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Thursday 02nd of November 2017
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Morning Africa |
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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 on the Front Page of the site
http://www.rich.co.ke
Macro Thoughts |
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The Hollow Men T.S. Eliot Africa |
Here we go round the prickly pear
Prickly pear prickly pear
Here we go round the prickly pear
At five o'clock in the morning.
Between the idea
And the reality
Between the motion
And the act
Falls the Shadow
For Thine is the Kingdom
Between the conception
And the creation
Between the emotion
And the response
Falls the Shadow
Life is very long
Between the desire
And the spasm
Between the potency
And the existence
Between the essence
And the descent
Falls the Shadow
For Thine is the Kingdom
For Thine is
Life is
For Thine is the
This is the way the world ends
This is the way the world ends
This is the way the world ends
Not with a bang but a whimper.
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29-APR-2013 :: The Brothers Tsarnaev and the Long Tail Law & Politics |
There are more than seven billion of us now in this c21st world of
ours. The long tail in a population of seven billion is not an
insignificant absolute number.
‘’In statistics, a long tail of some distributions of numbers is the
portion of the distribution having a large number of occurrences far
from the “head” or central part of the distribution.’’
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29-APR-2013 :: Put in a different way, there are surely many Brothers Tsarnaev in this new c21st of ours. Law & Politics |
And whilst I appreciate Osama Bin Laden is being nibbled by the fishes
somewhere in the ocean, he basically inspired the likes of the
Brothers Tsarnaev, i.e those disaffected with the c21st. In truth,
that disaffection might have any number of reasons and I am reminded
of my French O level where I studied Albert Camus’ L’Etranger and
Camus said;
“The byronic hero, incapable of love, or capable only of an impossible
love, suffers endlessly. He is solitary, languid, his condition
exhausts him. If he wants to feel alive, it must be in the terrible
exaltation of a brief and destructive action*.”
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From Oil to Ruthenium, Here's How Commodities Are Bouncing Back Bloomberg Commodities |
Commodities are booming again.
The Bloomberg Commodity Index is up more than 9 percent from its
late-June lows, outpacing the S&P 500 Index’s 6 percent advance over
the same stretch.
Signs that the long-awaited rebalancing of the global crude market is
at hand have pushed Brent futures to two-year highs, while West Texas
Intermediate isn’t too far behind. And it’s not just oil: Synchronized
global growth and China’s crackdown on capacity in a bid to help clean
up the environment have fostered gains across the spectrum for raw
materials.
Even more impressive for the broad commodity rally: It’s occurring
amid back-to-back months of gains for the Bloomberg Dollar Spot Index,
typically a headwind for raw materials.
Metals are also on a tear, giving traders and industry experts
gathered for LME Week in London plenty to cheer about. From aluminum
to zinc, just about everything is up. Codelco, the biggest copper
producer, suggested a run toward the all-time high of $10,190 a ton
may be possible. Expectations of surging battery demand are buffering
nickel prices. But the real star of 2017? That’s palladium. The metal
is heading for its highest close since 2001 thanks to its role as a
key component in curbing emissions in gasoline-powered vehicles.
A testament to firming demand buoying metals prices: Inventories on
the London Metal Exchange continue to shrink.
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28 killed in rare protests in Eritrea, opposition group says AP Africa |
ADDIS ABABA, Ethiopia (AP) — At least 28 people have been killed in
rare protests in the capital of Eritrea, one of the world’s most
reclusive nations, an official with the largest Eritrean opposition
group said Wednesday.
Another more than 100 people were injured in the protests in Asmara
that began on Monday and escalated on Tuesday, spokesman Nasredin Ali
with the Red Sea Afar Democratic Organization told The Associated
Press, citing sources on the ground in Eritrea. The group is based in
neighboring Ethiopia.
The U.S. Embassy in Eritrea late Tuesday reported gunfire “at several
locations in Asmara due to protests” and advised U.S. citizens to
avoid the downtown area. The statement did not say why the protests
occurred.
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Liberia's Supreme Court halts presidential run-off over fraud allegations Reuters Africa |
Liberia’s Supreme Court has stayed next week’s presidential run-off
election until it considers a challenge to first round results by a
losing candidate who has alleged fraud.
In Liberia’s capital Monrovia on Wednesday, riot police deployed
outside the Supreme Court and election commission headquarters as
authorities urged calm.
“The public should not panic,” Sam Collins, a police spokesman, told
local radio. “People can go about their normal business.”
Weah won the first round with 38.4 percent of the vote to Boakai’s
28.8 percent and picked up an important endorsement last week from
former warlord Prince Johnson, who won 8 percent of the first-round
vote [nL8N1N183V].
Morluba Morlu, a senior official from Weah’s CDC party, said on
Wednesday that he still expected the run-off to go ahead next week.
“It is sad for a ruling party that has been in power for 12 years (to)
be crying,” he said of Unity Party’s support for the legal challenge.
“We don’t want any mockery of this election.”
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Zimbabwe: Financial System Is Living On Borrowed Time - and Borrowed Money By Roger Southall, University of the Witwatersrand Africa |
Zimbabwe's financial system increasingly resembles a house of cards.
Were one card to give way - for instance, if South Africa's power
utility, Eskom, were to have the temerity to suggest that Zimbabwe
actually pay for the electricity that it's supplying the country - the
entire edifice would collapse.
