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Satchu's Rich Wrap-Up
 
 
Wednesday 22nd 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

Economic Impact #Kenya Officials linked to Post-election Violence #CNBC
http://bit.ly/dFlYWe

2010 Interviews on CNBC
http://bit.ly/32V6XO

Macro Thoughts

Watching Coffee and the Breakfast Commodity Complex.

Home Thoughts

It is in fact my 15th Wedding Anniversary today. I thank Nishet My
Better Half for those Years and for my Children and being just such
a Top Sport and Partner. We met more than 16 Years ago in London.Thank
You. The Girls came to me quietly and seperately yesterday and asked

'Dad What's tomorrow?'

'Dad What have you organised?'

I teased them a Little.

'Is it something important?'

'Goodness We have posted 15 Years. Thats amazing.'

'Girls I will tell Mum to get dressed up and take her to Hashmi.'

Of Course, That set off a Full Blown Panic before they realised I was joking.
read more


Applause for North Korea's restraint People's Daily
Law & Politics

North Korea's reaction to the South's military drill Monday let the
world see its calmness and restraint. The North's international image
is being quietly altered, whereas the South is labeled by some
observers as threatening the status quo.

There are also voices deriding North Korea's timidity in the face of
the South's hard-line stance. North Korea should not heed them. No
matter what motive it had, North Korea didn't retaliate Monday, which
preserved the fragile peace on the peninsula.

Consequently, North Korea deserves the applause of the region for its
diplomatic response. Those who laugh at North Korea's "cowardice" are
actually onlookers seeking to extract their own interests from the
chaos on the peninsula.

Before Monday's military drill, South Korea had also been restrained.
It had tried to cast North Korea in the role of agent provocateur.
However, this has not been the case at least in the past couple of
days. Has South Korea itself slipped into that role? This question
should be mulled over thoughtfully by its authorities.

Like a pile of unfinished homework, the peninsula issue has piled up
for six decades. South Korea, Japan and the US are continuing to add
to the teetering tower, hoping that one day North Korea's collapse
will eliminate all this work in one swoop.This mentality was laid at
the feet of Wall Street businessmen as the reason for the financial
crisis, as they piled up bad debts.

There is no shortcut to perpetual peace on the Korean Peninsula. In
order to solve the issue, many things need to be done to enhance North
Korea's sense of security, including promoting the compatibility
between its regime and the surrounding environment and narrowing its
economic gap with neighbors.

All of Northeast Asia should act in political sincerity and economic
generosity to help create workable conditions for North Korea to open
up.

So far, the Six-Party Talks remain the best platform for dialogue. The
two Koreas, as each other's stakeholder, should return to the table in
an act of courage. They should consider their opposing standpoints,
and look for a resolution side by side. In that way, both Koreas can
win the world's applause.

Conclusions

Subtle Double Bluff on the North's Part.

read more


New South Korea exercises to test border tension BBC
Law & Politics

South Korea has said it will hold new large-scale military drills
involving ground and air live fire on Thursday.Artillery, jets and
about 800 soldiers will take part, the government said, alongside
separate naval exercises that began on Wednesday.An army spokesman
said Thursday's drill would be held at Pocheon, 20km (12 miles) south
of the border - about 50km from central Seoul.Exercises have been held
at Pocheon before, but this would be on an unprecedented scale, the
spokesman said.

"The scale of mechanised assets taking place is enormous. When we
would normally have 6 K-9 mechanised artillery, we'll have 36.

"We'll have the F-15 jets firing. We'll have choppers. You can say
most of the mechanised assets taking part will be firing live
ammunition," the spokesman said.

"We will retaliate thoroughly if the North commits another provocative
act like the shelling of Yeonpyeong," First Armoured Battalion
commander Choo Eun-sik told Yonhap news agency.

"Through this exercise [at Pocheon], we will demonstrate our solid
military preparedness," he said.

Conclusions

The South is now trying to make a Point and I am not sure it is
entirely an Intelligent One.

