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Satchu's Rich Wrap-Up
 
 
Friday 17th of December 2010
 
Morning
Africa

www.rich.co.ke Register and its all Free.

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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

A #Mindspeak Aperitif RICH TV
http://bit.ly/1mPS6v

My Presentation at @Africagathering Business Start Ups Making Ideas Happen
http://bit.ly/he67J8

I start by playing the Rolling Stones' Start Me Up
http://bit.ly/eA23yj

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

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

Macro Thoughts

Home Thoughts

Shall I part my Hair behind? Do I dare eat a Peach?
I shall wear White Flannel Trousers, and walk upon the Beach.
I have heard the Mermaids singing Each to Each.
TS Eliot

read more


THE ROVING EYE Hell hath no fury like an empire mocked Pepe Escobar Asia Times
Law & Politics


The revolution will not be televised, will not be televised.
The revolution will be no rerun brothers;
The revolution will be live.
- Gill Scott-Heron, 1970

read more


Gill Scott-Heron, 1970 Google Image Search
Misc.

Make no mistake on what the real "new world order" is all about: the
battlefield reads like a resistance movement to the appropriation of
information technology by the power elites.

Yet make no mistake: it's not only Ancient Rome that's burning. It's
the whole empire. Hardcore hyper-capitalism may be simultaneously a
Terminator and a giant with clay feet. Progressives must solve the
riddle of how to fight this paradox. Sun Tzu's Art of War meets Gilles
Deleuze and his underground war machine. Nomad information-technology
guerrillas are already deployed. The US counter-insurgency is being
turned upside down. Netwar is a go. And don't forget the condoms.

read more


Freed on bail – but US steps up efforts to charge Assange with conspiracy Independent
Law & Politics


As Mr Assange arrived last night at the East Anglia mansion after his
release from a London prison on bail, he said he considered the threat
of US legal action to be "extremely serious" even though "they have
yet to be confirmed". He told Sky News: "We have heard today from one
of my US lawyers that there may be a US indictment for espionage for
me coming from a secret grand jury investigation. "There are obviously
serious attempts to take down the content by taking us down as an
organisation and taking me down as an individual."

Conclusions

As I said It is entirely pointless holding his Person.

read more


Wen Visits Pakistan to Revive Road-Rail Link to China Bloomberg
Law & Politics

Chinese Premier Wen Jiabao travels to Pakistan today for a visit that
officials say may revive a planned road-rail network linking China to
the Persian Gulf.

Wen and Prime Minister Yousuf Raza Gilani will meet today to discuss
how to make the Chinese-built port of Gwadar operational, Gilani told
journalists on Dec. 15, according to the state-run Associated Press of
Pakistan. The port, which lacks a rail or multi-lane highway link to
the rest of Pakistan, is envisioned as the terminus of a transport
corridor that would carry Middle Eastern oil and other goods to
western China.

Chinese engineers have finished a feasibility study for a railroad and
pipeline from Gwadar to the western Chinese city of Kashgar. It would
follow the route of the China-built Karakoram Highway, a Chinese
specialist on Pakistan, Li Xiguang, wrote on Dec. 14 in the Global
Times, an English-language website controlled by the ruling Communist
Party’s official newspaper.

Conclusions

A transport corridor to Gwadar “will provide China with the shortest
possible route to the oil-rich Middle East, replacing the dangerous
maritime route” around Southeast Asia, Li wrote.

read more


“A revolution is not a dinner party,” Mao Zedong
Law & Politics


“A revolution is not a dinner party,” Mao Zedong declared. Rather, as
he helpfully clarified in 1927, it is “an insurrection, an act of
violence.” He might have warned that nation building is no picnic,
either. Mao rose to supremacy within the Chinese Communist Party
(C.C.P.), through several bloody purges of “revisionists” and
“rightists.” After long years as a marginal peasant leader, he finally
brought his revolution to all of China, forcing his great rival Chiang
Kai-shek to flee to Taiwan (then called Formosa). Founding the
People’s Republic of China in 1949, Mao exulted, “The Chinese people,
comprising one quarter of humanity, have stood up.” He soon knocked
them down, overwhelming the gradual processes of China’s modernization
with the frenzy of permanent revolution.

