The first few days of US President Donald Trump's administration have been remarkable.
''Then they say 'is Donald Trump an intellectual? Trust me, I’m like a smart persona,” the president informed the CIA. “Did everybody like the speech?” Trump asked. ''I say, wait a minute, I made a speech. I looked out, the field was – it looked like a million, million and a half people.”
Crowd scientists who spoke to the Times estimated that about a hundred and sixty thousand people attended, compared with the record-setting 1.8 million who were estimated to have been at President Obama’s first inauguration.
The situation is in danger of turning Orwellian.
My theory is the Trump administration is like an imperial court and no one is prepared to counsel and caution, and that's why we keep witnessing these crazy and vainglorious episodes like the size of his inauguration.
Through executive order, President Trump has withdrawn the US from TTIP and lobbed some serious threats at the Chinese.
The withdrawal from TTIP is signalling a more protectionist US encouraged profit-taking on the Dollar which had rallied sharply since November 8th.
The UK supreme Court has ruled Parliament must vote on triggering Brexit
It is predicted and predictable that Parliament will accede to Brexit.
The NSE20 sank -1.11% to close at a fresh 2008 low of 2873.02. The NSE20 has slumped -9.82% in 2017.
The Nairobi All Share retreated -0.62% to close at 123.29 and is -7.53% in 2017 and at levels last seen in July 2013.
Equity turnover was brisk and clocked Sh1.015bn.
Sasini Tea and Coffee firmed +0.57% to close at 17.55 and closed the session trading shares as high as 19.10 +9.46%. Sasini Tea and Coffee reported FY Earnings yesterday where FY Revenue accelerated +28.157% but FY Earnings Per Share declined -20.609%. It's a cheap share and tea prices are on a tear in 2017.
Safaricom closed unchanged at 18.20 and traded 12.379m shares worth 225.332m. Safaricom is basing out at -4.96% Year To Date and got caught up in the back-wash of a Bear market at the Securities Exchange.
TPS Serena bucked the trend and closed +0.26% at Sh19.05.
Kenya-Re closed unchanged at Sh23.00 and traded 3.793m shares. Kenya Re is +2.22% in 2017 and this outperformance has been activated on good volume action.
Bank shares were soft and traded to the downside with Barclays easing -2.59%, Co-operative Bank -2.08%, Equity -0.96% and KCB -0.94%. Housing Finance, which has been reacting to revelations being produced in court, retreated -3.82% to close at Sh11.30. HFC has fallen -19.28% in 2017, three times faster than the All Share.
Ahead of the release of its H1 Earnings this Friday and after announcing that they are seeking offers for ''a six-acre piece of land in Mombasa’s Shimanzi Industrial Area'' worth about $7m, EABL eased back -0.9% to close at 220.00 and on heavy volume action of 2.352m shares worth 517.646m. EABL is -9.83% in 2017. Andrew Cowan will be delivering his first earnings release this Friday.
BAT ticked -0.09% lower to close at 899.00 and traded 156,900 shares. BAT is -1.1% in 2017 outperforming the Indices by a wide margin with the RJ Reynolds Buy-Out surely keeping the share on a strengthening tack.