30 November 2012

Kenya: Eabl Sets New All Time High

The Nairobi All Share eased a further 0.30 points to close at 92.26. The Nairobi All Share is +35.6166% in 2012 but has corrected 1.7465% since hitting a 17 month closing high on 26th November.

The Nairobi NSE20 index eased 16.71 points to close at 4111.92. The NSE20 index is +28.268% in 2012 and has corrected 1.4385% since hitting a 20 month closing high on the 21st of November. Equity Turnover was 363.55m.

Safaricom closed unchanged. Kenya Commercial Bank has retreated 9.0909% since 19th November and ahead of an announcement around the incoming CEO.

Eaagads retreated 9.183% to close at Sh22.25 and traded 3,800 shares. Eaagads released half year earnings this week where profit before tax slipped into a loss of Sh100.085m and they issued a Profits warning.

The market capitalisation of Eaagads is Sh357.735 million. Frankly, If They cannot make money at Coffee, They need to start looking at unlocking value for their shareholders and they might as well start with those grasslands. They of course grow Coffee on 203.37 Hectares.

Rea Vipingo firmed 2.702% to close at Sh19.00 and traded 200 shares.

Safaricom closed unchanged at Sh4.90 and traded 22.618m shares worth Sh111.066m. Safaricom traded a wide Intra Day Range of 4.60-4.95 and was 4.95 bid +1.02% at the close. Safaricom closed at 5.20 a 27 month high on 26th November. Safaricom is +73.559% on a Total Return Basis in 2012 and sits 5.769% below its 27 month high.

Nation Media retreated 2.5% to close at Sh234.00 and traded 9,600 shares. Kenya Commercial Bank retreated 2.654% to close at Sh27.50 and traded 538,400 shares.

Equity Bank eased 2.06% to close at Sh23.75 and traded 871,600 shares worth Sh20.907m. Equity Bank has corrected 5% off a 16 month closing high from 15th November.

Standard Chartered firmed 0.8533% to close at Sh237.00 and was trading session highs of 239.00 +1.7% at the Closing Bell. StanChart traded 66,300 shares worth Sh15.712m.

EABL set a new all time record closing high today. EABL traded 368,900 shares worth Sh90.367 million at 245.00 +1.24%. International Investors have been stretching for beer and beverage equity all year and have been in an intense love Affair with growth in Africa and the intensity has grown throughout the year. This Growth was evidenced in EABL's FY Results where, for example, Johnnie Walker Sales increased 74% year on year.

KenolKobil traded 4th and closed unchanged at 14.85 with 1.383m shares worth Sh20.537m. KenolKobil remains in a due diligence process with a view to a take over offer being tabled by Puma Energy. However, The Timeline that was put out by KenolKobil is now long past.

KenGen traded 5th the day after the CEO Eddie Njoroge announced he would retire early next Year. KenGen firmed 1.02% to close at Sh9.90 and was trading at session highs of Sh10.00 +2.04% at the closing bell.

KenGen traded heavy volume of 2.008m shares worth Sh19.924m. KenGen is 5 cents of a 15 Month closing high from November 12th. KenGen looks set to cross chart resistance at Sh10.00 imminently.

Mumias Sugar fell 4.545% to close at Sh5.25 and traded 609,200 shares.

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