The Securities Exchange traded 654.404m and Sh4.02 billion worth of business during the week.
The Securities Exchange has been retreating since August 19 when the indices touched 10 week highs.
The market had been anticipating the earnings season and some near term bull fatigue has taken the market lower.
Kakuzi was the biggest gainer and was high ticked +6.51% to close at 90.00 and trades on a trailing PE of 4.6511 and reported a 3.152% deceleration in H1 2013 PBT.
Rea Vipingo rebounded +7.77% to close at 27.75 and trades on a trailing PE of 4.376.
Safaricom firmed 0.65% to close at 7.70 and traded 14.218m shares. Safaricom has rebounded 2.666% over the last two trading sessions and has traded a total of 128.073m shares. Safaricom rallied 61.386% from the start of the year through August 20, on which date Safaricom closed at an all time high of 8.15. Safaricom then retreated 7.975% 20th August through the 28th August before buyers stepped in and mopped up the excess supply over the last two sessions.
I attended the Nation Media investor briefing where Nation reported a +9.99% expansion in H1 revenues, and a +23.989% acceleration in H1 2013 profit after Ttax. Nation Media was described as a 'complex and diverse' business by its chairman and had to weather some choppy seas in Uganda where Monitor reported that operating Profits were down -87.00%. The rest of the Business was muscular with Tanzania, Business Daily, Digital Media and the Swahili TV and Radio Assets standing out.
ScanGroup retreated 3.73% to close at 64.50 and traded 253,200 shares worth 16.447m. ScanGroup was trading at 60.50 -9.7% and the daily limit at the finish line. ScanGroup reported a slide in H1 PBT to 101.168m versus 578.417m and -82.509%. Investors are currently focussed on that headline number and have run the price down 6.521% since the results were issued. The key point to note is that ScanGroup is very much @WPP's chosen SSA vehicle, to wit WPP via Cavendish Square Holding B.V are seeking to buy 94,075,974 ordinary shares of ScanGroup and are paying 85.85 a premium of 33.1% to the current closing price for 21.355898m shares.
Kenya Airways dipped 0.53% to close at 9.45 and the share price is unchanged on the month and +6.179% since the 16th of August.
Kenya Commercial Bank which released its H1 2013 earnings, retreated 1.754% to close at 42.00 and traded 2.83m shares worth 118.873m. KCB is +41.176% this year and has corrected 6.66% since closing at an all time high of 45.00 on 23rd August. 40.00 is a floor and key support and KCB will turn around ahead of that number.
Equity Bank traded 2nd at the exchange and closed unchanged at 32.75 while Britam followed on yesterdays +1.27% move higher with a further push of +1.875% to close at 8.15 and was trading at session highs of 8.35 and +4.38% at the finish Line.
In the Industrial and Allied, EABL was the most actively traded share at the Securities Exchange and eased a further 0.7% to close at 284.00 and traded 793,200 shares worth 225.926m. EABL has retreated 17.441% over the last four weeks and since it released its FY profits warning. I conducted an Interview with the CEO and Group MD Charles Ireland which is now uploaded here http://www.rich.co.ke/rctools/richtvi.php The price correction has probably run its course now.