Its a little like The Question that I had to answer for my Entrance
Exam to Westminster.

Might is Right. Discuss.

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

read more


Currency Markets at a Glance WSJ
World Currencies

Euro 1.3127
Pound 1.5470 public-sector borrowing unexpectedly jumped to a record
high in November
Yen 83.76
Dollar Index 80.53
India Rupee 45.165
Rand 6.8055
Aussie 0.9962
South Korea Won 1154.60

The euro fell Tuesday to a record low against the Swiss franc and its
lowest level in three weeks against the dollar following warnings
about two troubled euro-zone economies.Moody's Investors Service said
it was placing Portugal's credit rating on review for a possible
downgrade, voicing uncertainties about the country's growth in the
wake of an austerity budget designed to assuage concerns about the
country's debt.The euro was further undermined when Fitch Ratings put
Greece's ratings on review for a potential cut.

Conclusions

Aussie and The Rand remain My Favourite Currencies for Trading and
Both are in No Mans Land from a Trading Perspective. Rand I believe
targets 6.61 but I prefer to look for a 7.00 Handle in order to get
Long again. I like the Aussie through Parity but feel I can get it
lower down.

Euro versus Swiss Franc INO Euro near Record All Time Low
http://bit.ly/i5ki4C +

read more



“Taiwan has been the wild, wild East” Bloomberg
Asia


“Any fundamentally driven investment strategy is going to try to
create an information edge,” said Douglas, the GFIA consultant. “The
question is whether you’re doing that legally, morally and ethically,
or not.”

read more


Winter solstice: See the light on the darkest day The Guardian
Food, Climate & Agriculture

It is time to pray for the return of the sun. In this deep midwinter,
we can start to imagine what the winter solstice meant to the ancient
inhabitants of Britain who built Stonehenge and Maeshowe, and who
aligned these mysterious buildings to receive the remote rays of the
sun on the darkest day of the year.

This is the holiest time of the year – if you happen to share the
beliefs of these ancient pagans, which, in fact, are obscure because
they left no writings or even much in the way of figurative art. But
the winter solstice must have been deeply important to them because on
this day, and this day only, sunlight creates startling effects at
Britain's late neolithic and early bronze age monuments. Most
astonishingly of all, it enters the long narrow entrance passage of
the burial mound of Maeshowe on Orkney's Mainland island and glows on
the back wall of the inner chamber. The building becomes a giant
camera, catching sunlight in a moment of mystery and wonder.

The architecture of Maeshowe is one of the marvels of these islands.
Inside the earthen mound is a profoundly impressive chamber made of
massive blocks of stone arranged in powerful lintels neatly layered,
perforated by accurately rectangular openings. There is a precision to
the stone construction and its plan, with symmetrical side chambers.
When later Viking warriors broke into the chamber they wrote runic
inscriptions on its stones, adding to the strange atmosphere. But it
is at the winter solstice that Maeshowe consummates its mystery with
the astronomical spectacle of the sun piercing its dark sanctum of
death.

Light in darkness, life in death, the moment when the sun begins its
return journey towards midsummer. Truly the pagan midwinter is a
moving celebration. But, as we rush around buying presents, do we
remember the true meaning of the winter sun festival?

read more


Commodity Markets At A Glance WSJ
Commodities


Light, sweet crude finished up 45 cents, or 0.5%, at $89.82 a barrel
on the New York Mercantile Exchange, the highest settlement since
October 2008.

read more


Trader Holds $3 Billion of Copper in London WSJ
Commodities

The latest example is in the copper market, where a single trader has
reported it owns 80% to 90% of the copper sitting in London Metal
Exchange warehouses, equal to about half of the world's
exchange-registered copper stockpile and worth about $3 billion. The
report coincided with copper prices soaring to new records on Tuesday.
Commodities prices rallied along with stocks. The Dow Jones Industrial
Average gained 55.03 points, or 0.48%, to 11533.16, its highest level
since August 2008. Crude oil jumped to its highest level in more than
two years and topped $90 a barrel in late electronic trading in New
York. Corn and soybeans rose amid worries about hot weather in
Argentina.