But Mao still gazes across Tiananmen Square from the large portrait
hanging on the Gate of Heavenly Peace. Visitors from the countryside
often line up all day for a fleeting glimpse of his embalmed corpse
south of the square, and in folk religions throughout China Mao is
revered as a god.

Mao, in an official photograph, on a horse during a 1947 trip to
north-central China. Two years later, his dominion was complete.

read more


Currency Markets at a Glance WSJ
World Currencies

Euro 1.3288 bounced from 1.3217 levels Yesterday -
Pound 1.5635
Yen 83.89
Dollar Index 79.81
Aussie 0.9912
India Rupee 45.26
South Korean Won 1149.40
Rand 6.79

“The relative resilience of the euro to the credit-ratings downgrade
in Belgium, a ratings warning for Spain and a government in Italy
which is probably unworkable in its present form suggest there is a
large degree of optimism in the market that EMU [economic and monetary
union] will survive the sovereign-debt crisis,” said Jane Foley,
senior currency strategist at Rabobank.

Conclusions

As I said yesterday The Euro was a Buy at 1.32.

Euro versus Dollar INO 1.3284
http://bit.ly/bkZ8Eg

read more



Luxury Stocks Flying High WSJ
World Of Finance


"The luxury sector was the sector to be in in 2010," says Caroline
Reyl, who manages a €1 billion-plus luxury-focused Premium Brands fund
for Pictet, an asset management company in Zurich. "Our fund is up 44%
this year. We're slightly above our peak from 2007."

But the really interesting story relates to the fundamentals. Luxury
goods companies are selling to the two groups of people who have any
money left: The rich, who are getting richer and richer, and consumers
in emerging markets, who are getting richer.

"About 40% of the sales of premium brand companies are related to the
emerging market consumer," says Ms. Reyl. Boats are carrying a lot of
Swiss watches, cases of champagne and fancy Italian shoes to the
newly-wealthy in China, Brazil and India. And emerging market tourists
are picking up a lot of luxury goods when they travel.

Greater China–including Hong Kong and Taiwan–now accounts for 15% of
global luxury demand, says Ms. Reyl. She believes that by the end of
2011 China will have overtaken Japan, once the powerhouse of luxury
sales.

read more


The cost of sending money home Economist
World Of Finance


SOME 192m migrants—3% of the world population—sent remittances
totalling $316 billion to developing countries last year, according to
the World Bank. In the third quarter of this year, the cost was nearly
9% of a remittance of $200. Fees and exchange-rate margins make up the
service-providers' charges. Banks are the most expensive, charging an
average of 13% of the total amount. Post offices and money-transfer
operators charge 9% and 7%, respectively. The cost of sending
remittances is negatively correlated with the number of migrants and
service-providers in a country; the more competition, the lower the
cost. Our chart shows, for each country, which is the most expensive
country to send $200 to. In Brazil, for example, it is most costly for
resident Bolivians to send money home, costing almost three times as
much as it does for Peruvians (not shown). In France, the most
expensive remittance destination is Vietnam, followed closely by
China.

read more


Mike Tyson’s abandoned mansion somewhere in Ohio,” #Photo Booth
RealEstate, Housing & Construction


“One of the most memorable images I saw this year was from a young
photographer who found Mike Tyson’s abandoned mansion, somewhere in
Ohio,” Jessica Dimmock writes from New York City. “The pool has grown
moldy, the gaudy mirrors are cracked, and there are leaves all over
the place. In these years of economic crisis, when so many homes have
been foreclosed upon, this house seemed just so symbolic of the
careless and haphazard spending, and the rot that it led to.”

read more


Untitled, from the series “Outside In” #Photo Booth
Misc.


