The Star (Nairobi)

Kenya: Eabl Trades At Record High for Third Straight Session

The Nairobi all share firmed 0.19 points to close at 93.38. The Nairobi all Share is +37.262% in 2012 and is 0.55% below its 17-month high from 26th November. The NSE20 firmed 18.49 points to close at 4085.70. The NSE20 index is +27.457% in 2012. Equity turnover was 491.37m versus 1.097b last time. BAT and ScanGroup set fresh all time closing highs. EABL remains at an all time closing high.

In Agriculture

Kakuzi traded 488,600 shares [2.49285% of its shares and a material position] worth 33.713m and all at 69.00 and unchanged. Kakuzi trades on a trailing PE of 2.459 but issued a full year profits warning on the 30th of November.

However, The agricultural companies had been in an elevated and earnings sweet spot and therefore even after the profits warning, the share trades on a steep discount.

In Commercial and Services

Safaricom was the most actively traded share at the Securities Exchange and closed unchanged at 5.05 and traded 15.773m shares worth 79.748m. Safaricom is +78.644% in 2012 and sits 2.884% below its 28 month closing high of 5.20 from the 26th of last month.

ScanGroup rallied 2.24% to close at a fresh all time closing high for the second consecutive session. ScanGroup traded 26,000 shares. TPS Serena rallied 5.298% to close at 39.75 and traded 2,600 shares.

Uchumi closed unchanged at 19.45 and traded 1.705m shares worth 33.244m. Kenya Airways bounced 2.33% to close at 11.00 and traded 162,600 shares. Nation Media eased 0.9009% to close at 220.00 and was trading at 215.00 -3.15% and session lows at the closing bell.

Nation Media has corrected 8.713% since closing at 241.00 on November 21st which was a 53-month high.

Banks

KCB closed unchanged at 29.00. Kenya Commercial Bank is +83.086% in 2012, sits 4.1322% below its 53-month high achieved 14th through 20th November and has bounced 6.422% since December 10th.

Standard Chartered firmed 0.43% to close at 236.00 and traded 134,800 shares worth 31.846m. Barclays Bank firmed 0.34% to close at 14.70 and traded 1.702m shares worth 25.021m.

COOP Bank firmed 0.42% to close at 12.00 and traded 1.202m shares worth 14.439m. Equity Bank closed unchanged at 23.50 and traded 668,800 shares. Demand outweighs supply by a factor of 13.4 versus 9.3 signalling the price is well supported here. Industrial and Allied BAT firmed 0.851% to close at 474.00 which is a fresh all time closing high and traded 89,400 shares worth 42.385m.

BAT was trading at 480.00 +2.13% session highs into the closing bell and that is a fresh all time intra day high. EABL closed unchanged at a record high for the third consecutive session.

EABL closed at 260.00 and traded 62,400 shares worth 16.282m. Mumias Sugar rallied 4.08% to close at 5.10 and traded 1.453m shares worth 7.43m. Mumias Sugar is +4.081% in December and is +5.66% on a total return basis and trades on a 3.8769 trailing PE.

There is chatter around a rights issue. Bamburi Cement which traded 2.519m shares [0.694% of its shares] yesterday and closed at a 21 month closing high firmed 0.53% to close at 190.00 KenolKobil closed unchanged at 14.00 with 2.612m shares worth 36.578m changing hands.

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