inched up on Wednesday, hovering near a four-month high on a weaker dollar, while investors awaited minutes from the U.S. Federal Reserve’s last policy meeting as inflation worries persist. Spot gold was up 0.1% at $1,870 per ounce by 0044 GMT, after hitting its highest since Jan. 29 at $1,874.80 in the previous …
Gold Extends Gain Amidst a Weakening Dollar, Inflation Concerns Read More »
Market Report; 18 May, 2021
At the end of today’s trading session on the Nairobi Securities Exchange. A total of 13,190,600 shares in 1,051 deals, corresponding to a market value of KES 472,964,050.00, were traded. Compared with the previous NSE trading day (Monday, May 17), today’s data shows 57% decline in volume and 57% decline in turnover. The current market …
KenGen’s US$6.5 Million Djibouti Power Project begins Next Month
Kenya Electricity Generating Company(KenGen) is set to begin drilling works on the $6.5 Million(Kes 709.8 Million) Geothermal Power Project, starting June this year. This International contract was awarded to the Kenyan electricity giant company three months ago, following an agreement with the Djiboutian Office of Geothermal Energy Development (ODDEG). The project involves drilling three geothermal wells at …
KenGen’s US$6.5 Million Djibouti Power Project begins Next Month Read More »
Three Longtime NSE Board Members to Retire in June
The three directors are some of the longest-serving members on the NSE board and their retirement is in line with the code of corporate governance practices.
Safaricom’s 2020 Earnings Down 6.8 Pc to Kes 68.68 Billion
Safaricom’s board has proposed a final dividend per share (DPS) of Kes 0.92 amounting to Kes 36.86 billion for approval at the next Annual General Meeting (AGM).”
Market Report; 12 May, 2021
At the end of today’s trading session on the Nairobi Securities Exchange A total of 11,113,200 shares in 872 deals, corresponding to a market value of KES 349,087,720.00, were traded. Compared with the previous NSE trading day (Tuesday, May 11), today’s data shows 50% decline in volume, 61% decline in turnover, and 15% decline in …
Oil Edges Higher Amidst a Drop in U.S Crude Inventories.
Oil prices rose on Wednesday after a drop in U.S. crude inventories reinforced OPEC’s robust demand outlook, while the market awaited fresh updates on the Colonial Pipeline outage. U.S. West Texas Intermediate (WTI) crude futures rose 29 cents, or 0.44%, to $65.57 a barrel at 0646 GMT, adding to a 36 cent rise on Tuesday. …
Oil Edges Higher Amidst a Drop in U.S Crude Inventories. Read More »
Market Report; 11 May, 20221
At the end of today’s trading session on the Nairobi Securities Exchange A total of 22,385,500 shares in 1,030 deals, corresponding to a market value of KES 906,173,194.00, were traded. Compared with the previous NSE trading day (Monday, May 10), today’s data shows 37% decline in volume, 33% decline in turnover, but 1% improvement in …
Asian Markets Edge Lower after U.S Tech Sell-off
Most Asia-Pacific markets came under pressure on Tuesday, following a sell-off in tech stocks that weighed down major U.S. indexes overnight. Stocks in Taiwan led declines across the region, with the benchmark Taiex ending the trading session 3.79% lower. Japanese stocks also recorded losses with Nikkei 225 shedding 3.08% at the close, while the Topix moved 2.37% …
Asian Markets Edge Lower after U.S Tech Sell-off Read More »
Kenya Suspends Flights to and From Somalia
The Kenya Civil Aviation Authority has suspended all flights to and from Somalia. In a notice issued to airmen on Tuesday, the Kenya Civil Aviation Authority said it had suspended all flights to and from Somalia with immediate effect. “All flights between Kenya and Somalia are suspended except medevac flights and UN humanitarian flights,” the …
Oil Prices Decline as Pipeline Outage Worries Investors
Oil prices fell on Tuesday as the prospect of the main U.S. East Coast gasoline pipeline remaining shut for the rest of this week led some U.S. Gulf Coast refiners to cut output, denting their appetite for crude. U.S. West Texas Intermediate (WTI) crude futures fell 40 cents, or 0.6%, to $64.52 a barrel at 0247 …
