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Monday 06th of December 2010 |
Morning Africa |
www.rich.co.ke Register and its all Free.
If you are tracking the NSE Do it via RICHLIVE and use Mozilla Firefox as your Browser. 0930-1500 KENYA TIME Normal Board - The Whole shebang Prompt Board Next day settlement Expert Board All you need re an Individual stock.
The Latest Daily PodCast can be found here http://www.rich.co.ke/rctools/richpod.php
I thank Bob Collymore Esquire The CEO of Safaricom for #Mindspeak Saturday.
A Selection of the Tweets are below or just go to Twitter and search #Mindspeak
sady_sadz LOL! RT @bobcollymore: @alykhansatchu Yikes!!! Is it today we,re doing it?!? 4zinho @alykhansatchu good morning,in Nbo already..where at westgate is Mindspeak? angiecentra @bobcollymore #yikes! I hope u are kidding. @alykhansatchu may have to lock down westgate coz of the numbers kasmall Watching @alykhansatchu on #mindspeak in the comfort of my hse. Distance is no issue in this world anymore. StephenNyumba @alykhansatchu excellent livestream! @muchiritony @alykhansatchu @bobcollymore livestreaming is the best thing that has happened to #mindspeak since twitter......Big up Ally Saturday, December 04, 2010 10:16:19 AM via TweetDeck # elvisbando @alykhansatchu @bobcollymore watching live stream...great work #mindspeak Saturday, December 04, # Ciru RT @alykhansatchu: #Mindspeak @bobcollymore saying Michael Joseph and him are like Putin and Medvedev www.rich.co.ke mmnjug @alykhansatchu If @bobcollymore and @michaelj2 are like Putin and Medvedev,then thats too much power in single office suite! #MindSpeak Afrinnovator #mindspeak live blog is... well, live! tune in for single source of all that's going on at the event - @alykhansatchu http://bit.ly/ibALLf mmnjug @davemunyao #MPesa has more transactions in month than Western Union has in a year! #MindSpeak @bobcollymore @alykhansatchu sady_sadz CC @alykhansatchu @bobcollymore RT @michaelj2: I am here because both are my friends. Also if not here I will have to be at the craft fair! Jb_mag#mindspeak n i like bobs shirt!!!! #nohomo cc @alykhansatchu http://twitpic.com/3cqgth antouboduor sapion karasha skarasha RT @alykhansatchu: 753,000 Shareholders keep me up at Night www.rich.co.ke #Safaricom #Kenya #Mindspeak we have M-Pesa and Data "@alykhansatchu: #Mindspeak #Safaricom http://www.rich.co.ke/rctools/mindlive.php #Nairobi #Africa" watching live stream at home! #Awesome! Sadia Ahmed sady_sadzCc @alykhansatchu @bobcollymore RT @Ndich: @sady_sadz Well good luck! I wish I could say the same. M watching on the internet from #Germany. Mpisha You cannot outsource quality'-@bobcollymore @alykhansatchu #mindspeak TerryanneChebet Yet again I miss @alykhansatchu's mindspeak with @bobcollymore! Can't wait to get done with school to be part of this revolution! swalz07 RT @alykhansatchu: #Safaricom #Mindspeak I grew up in a rural Community 1st time I saw a TV was when I was 16 @bobcollymore www.rich.co.ke # NjorogeT Winding down fantastic day after #Mindspeak w/ brainiac @alykhansatchu, brilliant @BobCollymore, & simba @michaelj2. #Wow! # fredgituthu @bobcollymore it was a pleasure speaking with you at Mindspeak @alykhansatchu thanks for creating a forum for Nairobi's Elite as Bob put it. NjorogeT A world of thanks to @alykhansatchu for the brilliant idea of #Mindspeak!
Michael Joseph was in the Audience and really it was just an Outstanding Way to End the Year.
Before the Off Twitpic Bob Collymore and Michael Jospeh http://www.twitpic.com/3cqusw
I think I took that Photograph at 10 to 10 and Bob said to me, Its hardly a Full House.
I said You watch.
10 minutes later You could not get in.
#Mindspeak and Other Interviews RICH TV http://bit.ly/1mPS6v
Macro Thoughts
Buy More Gold. The Breakfast Commodity Index.
