home | rich profile | rich freebies | rich tools | rich data | online shop | my account | register |
  rich wrap-ups | **richLIVE** | richPodcasts | richRadio | richTV  | richInterviews  | richCNBC  | 
Satchu's Rich Wrap-Up
 
 
Thursday 09th 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

Kenya Economic Update KEU Edition 3 The Tipping Point
http://bit.ly/exqFwJ

Financial Times Kenya Special
http://bit.ly/eE6lTu

My Weekly Piece for The #Star The Cream always rises to the Top The
New Age of #Meritocracy
http://bit.ly/fcAVB3

Search #Mindspeak on www.twitter.com

Macro Thoughts



Home Thoughts

It was a pleasure to catch up with Guido Haller yesterday. Guido and I
both come from Mombasa, Guido's Father was the Fellow after whom
Haller Park was named in Mombasa. Guido and I went to Primary School
together in Mombasa, then worked at Credit Suisse at the same time and
then we meet again and now he is head of Global Markets for Standard
Bank.
Herve is a wonderful Connector. Guido tells me he caught all kinds of
Fish off Kiwaiyu last weekend and said The Pirates have expelled the
Trawlers and the Ocean is teeming.

Haller Park Bamburi Mombasa
http://bit.ly/fexVm9

Its very dreamy once You get right inside.

Jayesh walks in My Office this Morning and says Aly-Khan
http://www.rich.co.ke/ has a Google Page Rank of 5. I said I know. He
said the Standard ranks the same. I said I know but Not Many others
Know except for Bob and Martin, who got it.
Michael got it first.

read more


A special report on China's place in the world Friends, or else The Economist
Law & Politics


IN A recent essay Hugh White, a former Australian security and defence
official, describes the following exchange with his American
counterparts: “I put this catechism to them: ‘Do you think America
should treat China as an equal if its power grows equal to America’s?’
The answer is always no. Then I ask, ‘Do you think China will settle
for anything less than being treated as equal?’ The answer to that is
always no, too. Then I ask, ‘So how do you expect the US and China to
get along?’ I usually get a shrug by way of reply.”

One way to resolve these tensions would be to put security first.
America could aim to block China now before it gets any stronger.
America won the cold war by isolating the Soviet economy and
stalemating its armed forces. But trying that again would be a bad
idea, as Robert Art explains in a recent issue of Political Science
Quarterly. For one thing, the cost would be astronomical; for another,
America might suffer as much as China. The two countries’ economies
are intertwined and China owns more American government debt than
anyone else. In war, nations override such factors out of necessity.
If an American president tried to override them in peace out of
choice, he would face dissent at home and opprobrium abroad.

Joseph Nye, of the Kennedy School at Harvard, has argued that the best
way to make an enemy of China is to treat it like one.

Barack Obama articulated the first track on his visit to China in
November last year. He told the students at Fudan University, in
Shanghai: “The United States insists we do not seek to contain China’s
rise. On the contrary, we welcome China as a strong and prosperous and
successful member of the community of nations.” This means, as the
president later explained in front of Hu Jintao, his Chinese opposite
number, that China’s “growing economy is joined by growing
responsibilities”.

“Engagement” is backed by a second policy, best described as hedging.
America must be able to deploy enough force to deter China.

Conclusions

The Nub of the Issue is an Economic One. The United States is being
stretched to breaking Point. It can no longer afford to Project Full
Spectrum Dominance. The United States was able to get the Gulf to foot
its Gulf War Footprint but its last Decade Return on its Military
Investment is completely negative. This is the Real and Existential
Crisis. The Conversation continues to have a 'fairytale' Feel about
it. And I believe President Obama has had an Epiphany and is currently
stymied because he gets it but has yet to work out how he navigates
his way.

Aly-Khan Satchu
www.rich.co.ke

North Korea The Hermit Kingdom The Star
http://bit.ly/gzglrT

read more


US Bond Market at a Glance WSJ
World Of Finance

1-Month Bill    0/32    0.086
3-Month Bill    0/32    0.147
6-Month Bill    0/32    0.185
1-Year Note    0/32    0.271
2-Year Note    1/32    0.608
3-Year Note    4/32    0.962
5-Year Note    2/32    1.872
7-Year Note    2/32    2.627
10-Year Note    4/32    3.259
30-Year Bond    9/32    4.441

Treasury prices fell on Wednesday, pushing yields on 10-year notes to
the highest level since June, as investors signal worry that the U.S.
is not dealing with its budget deficit.At the intraday high in 10-year
yields, they were up 30 basis points from Monday, the fastest 2-day
rise since September 2008 -- just after Lehman Brothers filed for
bankruptcy.