Oil Prices Decline as Pipeline Outage Worries Investors Read More »
Market Report; 10 May, 2021
At the end of the first weekday of trading on the Nairobi Securities Exchange A total of 35,760,700 shares in 1,016 deals, corresponding to a market value of KES 1,347,748,767.00, were traded. Compared with the previous NSE trading day (Friday, May 7), today’s data shows 25% improvement in volume, 34% improvement in turnover, but 11% …
Asian Stock Markets Mainly Higher, Despite a Lower than Expected U.S Job Reports
Stock markets in Asia-Pacific were broadly higher on Monday, shrugging off the weaker-than-expected April U.S. jobs reports; while oil futures advanced. South Korea’s Kospi was one of the largest gainers, rising 1.6% in the first session of the week. In Japan, the Nikkei 225 rose 0.5% and the Topix jumped 1%. Greater China markets were mixed. The Shanghai composite was marginally …
Asian Stock Markets Mainly Higher, Despite a Lower than Expected U.S Job Reports Read More »
KQ Signs Interline Deal with South Africa’s regional carrier Airlink
National carrier Kenya Airways (KQ) has signed an interline agreement with South Africa’s regional carrier, Airlink. The deal will enable Kenya Airways customers flying to South Africa to connect with Airlink operated flights to Windhoek, Durban, Gaborone, Maseru, Pemba, Maputo, and Port Elizabeth. The agreement will also enable Airlink passengers to book a through ticket …
KQ Signs Interline Deal with South Africa’s regional carrier Airlink Read More »
Ether Soars Above $4,000 a New all time High.
Ether[ ETH], the second-largest cryptocurrency by market capitalization, has reached an all-time high of $4,000. As of 10.00 A.M East African Time, ether was trading at $4,130.26, a 4% gain. ETH, which has been on a gaining streak over the past weeks, recorded a 36% weekly gain. The digital currency’s gain has been powered by …
Market Report; 06 May, 2021
At the end of today’s trading session on the Nairobi Securities Exchange. A total of 17,803,700 shares in 992 deals, corresponding to a market value of KES 728,187,586.00, were traded. Compared with the previous NSE trading day (Wednesday, May 5), today’s data shows 136% improvement in volume, 192% improvement in turnover, and 4% improvement in …
Asian Stocks Mixed, Ahead of U.S Job Report
Asia-Pacific stock markets traded mixed on Thursday as investors look ahead to the U.S. jobs report due later this week for clues about how long the Fed will stay on hold. Japanese markets returned to trade for the first time this week after being closed for public holidays. The benchmark Nikkei 225 jumped 1.8%, trimming some of …
Oil Prices Slump, U.S Gasoline Inventories Rise
Oil prices fell on Thursday as gasoline inventories in the United States, the world’s largest oil consumer, rose for a fifth consecutive week, although a draw in crude stockpiles helped support prices. Brent crude futures fell by 16 cents, or 0.2%, to $68.80 barrel by 0123 GMT U.S. West Texas Intermediate (WTI) crude futures dropped …
Market Report; 05 May, 2021
At the end of today’s trading session on the Nairobi Securities Exchange A total of 7,540,900 shares in 955 deals, corresponding to a market value of KES 249,384,421.00, were traded. Compared with the previous NSE trading day (Tuesday, May 4), today’s data shows 47% decline in volume, 50% decline in turnover, and 3% decline in …
Asian Markets Rise Despite Wall street Decline.
Australian shares rose on Wednesday while some of the other major Asia-Pacific markets are closed for the day. The benchmark ASX 200 traded 0.7% higher at 7,117.60, with the heavily-weighted financials subindex up 0.84%. Energy and materials were up 0.9% and 1.2%, respectively as major miners and oil stocks mostly advanced. In Taiwan, the Taiex was up 0.36% while …
Oil Prices Edge Higher after a Steep Decline in U.S Stockpiles.
