Safaricom slides back to 26.50 a share

The Dollar has been routed over the last few trading sessions, after minutes of the Fed’s last meeting showed “many participants” were concerned inflation would stay below the bank’s two per cent target for longer than expected.

“The US dollar was already staggering into Thanksgiving when the FOMC minutes gave it another shove,” said Sean Callow, a senior currency analyst at Westpac.

The FOMC seems to be increasingly uneasy about “ongoing softness in inflation.”

So it appears as if Powell is a little pussy cat.

US crude futures CLc1 eased back 12 cents to $57.90 a barrel, after jumping two per cent on Wednesday to ground last trod in mid-2015. Venezuela’s annual inflation rate soared to 4114%, a new all time high in his first public speech, incoming leader Emmerson Mnangagwa says Zimbabwe is witnessing a "new and unfolding democracy".

Zimbabwe is at an inflexion point and a ZANU-PF ''snake'' strategy [shedding its skin but still remaining the same] has zero chance of success.

What is clear is that Zimbabwe is entering a new normal and that in the medium term, Zimbabwe has the potential to be one of the fastest growing economies in Africa. The people want to grab that opportunity with both hands. If Zanu-PF wants to be part of that new more optimistic future, they need to invite the Opposition into Government, look for a big cash Boost from the international Community in order to stabilise the now.

South Africa faces a triple witching hour today when the ratings agencies will decide if

local ZAR bonds stay one notch above junk or downgrade.

The Nairobi All Share which had surged 5.54% over the previous two sessions and since the Supreme Court guillotine corrected 4.27 points to close at 167.90

The Nairobi NSE20 eased -12.69 points to close at 3826.76. Equity turnover was 839.269 million.

Safaricom which had ramped 8.73% higher over the previous two trading sessions and topped fresh closing highs, met some profit taking pressure and corrected -5.35% to close at Sh26.50 on trading volume of 16.339 million shares worth Sh436.2 million. Safaricom remains in a relentless multi-year Bull Channel and a strategy of buying the dip has worked like a peach for years.

Barclays Kenya reported third quarter of 2017 EPS declined -12.5%, Q3 loans and advances to customers (net) advanced 5.292% to Sh167.24 billion, Q3 total assets clocked Sh277.9 billion +5.290%, Q3 Profit/ [loss] before tax and exceptional items retreated -11.52% and clocked Sh7.70 billion. Barclays Kenya

is 23.07% in 2017 on a total return basis and the share trades on an undemanding Trailing PE ratio of 7,353. Barclays Bank eased -0.5% to close at 9.95 and traded 227,700 shares.

KCB Group corrected -1.14% off an 11-week closing high to close at 43.25 and traded a million shares.

NIC Bank reported

reports Q3 2017 EPS declined -1.33% to 5.19, Q3 loans and advances to customers (net) advanced +7.31% to 118.5 billion, Q3 loans and advances to customers (net) advanced +7.3% to 118.5 billion and Q3 profit/ [loss] before tax and exceptional items declined -7.3% to Sh4.3 billion. NIC Bank trades on a trailing PE of 5.428 which is egregious given John Gachora's outstanding captaincy. NIC is outperforming its Tier 2 Peer Group by a wide margin. NIC Bank eased -0.68% to close at 36.50 and traded 159,700 shares.

Kenya Re closed unchanged at 20.50 on heavy volume action of 6 million shares worth Sh124.2 million. Kenya Re trades on a Trailing PE Ratio of 4.362 which is 1/3rd of the Nairobi Securities Exchange average but this has been the case for a number of years. Kenya Re is -5.33% in 2017.

Jubilee Insurance traded the grand total of 100 shares at Sh490.00, +4.93%.

KenGen crossed 9.00 and firmed +1.69% to close at a 6 week high of 9.05 and traded 253,700 shares. Buyers outpaced Sellers by a Factor of 4 to 1 signaling further follow through gains.

KenolKobil crossed 15.00 and closed 1% stronger at 15.05 and traded 4.801m shares worth 72.611m. KenolKobil trades on a Trailing PE of 9.17 and accelerated H1 PAT 17 +19.541%.

EABL finally discovered its mojo and firmed +1.26% to close at 241.00 and traded 156,000 shares.

East African Portland Cement was up ticked by the daily maximum and closed 10% at Sh27.50 and traded 1,700 shares.