Bond prices pared a decline after the government finished its sale of
10-year notes, though it had to pay the highest yield since May.

The yields touched 3.34%, the highest level in six months and up from
2.94% on Monday -- still the biggest 2-day increase since June 2009 in
late afternoon trading.

Conclusions

A High Velocity Spike which should have served Notice on Bernanke and
his QE2 Wizardry .

read more


Currency Markets at a Glance WSJ
World Currencies

Euro 1.3297
Pound 1.5826
Yen 83.85
Aussie 0.9863 unemployment rate ticked down to 5.2% in November from
October’s 5.4% reading.
Rand 6.8546
South Korean Won 1137.10 The Bank of Korea also kept its benchmark
interest rate on hold on Thursday 2.5%
India Rupee 45.13

Worries that China will soon move to tighten policy again.

Treasury yields have jumped in the past two days by the most since
September 2008.

“Higher U.S. rates should cause the U.S. dollar to strengthen in
yield-sensitive currency pairs,” said Greg Anderson, a currency
strategist at Citigroup.

One of the most sensitive currencies to U.S. yields is the Japanese yen.

Conclusions

Elevated Noise Levels.

read more



An international report card Economist
Misc.


SINCE 2000 the OECD has tested school pupils in mainly rich countries
every three years on reading, mathematics and science. Its latest
report, published on December 7th, gives the results for students in
65 countries or regions, many of which are included for the first
time. And it is a newcomer to the Programme of International Student
Assessment (PISA) that has taken top spot in each discipline.
High-school children in Shanghai outscored those elsewhere by a
substantial margin in reading, the report's focus. Shanghai, Finland,
South Korea and Hong Kong also have some of the smallest variations
among student scores. Canada and Japan are the best-performing of the
G7 nations, and Poland has made significant strides. Britain has
slipped down the rankings, despite spending heavily on education in
the last decade.

read more


“I’ve lived my life on the edge of a crumbling cliff, alert to detect the first rattle of pebbles announcing the avalanche,” Kazan
Misc.

For Kazan, however, the greatest show on earth was the show of human
emotions. “If you can stir up the real emotion—whether of anger or
love or desire . . . if you can stir it up and use it, now you have
something that’s unique or unusual,” he said. “That’s what drama is.”
Between 1945 and 1962, onstage and on the screen, Kazan was, by his
own admission, “the most successful director at work in America.” A
sort of entrepreneur of emotional complexity, he had a gift for
releasing the articulate energy of actors and for turning psychology
into behavior. Marlon Brando, James Dean, Warren Beatty, and Lee
Remick all made their screen débuts in Kazan’s films, which have just
been released in an eighteen-DVD set, “The Elia Kazan Collection.”

The best defense against envy is to become the envied

“Acting is a sexual act,” he wrote in “A Life.” “An actor as much as
an actress is presenting himself for desire. ‘I’m powerful,’ he is
saying. . . . He’s also saying, ‘I’m potent.’

“Our union, immediate on first encounter, was close. . . . Possibly
because we were both freaks.” Kazan and Williams also had in common an
oppressive father, a doting mother, a faith in sexual chaos as a path
to knowledge, and a voracious appetite for success.

God bless all con men and hustlers and pitchmen who hawk their hearts
on the street, all two-time losers who’re likely to lose once more,
the courtesan who made the mistake of love, the greatest of lovers
crowned with the longest horns, the poet who wandered far from his
heart’s green country and possibly will and possibly won’t be able to
find his way back, look down with a smile tonight on the last
cavaliers, the ones with the rusty armor and soiled white plumes, and
visit with understanding and something that’s almost tender those
fading legends that come and go in this plaza like songs not clearly
remembered.