Home Thoughts
I have booked Christmas Day here at Finch Hattons Tsavo http://bit.ly/hRZj5C
Denys Finch Hatton http://bit.ly/fcMB5w
I am looking forward to seeing the Red Elephants of Tsavo http://bit.ly/h6FnA5
And showing them to Hannah.
And Then we will go to Mombasa where my Dad's Neighbiour and our Family Friend Mustaq Dar tells me the Peacock has given Birth to five Little Babies. |
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THE ROVING EYE Cracks in the wilderness of mirrors Pepe Escobar Law & Politics |
The temptation to see WikiLeaks as a neo-Baudelairean artificial paradise - the marriage of libertarian anarchism and cyber-knowledge - could not be more seductive. Now no more than 40 people are helping founder Julian Assange, plus 800 from the outside.
All this with a 200,000 euro (US$264,000) annual budget - and a nomad home base. WikiLeaks spokesperson Kristinn Hrafnsson maintains that this is still a "gateway for whistleblowers", where sources are unidentified and even unknown. You can get a whistleblower to show the emperor has no clothes with just 200,000 euros - just as someone, be him Osama bin Laden or not, could usher the real "new world order" in on 9/11 with $500,000.
The book of sand Let's examine Assange's crime. Here he is, in his own words, in "State and Terrorist Conspiracies":
To radically shift regime behavior we must think clearly and boldly for if we have learned anything, it is that regimes do not want to be changed. We must think beyond those who have gone before us, and discover technological changes that embolden us with ways to act in which our forebears could not. Firstly we must understand what aspect of government or neo-corporatist behavior we wish to change or remove. Secondly we must develop a way of thinking about this behavior that is strong enough to carry us through the mire of politically distorted language, and into a position of clarity. Finally we must use these insights to inspire within us and others a course of ennobling, and effective action.
So Assange understands WikiLeaks as an anti-virus that should guide our navigation across the distortion of political language. If language is a virus from outer space, as William Naked Lunch Burroughs put it, WikiLeaks should be the antidote. Assange basically believes that the (cumulative) revelation of secrets will lead to the production of no future secrets. It's an anarchic/romantic/utopian vision.
It's vital to remember that Assange configures the US essentially as a huge authoritarian conspiracy. American political activist Noam Chomsky would say the same thing (and they wouldn't want to arrest him for it). The difference is that Assange deploys a combat strategy: he aims to corrode the ability of the system to conspire. That's where the metaphor of the computer network fits in. Assange wants to fight the power of the system, treating it as a computer choking in the desert sands. Were he alive, it would be smashing to see the great Argentine writer Jorge Luis Borges penning a short story about this.
On top of writing his own "Book of Sand", Assange is also counter-attacking the Pentagon's counter-insurgency doctrine. He's not in "tracking-the-Taliban-and taking-them-out" mode. This is just a detail. If the conspiracy is an electronic network - let's say, the (foreign policy) Matrix - what he wants is to strike at its cognitive ability by debasing the quality of the information.Here intervenes another crucial element. The ability of the conspiracy to deceive everyone through massive propaganda is equivalent to the conspiracy's penchant for deceiving itself through its own propaganda.That's how we get to the Assange strategy of deploying a tsunami of leaks as a key actor/vector in the informational landscape. And that takes us to another crucial point: it doesn't matter whether these leaks are new, gossip or wishful thinking (as long as they are authentic). The - very ambitious - mother idea is to undermine the system of information and thus "force the computer to crash", making the conspiracy turn against itself in self-defense. WikiLeaks believes we can only destroy a conspiracy by rendering it hallucinatory and paranoid in relation to itself.
Under this framework it is very enlightening to listen to what eminent Cold Warrior Zbigniew Brzezinski has to say. He told the US Public Broadcasting Service that cablegate is "seeded" with "surprisingly pointed" information, and that "seeding" is too easy to accomplish.
Dr Zbig says that WikiLeaks may have been manipulated by intelligence services with "very specific objectives". They could be, as he hints, internal US elements who want to embarass the Barack Obama administration. But he also suspects "foreign elements". In this case, the first on the list would be none other than the state of Israel.