Copper soared to a new record of $4.2705 per pound on Tuesday in New
York, and is up 28.3% this year. The LME's three-month copper contract
closed at $9,353.50 a metric ton, up 1.6% on the day, a new record.

Single traders also own large holdings of other metals. One trader
holds as much as 90% of the exchange's aluminum stocks. In the nickel,
zinc and aluminum alloy markets, single traders own between 50% to 80%
of those metals and one firm has 40% to 50% of the LME's tin
stockpiles.

Conclusions

Copper demand is likely to outstrip supply this year by an estimated
455,000 metric tons, says Barclays Capital. Copper inventories at the
LME have been declining since February.Consumption is growing rapidly
in China, Brazil and the U.S. And the creation of ETFs to hold
physical metal is helping drive demand. On Tuesday, ETF Securities, a
London-based provider, said that its newly-announced copper-backed ETF
has added about 850.5 tons of copper, up 43%, to reach 1,445.5 tons.

read more




Soft Commodities at a Glance INO
Commodities


COCOA CC.H11.E    Mar 2011 (E)    2975            +31            +1.04%   
COFFEE KC.H11.E    Mar 2011 (E)    233.85    +10.25    +4.37%   
COTTON CT.H11.E    Mar 2011 (E)    159.12    -5.00            -3.19%
ORANGE JUICE-A    Jan 2011 (E)    161.95    +4.00    +2.46%   
SUGAR SB.H11.E    Mar 2011 (E)    33.02    -0.39            -1.20%

Coffee March 2011 INO 233.85 +10.25 (+4.37%)
http://bit.ly/ejwT2X

Last Price    233.85
Open Int.    89240
Contract High    235.3
Contract Low    131.4
First Delivery    2011-03-31
Contract High Date    2010-12-21
Contract Low Date    2009-07-08

Conclusions

We are now into Multi Year Highs and All Time Highs for this Move.

read more


An Andy Warhol-inspired special edition of Dom Perignon champagne. Source: Nadine Johnson PR via Bloomberg
Food, Climate & Agriculture


A Sommeliers Series single malt whisky glass from Riedel Glas Austria.
It is handmade of 24 percent lead crystal and is mouth-blown. Source:
Nike Communications via Bloomberg

read more


St. Barth's Vanity Fair “It's like the whole island is Studio 54 at its peak.”
Tourism, Travel & Transport

PORT OF GENTRY
The harbor of Gustavia, St. Barth’s capital. The best New Year’s Eve
parties are on the yachts—such as billionaire Paul Allen’s 416-foot
Octopus—that moor here. From The Travel Library/Rex USA/BeImages.

read more


UN chief warns of 'real risk' of Ivory Coast civil war BBC
Law & Politics


The UN's secretary-general has warned there is a "real risk" of a
return to civil war in Ivory Coast after the disputed presidential
election.Ban Ki-moon said the incumbent, Laurent Gbagbo, was illegally
trying to expel the UN's peacekeeping force after it recognised
Alassane Ouattara as victor.Earlier, an ally of Mr Gbagbo warned the
peacekeepers that they could be treated as rebels if they did not go.

And in his first TV address since the poll Mr Gbagbo stressed his legitimacy.

Mr Gbagbo said Mr Ouattara could leave the Golf Hotel in Abidjan,
where he has set up his headquarters, protected by the UN.

The army meanwhile announced the lifting of a nightly curfew, so
families could "enjoy the end of year holidays and the New Year".
'Mercenaries'

"I won the election with 51.45% of vote," he said. "I am the president
of the Republic of Ivory Coast. I thank Ivorians for renewing their
trust in me."