“Gill literally collected things he found in the beach of the seaside
town and put them inside his camera while taking pictures. The result
is an unusual alchemy of both what is in front of the camera and what
is inside. When not burying photos or sticking flowers to them, he can
be found at his Hackney studio crafting beautiful handmade books which
he self publishes.”

read more



Commodity Markets At A Glance WSJ
Commodities

Gold futures fell as traders booked profits ahead of the new year and
weighed a new proposal to curb speculation in the commodity
markets.The December contract fell $15.10 or 1.1% to $1,370.40 a troy
ounce on the Comex division of the New York Mercantile Exchange. The
most actively traded contract, for February delivery, settled down
$15.20 to $1,371.00.

read more



Silver December 2010 INO 28.757 -0.468 (-1.60%)
Commodities


Last Price    28.757
Contract High Date    2010-11-09 Contract High    29.175
Contract Low Date    2006-06-19
First Delivery    2010-12-31
Expiration    2010-12-29

Conclusions

I think the Silver Move wagged Gold.

read more



Soft Commodities at a Glance INO
Commodities


Cocoa March 2011 3003 +10 (+0.33%) INO
http://bit.ly/fvg1Up

Last Price    3003
Open Int.    67010
Contract High    3477
Contract Low    2410
First Delivery    2011-03-31
Contract High Date    2009-12-16
Contract Low Date    2009-05-14
Expiration    2011-03-16

Conclusions

Prefer to be Long and keeping an Eye on the Ivory Coast.

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A Bumper Year Real estate may be hurting. But farmland has become a hot commodity WSJ
RealEstate, Housing & Construction


Arable land has again become a hot commodity—despite the struggles of
the broader real-estate industry. It's attracting buyers ranging from
wealthy individuals and institutional investors to farmers themselves.
Many are investing in farmland funds, though some farmers are
expanding operations.

"It's just gotten sexy lately," says Shonda Warner, managing partner
of Chess Ag Full Harvest Partners, which has a fund with about $50
million invested in farmland in four states.

Farmland values in key upper Midwest states shot up 10% in the third
quarter compared with last year, according to the Federal Reserve Bank
of Chicago. The Kansas City Fed says prices of irrigated farmland
jumped 12% in Kansas and Nebraska in the same period. The recent
increases follow a 55% rise in value in real terms over the past
decade.

n October, Teachers Insurance & Annuity Association of America—part of
the mammoth TIAA-CREF retirement plan for academics—bought Westchester
Group Inc., which already managed some of TIAA's farmland investments.
TIAA has about $2 billion invested in more than 400 farms in the U.S.,
South America, Australia and Eastern Europe.

George Washington University, in Washington, D.C., began buying in
2007 and now has $80 million of its endowment invested in farmland.
One-quarter of that amount is in the U.S., and the rest is
abroad—including money in a fund that leases land in Poland.

And Luminous Capital, an investment adviser in Los Angeles and Menlo
Park, Calif., that serves wealthy individuals, has put $45 million of
its clients' money into a fund that plans to buy 20 to 25 U.S. farms
growing crops such as corn, cotton and wheat.

Conclusions

I have a supreme Conviction about this.

The Star The Farmers will drive the Ferraris
http://bit.ly/b7fbfU

read more


Ivory Coast violence leaves 18 dead The Guardian
Law & Politics

Security forces loyal to Ivory Coast's isolated leader Laurent Gbagbo
clashed violently with opposition-aligned rebels and demonstrators
today [Thursday] , leaving several people dead and pushing the country
closer to all out conflict.

In the main city Abidjan, police used live rounds to disperse
supporters of Alassane Ouattara, the widely acknowledged winner of
last month's presidential run-off, as they marched on the headquarters
of state television. News agencies said at least four people were
killed, although an opposition spokesman claimed the death toll could
be as high as 18.

Elsewhere in the city, the army exchanged heavy fire with rebel forces
guarding the hotel where Ouattara is holed up, after the rebels tried
to remove roadblocks. A stray rocket-propelled grenade hit the
perimeter wall of the US embassy, though no one was hurt.

