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November 15, 2018

Flame Tree unchanged on acquisition

Nairobi securities exchange NSE. /FILE
Nairobi securities exchange NSE. /FILE
Internationally, Prime Minister Shinzo Abe has called a snap election in Japan and surely is seeking to leverage the PyongYang threat.
President Trump [linguistic warfare specialist] has met his verbal match in Kim of North Korea and PyongYang and Trump remain geopolitical wildcards.
The Far-Right AfD ascended to third place with 13.5 per cent in the German election which dampened any exuberance around madam Merkel's fourth consecutive win at the ballot. 
The AfD advance and the situation in Catalonia in Spain sent the Euro back below 1.19 to the Dollar.
Trading at the Securities Exchange was lacklustre and lackadaisical and total volume was just 254.193m.
Investors at the NSE are still wrestling with a fluid political situation.
Kenya's Opposition Plans Mass Protests to Force Out Vote Officials was a Bloomberg headline.
“Demonstration is the only language these people understand and for us it’s not going to be a one-day event,” Magaya said by phone from Nairobi, the capital. “Tuesday is just the launch of the mass movement and we will spread these demonstrations countrywide.”
The Opposition in  my view are seeking to take their asymmetric response to its conclusion.
The Nairobi All Share closed -0.19 points lower at 165.72
The Nairobi NSE20 Index retreated -14.09 points to close at 3750.35.
Safaricom closed unchanged at 25.75 and traded 6.96m shares worth 179.237m which represented 70.434% of the total volume traded. Safaricom has been in a rock solid bull channel in 2017 and has returned +39.53% so far this year. 
Standard Group was high-ticked +8.33% to close at 39.00 and is an eye-watering +136.36% through 2017.
I&M Bank rallied +3.2% to close at 129.00 and traded 100,000 shares.
The Nairobi Securities Exchange rallied +4.285% to close at 18.25. The NSE is +24.57% in 2017. 
KenGen eased -0.55% to close at 8.90. KenGen will bottom out around here ahead of another aggressive run higher. Surplus shares were mopped up by PIC SA which remains a bullish price development. 
EABL traded +0.81% to close at 250.00 and transacted just 1,600 shares. 
It was a pleasure interviewing the MD of KenolKobil David Ohana on Friday and it is worth recalling that KenolKobil accelerated H1 revenue by an eye-popping +96.648% to clock 72.637710b. KenolKobil sits just below an all time high which I expect to be breached after having spoken with its MD, who was an Israeli Paratrooper before he began his career in oil and gas. KenolKobil closed unchanged at 16.55 and traded 85,200 shares. 16.95 is the all time high and a break through there will see a rapid run up to 20.00. 
FlameTree Group announced its acquisition of PolyPlay a major commercial playground equipment manufacturer and distributor. The acquisition is for an undisclosed amount and is subject to approval by The Competition Authority of Kenya. FTG Holdings closed unchanged at 4.90. FTG is -3.921% in 2017 but remains an outlier amongst its peer group listed on the GEMS market.

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