Oil prices edged higher on Wednesday, extending gains from the previous session after industry data indicated U.S. crude stocks fell much more than expected last week, reinforcing bullish views on fuel demand in the world’s largest economy. U.S. West Texas Intermediate (WTI) crude futures rose 48 cents, or 0.7%, to $66.17 a barrel at 0440 …
Oil Prices Edge Higher after a Steep Decline in U.S Stockpiles. Read More »
Kenya and Tanzania Sign Kes121 Billion Gas Pipeline Deal.
Kenya and Tanzania have signed a multimillion-dollar deal for a gas pipeline that will run between the coastal cities of Mombasa and Dar es Salaam. Tanzanian President Samia Suluhu made her first trip to Kenya on Tuesday on the invitation of President Uhuru Kenyatta, during which the deal was signed. “We are friends in East …
Kenya and Tanzania Sign Kes121 Billion Gas Pipeline Deal. Read More »
Asian Pacific Stocks Mixed Amidst Inflation Concerns.
Stocks in Asia-Pacific were mixed in Tuesday afternoon trade with major markets in Japan and China still closed for holidays. Hong Kong’s Hang Seng index rose 0.25% by the afternoon. In Taiwan, the Taiex looked poised for another day of losses as it dropped 2.05%. Over in South Korea, the Kospi slipped 0.23%. In Australia, the S&P/ASX 200 edged 0.43% higher. Investors also …
Asian Pacific Stocks Mixed Amidst Inflation Concerns. Read More »
Oil Edges Higher, Investors Focus on Europe Demand Prospects.
Oil prices added to overnight gains on Tuesday, as more U.S. states eased lockdowns and the European Union sought to attract more travellers, which would help offset weakened fuel demand in India as COVID-19 cases soar. Brent crude futures rose 14 cents, or 0.2%, to $67.70 a barrel at 0150 GMT, after climbing 1.2% on Monday. …
Oil Edges Higher, Investors Focus on Europe Demand Prospects. Read More »
Market Report; 03 May, 2021
At the end of the first weekday of trading on the Nairobi Securities Exchange. A total of 5,630,300 shares in 847 deals, corresponding to a market value of KES 187,067,094.00, were traded. Compared with the previous NSE trading day (Friday, April 30), today’s data shows 58% decline in volume, 60% decline in turnover, and 11% …
Asian Markets Mostly Lower, Hong Kong Leads Losses.
Asian stock markets are mostly lower on Monday, following broadly negative cues from Wall Street on Friday. The markets are cautious amid the surge in coronavirus cases in the region, particularly in Japan and India, as well as the possibility of lockdowns in several markets. A couple of major markets are also closed for a …
Asian Markets Mostly Lower, Hong Kong Leads Losses. Read More »
Ether Breaks above $3K , Top Nigerian Hotel Accepts Payment in Bitcoin
Ether (ETH), the second-largest cryptocurrency by market capitalization, went above $3,000 Sunday for the first time in history. At press time, ether’s changing hands at $3,085.97, up more than 5.6% in the past 24 hours. Ether’s impressive gains came as the demand for digital currency has soared. The total market capitalization for decentralization finance (DeFi) …
Ether Breaks above $3K , Top Nigerian Hotel Accepts Payment in Bitcoin Read More »
Homeboyz Posts Kes 22 Million for FY 2020
Homeboyz instituted some cost-cutting measures which resulted in a 49% drop in direct costs and a 63% drop in administrative expenses.
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 …
Asian Markets Edge Lower, Amidst Uncertainty on Global Economic Recovery Read More »
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 …
Standard Group Records a Loss of Kes 434 Million for FY2020 Read More »
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 …
Oil Prices Slip From a Six Week High, Rising Cases of COVID-19 Outweighs Demand Outlook Read More »
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 …
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 …
Oil prices Gain as Demand Outlook Grows Despite Rising COVID-19 Cases. Read More »
NMG Net Profit Down 94% to Kes48 Million for FY2020
The value of NMG’s total assets decreased to Kes11.82 billion at the end of 2020 from Kes12.1 billion at the end of 2019. Its total liabilities also fell to Kes3.89 billion from Kes 4.3 billion the previous year.