As gunfire echoed across the city, and UN helicopters flew overhead,
most residents stayed at home, fearful of a return to the civil war of
2002-2003 that left the country divided between a rebel-held north and
government-controlled south. The New Forces rebels have backed
Ouattara, a northerner, and, in an ominous development, they clashed
with government troops in the central town of Tiebissou when trying to
push south of the ceasefire line.

Despite being almost completely diplomatically isolated, Gbagbo seems
intent on staying in power. In the run-off against Ouattara, a former
prime minister, he won only 46% of the vote – a result confirmed by
the UN, which has a large peacekeeping mission in the country.

But the constitutional council, headed by a Gbagbo ally, overturned
the result, alleging fraud.

Ouattara has formed a parallel administration, with Guillaume Soro, a
former rebel who served as prime minister to Gbagbo, switching sides
to be his deputy. UN peacekeepers are helping guard them in the Golf
Hotel.Ouattara appears to be losing patience with the impasse, and had
called on his supporters in Abidjan to take over the state broadcaster
Radio Télévision Ivorienne, which continues to air pro-Gbagbo
propaganda. Despite the failure to seize the building – and the human
cost of the effort – Ouattara's allies have called for more street
protests. Amnesty International, which accused police of shooting dead
nine unarmed demonstrators on Thursdaytoday , warned that the country
"has never been so close to a resumption of civil war".

"Every effort must be made to prevent further escalation of violence
that could have a huge impact on the country and on the whole
sub-region pushing thousands of people to flee the country," said
Amnesty's West Africa researcher, Salvatore Saguès.

Conclusions

Impasse.

read more


Nigerian naira could hit year-low vs dlr next week Reuters
World Currencies

Nigerian naira could weaken to its lowest level this year next week
with no more central bank forex auctions scheduled, but other African
currencies are seen stable or stronger as the holiday season
approaches.The naira NGN=D1 is likely to weaken further next week and
could hit its lowest level this year if it goes above 155 to the
dollar, due to the seasonal closure of the official forex auctions and
a lack of dollar inflows from other sources.

The local currency was trading at around 154.62 to the dollar on
Thursday from 153.65 on Wednesday as increased dollar demand put the
naira under pressure.

The central bank, which supplies the bulk of dollars to the foreign
exchange market, held its final forex auction of the year on
Wednesday, selling $800 million at 149.17 to the dollar, just below
demand of $838 million.

"If there is no major inflow of dollars within the next few days, the
naira will hit the roof," one trader said, referring to the rate
weakening above 155.

Dollar versus Nigeria Naira Live ForexPros 154.205 Last
http://bit.ly/bIrrqB

Dollar versus Rand Live ForexPros 6.8152 Last
http://bit.ly/cugYVU

6.61 remains My Objective but I am sidelined unless it pops above 7.00.

read more


The Media in South Africa U-turn on the long walk to freedom Economist
Africa

Press freedom is under threat across southern Africa. Zimbabwe is the
worst offender, but others are not far behind. In Mo Ibrahim’s index
of good governance the southern part of the continent generally does
well. Four of the five top places on the 53-country index go to
members of the Southern African Development Community (SADC), a
15-country regional club; nine of its members feature in the top 20.
But when it comes to press freedom, not a single SADC country—other
than little Mauritius in the Indian Ocean—is deemed “free” by Freedom
House, a think-tank based in Washington, DC.

Government attempts to curb South Africa’s vigorously independent
media have already led to South Africa being demoted from “free” to
“partly free” in this year’s analysis of press freedom by Freedom
House. In next year’s index, South Africa’s score is likely to slip
further if proposed press-gagging measures make their way into law.
Among them is the coyly named protection of information bill, under
which journalists (and others) could face up to 25 years in jail for
possessing or publishing classified state information. Any minister or
official would be able to classify documents. Many fear this will be
used to block the revelation of government scandals.