Conclusions
An unfiltered Perspective. |
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Bernanke Says Further U.S. Monetary Stimulus Possible Bloomberg World Of Finance |
Federal Reserve Chairman Ben S. Bernanke said U.S. unemployment may take five years to fall to a normal level and that Fed purchases of Treasury securities beyond the $600 billion announced last month are possible.
“At the rate we’re going, it could be four, five years before we are back to a more normal unemployment rate” of about 5 percent to 6 percent, Bernanke said according to a transcript of an interview airing today on CBS Corp.’s “60 Minutes” program. The purchase of more bonds than planned is “certainly possible,” said Bernanke, 56. “It depends on the efficacy of the program” and the outlook for inflation and the economy.
Bernanke and other Fed officials have defended the central bank’s announcement that it will purchase $75 billion in Treasury securities a month through June to prop up a recovery so weak that only 39,000 jobs were created in November. The unemployment rate last month rose to 9.8 percent, the highest level since April, the Labor Department said on Dec. 3, three days after the Bernanke interview.The economy, which grew 2.5 percent in the third quarter, is so weak that Bernanke said growth could fizzle out without support. “It’s very close to the border,” he said. “It takes about 2.5 percent growth just to keep unemployment stable and that’s about what we’re getting. We’re not very far from the level where the economy is not self-sustaining.”
Sarah Palin, the 2008 vice-presidential candidate who has said she’s considering a run for president in 2012, wrote in a Nov. 18 letter to the Wall Street Journal that “It’s time for us to ‘refudiate’ the notion that this dangerous experiment in printing $600 billion out of thin air, with nothing to back it up, will magically fix economic problems.”
“We could raise interest rates in 15 minutes if we have to,” he said. “So, there really is no problem with raising rates, tightening monetary policy, slowing the economy, reducing inflation, at the appropriate time.”
“That time is not now,” he said.
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Currency Markets at a Glance WSJ World Currencies |
Euro 1.3350 traded as high as 1.3411 Friday Pound 1.5738 Yen 82.97 -> down from 83.87 levels Swiss 0.9738 Rand 6.8488 Aussie 0.9877 Brazil Real 1.6844 South Korea 1132.10 India Rupee 44.885
The U.S. dollar fell sharply Friday, and the euro topped $1.34 for the first time since late November, after tepid U.S. job growth reawakened speculation the Federal Reserve would have to expand its dollar-bruising quantitative-easing measures.The jobs report “brings back the nasty prospect that the Fed will have to react more,” a prospect that’s been pushed to the back burner since the Fed rolled out its latest quantitative-easing program in early November, said David Watt, senior currency strategist at RBC Capital Markets.
Conclusions
On Balance, Structurally Rates and by extension the Dollar are going to remain weaker and for Longer.
Euro versus Dollar INO 3 Month Chart 1.3350 http://bit.ly/bQ9veD
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Soft Commodities at a Glance INO Commodities |
COCOA (NYBOT:CC) CC.Z10.E Dec 2010 (E) 2905 +64 +2.21% COFFEE (NYBOT:KC)KC.Z10.E Dec 2010 (E) 204.50 +1.10 +0.54% COTTON #2 (NYBOT:CT) CT.Z10.E Dec 2010 (E) 142.33 +4.99 +3.51% SUGAR #11 (WORLD) (NYBOT:SB) Mar 2011 (E) 29.50 +1.10 +3.72%
Conclusions
Cocoa is beginning to gain Upside Traction on Cote D'Ivoire News.
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Qatar Shares Surge to 2-Year High on Winning World Cup 2022 Bid Emerging Markets |
Qatar’s shares soared to the highest in more than two years after the country won the rights to host soccer’s 2022 World Cup, becoming the first Arab nation to hold the world’s most-watched sporting event.Qatar National Bank, the emirate’s biggest lender by assets, climbed to the highest on record. Barwa Real Estate Co., Qatar’s largest publicly traded property developer by assets, gained the most since June. The QE Index jumped as much as 7.8 percent to 8,820.09, the highest since October 2008. The measure rose 3.3 percent at 10:47 a.m. in Doha as all 20 shares advanced.
"Sentiment is understandably flying extremely high," said Akber Khan, a director at Al Rayan Investment in Doha. "There will be a material impact on some companies as the government fast tracks billions of dollars of spending. Banks, real estate and construction related names would be among the key beneficiaries."