“Wonder is our need today, not information,” Kazan wrote. Wonder was
the gift that he bequeathed to his time and to ours. ♦

read more


The elegant bar area at Lincoln Bloomberg
Food, Climate & Agriculture

Eventually, Jonathan Benno’s $20 million Lincoln should become the
destination restaurant it’s meant to be. The food has a long way to
go, but the digs are really nice.

read more




Frozen orange-juice futures soared to their highest price since 2007 WSJ
Commodities


Frozen orange-juice futures soared to their highest price since 2007
on Wednesday on fears that freezing temperatures next week could
damage Florida's citrus groves.Prices could move even higher by the
end of the week as cold weather heads toward the state, which is the
second-largest producer of juice oranges after Brazil.The January
futures contract rose 3.3% to settle at $1.660 a pound on ICE Futures
U.S., its highest price since May 2007.

Orange Juice Jan 2011 INO 1 Year Chart 166.00 +5.30 (+3.13%)
http://bit.ly/hl85Vs

Last Price    166.00
Open Int.    18085
Contract High    170.25 Contract High Date    2010-12-08
Contract Low    133.75
First Delivery    2011-01-31
Expiration    2011-01-10

Conclusions

I have a supreme conviction that global food markets are but the
perturbation of a butterflys's wing away from a serious tipping point.
http://bit.ly/9AtLTm

I have a supreme conviction that global food markets are but the
perturbation of a butterflys's wing away from a serious tipping point.
In fact, I would venture that the best way to play the narrative
fallacy that is the "Global Climate Change Denial Camp" is via buying
a basket of breakfast commodities and grains. There are more of us,
our average calorific intake is a multiple of what it was, and we have
toasted the planet -- capping global agricultural output. Narrowing
that perception gap and converting it into real action is going to be
like herding cats.

The UN's Food and Agriculture Organization (FAO) is fond of saying
that the food markets have ample inventory and that there is
absolutely nothing to worry our little heads about. May I refer you to
wheat, which ramped 38 percent higher in July, 3.7 percent in August,
and so far this month a further 7 percent. The reasons are well known:
Russia has undergone a heatwave and Vladimir Putin (probably not keen
on going the way of Indonesia's President Suharto - anger over soaring
food prices after he cut fuel and some food subsidies helped drive him
from power in 1998) immediately cancelled all Russian wheat exports.
This is a perfect example of the asymmetry of the food markets. The
moment there is a hint of trouble, countries start hoarding. It
creates a concertina effect.

read more


Live 24 Hour Spot Gold Price KITCO 1386.80 Last
Commodities


It reached an all-time high of $1,430.95 on Tuesday

Conclusions

I expect New Highs This Year.

read more



Citi sees significant demand for Nigeria eurobond Reuters
World Of Finance

Citigroup expects to see strong demand for Nigeria's $500 million
debut eurobond despite volatility in global capital markets, Chief
Executive Vikram Pandit said on Wednesday.

"We believe that there will be significant demand for a bond offering
from Nigeria and it is evidenced by demand from not only from
investors ... in developed markets but also emerging markets," Pandit
said in a roundtable interview with reporters in Nigeria's commercial
capital.

Citi is the lead book-runner for the 10-year bond, which aims to
establish a benchmark for Nigeria in the global market and allow local
companies to follow suit, enabling them to raise long-term funding
more cheaply than at home.Banking sources have said Nigeria plans a
roadshow to the U.S. next week and may talk to some European investors
directly in a bid to complete the deal before the end of the year,
though the timing will depend on market conditions.

"It will be a question of how you price the bond so that it is not
only priced to create the right benchmark at the tightest price but
also trades well in the after-market," Pandit said.

Dollar versus Nigeria Naira ForexPros 151.9
http://bit.ly/bIrrqB

read more


Nigeria All share Bloomberg Visual +18.504% 2010
Africa


Value24,681.17   
Change43.000    
% Change0.175

Conclusions

The Long Term Story is a No Brainer. The Near Term one a lot trickier
given the Presidential Election Next Year and the Fact that Jonathan
is seeking to upend a long term Rotation Policy between the Muslims
and the Christians.

read more



South Africa All share Bloomberg Visual +14.938% 2010 27 Month Highs
Africa

Value31,799.26   
Change29.380    
% Change0.092

Conclusions

Expecting about 3-5% Extension.

read more


Kenya could descend back into violence The Guardian
Law & Politics

Kenya could descend into violence worse than the 2008 post-election
crisis unless rampant corruption in the ruling elite is tackled, the
US ambassador to Kenya has warned in a report to Washington.