Conclusions

Aly-Khan Satchu wrote:
Dec 17th 2010 4:49 GMT

The State was once like Gulliver, The Citizens were like the
Lilliputians. However, the Connected Century is upending that
Dispensation. Where, once I waited eagerly for my weekly Blue Aerogram
to arrive, Today I am always on always connected. And The Arrival of
the Mobile Phone and in its Slipstream, the Arrival of the Mobile
Internet has upended this. We have entered a New Normal. In Parts of
Africa, its a Laboratory Experiment. Take Kenya, where the Undersea
Cables have accelerated this Process and the Curve has turned
parabolic.

Old Media is still operating at the Instruction of the State. However,
The Citizen practically anywhere in the World is now connected and the
Information Stream has morphed into a Tsunami. This Debate and
Conversation is happening outside the Old Media Architecture, its
happening on New Disjunctive and ultimately Democratic Uber Platforms
like Facebook and Twitter.

The Reaction we are witnessing in Southern Africa is a Losing Strategy
and not unlike King Canute who ultimately had little success holding
back the Sea.

We have entered a New Normal and just as The British Courts eventually
worked out that holding the Person of Assange was effectively
irrelevant and making a Monkey out of the Machine, so will these
States eventually capitulate to a Wave thats only gotten started.

Aly-Khan Satchu
http://www.rich.co.ke/
Nairobi

read more


Fighting for the TFG 15-year-old Ahmed Hassan listens to the radio in his room in #Mogadishu #Somalia #Photo Booth New Yorker
Africa

Dominic Nahr on Ed Ou
Fighting for the Transitional Federal Government, 15-year-old Ahmed
Hassan listens to the radio in his room in Mogadishu, Somalia, April
24th. Ahmed said he was sent to Uganda to get training when he was 12.
He was shot by the Shebab, the most powerful insurgent group.

“This picture is definitely one I remember,” Dominic Nahr writes from
Gabon. “These images feel close and personal, something that we don’t
see very much out of Somalia. We get to know these Somali children
that own guns larger than they are, in a conflict no one seems to care
about. The images initiated action by a U.S. senator and the U.N., and
although the photographer was not there, his images stood as
testimonies and he as a witness.”

read more


Heavy State borrowing ends era of cheap loans Business Daily
Kenyan Economy


Kenya’s public debt jumped by one fifth in the past year to a record
Sh1.3 trillion, exceeding the 40 per cent limit that Treasury has set
as suitable for sustainable growth. Total public debt as a proportion
of the total economic output rose to 52 per cent, 12 percentage points
above the 40 per cent limit considered suitable for economic stability
and sustainable growth.The national debt grew by Sh241 billion (22.9
per cent) in the 15 months to September this year.

In recent months, rising appetite for debt financing has seen Treasury
set in motion a process that should enable Kenya to borrow from
foreign markets to balance its mix of debt.

It has approached international credit rating agencies Standard &
Poors and Fitch to review Kenya’s sovereign rating in preparation for
issuance of the country’s first ever sovereign bond.

Mr Kinyua told Reuters News agency three weeks ago that the government
planned to issue an international bond worth $500 million to boost
foreign currency reserves and slow down domestic borrowing.

read more


Access Kenya issues FY Profits Warning here and share data www.rich.co.ke -29.662% 1 Year
N.S.E Equities - Commercial & Services

Par Value:                  1/-
Closing Price:          14.05
Total Shares Issued:          207,227,120
Market Capitalization:        2,912M
EPS:            0.76
PE:                18.487

Internet service provider AccessKenya warned on Friday its 2010 full
year earnings would be at least 25 percent lower than in the previous
year because of higher costs and foreign exchange losses.

"The board has already taken steps to reduce borrowing costs and
mitigate exchange rates risks, and given significantly lower capex in
2010 than 2009, it is not expected that depreciation will rise much in
2011," it said in statement to the bourse.

AccessKenya posted a 55 percent drop in pretax profit for the first
half ended June to 40.1 million Kenya shillings.

