The Trading Room

Sanctions on Rosneft PJSC and Lukoil PJSC, companies responsible for nearly half of Russia’s crude exports caught the market off guard and will affect Oil Prices.

According to Longhorn Publishers report, the management had reduced the operating cost by 20% in the review period but the company still recorded a loss of 35 million.

Market breadth was positive on Wall Street, with advancing issues outnumbering decliners by a 1.74-to-1 ratio on the NYSE, where 659 stocks hit new highs and 69 posted new lows.

Despite the subdued activity, the overall market capitalization remained steady at KES 2.85 trillion, reflecting continued investor confidence in the NSE.

Absa Group subsidiary, Absa Bank Uganda, has signed an agreement to acquire Standard Chartered Bank Uganda’s Wealth and Retail Banking (WRB) business. The deal follows StanChart’s announcement last year that it was exploring the divestment...