Qatar, projected by the International Monetary Fund to have the world’s fastest-growing economy this year, plans to more than double the number of hotel rooms, build nine stadiums and refurbish three others and construct a rail and metro network for the tournament. The U.S. estimates that the tournament is worth $5 billion to the hosts.
The country plans to spend $4 billion on the stadium construction and refurbishment program. With summer temperatures approaching 50 degrees Celsius (122 Fahrenheit), each facility will be designed with a solar-powered air-conditioning system. A new 200,000-population city called Lusail, north of the capital, is scheduled to be built over the next decade and will feature the stadium that hosts the World Cup final.Qatar expects to construct a rail and metro network, costing more than $25 billion, in Doha and extending to cities outside the capital. It’s also planning the longest bridge in the world to connect to the nearby island kingdom of Bahrain, and aims to open a new airport next year.
Soccer ruling body, the Federation Internationale de Football Association, or FIFA, announced that Qatar won the World Cup bid in Zurich Dec. 2 after competing with the U.S., Australia, Japan and South Korea. Russia was chosen to host the 2018 tournament.
Industries Qatar, the second-biggest petrochemicals maker in the Middle East, advanced 2 percent to 132.1 riyals.
Bahrain’s All Share Index and Kuwait’s gauge gained 0.3 percent. Oman’s MSM30 Index advanced 0.4 percent. Markets in the United Arab Emirates are closed today for an Islamic holiday.
Conclusions
Uniformly Bullish.
Qatar DSM:IND QE Index Bloomberg Visual +29.261% 2010 http://bit.ly/eOih1u
Value8,477.32 Change292.410 % Change3.573
Conclusions
Bullish.
Ritz Carlton Doha Photo Tour http://bit.ly/gFUVhX
Years ago and Just before the 2nd Gulf War broke out, I took us all to the Ritz Carlton in Doha. I was on a Reconnaissance Tour. The Immigration Officer was himself not ready for the Transformation that was to come because he viewed my Visit to his Tiny Country as ultimately misbegotten and practically fell off his Chair when I told him why I was visiting. The Hotel had this outstanding Chef and we had a very good time.
I had a Long Call Position on the Schaetz [2 Year Germany] and made $5m for the Bank during that Week. It was a Sweet Holiday.
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Ivory Coast's Gbagbo sworn in despite poll row Reuters Law & Politics |
Laurent Gbagbo was sworn in as Ivory Coast's president on Saturday after his election victory was rejected by world leaders but accepted by the army, raising fears of a power struggle.The election commission said Alassane Ouattara had won the November 28 poll with 54.1 percent but the top legal body, citing alleged intimidation, scrapped hundreds of thousands of votes on Friday and handed victory to Gbagbo.
Gbagbo's swearing in was broadcast live on state television, and comes after the head of the West African country's army declared his continued allegiance to Gbagbo late on Friday.
"I will continue to work with all the countries of the world, but I will never give up our sovereignty," Gbagbo said to cheers and the sound of vuvuzelas after being sworn in.
The African Union said it would send former South African President Thabo Mbeki to try to seek a solution to the crisis.
Ivory Coast is the world's top cocoa grower and cocoa futures closed up 2.41 percent to 1,955 pounds on Friday and Ivory Coast's $2.3 Eurobond yielded 11.67 percent, from below 10 percent after round one.
In what diplomats said was an unusually strong endorsement, U.N. Secretary-General Ban Ki-moon congratulated Ouattara on his win and called on Gbagbo to cooperate in the transition.
The regional body ECOWAS, led by economic powerhouse Nigeria, also supported Ouattara's victory. But diplomats in New York said Russia, whose Lukoil has an exploration block in Ivory Coast, had blocked the U.N. Security Council from also doing so.
The lack of Security Council consensus on the U.N. position could encourage Gbagbo to ignore outside pressure.
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IMF Cuts South African 2010 Growth Forecast to 3% Bloomberg World Of Finance |
The International Monetary Fund cut its 2010 growth forecast for South Africa to 3 percent, following the release of lower-than-expected third-quarter data and a downward revision of growth in the previous three months.Africa’s biggest economy will probably expand about 3.5 percent next year, Abebe Selassie, the IMF’s division chief for Africa, said in an interview in Cape Town today. On Sept. 21, the Washington-based lender said it expected South Africa to grow 3.2 percent this year and 3.6 percent in 2011. The government statistics agency said on Nov. 23 that the economy expanded an annualized 2.6 percent in the third quarter, less than the 3.3 percent median estimate of 20 economists surveyed by Bloomberg. The agency also revised its growth figure for the second quarter down to 2.8 percent from 3.2 percent.