Conclusions

The Monetary Squeeze has yet to be fully effected.

read more


Ivory Coast Eurobond Yields Rise to Record on Tension Bloomberg
World Of Finance

Ivory Coast’s Eurobonds tumbled, lifting yields to a record, as the
winning party in last month’s election sought to restart protests
against Laurent Gbagbo, who defied the electoral commission to claim
victory.The dollar-denominated bonds of the world’s biggest cocoa
producer fell for a fourth day as investors bid 44.25 cents on the
dollar for the notes due December 2032, down from a close of 46.06
yesterday, as of 5:04 p.m. in Abidjan, the commercial capital,
according to data compiled by Bloomberg. The decline to the lowest
since the bonds were issued drove the yield to a record 14.479 percent
from 13.943 percent.

“People are just getting a little bit anxious that we’re no nearer to
any kind of resolution,” Stuart Culverhouse, chief economist at Exotix
Ltd., a brokerage, said in a telephone interview from London today.

Prime Minister Guillaume Soro, appointed by Ouattara, called on
Ivorians to “mobilize and to protest, by every means, until the
departure of Laurent Gbagbo,” seeking “disobedience to the fictitious
government,” according to an e-mailed statement today.

Security forces loyal to Gbagbo killed over 50 and injured 200
Ouattara supporters, according to the UN.

“We are seeing a renewed bitterness in the campaign with talk of death
squads, people being walked out of their homes, Gbagbo digging in his
heels, and Gbagbo demanding the French and UN troops to leave,”
Culverhouse said. “The combination of this is not very encouraging.”

Without an improved outlook, the 2.5 percent bonds may sink to as low
as 42 cents on the dollar, raising the yield to about 15 percent, with
the prospect of a rebound if there is an indication that Gbagbo will
step down, Culverhouse said.

“If there is some positive noise and some action, then the bonds will
recover to the low 50s,” he said.

Ivory Coast doesn’t have a sovereign debt rating. The bonds, issued on
April 16, replaced $2.4 billion of debt that the country defaulted on
in September 2000, according to the prospectus.

read more


South Africa All share Bloomberg Visual +15.893% 2010
Africa


Value32,063.81   
Change331.290    
% Change1.044

Conclusions

South African stocks booked their highest close in 30 months on Tuesday.

read more



Ghana All Share Bloomberg Visual +28.966% 2010
Africa

Value7,186.51   
Change-32.140    
% Change-0.445

Conclusions

I am most constructive on this Index.

read more


Coin Suggests Past Chinese-African Trade Numismaster.com
Africa


Yongle Tongbao coins of 15th century China are back in the news as
Chinese and Kenyan archaeologists continue to study the coins as
artifacts as they connect the dots regarding past trade between China
and the East African region.According to an article posted Oct. 20 on
www.AfrikNews.com, “The story of a small rusted coin with a square
hole in the middle will certainly rewrite the dynamics of China-Africa
relations and give impetus to China-Africa trade.”Professor Qin Dashu
of the Department of Archaeology at Beijing University is leading the
Chinese team that is working closely with Kenyan archaeologists.
According to Qin, “These coins were carried only by envoys of the
emperor, Chengzu.” (Chengzu was from the Ming Dynasty.)

Qin suggested the coin his team has been studying may have been a gift
from the emperor. It was issued between 1403 and 1424, and was
discovered recently in the northern town of Malindi, Kenya.The time
frame of the minting of the coin and the location at which it was
discovered are both important. According to Chinese records, the
Chinese Muslim eunuch Zheng He was the admiral of Emperor Zhu Di’s
(Yong Le) fleet during this time. It is believed the admiral
commandeered a fleet of more than 200 ships across the Indian Ocean
from China to Eastern Africa in two expeditions, one between 1417 and
1419 and a second between 1431 and 1433. During the trips the fleet is
said to have traveled the coastline, trading with people in what are
today Kenya, Somalia and Tanzania.