Michael Ranneberger's cable, written in January, is scathing about
efforts to reform the political system in the country. "While some
positive reform steps have been taken, the old guard associated with
the culture of impunity continues to resist fundamental change," he
wrote.

That culture has existed since independence, he said, adding that
President Mwai Kibaki, prime minister Raila Odinga and "most members
of the cabinet and leaders of the political parties" are part of it.

"Failure to implement significant reforms will greatly enhance
prospects for a violent crisis in 2012 or before – which might well
prove much worse than the last post-election crisis," he wrote.

Describing Kenya as an important strategic partner of the US,
Ranneberger described the battle against the ruling elite as a game of
chess. "While we are no mean chess players ourselves, it is very
difficult to anticipate their next move or the motives behind 'reform'
steps."

He said that although "the grip of the old guard political elite on
the levers of state power and resources remains largely intact,
hairline fractures are developing in their edifice which – if we
continue to work them intensively – will develop into broader
fractures and open up the potential for a peaceful process of
implementation of fundamental reforms."

Meanwhile, other documents, which indicate how closely the US is
watching China's rise in Africa, claimed Beijing was providing
military and intelligence support to Kenya with the help of a corrupt
official. A 17 February memo from the US embassy in Nairobi said China
was providing weapons to Kenya "in support of its Somalia policies",
and computers and telecommunications equipment to the Kenyan National
Security and Intelligence Service (NSIS).

The memo's conclusion made clear the potential for antagonism between
America and China, which has been multiplying its investment in Africa
in return for mineral resources. "Collaboration between the USG [US
government] and China in Kenya should be approached cautiously as
there appears to be little dovetailing of our interests to date," it
said.

"Given the possibility of a backlash by the Kenyan people against
China, perhaps over the issue of imported Chinese labour or
mishandling of natural resources, there may be benefits to keeping our
distance, at least publicly, from China."

Another memo, from the US consulate in Lagos, Nigeria, on 23 February
this year , was even more blunt in its assessment of the potential
rival superpower.

Apparently based on a conversation with Johnnie Carson, the US
assistant secretary of state for African affairs, it said: "China is a
very aggressive and pernicious economic competitor with no morals.
China is not in Africa for altruistic reasons. China is in Africa for
China primarily."

It warned of "trip wires". "Is China developing a blue water navy?
Have they signed military base agreements? Are they training armies?
Have they developed intelligence operations?

"Once these areas start developing then the United States will start worrying."

In the meantime the US will would continue to push democracy and
capitalism, in contrast to "Chinese authoritarian capitalism".

Referring to the Zimbabwean and Sudanese leaders respectively, the
cable said: "The Chinese are dealing with the [Robert] Mugabes and
[Omar al-]Bashirs of the world, which is a contrarian political
model."

Kenya government spokesman Alfred Mutua described the bribery
allegations as "preposterous and out of sync with reality".
"Allegations of money being given for medical purposes are baseless,"
he said. "We can only conclude that the cable was based on assumptions
or manufactured analysis and have no bearing as far as we can
ascertain."

Conclusions

The Information Stream has broken its Banks and there is a Premium for
those who can see the 'new Normal' The New Landscape.

read more



Kenya’s Benchmark Coffee Grade Jumps 19% at Final Sale of Year Bloomberg
Commodities

Kenya’s benchmark coffee grade rose as much as 19 percent at the final
auction of the year as buyers replenished their stocks, the Nairobi
Coffee Exchange said.The top AA grade sold for as much as $721 for a
50-kilogram (110-pound) bag, compared with $604 a week earlier, the
agency said today in an e-mail from the capital, Nairobi. The average
price for the grade climbed 1.3 percent to $432.27 a bag, while
supplies increased 36 percent to 5,790 bags, it said.

The average price for all the coffee sold rose 1.8 percent to $347.44
a bag, the agency said.

“The demand was very high because we have started the Christmas
break,” Mansukh Shah, a coffee trader at Nairobi-based Alanwood Ltd.,
said by phone. “We even got good quality coffee and buyers want to get
more because of low stocks in the country.”

