Nairobi Star (Nairobi)
Aly Khan Satchu
29 November 2011
The NSE20 closed at its 2nd successive 2011 and 19 month closing low. The NSE20 fell 17.05 points to close at 3235.54. The Nairobi All Share shaved off 0.18 points to close at 67.87. Market Cap was 866.156b versus 868.523b. This was certainly the slowest session of the Year. Equity turnover was 58.679m versus 144.277m last time. The shilling was last trading at 90.40.
Agriculture
Williamson Tea rallied 5.55% to close at 285.00. Williamson Tea reported H1 2011 PBT accelerated 64.431% to 1.073361b. Of this 1.073361b, 144.642m was related to the sale of its head office. Williamson Tea trades on a 2.9245 trailing PE and is the best performing counter at the bourse with a 75% return in 2011, when the final dividend is factored in. Kakuzi firmed 2.9411% to close at 70.00.
Commercial and Services
Safaricom traded 590,800 shares only and this was the 2nd Consecutive session where it has not managed to trade more than a million shares and speaks to the thinness of the trading at the NSE. It closed unchanged at 2.80. Kenya Airways was at 21.25 and traded 78,200 shares. Uchumi firmed 1.333% to close at 7.60 and traded 63,800 shares. Standard Newspapers was high-ticked 9.183% to close at 26.75 on 100 shares. Nation Media retreated 3.44% to close at 140.00 and traded 13,100 shares.
Banks
Kenya Commercial Bank retreated 2.57% to close at 15.15 on 274,800 shares. Barclays Bank firmed 0.8333% to close at 12.10 and traded 261,300 shares. Equity Bank was the most active counter. Sentiment was probably soft due to a report carried in Business Daily that Dr James Mwangi had reduced his Position 0.13% from 3.58% to 3.45%, which represents a divestment of about 5m shares. Equity Bank eased 0.28% to close at 17.95 and traded 1.220m shares worth 21.917m.
Equity Bank remains -30.801% in 2011. Equity Bank rallied 17.647% October 12 [after releasing its Q3 2011 Earnings] through November 1. Equity Bank sits 5.588% above that October 12 Close. Equity trades on a 9.3005 Trailing PE. COOP Bank eased a further 0.7755% to close at 12.80 and traded 52,400 shares. StanChart closed 1.73% lower at 170.00 and traded 6,100 shares. CFC StanBic eased 1.754% to close at 42.00 and traded 15,200 shares. Transcentury rose 9.615% to close at 28.50 on just 100 shares.
Industrial and Allied
EABL is commissioning a new facility in Moshi which will double capacity at its Serengeti Breweries. EABL has also availed itself of a loan in the amount of 19.5b Kenya Shillings, with which it has already completed the Purchase of SABMiller’s 20% Stake in Kenya Breweries. EABL firmed 0.62% to close at 162.00 and traded 5,900 shares.
Athi River Mining was the 2nd most active Counter. ARM eased 0.65% to close at 153.00 and traded 46,700 shares worth 7.151m. ARM has posted a -10.17% 1 Year Return and sits 21.938% beneath its all Time Intra Day High of 196.00 from earlier this Year.
AllAfrica – All the Time