Several years ago Kenyan fishermen from Lamu dredged up a 15th century
Chinese vase in their nets, a find that appears to correspond to
reports of shipwrecks within Zheng’s fleet during a storm. The yet to
be substantiated local story is that survivors from the wreck came to
live with the local natives, marrying some of the women.According to
the AfrikNews.com report, “Recent DNA tests have confirmed the claims
of certain [Lamu] fishermen to have Chinese ancestors.”Perhaps coins
will never replace DNA as archaeological evidence, however coins are
to archaeology what index fossils are to paleontology. Coins may
“talk” since they have inscriptions, can be dated, may reflect
technological abilities of the area from which they were issued,
identify local rulers, mark trade routes, and much more. In this
instance the coins being found recently in Kenya indicate there was
trade between China and that African region before the better known
trade between Portugal and East Africa.

Malindi may be the epicenter of the likely trade between the region
and China. According to Chinese records, an emissary from Malindi
visited the Chinese court in 1414. Chinese records also indicate
Emperor Zheng visited the Sultan of Malindi, who at the time was the
most powerful ruler in East Africa.

Coins and other artifacts also point to likely 15th century trade
between China and both Eastern and Southern Africa. Chinese coins and
ceramics have been found at archaeological sites in what had been
Great Zimbabwe.

All of this trade appears to have ended in 1433, after which time
China abandoned its maritime ambitions. Trade between China and this
region of Africa would not be continued until the late 19th century.

Conclusions

South Africa-China trade ties: President Zuma bids to shore up
'Gateway to China' status CS Monitor
http://bit.ly/agk8KF

This recent engagement was preceeded by one many centuries earlier and
that tale of the Chinese Muslim Admiral Ze is something the Chinese
are trying to ventilate in their quest for a China-Africa soft-power
story that might resonate today and on which they might hang their
hat.

Admiral Ze came to Africa in the 1400s and left behind Chinese DNA
from that time. This was recently discovered via some DNA tests done
on some villagers in the Lamu Archipelago, near Somalia. So watch that
space.

The Star Lamu China Tourism August 30
http://bit.ly/9wRsqt

For example, there was a Chinese Muslim admiral who came to Lamu in
the 1400s and some of his crew left their DNA in some of the villages
by the sea shore. Recently, there were reports about an archeological
project to retrieve a Chinese shipwreck that has been lying on the
seabed next to the Lamu shores for centuries.If the tourism minister
wants to unlock the Chinese market of 1.3 billion people, he has the
key. We have been talking of diversifying our tourism market for a
long time. We need to start moving now.

Lamu Mosque Twitpic
http://www.twitpic.com/2rerhl

read more


Kenya says Q3 GDP growth at 6.1 pct year/year Reuters
Kenyan Economy

Kenya's economy grew 6.1 percent in the third quarter this year, well
up from 0.5 percent in the same period last year, buoyed mainly by
agriculture and nearing levels reached before deadly post-election
violence in 2008.The Kenya National Bureau of Statistics said in a
statement on Tuesday that the economy was recovering due to good
rains, increased liquidity and prudent macroeconomic management.Good
rainfall since late last year lifted output from the farm sector,
which accounts for nearly a quarter of gross domestic product in east
Africa's biggest economy, and filled hydro power dams, leading to
lower tariffs and cheaper manufacturing costs.

"These factors have encouraged a steady growth since the first quarter
of the year, leading to a turnaround in sectors of agriculture,
electricity and water and a rebound in most of the other sectors," the
statistics office said.

The manufacturing, construction and service industries benefited from
reliable supply of electricity and resilient domestic demand, which
had compounded the growth, the statistics office said.

The average growth rate for the first three quarters of 2010 was 5.4
percent compared with 2.1 percent and 2.3 percent for similar periods
in 2008 and 2009 respectively, it said.

On a seasonally adjusted basis, third-quarter GDP was 1.3 percent
higher compared with the second quarter level.

Relative to Kenya's GDP, the current account deficit worsened to 11.7
percent in the third quarter of this year compared with 10.0 percent
in the same period last year.

The government expects growth for the whole of 2010 to come in at 5.1
percent from 2.6 percent in 2009.