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 …
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 …
Kengen Set to Receive Kes 23 Billion Debt Payment from KPLC. Read More »
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 …
Asian Pacific Stocks Mixed Ahead of U.S Fed Meeting Read More »
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 …
Ether Jumps to all Time High of $2,700, Bitcoin Hits $55K Mark Read More »
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 …
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 …
Asian Pacific Stocks Edge Lower Amidst Concerns About the Pandemic Read More »
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 …
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% …
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 …
Bitcoin Climbs Above $52K , Valkyrie Digital Assets to Launch Bitcoin ETF Read More »
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 …
Asian Stock Markets Hit Six Week High, Investors Watch Out For U.S GDP Data. Read More »
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% …
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 …
KQ Signs Deal With Congo Airways to Expand Reach Read More »
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, …
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 …
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 …
Market Capitalization Increases by 20.88 % in Q1 2021. Read More »
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 …
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 …
Daniel Mminele Steps Down as Absa Group Chief Executive Read More »
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 …
Gold Gains 0.1% on Weakening U.S Dollar, Rising Treasury Yields Read More »
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 …
Bamburi Cement Post kes 1.12 Billion Profit for FY2020 Read More »
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 …
Wall Street Rebounds, Nasdaq Leads Index Rally, Netflix Plummets 7% on Earnings Read More »
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 …
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 …
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 …
Asian Pacific Stocks Mixed as Rising COVID-19 Cases in India Impairs Economic Outlook Read More »
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. …
Oil Drops Towards $62K as Rising COVID-19 Cases in India Impairs Demand Outlook. Read More »
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 …
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 …
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 …
Oil Prices Gain Amidst Concerns on Rising Global COVID-19 Cases. Read More »
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% …
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. …
Bitcoin Tumbles From Record High, Ether and Dogecoin Follow Read More »
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 …
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% …
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 …
Liberty Kenya Post a 2% Decline in Profits to Kes 676 Million in FY2020 Read More »
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 …
Asian Markets Edge Higher, Investors React to China Data Release Read More »
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 …
Jubilee Holdings Post a Profit Before Tax of Kes 5.08 Billion for FY2020. Read More »
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 …
Oil Extends Hits Four Week High on China Data and Increased Demand Outlook Read More »
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 …
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 …
EPRA fails to Adjust Upwards the April-May Fuel Pump Prices Read More »
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 …
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 …
Oil Prices Hover Near One Month High as OPEC+ Raises Demand Forecast Read More »
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 …
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, …
Asian Pacific Stocks Edge Higher, Hong Kong Leads Gains Read More »
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 …
Oil Prices Rally as OPEC Raises its Demand Outlook Amidst Drawdown on U.S Stockpile Read More »
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 …
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. …
Asia Pacific Market Mixed as Alibaba Soars Despite Regulatory Concerns Read More »
Stocks on Wall Street Slide ahead of Bank Earnings Reports
Tesla Inc rose 3.7% on wall street after Canaccord Genuity upgraded the electric-car maker’s shares to “buy,” saying the company could become “the brand” in energy storage.
NSE Weekly Market Review – Week 14, 2021
The Derivatives Market of the Nairobi Securities Exchange (NSE) closed the week with a total of 76 contracts valued at Kes. 3.5 million transacted.
Cargo Activity at Port of Mombasa Up 10% in 1Q21.
For container traffic, the Port of Mombasa recorded a positive increment of 31,261 TEUs or 30.4% to register 133,904 TEUs in March 2021 against 102,643 witnessed in March 2020.
Tech Rally Pushes S&P 500 to Record Highs as Treasury Yields Fall
Analysts have raised expectations for first-quarter S&P 500 earnings increase to 24.2%, according to Refinitiv IBES data as of April 1, versus 21% forecast on Feb. 5