Conclusions
“There is no silver bullet to try and address the strength of the rand,” Selassie |
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Nakumatt seeks Sh1 billion for expansion Business Daily Retail & Manufacturing |
Supermarket chain Nakumatt is in talks with three commercial banks for a syndicated loan that will be used to finance its on-going branch expansion.The retail store is hoping to finalise the loan deal of more than Sh1 billion in the next three weeks.Managing director Atul Shah said on Friday the loan will be repayable in five years. He was speaking after the opening of the regional retailer’s new branch in Karen, Nairobi.
“We have been restructuring our finances and have settled on a syndicated loan being offered by three local banks,” said Mr Shah, adding that the funds will be used for stocking new branches, including one that is due to be opened in February next year.
Nakumatt’s decision to turn to commercial banks for funds comes after buy-out talks with a consortium led by London-based private equity firm Satya Capital collapsed, sending the management back to the drawing board in its search for a financing plan.
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Land Of Hope Time Africa |
Head north from nairobi toward Mount Kenya and almost invariably you'll hit weather. Fog, rain, hail, even snow, all unusual for the equator but a blessing for Mount Kenya's farmers, who export coffee, roses, green beans and peas to Europe. Once you pass the mountain and descend onto the dusty Samburu plain, however, the weather evaporates. The first town you reach is Archer's Post, a collection of dusty shacks around a truck stop. From there, says elder Leadisimo Lehgalee, 69, the Samburu are forced to watch the daily deluge over Mount Kenya while enduring a drought on their land that began in 1997. Inevitably, jealousy and desperation turn to enmity. "We rob them," says Lehgalee. "And they rob us back. We raid each other's cattle, and we fight, we kill, and we die. That's the Samburu life." |
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N.S.E Today |
The Nairobi Stock Exchange made it an 11 Day Losing Streak. The NSE20 was down 8.26 points to close at 4376.77 making it a total 6.972% retreat from the 2010 Closing High of 4704. The NASI closed 0.10 points lower at 97.27 and has retreated just a whisker below 10% from its 2010 High. Market Cap was 1.160378 Trillion versus 1.161529 Trillion last time. Equity Turnover was 332.825m versus 317.822m. |
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N.S.E Equities - Agricultural |
Kakuzi was marked down 9.604% to close at 80.00 and traded 52,700 shares. Kakuzi trades on a Price Earnings Multiple of 4.61 and sits on Real Estate on the Thika Super Highway and that Land has undergone a Super Spike. The Land is carried in Kakuzi's Balance Sheet at its Historic Cost. Rea Vipingo traded 2,500 shares and closed 2.87% easier at 15.20. Sasini Tea firmed 15 cents to close at 12.95 and traded 48,800 shares.
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N.S.E Equities - Commercial & Services |
SAFARICOM
shares volume 13,033,900 total turnover 59,212,956 avg price 4.54 Closing Price 4.50 -1.098% high price 4.60 low price 4.50 last price 4.55
Conclusions
Safaricom traded 2nd at the Nairobi Bourse and closed at an average of 4.54 which got marked down to 4.50. There is Solid 10m+ Buy Side Demand at 4.50 but Buyers have not seen any reason [what with the Market on an 11 day losing streak] to push Their Orders higher, yet. Safaricom trades on a Trailing PE of less than 12.00 and Guidance is for Double Digit Full Year Growth so I tend to the View that the Price is oversold. Safaricom traded 13.033m shares worth 59.212m.
Safaricom share price data www.rich.co.ke http://bit.ly/d9amsi
Kenya Airways bounced 1.0869% to close at 46.50 and traded a 46.00-48.00 range and 94,200 shares. Kenya Airways saw Outsize Demand at 42.00 levels twice, reported strong +66% Turnaround 1st Half Results and if the 2nd Half is equal to the First Half then the Forward PE is 7.39 and hence attractive.