Conclusions

The Share Price hit a Succession of 52 Week Lows ahead of this Announcement.

read more



Kenya's CfCStanbic issues notes worth $31 mln Reuters
N.S.E Equities - Finance & Investment

Kenya's CfC Stanbic Bank, a unit of CfC Stanbic Holdings, issued on
Friday fixed-rate notes worth 2.5 billion shillings to increase its
capital.

"The proceeds from each issue of notes will be applied by CfC Stanbic
Bank for its general corporate capital purposes including liquidity
and capital management," said the bank, a unit of South Africa's
Standard Bank.

The four-year notes will be on sale until December 24 and represent
the second tranche of a 5.0 billion shillings programme approved by
authorities in 2009, the bank said in an advertisement in the Business
Daily.

CFC StanBic Bank share price data www.rich.co.ke
http://bit.ly/dqreug

read more


Barclays Kenya up on talk of plans to cut costs Reuters
N.S.E Equities - Finance & Investment

Shares in Barclays Bank of Kenya Ltd. rose on market talk that it was
considering laying off some workers in an effort to cut costs, traders
and a banking industry source said on Friday.The banking source said
Barclays was likely to use part of the 3.5 billion shilling from the
sale of its custody business to rival Standard Chartered Kenya, which
is meant to be completed at the end of this year, to pay for the
layoffs.

"The bank is expecting to have some cash on its hands, and plans to
use this to attack its cost base by paying for early retirements. The
aim is to try and bring the cost-income ratio trending in the right
direction," the banking source said.

A Barclays official said the bank would issue a comment later on
Friday. Shares in Barclays Bank of Kenya rose 3.6 percent to 57.50
shillings compared with Thursday's close of 55.50 shillings.

The banking source said Barclays has yet to decide how many workers
could leave under the voluntary retirement scheme, but that a decision
would likely be taken by the end of next month.

Majority owned by British lender Barclays, the bank said on November
19 its nine-month pretax profit rose 6 percent to 7.01 billion
shillings.

Barclays Bank Kenya share price data www.rich.co.ke
http://bit.ly/3FrB3X

Par Value:                  2/-
Closing Price:          55.50
Total Shares Issued:          1,357,884,032
Market Capitalization:        75,363M
EPS:            4.50
PE:                12.333

read more



 
 
N.S.E Today

The Nairobi All Share turned 0.20 points higher to close at 96.68 just
within the 10% 2010 Peak to Trough correction from its 2010 High.
The NSE20 fell 42.23 points to close at 4326.08 making that an 8.035%
Correction From its 2010 Closing High of 4704.00
Market Capitalisation was 1.153398 Trillion versus 1.151009 Trillion last time.
Equity Turnover was 482.58m versus 352.381m and Buyers have supported
the Market in the Last 2 Sessions signalling the Bourse might be
taking ICC Developments in its Stride barring any unforseen Friction
or Spikes.
Access Kenya issued a FY Profits warning and closed at a 21 Month low
of 13.55. Barclays is apparently rumoured to be taking a Knife to its
Cost Base [as per Reuters] and set to announce Imminent lay Offs. The
Price bounced about 1%. EABL saw heavy action and was the most active
Counter and has turned higher after falling back from 226.00 All Time
Highs in November.



N.S.E Equities - Agricultural

Sasini Tea and Coffee retreated 2.62% to close at 13.00 and traded
118,200 shares. It trades on a Price Earnings Multiple of 3.00.
Kakuzi was unchanged at 80.00 and traded 1,700 shares.
Rea Vipingo was marked down 7.18% to close at 15.50 and traded 500 shares.



N.S.E Equities - Commercial & Services

SAFARICOM

shares volume     3,660,900
total turnover     17,211,270
closing PRICE 4.70 Unchanged
high price     4.75
low price     4.70
last price     4.70

Conclusions

Safaricom closed unchanged at 4.70 but did not rank in the Top 5 by
Volume which indicates that Supply is being extinguished at these
Levels. Demand was 11.9 versus Supply of 7.7 and I think Buyers are
trying not to tip their Hand here and that therefore, Buy Side
Interest is greater than is being shown on the Screen.

