28 February 2013

Kenya: Stanchart to Cross 300 After Full Year Results

The official closing data from the Nairobi Securities Exchange was delayed but the stock exchange traded 637.252m of turnover.The indices have evidently closed higher.

The exchange was a sea of blue.The equity markets are like a coiled spring and just waiting for a green light from the politics.Kenya Power and KenGen released H1 results and I will take a look overnight.

Safaricom traded 3rd and rallied 1.77% to close at 5.75 and traded 8.012m shares worth 46.059m. Safaricom had buy side demand for 475% more shares than were traded during the session at the closing bell. Safaricom is +13.861% in 2013 and within 0.862% of its Jan 9th closing high of 5.80 which was a 30-month closing high. Safaricom is set to test and cross that level in short order.

Access Kenya rallied 6.9% to close at 6.20 and is +40.909% in 2013.Kenya Commercial Bank eased back 1.91% to close at 38.50 after Tuesday's 6.08% up move to a record closing high. KCB is reporting FY earnings today and is +29.411% in 2013.

Equity Bank traded 4th at the exchange and rallied 3.736% to close at 27.75 and was trading at 28.00 +4.67% at the finish line.Barclays Bank firmed 0.615% to close at 16.35 and was trading at session highs of 16.45 +1.23% at the finish line. Barclays Bank traded 1.472m shares worth 24.060m and investors are supporting the price and reaching for the 70c final dividend which is worth 4.281% of yield on the closing price.

Standard Chartered eased 0.3773% to close at 264.00 and was trading session highs of 268.00 +1.13% at the closing bell. Standard Chartered will cross 300.00 after the release of its full results and a subsequent predicted and predictable stock split.

TranCentury rallied 1.89% to close at 27.00 and is +14.89% in 2013. It holds a material stake in EA Cables which reported strong FY earnings this week and was probably the catalyst for the action.

EABL was the most actively traded share at the securities exchange and firmed 0.36% to close at 280.00. EABL has traded 4.601m shares over the last 3 sessions, which is material and noteworthy. EABL is +5.66% in 2013, reached an all time high of 315.00 on Feb 13th and just before the release of its half year earnings and has corrected 11.11% off that closing high.

BOC Kenya traded 599,900 shares [some 3.071% of its shares and a material position worth 59.99m and all at 100.00. BOC Kenya is +0.50% in 2013. BOC Kenya trades on a trailing PE multiple of 12.97 and accelerated H1 PAT +57.192%.

KenGen released H1 earnings after the closing bell and rallied 5.603% to close at 12.25.Kenya Power KPLC closed unchanged at 16.80 and reported FY earnings after the closing bell.

East African Cables rallied 8.72% to close at 14.95 while BAT rebounded 1.34% to close at 530.00.

Athi River Mining closed unchanged at 62.00 and is +39.0134% in 2013 and 0.80% off a record high.

Bamburi Cement and East African Portland Cement did not trade.

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