KQ un­changed de­spite pi­lots’ strike threat

The Star (Kenya) - - News - ALY KHAN SATCHU

The news that South African Fi­nance Min­is­ter Pravin Gord­han had been served with a war­rant of ar­rest roiled SA as­set prices with the rand crash­ing up to 3.71 per cent lower ver­sus the dollar. Gord­han pre­sciently said the fol­low­ing at the Fi­nan­cial Times Africa 2016 con­fer­ence last week: “As long as I am in my po­si­tion I have con­fi­dence of Pres­i­dent Zuma but it can end with 1 phone call.’’ He was kindly asked to switch off his phone for the du­ra­tion of the in­ter­view.

The Bri­tish pound was last at 1.2271 ver­sus the dollar. The Nairobi All Share closed lower. The NSE20 In­dex re­treated -17.02 points to close at 3241.92. Eq­uity turnover, slowed from Sh1.01 bil­lion pre­vi­ously to clock Sh636.963 mil­lion.

Kenya Air­line Pi­lots As­so­ci­a­tion has called for an in­def­i­nite strike from Oc­to­ber 18 to protest what it de­scribed as poor man­age­ment at Kenya Air­ways, the union’s gen­eral sec­re­tary said on Tues­day. “We have no con­fi­dence in the air­line’s re­cov­ery,” said the cir­cu­lar from Capt Paul Gichinga, the head of Kalpa. “Kalpa’s mem­bers will from Tues­day down their tools un­til a com­pre­hen­sive change of guard at Kenya Air­ways is ef­fected.”

Kenya Air­ways closed un­changed at a three-month high of Sh4.20 with 120,700 shares chang­ing hands. Re­cent rev­e­la­tions have not slowed a re­cent price re­bound. Sa­fari­com eased -1.23 per cent to close at Sh20.00 and traded 9.580 mil­lion shares worth Sh192.473 mil­lion. Sa­fari­com has been a bull out­lier for four years now. TPS Ser­ena re­treated -4.76 per cent to close at Sh18.00 and traded 954,300 shares. A sig­nif­i­cant share­hold­ing has been chang­ing hands at these lev­els of -28.00 per cent year to date. KCB Group re­treated -2.702 per cent to close at Sh27.00 and traded 1.460 mil­lion shares. KCB has spo­ken of seek­ing part­ner­ships across the dig­i­tal Fin­tech space.

“To­day we an­nounce the death of brick and mor­tar for trans­ac­tions in bank­ing,” said Eq­uity Group chief ex­ec­u­tive James Mwangi at a press brief­ing. Eq­uity Group firmed 1.68 per cent to close at Sh30.25 on good vol­ume ac­tion of 3.760 mil­lion shares worth Sh113.868 mil­lion. Stan­dard Char­tered closed un­changed at Sh180.00 and traded 8,200 shares. StanChart has se­ri­ously out­per­formed its big cap peers and is pos­i­tive through 2016.

EABL was the most ac­tively traded share at the ex­change yes­ter­day and firmed 0.35 per cent to close at a 10 week high of Sh283.00, trad­ing713,100 shares worth Sh202.287 mil­lion. EABL is 5.677 per cent in 2016. KenGen saw strong vol­ume of 3.620 mil­lion shares and tacked -0.72 per cent lower to close at Sh6.85 but was trad­ing at Sh7.00, a 1.45 per cent five-month high.

Newspapers in English

Newspapers from Kenya

© PressReader. All rights reserved.