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

Par Value:                  0.05/-
Closing Price:          4.70
Total Shares Issued:          40,000,000,000
Market Capitalization:        188,000M
EPS:            0.38
PE:                12.368

Access Kenya had been hitting a Succession of 52 week lows ahead of
Todays Full Year Profits Warning announcement. Access Kenya warned on
Friday its 2010 full year earnings would be at least 25 percent lower
than in the previous year because of higher costs and foreign exchange
losses. Access Kenya traded a 13.00-14.00 range and closed 3.55% lower
at 13.55 and traded an Intra Day [and 21 Month] low of 13.00. Access
Kenya traded 75,100 shares worth 1.020m.

Kenya Airways traded 5th at the Nairobi SE. Kenya Airways firmed 0.56%
to close at 45.25 and traded a 45.00-45.75 range and 1.046m shares
worth 47.562m. Kenya Airways has posted a 32.175% 1 Year Return and is
31.439% off its 52 week High of 66.00 from 17th March. Kenya Airways
reported 1st Half EPS of 3.11 and if that can be maintained 2nd Half
Kenya Airways trades on an Implied PE of 7.27.

Kenya Airways share price data 1st Half Results here www.rich.co.ke
http://bit.ly/1AaBD1

Par Value:                  5/-
Closing Price:          45.00
Total Shares Issued:          461,615,488
Market Capitalization:        20,773M
EPS:            4.40
PE:                10.227

ScanGroup was unchanged at 60.00 and traded 16,000 shares.

Nation eased a shilling to close at 154.00 and traded 8,800 shares.
Standard traded 200 shares at 43.50 unchanged.

TPS Serena held 68.00 unchanged and traded 30,700 shares.

CMC Holdings held unchanged at 12.20 and traded 104,600 shares.
CarGen did not trade.



N.S.E Equities - Finance & Investment

Reuters carried a Report that Barclays Bank 'was considering laying
off some workers in an effort to cut costs' and that part of 3.5b
shillings Proceeds from the Sale of its Custody Business was likely to
be used to pay for the layoffs.

"The bank is expecting to have some cash on its hands, and plans to
use this to attack its cost base by paying for early retirements. The
aim is to try and bring the cost-income ratio trending in the right
direction," the banking source said.

A Barclays official said the bank would issue a comment later on
Friday. Barclays Bank bounced 1.801% to close at 56.50 and was trading
at 58.50 +5.41% session Highs into the Close. Barclays Bank traded
200,400 shares worth 11.346m and There were Buyers showing for an
Additional 329,000 at the Closing Bell. Barclays Bank has posted a
32.673% 1 Year Return and has retreated from 70.00 and 2010 Closing
Highs. Barclays bust 60.00 which was actually Key Range Support and
Bulls will want to see that 60.00+ level regained quickly.

Kenya Commercial Bank KCB traded 2nd at the Bourse. KCB was unchanged
at 22.00 and traded a 21.75-22.25 range and 2.816m shares worth
61.959m. KCB trades on a Trailing PE of 11.957 and a Forward PE of
below 8.00. Its Pricing is an Anomaly and a Re Rating overdue.

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

Par Value:                  1/-
Closing Price:          22.00
Total Shares Issued:          2,950,169,088
Market Capitalization:        64,904M
EPS:            1.84
PE:                11.957

Standard Chartered traded 3rd. Standard Chartered closed unchanged at
245.00 and traded a 245.00-250.00 range and 231,100 shares worth
56.719m. StanChart has posted a 68.958% 1 Year Return and is 21.725%
below its 313.00 All Time High from 6th August 2010. StanChart trades
on a Trailing PE of 15.409.

