11 August 2012

Kenya: EABL and Equity Bank Dominate Trade

The NSE20 firmed 7.52 points to close at 3831.01.The NSE20 has rallied 626 points and 19.531% in 2012. The Nairobi All Share edged 0.002 points lower to close at 83.858. Business was Brisk and the Equity Market traded 485.115m. Turnover has picked up through the Week, in fact.We are in the midst of Results Season and in the Main The Results have outperformed Street Estimates and this supports a Move higher.

In Agriculture

Kakuzi traded 21,900 shares all at an unchanged 75.00. Kapchorua Tea ticked 2.96% higher to close at 139.00.

In Commercial and Services

Safaricom traded 3rd and eased 2.56% to close at 3.80. Safaricom traded 10.923m shares worth 41.512m. Safaricom sits 3.797% beneath its 12 month closing High of 3.95 from 25th and 26th July and the 3rd of August. I expect a push through that 12 month high, imminently. ScanGroup traded 6th. ScanGroup firmed 1.75% to close at 58.00 and traded 472,300 shares worth 27.387m. ScanGroup is +39.759% in 2012 and this is a Fresh 20 month closing High. Nation Media turned 0.5617% higher to close at 179.00 and traded 3,300 shares. TPS Serena traded 101,100 shares and closed at 40.00.

In Banks

Kenya Commercial Bank traded 4th. KCB closed unchanged at 24.50 and was at 24.75 +1.02% at the closing bell. KCB traded 1.522m shares worth 37.62. buy side demand outweighed supply by a factor of 3 to 1 and the price points higher. KCB is +57.863% on a Total Return Basis in 2012and this is 2012 high. Standard Chartered rallied 3.141% to close at 197.00 and traded 4,500 shares. StanChart released H1 2012 Earnings yesterday, where H1 PBT increased +87.501% Equity Bank traded 2nd at the Exchange. Equity Bank closed unchanged at 21.25 and traded 5.437m shares worth 115.537m. Equity Bank has traded 13.316m shares over the last 2 Sessions. Barclays Bank closed unchanged at 14.30 and traded 561,800 shares. COOP Bank firmed 0.4524% to close at 11.10 and traded 700,900 shares. Kenya Re improved 0.9433% to close at 10.70 and traded 160,500 shares. Kenya Re reported H1 Earnings where PBT increased +40% and H1 PAT +37%.

In Industrial and Allied

EABL was the most actively traded share at the Exchange today and firmed 0.8733% to close at 231.00 and traded 696,800 shares worth 161.628m, which represented 33.3175% of the total turnover in todays quite brisk session. EABL is +35.755% on a Total Return Basis in 2012 and is set to test its all time closing high of 240.00 from July 6th this Year. EABL is set to release FY Results towards the End of the Month. BAT traded 5th. BAT eased 0.25% off an all time closing high to close at 399.00 and traded 68,800 shares worth 27.519m. BAT is +89.777% in 2012 on a Total Return Basis and 400.00 is an all time record closing high, set August 9th. Eveready improved 2.631% to close at 1.95 and traded 2.109m shares [1.004% of its shares]. Eveready is +8.571% in 2012 and reported a sharp turnaround in its H1 Earnings, a little while back where it turned a 6 month PBT of 66.972m versus a loss of 72.223m previously. Total Kenya rallied 6.769% to close at 17.35 and traded 54,000 shares.

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