80% of mar­kets in favour of a Clin­ton’s win

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

All eyes were trans­fixed on the US pres­i­den­tial elec­tion, which has been an ex­tra­or­di­nary spec­ta­cle from Don­ald Trump’s lin­guis­tic war­fare from “Lit­tle Marco” to ‘’Low-en­ergy Jeb’’ to ‘’Crooked Hil­lary’’ through to the last­gasp in­ter­ven­tions by the FBI. You could not have made up the story line if you tried. Ac­cu­sa­tions of Rus­sia’s Pres­i­dent Vladimir Putin’s ne­far­i­ous hand and Wik­iLeaks founder Ju­lian As­sange drip feed­ing the pedestal emails, all con­firm an ex­tra­or­di­nary elec­toral cy­cle. As we waited for the re­sults, pre­dic­tion mar­kets by yes­ter­day af­ter­noon had Hil­lary Clin­ton at an 80 per cent prob­a­bil­ity with Don­ald Trump at 20 per cent. A Trump win would catch the mar­kets as of­f­guard as Brexit.

Closer to home, me­dia re­ports in­di­cated that Prime Bank’s chair­man Rasik Kan­taria was a 47.32 per cent share­holder in Crane Bank Uganda, which was placed into re­ceiver­ship last month. Prime Bank, which is ranked 15th in size out of Kenya’s 40 op­er­a­tional banks, said: “Prime Bank is a pro­fes­sion­ally run fi­nan­cial In­sti­tu­tion reg­u­lated by the CBK (Cen­tral Bank of Kenya). We are fully com­pli­ant and strictly fol­low the pru­den­tial guide­lines laid down by the CBK.”

The Nairobi All Share eased back -0.69 points to close at 139.80. The Nairobi NSE20 ticked -6.07 points lower to close at 3242.46. Eq­uity turnover clocked Sh16.316 mil­lion. Sa­fari­com eased 25 cents to close at 20.75 and traded 16.019 mil­lion shares. The pull­back will be shal­low and short-lived.

Kenya Air­ways ral­lied +4.38 per cent to close at a fresh 2016 high of Sh7.30, and on good vol­ume of 1.074 mil­lion shares. Kenya Air­ways has surged since the an­nounce­ment of the ap­point­ment of Michael Joseph as chair­man. Kenya Air­ways is +48.97 per cent through 2016. Na­tion Me­dia fell -1.01 per cent to close at fresh multi-year low of Sh98.00 and traded 7,200 shares. Na­tion Me­dia is -47.38 per cent in 2016.

Eq­uity Bank firmed +1.62 per cent to close at 31.25 and traded 1.942 mil­lion shares. Eq­uity Bank’s CEO Dr James Mwangi struck a very pos­i­tive note about Eq­uity’s po­si­tion in the new bank­ing nor­mal dur­ing the re­lease of Eq­uity’s Q3 16 earn­ings last week. KCB firmed +0.86 per cent to close at Sh29.00, and traded 757,300 shares ahead of its quar­ter three earn­ings re­lease later yes­ter­day. EABL was the most ac­tively traded share today and eased -0.36 per cent to close at 274.00 and traded 699,000 shares.

Kenya Power, which sig­naled a sharp slow-down in cap­i­tal ex­pen­di­ture for this fi­nan­cial year to June 2017, traded 1.648 mil­lion shares and closed un­changed at Sh9.00. ARM Ce­ment ral­lied +4.95 per cent to close at a three-week high of Sh26.50

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