Access Kenya rowed back 0.3125% to close at 15.95 and traded 275,500 shares. Access Kenya sits 2.57% above its 2010 Closing low of 15.55.
Nation traded 12,000 shares and closed at 160.00. Standard firmed 50 cents to close at 45.50 and traded 1,800 shares. ScanGroup was unchanged at 60.00 and traded 13,200 shares.
TPS Serena traded 19,600 shares at 68.00 and unchanged.
CMC Holdings eased 0.41% to close at 12.05 and traded 76,900 shares. CarGen was marked down 4% to close at 48.00 and traded 100 shares.
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N.S.E Equities - Finance & Investment |
Kenya Commercial Bank traded 3rd at the Bourse. KCB closed at 21.99 which was marked as 21.75 -1.14% at the Closing Bell. KCB traded a 21.75-22.25 range and 1.345m shares worth 29.595m. KCB trades on a very Low Forward PE and I expect a Re Rating before or coincident with the Release of the Full Year Results.
KCB share price data www.rich.co.ke http://bit.ly/bshUrX
Equity Bank traded 4th and closed unchanged at 26.00 and traded 884,100 shares worth 22.990m. Barclays Bank was unchanged at 60.50 and traded a 60.50-61.00 range and 142,100 shares worth 8.629m. Supply outweighs Demand by a Factor of 2-1. COOP Bank was unchanged at 19.00 and traded 862,400 shares worth 16.389m. StanChart was marked down 0.78% to close at 257.00 and traded 19,000 shares.
Centum eased 1.086% to close at 22.75 and traded 484,100 shares.
DTB firmed a shilling to close at 132.00 and traded a 120.00-132.00 range and 90,600 shares worth 11.938m. NBK eased 25 cents to close at 38.00 and traded 61,600 shares. NIC traded 57,800 shares and was unchanged at 48.00. HFCK was marked down a further 2% to close at 24.50 and traded 67,100 shares. HFCK has retreated from 30.00+ 2010 Highs. CFC StanBic eased 1.26% to close at 78.50 and traded 3,200 shares only.
Kenya Re eased 5 cents to close at 11.40 and traded 106,900 shares. Jubilee was unchanged at 189.00 and traded 600 shares. PanAfric did not trade.
Olympia Capital closed at 6.45 and traded 7,500 shares |
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N.S.E Equities - Industrial & Allied |
EABL was the most active share at the NSE today and firmed 0.97% to close at 208.00 and was trading at 210.00 +1.94% into the Close. EABL traded a 205.00-210.00 range and printed a 225.00 all Time Closing High 10 Trading sessions ago from whence it retreated 8.44% before turning around today. EABL traded 436,300 shares worth 90.777m.
EABL share price data from www.rich.co.ke http://bit.ly/57wrgL
Kenya Power retreated 3.157% to close at 23.00 and traded a 22.75-23.25 range and 233,100 shares. The Rights Issue Price is 19.50. Kenya Power Rights retreated 5% to close at 2.85 and traded 987,800 shares. KenGen bounced 1.524% to close at 16.65 and traded 229,800 shares. Cables traded 13,800 shares and firmed 5 cents to close at 15.55.
KenolKobil have released a Statement expressing surprise at the Decision to Introduce Price Caps and reiterating 'Bullish' Full Year Earnings Guidance. KenolKobil rallied 1.02% to close at 9.90 and traded 846,700 shares. Total bounced 50 cents to close at 29.50 and traded 3,000 shares.
Mumias Sugar closed unchanged at 9.55 and traded 406,600 shares and was unable to get any Traction from a Kestrel Upgrade.
Bamburi Cement rallied 1.04% to close at 194.00 and traded 77,200 shares. ARM was unchanged at 172.00 and traded 52,900 shares. Portland did not trade.
BOC Kenya bounced 6.42% to close at 149.00 and traded 1,100 shares. Carbacid traded 500 shares at 145.00 and unchanged.
Unga bounced 6.4% to close at 10.80 and traded 400 shares.
Eveready bounced 3.38% to close at 3.05 and traded 72,700 shares. Sameer was unchanged at 5.55 and traded 16,300 shares.
BAT was marked down a shilling to close at 277.00 and traded 1,600 shares. Crown Berger traded 1,000 shares at 32.25 unchanged.
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