Standard Chartered Kenya share price data www.rich.co.ke
http://bit.ly/1MoR3I

Par Value:                  5/-
Closing Price:          245.00
Total Shares Issued:          287,077,120
Market Capitalization:        70,334M
EPS:            15.90
PE:                15.409

Equity Bank traded 4th. Equity Bank firmed 1% to close at 25.25 and
was trading at 25.50 +2.00% at the Finish. Equity Bank traded a
25.00-25.75 range and 2.022m shares worth 51.485m. Equity Bank has
posted an 86.298% 1 Year Return, is 9.009% below its 2010 High of
27.75 and trades on a Trailing PE of 22.149.
COOP Bank eased 0.526% to close at 18.90 and traded an 18.20-19.10
range and 925,200 shares worth 17.498m. COOP Bank has posted a
112.117% 1 Year Return and trades on a 22.239 Trailing PE.

HFCK firmed 1.01% to close at 25.00 and traded 32,900 shares.
DTB firmed a shilling to close at 131.00 and traded 13,200 shares.
NIC eased 0.523% to close at 47.50 and traded 9,800 shares.
NBK was unchanged at 38.00 and traded 9,300 shares.
CFC StanBic did not trade.

Centum bounced 2.29% to close at 22.25 and traded 39,700 shares.

Kenya Re edged 0.4566% lower to close at 10.90. Kenya Re traded 41,400
shares and The Full Year Return has flipped into Negative by 0.859%.
Kenya Re trades on a PE of 4.955.
Jubilee traded 2,900 shares and closed at 181.00.
PanAfric did not trade.

Olympia Capital closed at 6.00.



N.S.E Equities - Industrial & Allied

EABL was the most Actively traded share at the Nairobi SE. EABL firmed
0.9504% to close at 211.00 and was locked at 212.00 +1.44% for Most of
the Session. EABL traded a chunky 794,000 shares worth 168.318m. EABL
has posted a 56.747% 1 Year Return and is within 6.63% of its all time
High of 226.00 from 19th November this Year. EABL based out a whisker
under 10% from its Peak and hence remains in its Singular Bull
Channel. EABL trades on a Trailing PE of just below 23.00 and is well
sought by Foreign Accounts.

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

Par Value:                  2/-
Closing Price:          209.00
Total Shares Issued:          790,774,336
Market Capitalization:        165,272M
EPS:            9.09
PE:                22.992

Kenya Power was unchanged at 22.25 and traded a 22.00-22.75 range.
These Share are self evidently ex Rights. KPLC traded 867,400 shares.
KenGen eased 0.5899% to close at 16.85 and traded 188,000 shares.
Cables closed lower at 15.70 and traded 11,100 shares.

Mumias Sugar fell 0.5128% to close at 9.70 and traded 1.084m shares.
Mumias Sugar trades on a PE of 9.286, Sugar Prices last I checked were
above 31 cents and at Multi Year Highs. Mumias has diverged
significantly from that Raw Sugar Price Trend. Mumias Sugar has posted
a 51.586% 1 Year Return.

Mumias Sugar FY Results share price data here www.rich.co.ke
http://bit.ly/9wYIOg

Par Value:                  2/-
Closing Price:          9.75
Total Shares Issued:          1,530,000,000
Market Capitalization:        14,918M
EPS:            1.05
PE:                9.286

Bamburi Cement closed a shilling lighter at 194.00 and traded 2,300 shares.
ARM traded 1,000 shares and was unchanged at 172.00.
Portland traded 2,300 shares at 90.00 and unchanged.

Total rallied 2.768% to close at 28.75 and traded 18,400 shares.
KenolKobil retreated 1.53% to close at 9.60 and traded 63,300 shares.

BAT was marked down 4 shillings to close at 275.00 and traded 300 shares.

Unga firmed 3.79%  to close at 10.95 and traded 2,200 shares.
Sameer firmed 0.68% to close at 7.35 and traded 153,800 shares.
Eveready rebounded 1.75% to close at 2.90 and traded 22,900 shares.

Carbacid closed at 140.00 and traded 1,200 shares.
BOC Gases did not trade.
Crown Berger did not trade.



by Aly Khan Satchu (www.rich.co.ke)
 
 
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December 2010
 
 
 
 
 
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