Stan­Chart ral­lies, Bar­clays flat on NSE

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

The yield on Kenya’s $2 bil­lion bond due June 2024 has shot up 170 ba­sis points to 8.54 per cent, last time I looked.This back up in yields has all oc­curred since Trump won the US elec­tions. The dol­lar is on the ram­page across the board. Kenya shilling is at 101.852 ver­sus the dol­lar.

The Nairobi All Share popped +0.97 higher to close at 140.06. The Nairobi NSE20 In­dex firmed +10.76 points to close at 3272.47. Eq­uity turnover clocked 437.363mil­lion.

Sa­fari­com firmed +1.23 per cent to close at Sh20.50 and traded 4.934 mil­lion shares. Half one 2016 earn­ings jus­tify a higher price, and any price cor­rec­tion will be short-lived ahead of a run to­wards Sh25.00 fresh record highs.

Bar­clays Bank re­ported Q3 2016 earn­ings where EPS de­creased by -5.1 per cent. To­tal op­er­at­ing in­come in­creased by 12.5 per cent to Sh24.4 bil­lion.

Non-op­er­at­ing in­come grew by 16.3 per cent to Sh7.6 bil­lion, driven mainly by +38.5 per cent growth in for­eign ex­change in­come and 2.1 times in­crease in other in­come. Bar­clays closed un­changed at Sh8.85. The bank is -31.98 per cent on a to­tal re­turn ba­sis, and the sec­ond worse per­form­ing bank share in 2016 ahead of only Na­tional bank which is -49.52 per cent over the same dates, af­ter be­ing high-ticked +9.65 per cent today to close at Sh7.95 on just 500 shares.

Stan­chart ral­lied +2.717 per cent to close at Sh189.00 and traded 3,700 shares. Stan­Chart is the bank­ing out­lier at the Se­cu­ri­ties Ex­change hav­ing reg­is­tered a +18.41 per cent to­tal re­turn in 2016.

Eq­uity firmed +1.56 per cent to close at a 10-week high of Sh32.50 on good vol­ume of 1.692 mil­lion shares.

KenGen fol­lowed on Tues­day’s +3.54 rally with a fur­ther +6.83 per cent surge to close at Sh6.25 a three week high. KenGen traded 2.364 mil­lion shares and re­mains egre­giously if not ab­surdly priced at these lev­els.

Cen­tum re­ported half one 2016 earn­ings this morn­ing be­fore the open­ing bell. Cen­tum closed un­changed at Sh41.00 on sub­dued trad­ing of 33,400 shares. Cen­tum is -9.67 per cent in 2016. Half one in­vest­ment and other in­come clocked Sh8.49 bil­lion +1.26 per cent, half one fi­nance costs re­duced by -24.99 per cent to (Sh945.6 mil­lion). Half one profit be­fore tax surged +22.83 per cent to reg­is­ter Sh2.76 bil­lion. They did not re­peat the one-off AON ex­tra­or­di­nary gain of Sh1.7bil­lion and there­fore this hard one per­for­mance is strong when you ac­count for that fact. The group’s cash and cash equiv­a­lents de­creased to Sh 5.4 bil­lion (-47.2 per cent).The com­pany has stated that the Two Rivers Mall is com­plete and ex­pects it to be launched in quar­ter one of 2017.

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