To put it another way, the government is bust. It is again printing
money to cover its spiralling costs, and inflation is rising. And
given that there's an election looming in 2018, Zimbabwe's ruling
party, ZANU-PF doesn't want to cut-back. Far from it, it wants to
carry on spending, as fast as it can.
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Peter Hain's "smoking gun" - provides bank accounts detailing how Guptas took billions from SA via @biznewscom Africa |
LONDON — Renowned anti-Apartheid activist, Lord Peter Hain, drove a
very deep nail into the Zupta coffin in the UK’s House of Lords on
Wednesday. In a speech that was televised live, Hain said he has
handed over a “smoking gun” to the UK Treasury – documents revealing
details of money laundered by the Guptas from South Africa through the
UK into Hong Kong and Dubai. This evidence, which also contains full
details of the beneficiary bank accounts and how the money was sloshed
around to disguise its origin, breaks the investigation wide open,
giving the authorities an open and shut case of money laundering. Hain
also says that according to his information, these transactions
channelled were flagged by staffers at the UK bank used to launder the
dirty money. He did not name the bank today, but from his previous
disclosures, it is obvious that he is referring to HSBC. Hain says the
bank’s staffers were told by executives higher up the chain not to
report the transactions – an action which the Lord says makes them
criminally complicit. His full speech is transcribed below – the
dynamite section is highlighted in bold italics. With the FBI in hot
pursuit, and the UAE Central Bank closely eyeing the Guptas, this
latest revelation from Hain closes the loop for the authorities –
pointing them towards the evidence that will very likely retrieve
billions of rands back into South Africa and put the corrupt crony
capitalists – and their accomplices – behind bars for a long, long
time. – Alec Hogg
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"Afrikan Boy Sittin'" from "My Rock Stars: Volume 2" @1843mag Africa |
The nine works in “My Rock Stars” appear to be photographs, but as the
artists stand up to perform one by one you realise you are looking at
screens. Video art is rarely as compelling as these MTV-worthy
performances. When Afrikan Boy, a British-Nigerian artist who, like
Hajjaj, revels in his dual identity, starts to rap, the others look
sideways at him and nod or sway to the rhythm. In a thick Nigerian
accent, he delivers lines from his 2013 song “Hit Em Up”: “When I was
younger they said I was fat, I stopped learning how to swim just
because of that.” He’s mocking the stereotype of the African who is
skeletally thin, and can’t swim.
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N.S.E Today |
The Bank of England has raised interest rates a 1/4 point to 0.5% and
this is the first rate hike in a decade.
Sterling reacted poorly and was down more than a 140 basis points
versus the dollar.
The IMF said SUB SAHARAN AFRICA TO REGISTER 3.4 PERCENT GROWTH IN 2018
VS 2.6 PERCENT IN 2017
The Nairobi All Share could not maintain its winning ways and eased
-0.48 points to close at 163.48.
The Nairobi NSE20 Index maintained its run higher and closed +17.16
points to close at 3776.83
Equity Turnover was vibrant for the 2nd consecutive session and volume
clocked 970.128b
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N.S.E Equities - Commercial & Services |
Citi ahead of the Safaricom Earnings release tomorrow said '' We see
m-money as one of two growth drivers for the company going forward,
together with data. We are below consensus in our growth outlook as we
see three reasons for being cautious: 1. M-money growth is
increasingly shared with other players. 2. High voice prices are
likely to incentivize migration to OTT. 3. We think the gaming sector,
a tailwind in FY16-17, could start to decline following tax rise from
Jan 2018'' Safaricom rowed back -1.941% to close at 25.25 and traded
18.954m shares worth 482.86m.
Kenya Airways continued its recent winning ways to close +1.69% at
6.00 a 5 month high and traded 1.030m shares. Kenya Airways has
rallied a stellar +18.811% over 4 trading sessions.
Deacons rebounded +8.82% to close at 3.70 on just 500 shares traded.
Standard Group bounced +5.714% to close at 37.00 and is up a
mind-boggling +124.24% Year to Date.
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N.S.E Equities - Finance & Investment |
KCB Group rallied +4.45% to close at 41.00 and was trading at 42.00
+7.01% at the Finish Line. KCB has ramped +7.89% higher over 2
sessions. KCB traded 3.500m shares worth 143.869m.
Equity Bank which had rallied +12.413% since releasing its Q3 2017
Earnings, stalled today and closed unchanged at 40.75 and traded
3.092m shares worth 126.455m.
Centum Investments bounced +3.125% higher to close at 41.25 and traded
22,600 shares.
Kenya Re ratcheted +6.25% higher to close at 21.25 and traded light.
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N.S.E Equities - Industrial & Allied |
KenGen firmed +0.56% to close at 8.95 and was trading at session highs
of 9.20 +2.25% at the closing Bell. KenGen traded 4.085m shares and I
stand firm on my Year End Price Target of 10.00.
KenolKobil closed +1.35% stronger at 15.00 and traded 2.456m shares.
KenolKobil trades on a Trailing PE of 9.146 and accelerated H1 2017
PBT +20.573% making it attractive at these levels.
Total Kenya rallied +5.95% to close at 22.25 and traded 22,900 shares.
EABL firmed +0.4% to close at 245.00 and traded 275,200 shares.
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