Nasim Taleb has opined on the matter of bitcoin as follows;
''Bitcoin seems to fit a Stable Distr, cannot rule out Cauchy! note that this makes practically any price level possible: whether 100K or 100''
The African Export Import Bank (Afreximbank) will offer Zimbabwe $1.5 billion in loans to support its economic revival efforts and this will surely meet the requirement of the ''NOW''
The Treasury has taken up a new $750 million commercial loan from the Eastern and Southern Africa Trade and Development Bank (TDB) — formerly PTA Bank in order to retire a syndicated loan of the same amount.
The eight-year loan is priced at 6.7 percentage points above the prevailing six-month London Interbank Offer Rate (Libor).
The Nairobi All Share retreated 1.26 points to close at 172.88 making that a 1.77 per cent correction lower over 2 sessions since closing at a 35 month high on Monday.
The Nairobi NSE20 edged -4.46 points lower to close at 3706.37.
Equity Turnover was 958.031m.
Bharti Airtel is not denying reports that it is preparing to exit Kenya. Safaricom eased back -1.82 per cent to close at 27.00 and traded 19.073 million shares worth Sh518.394 million. Safaricom has corrected -3.57 per cent off a record closing high over two sessions.
Uchumi announced closure of its Nairobi branches on Wednesday to effect restocking.
All our Nairobi branches will remain closed on December 13, 2017 for restocking our shelves. All our staff will look forward to welcoming our valued customers back to our stores as we re-open for business on December 14, 2017,’’ read the statement.
The acting head of marketing at Uchumi Supermarkets Henry Bett on Tuesday told the Star that the retailer received Sh700 million on December 1, and that the cash will go towards restocking.
This news encouraged an +8.571 per cent rebound in the price which closed at 3.80 and traded 91,600 shares. There were Buyers for 8x the volume traded.
Kenya Airways pushed +0.84 per cent better to close at 17.90 and traded 595,600 shares.
Standard Group traded 4,800 shares all at 37.50 +7.15 per cent. Standard Group is +124.24 per cent in 2017 and a bull outlier at the securities exchange.
KCB Group firmed +0.6 per cent to close at 42.25 and traded 1.754m shares worth Sh74.413 million. KCB had 2.6 buyers for every seller and looks poised to probe higher. Equity Group closed unchanged at 40.25 and traded 1.246 million shares.
EABL firmed +0.44 per cent to close at 244.00 and traded 560,800 shares worth Sh137.38 million. EABL has underperformed the indices in 2017 and sits +3.073 per cent in 2017 on a total return basis.
KenGen firmed +0.8 per cet to close at 8.65 and traded 664,800 shares. It is +49.13 per cent in 2017 and trades on a trailing PE ratio of 6.313. With PIC lurking inthe wings on any reverse,the price is effectively underwritten just below here.
Kenya Power which announced a new incoming Chairman Mahboub Maalim Mohamed traded heavily to close unchanged at 9.50 with 6.153 million shares worth 58.448m changing hands. KPLC is +22.69 per cent on a total return Basis in 2017 and trades on a Trailing PE of 2.554. This haircut is noteworthy and has been in play for a number of years.
ARM rebounded +0.86 per cent off a 2006 low to close at 11.60 and traded 701,900 shares.