Conclusions

The Star Ocampo6 have to sacrifice for the Country
http://bit.ly/fCeBum

The region is going great.Nairobi, I have found out, has become a Pan
African City in a way it never was before. The place is
beginning to hum. Yoweri Museveni next door is sitting on a sea of
oil. We have connected ourselves to the 21st century.
Investors traded Sh1.2 billion worth of stocks at the Nairobi Stock
Exchange after the Ocampo Announcement in a remarkable display of
support, the shilling was well behaved. We sit on the cusp of
unprecedented prosperity. The Ocampo 6 have to take one for the
country

read more


Kenya Stimulus The Real Deal for Growth The Star 25 October The Star
Kenyan Economy


HAVE you noticed a build up in momentum? The main thrust of this piece
is actually about a very big grass roots stimulus that is hitting the
economy right now.Today in Kenya there are 19.9m mobile subscribers at
the end of the 1st Quarter 2010 and the average minutes of usage is
89.32 minutes with an average of 14.10 SMS per subscriber per month.
Let’s do some mathematics. Lets multiply 19.9m x 89.32 minutes and
that equals = 1,777,468,000 Now multiply that number by shall we say 3
shillings but actually it
might well be more. 1,777,468,000 x 3 = 5,332,404,000.00 billion
shillings The dollar value is $66,241,043.00 per month. The point I am
making is that this mobile phone price war is actually set to have a
dramatic stimulative effect. More than any other stimulus program you
might care to mention, this price war has effected serious democratic
trickledown. Therefore, I believe if we can run into the end of the
year with this degree and dosage of grass roots stimulus, then we look
set to outperform the highest of consensus GDP projections for the
year. The president is at 5 per cent for this year and 6 per cent for
next year. This year I think we will top 5
per cent.

Let the Good Time Roll Please The Star October 4
http://bit.ly/9vrHxU

IN the last three months, GDP expanded at an annual 5.4% compared with
a revised 4.8% as per the Kenya National Bureau of Statistics.Kenya
grew at 2.6% in 2009 and 1.7% in 2008. We grew at 7.1% in the 4th
quarter of 2007. There is a new fashion in Economics to try and
measure gross happiness and there is apparently an index for that.
What I know is this, it’s a real bore and frankly a drag to be
operating in a slow motion GDP environment. Furthermore our happiness
is nearly perfectly correlated to the GDP rate. I guarantee that the
Kenyan moving average for gross happiness moves in tandem with GDP. It
is like finding yourself in first gear unable to change. The choice is
something between driving a Maserati versus being in the slow lane.
It’s the Maserati every time. 7.1% was Maserati time. But it is not
about 5  minutes driving time. It’s about much longer than that. We
all had a taste in 2007 and maybe we just did not believe it. I think
it is difficult to measure that home grown skepticism but it is
material. I think we might well
be touching 7% in the 3rd quarter, in part, because of a statistical
quirk, that being the comparison versus the 3rd quarter of 2009. The
drought was at its peak and therefore this 3rd quarter is surely set
to look very handsome in the comparison. The correlation between
GDP and the economy is not linear

But I can feel the rumble of the engine in the seat of my pants.

Let us not miss the 2nd Economic Boom The Star June 21
http://bit.ly/cfMFgC

MANY years ago, when I was a student in the Cathedral town of Durham,
in the north of England, I came to know a historian called Sir Stephen
Runciman. Wikipedia describes Runciman as follows: “Runciman was an
oldfashioned English eccentric, known, among other things, as an
aesthete, raconteur, and enthusiast of the occult.” According to
Andrew Robinson, a history teacher at Eton,
“He played piano duets with the last Emperor of China, told tarot
cards for King Fuad of Egypt, narrowly missed being blown up by the
Germans in the Pera Palace hotel in Istanbul and twice hit the jackpot
on slot machines in Las Vegas”.