Sales rose 16 percent to 18,636 bags worth $7.9 million, while
supplies grew 5.6 percent to 24,722 bags, the agency said.

Auctions will resume on Jan. 11, Shah said.

Kenya’s coffee exports through the Nairobi Coffee Exchange, which
handles the bulk of the shipments, fell 7.2 percent in 2009-10 to
36,197 tons after production declined, the agency said on Oct. 1. The
country has yet to release an output forecast for this year, it
said.Kenya harvests the bulk of its crop from October through
December, while a secondary crop is reaped from April to June. The
following are details of yesterday’s auction in U.S. dollars for a
50-kilogram bag:

Conclusions

During the period 1 Year to Sep 2010 tea prices rose 16 per cent from
Sh147 a kilo to Sh170, while coffee rose 50 per cent from Sh262 a kilo
to Sh392 as per Sasini.

read more


BOC Kenya issues profit warning amid rising costs Business Daily
N.S.E Equities - Industrial & Allied


Gas manufacturer BOC Kenya on Wednesday issued a profit warning on
flat sales amid rising operational costs, underlining the poor
performance of the industrial sector amid a profit boom in corporate
Kenya.The firm said in a notice to the Capital Markets Authority that
its net profits would be lower than those of 2009 — which stood at
Sh153.9 million, blaming the outlook on restructuring costs.

“This is in line with restructuring and other measures announced and
implemented following this year’s half results,” the firm said in a
statement.

Its net profit dropped to Sh29 million in the six months to June,
compared to Sh102.8 million in the same period last year—a pointer
that business failed to recover in the second half of the year despite
the recovery of the Kenyan economy.

BOC Kenya share price data 1st Half Results Profits Warning here www.rich.co.ke
http://bit.ly/cjoJLU

Par Value:                  5/-
Closing Price:          140.00
Total Shares Issued:          19,525,446
Market Capitalization:        2,734M
EPS:            7.88
PE:                17.766

read more



 
 
N.S.E Today

The Nairobi All share pushed 0.28 points higher to close at 97.75.
The NSE20 eased 9.51 points to close at 4371.89 and sits 7.077%
beneath its November 2010 High.
Market Cap was 1.166115 Trillion versus 1.162763 Trillion last time.
Equity Turnover was increasingly vigorous at 489.717m versus 438.329m last time.
Buyers stepped up for the Two Bellweather Stocks with EABL firming
0.49% to close at 206.00 and Safaricom rallying 2.2% to 4.65 and +3.3%
4.70 trading at the Finale.



N.S.E Equities - Agricultural

Sasini Tea and Coffee traded 992,800 shares and closed at 12.80.
Sasini Tea trades on a Price Earnings Multiple of 2.97 and reported FY
results 86% ahead of the Previous Year.

Sasini Tea FY Results and share price data www.rich.co.ke
http://bit.ly/3hp0I2

Kakuzi traded 9,600 shares and closed at 79.50. The PE is about 4.4 here.
Rea Vipingo traded 500 shares at 15.50 unchanged.



N.S.E Equities - Commercial & Services

Safaricom

shares volume 11,168,700
total turnover     52,069,216
avg price     4.66 Closing Price 4.65 +2.2%
high price 4.75    
low price     4.55
last price     4.70

Conclusions

Safaricom traded 3rd at the Bourse and rallied 2.2% to close at 4.65
and was trading at 4.70 +3.3% into the Finish and was Bid at that
Level. Demand versus Supply was 18.872m shares on Demand versus 6.402m
Supply signalling Further Upside Traction. We spent a great deal of
time at 4.50 and plain 'oversold' but today Buyers stepped up with
some Vigour and Purpose. Safaricom has Full Year Earnings Guidance [I
am told] at the Double Digit level and ona Trailing PE of 12.00, it
has pretty much all the [Airtel] News priced into it. Safaricom traded
11.168m shares worth 52.069m.