All Weekly Pieces for The Star 2010 here
http://bit.ly/9vrHxU

Kenya Economic Update The #Tipping Point
http://bit.ly/exqFwJ

Dollar versus Kenya Shilling Live ForexPros 80.65
http://bit.ly/ayW1Vw

read more




 
 
N.S.E Today

The 6.1% GDP Year on Year Expansion Rate reported for the 3rd Quarter
is signalling that the Economy is accelerating again and This will
surely prove a Rising Tide for the Bourse. The Counterweight is the
perceived Political Risk but on balance I think for Now the Market has
the Long and Short of that.
The NSE20 firmed 4.45 points to close at 4334.16.
The NASI closed 0.19 points higher at 96.25.
Market Cap was 1.148235 Trillion versus 1.145958 Trillion.
Equity Turnover was 349.259m versus 110.624m.



N.S.E Equities - Agricultural

Kakuzi closed at 81.00 and traded 1,100 shares.
Sasini Tea was unchanged at 12.95 and traded 81,800 shares. Sasini
trades on a PE of 3.00.
Rea Vipingo traded 15,100 shares and closed at 15.60.



N.S.E Equities - Commercial & Services

SAFARICOM

shares volume     3,227,700
total turnover     15,014,785
avg price     4.65 CLOSING PRICE 4.65 +1.08%
high price     4.70
low price     4.60
last price     4.60

Conclusions

Safaricom firmed 1.08% to close at 4.65 and traded 3.227m shares.
Safaricom had Buy Side Demand for 9.016m shares versus Sell Side
Supply of 4.215m which is greater than 2-1 and a Positive Signal that
Buyers see this Price Point as 'Oversold'. Safaricom trades on a
Trailing PE of 12.105 and I think has the Voice RePrice Fully pticed
into the share Price but has not priced in the Data Hyper Growth
Curve, to date.

Safaricom share price data www.rich.co.ke
http://bit.ly/d9amsi

Par Value:                  0.05/-
Closing Price:          4.60
Total Shares Issued:          40,000,000,000
Market Capitalization:        184,000M
EPS:            0.38
PE:                12.105

Watch Bob Collymore CEO Safaricom #Mindspeak Presentation here
http://bit.ly/1mPS6v

AccessKenya eased 0.38% to close at 12.95 and traded a 12.75-13.10
range and 328,500 shares. AccessKenya has converted a Dollar Loan into
shillings and are booking a Loss on That and warned last week.

CMC Holdings bounced 3.23% higher to close at 12.75 and traded 627,700 shares.
CarGen did not trade.

Kenya Airways firmed 0.549% to close at 45.75 and traded 126,200 shares.

ScanGroup eased 1.62% to close at 60.50 and traded 16,400 shares.

TPS Serena was unchanged at 68.00 and traded 6,000 shares.

Standard rallied 7.558% to close at 46.25 and traded 6,600 shares.
Nation improved a shilling to close at 159.00 and traded light Volume
of 2,400 shares.



N.S.E Equities - Finance & Investment

Kenya Commercial Bank traded 2nd at the Bourse. KCB was unchanged at
21.75 and traded a 21.50-22.00 range and 848,400 shares worth 18.466m.
KCB's CEO Martin Oduor-Otieno set out his Stall at #Mindspeak See The
Video here http://bit.ly/1mPS6v or the Actual Presentation here
http://bit.ly/i92bsh Martin O-O makes a compelling Case. KCB undertook
a Rights Issue earlier in the Year and has gotten its Balance Sheet
ahead of the Capital Curve and in line with its Regional Ambitions.
KCB trades on a Trailing PE of 11.821 and has an Implied Forward PE of
about 8.00. I expect a Sharp Upwards Re Rating probably coincident
with the Release of the FY earnings. That looks a Set Up Trade to me.

Kenya Commercial Bank share price data www.rich.co.ke
http://bit.ly/bshUrU

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 traded 3rd. Equity Bank was unchanged at 25.00 but was
trading session highs of 25.50 +2.00% into the Close. Equity Bank
traded 709,800 shares worth 17.892m. Equity Bank is up 85.119% on a 1
Year Basis and trades on a 22.00+ Trailing PE.
COOP Bank closed 5 cents better at 18.95 and was trading at session
highs of 19.20 +1.59% into the Close. COOP Bank traded 873,000 shares
worth 16.543m. COOP Bank set a Succession of lifetime closing highs
which culminated at 21.50 on 26th October. COOP Bank pulled back from
that Level but might well have re based out again for a Push back.
COOP Bank has posted a 113.859% 1 Year Return.
Barclays Bank was unchanged at 58.50 and traded a 58.00-60.00 range
and 90,300 shares worth 5.295m. Barclays has a 3-1 Demand versus
Supply Imbalance.
StanChart firmed 0.4% to close at 250.00 and traded 3,400 shares.

Centum was unchanged at 21.75 with 135,400 shares traded.

NBK continued this weeks run Up closing 0.6329% firmer at 39.75 and
traded 154,400 shares.
CFC StanBic firmed 1.41% to close at 71.50 and traded 18,700 shares.
DTB traded a 100 shares at 130.00.
HFCK rose 1.01% to close at 25.00 and traded 18,600 shares.
NIC was unchanged at 46.00 with just 15,600 shares traded.

Panafric was marked down by its Maximum limit to close at 65.00 -9.72%
on 2,900 shares traded.
Kenya Re edged 5 cents better to close at 10.95 and traded 69,500 shares.
Jubilee traded 5,200 shares at 183.00 and unchanged.


Olympia Capital closed lower at 5.75 and traded 7,700 shares.



N.S.E Equities - Industrial & Allied

EABL was the most active share at the Nairobi Bourse. EABL firmed
0.48% to close at 209.00 and traded a 207.00-210.00 range and 1.002m
shares worth 210.514m which was 60.274% of the Total Volume at the
Exchange. EABL has rallied 54.183% since the start of the Year and has
come off 7.522% from 226.00 Its all time closing high dated November
this Year. EABL trades on a Trailing PE of 22.882 and is well
supported by Foreign Investors who continue to reach for African
Beverage Plays.

EABL share price data www.rich.co.ke +54.183% 1 Year 226.00 All Time High
http://bit.ly/57wrgL

Par Value:                  2/-
Closing Price:          208.00
Total Shares Issued:          790,774,336
Market Capitalization:        164,481M
EPS:            9.09
PE:                22.882

Kenya Power traded 5th. KPLC's Rights Issue closed today and the
Subscription Rate will be an important Taking of the Temperature for
the Kenya Markets. Equity Bank and Centum have underwritten have the
Rights Issue. KPLC Ordinary shares closed unchanged at 21.75 and
traded a 21.25-22.25 range and 754,400 shares worth 16.407m.
KenGen eased 1.16% to close at 17.10 and traded 97,800 shares.
Cables closed higher at 15.85 on 7,200 shares traded.

Mumias Sugar fell 1.069% to close at 9.25 and traded 700,100 shares.
Last I checked Raw Sugar had crossed 33cents a Multi Year High. Mumias
Sugar trades on a Trailing PE of 8.80.

KenolKobil rose 0.52% to close at 9.60 and traded 96,100 shares.
Total traded 7,300 shares and closed at 28.25.

Portland slumped a further 5.88% to close at 80.00 on 1,000 shares.
This is a 52 week closing Low.
Bamburi Cement ticked 1.069% lower to close at 185.00 and traded 3,600 shares.
ARM rose 0.574% to close at 175.00 and traded 13,900 shares.

BAT traded 300 shares and closed 0.727% lower at 273.00.

Sameer bounced 2.816% to close at 7.30 and traded 7,400 shares.
Eveready improved 1.7241% to close at 2.95 and traded 13,100 shares.
Crown Berger bounced 4.6875% to close at 33.50 on 100 shares.
Unga traded 5,200 shares and closed lower at 10.25.
BOC Gases and Carbacid did not trade.



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