Safaricom share price data 1st Half Results and Analysis www.rich.co.ke
http://bit.ly/d9amsi

Par Value:                  0.05/-
Closing Price:          4.55
Total Shares Issued:          40,000,000,000
Market Capitalization:        182,000M
EPS:            0.38
PE:                11.974

Swot Analysis Key Highlights 6 months to 30 Sep 2010 versus to 30 Sep 2009
EPS 0.193 versus 0.168 +14.9%
Revenue 47.111850b versus 40.660829b +15.9%
PAT 7.630591b versus 6.631898b +15.1%
16.71m Customers
CAPEX was 10.1b
Customer Market share 76.7% from 78.3 -> Note Well They lost only 1.6%
Data Revenue as a Percentage of Total Revenue 23.8% versus 17.7% in Sep 2009
Blended ARPU 456.6 versus 466 previous Kenya Data 3.61m #Data Users 9%
of #Kenya Population
3.61m #Data Users some 9% of #Kenya's Population

Access Kenya closed at its 52 week low of 15.50 again today. Access
Kenya traded a 15.50-15.60 range and a Big Slug of shares some 682,100
shares worth 10.573m. Access Kenya has retreated 21.152% over a 1 Year
Period and trades on a PE of 20.395.

Access Kenya share price data www.rich.co.ke
http://bit.ly/4zIr3s

Kenya Airways retreated 1.075% to close at 46.00. Kenya Airways traded
a 46.00-46.50 range and 208,100 shares. Local News have been carrying
stories of a Deficit in Staff Morale. Kenya Airways reported 3.11 1st
EPS Half Results some way ahead of the previous Years Equivalent
Period. If Those Results are maintained, the Forward is at 7.39.

Kenya Airways 1st Half results share price data here www.rich.co.ke
http://bit.ly/ax6Ydy

ScanGroup was unchanged at 60.00 and traded 19,400 shares.

TPS Serena eased 50 cents to close at 68.00 and traded 11,600 shares.

Nation eased a shilling to close at 158.00 and traded light just 2,500 shares.
Standard firmed 50 cents to close at 44.50 and traded 2,100 shares.

CMC Holdings firmed 0.833% to close at 12.10 on just 18,000 shares.
CarGen did not trade.



N.S.E Equities - Finance & Investment

KCB was unchanged at 21.75 and traded a 21.50-22.25 range and 1.182m
shares worth 25.777m. KCB trades on a Trailing PE of 11.821 and a
Forward of below 8.00. Do have a look at Martin O-O's Presentation at
#Mindspeak here http://bit.ly/1mPS6v . He makes a compelling Case. I
expect a Re Rating and probably coincident with the or before the Full
Year Earnings release.

KCB share price data www.rich.co.ke
http://bit.ly/bshUrX

Par Value:                  1/-
Closing Price:          21.75
Total Shares Issued:          2,950,169,088
Market Capitalization:        64,166M
EPS:            1.84
PE:                11.821

Equity Bank was the 2nd most actively traded share at the Bourse.
Equity Bank retreated 0.97% to close at 25.50. Equity Bank has posted
an 89.018% 1 Year Return and has a 52 week high of 27.75 from 9th
August. Equity Bank trades on a Trailing PE of 22.588 and the
Expansion Rate at the 3rd Quarter Mark was 55%, if I recall correctly.

Equity Bank share price data www.rich.co.ke
http://bit.ly/1tAg4B

Par Value:                  0.50/-
Closing Price:          25.75
Total Shares Issued:          3,702,777,088
Market Capitalization:        95,347M
EPS:            1.14
PE:                22.588

COOP BANK traded 4th at the Bourse. COOP Bank eased 5 cents to close
at 19.00 and traded a 19.00-19.10 range and 2.251m shares worth
42.887m. COOP Bank has posted 114.988% 1 Year return and is set to
deliver strong Full Year Results. COOP Bank trades on a 22.16 Trailing
PE.

Barclays Bank eased 0.82% to close at 60.50 and traded a 60.00-61.50
range and 214,900 shares worth 13.053m. Barclays Bank has posted a
46.993% 1 Year Return and sits at the bottom of its Trading Range here
some 13.571% below its 2010 High of 70.00 from 15th July 2010.
Barclays trades on a Trailing PE of 13.487.
StanChart firmed 0.78% to close at 258.00 and traded 6,600 shares.

Centum was marked down 3.3% to close at 22.00 and traded a 22.00-23.00
range and 771,000 shares worth 17.107m. Centum has posted a 109.524% 1
Year Return and printed a 2010 high of 26.00 29th September this Year.

Kenya Re traded 6th at the Bourse. Kenya Re rallied 2.81% to close at
12.80 and traded a 12.00-12.85 range and 2.604m shares worth 33.389m.
Kenya Re has posted a 19.582% 1 Year Return and trades on a Price
Earnings Multiple of 5.633.

Kenya Re share price data and Results here www.rich.co.ke
http://bit.ly/as8dhu

Par Value:                  2.50/-
Closing Price:          12.45
Total Shares Issued:          600,000,000
Market Capitalization:        7,470M
EPS:            2.21
PE:                5.633

Jubilee eased 0.53% to close at 187.00 and traded 1,500 shares.
Jubilee trades on a Price Earnings of 10.256 and that is a noteworthy
Divergence from Kenya Re. Jubilee also carries its Investments at
Historic Cost which means there is some Fat on the Balance Sheet as
well.
PanAfric traded 5,000 shares at 66.00 -5.71%. PanAfric trades on a PE
Multiple of 24.221.

NIC Bank was unchanged at 49.00 and traded a 49.00-49.25 range and
453,100 shares worth 22.209m. I have the Forward PE at 10.00.
DTB rose 0.76% to close at 133.00 and traded 16,300 shares. DTB is
similarly on a Forward PE of about 10.00.
NBK improved 0.65% to close at 38.75 on 11,800 shares.
HFCK eased 1.98% to close at 24.75 and traded 132,600 shares worth 3.309m.
CFC StanBic eased 0.64% to close at 78.00 on low volume of 5,200 shares.

Olympia Capital closed lower at 6.20 and traded 7,900 shares.



N.S.E Equities - Industrial & Allied

EABL was the most actively traded share at the Bourse. EABL improved
0.49% to close at 206.00. EABL traded 497,900 shares worth 103.064m.
EABL has taken a more offensive Regional Posture via its Serengeti
Move in Tanzania and this lifted the Price to an All Time High of
226.00 less than 15 sessions ago. EABL met Profit taking and has now
finished its correction above the 200.00 mark. EABL has posted a
56.354% 1 Year Return. The Price Earnings is 22.552 and a reflection
of Strong Foreign Institutional Demand for African Beverage Assets.

EABL FY Earnings and share price data www.rich.co.ke
http://bit.ly/57wrgL

Par Value:                  2/-
Closing Price:          205.00
Total Shares Issued:          790,774,336
Market Capitalization:        162,109M
EPS:            9.09
PE:                22.552

Mumias Sugar bounced 1.57% to close at 9.70 and traded 887,000 shares.
Mumias Sugar has posted a 49.34% 1 Year Return and trades on a PE of
9.439.

Kenya Power ordinary shares firmed 1.098% to close at 23.00 and traded
633,500 shares.
The Rights rallied 7.407% to close at 2.90 and traded 813,200 times.
KenGen firmed 1.488% to close at 17.05 and traded 172,700 shares.
Cables closed at 16.20 and traded 9,300 shares.

Bamburi Cement traded 5th. Bamburi Cement eased 0.51% to close at
197.00 and traded 188,700 shares worth 371.86m.
ARM was unchanged at 172.00 and traded 4,900 shares.
Portland did not trade.

KenolKobil which gave Bullish Full Year Earnings Guidance embedded in
a Press Response to the Proposed Fuel Price Caps this week, eased 5
cents to close at 9.95 and traded 304,500 shares.
Total closed at 28.75 and traded 6,300 shares.

BOC Kenya issued a Profits warning after the Market closed yesterday
[see above] and traded unchanged today at 140.00 on 100 shares.
Carbacid traded a 100 shares and closed 2 better at 147.00.

Sameer closed 1.65% firmer at 6.15 and traded 3,500 shares.
Eveready rowed back 3.17% to close at 3.05 on 69,200 shares. Eveready
trades on a PE of over 70.00.

BAT was unchanged at 279.00 and traded 900 shares.
Crown Berger eased 25 cents and closed at 31.75 with 1,200 shares traded.
Unga closed at 10.80 and traded 13,400 shares.



by Aly Khan Satchu (www.rich.co.ke)
 
 
Login / Register
 

 
 
Forgot your password? Register Now
 
 
December 2010
 
 
 
 
 
COMMENTS

 
In order to post a comment we require you to be logged in after registering with us and create an online profile.