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February 20, 2019

Safaricom shares hit Sh30

The Safaricom scratchcard.Photo Elkana Jacob
The Safaricom scratchcard.Photo Elkana Jacob

The Pound surged close to a big figure on the international Foreign Exchange markets and was last trading at 1.4042 versus the Dollar after reports the EU and Britain reached a deal over a Brexit transitional period.

President Putin predictably won a thumping victory which will extend his total time in office to nearly a quarter of a century, until 2024, by which time he will be 71. Only Josef Stalin has ruled for longer.

Putin said it was 'nonsense' to think Russia would poison a spy in Britain.

“As for the tragedy that you mentioned, I found out about it from the media. The first thing that entered my head was that if it had been a military-grade nerve agent, the people would have died on the spot.”

The group of tech stocks (FB, AMZN, NFLX, GOOGL, MSFT, AAPL, and NVDA) is up 23% on average this year and 69% over the last 12 months.

Rocket Internet is seeking to IPO Jumia. Jumia saw its adjusted loss before interest, tax, depreciation and amortisation widen to 80.7 million euros in the first nine months of 2017. Revenues edged up to 57.3 million euros.

The Feb Eurobond issues saw yields on the 10-year and 30-year Eurobonds decrease by 20 bps and 10 bps to close the week at 6.8% and 7.8%.

Any further rally might encourage the Treasury to tap both Bonds.

The Nairobi All Share ramped +1.39% higher to close at a fresh record of 186.65.

The Nairobi NSE20 rallied +38.29 points to close at 3840.08.

Equity turnover exploded to clock 1.928b which verified the bull price action.

Safaricom firmed 1.69% to regain an all time closing high of 30.00 and traded 11.055m shares.

Standard Group reported a full year loss after tax of [210.838m] versus a profit after tax of 198.521m. Full year revenue declined -3.278% to register 4.657b and the dividend was skipped. In the accompanying commentary Standard said;

"Group's turnover decline was mainly due to reduction in print advertising revenue by 17% occasioned by business uncertainty during the electioneering period. Broadcast division revenue growth +16% Group's operating costs increased by 12% driven by an increase in direct and overhead costs by 4% and 20% respectively, due to increased cost of election coverage during the period, increase in libel and bad debts provisions, marketing costs incurred during the newspaper redesign process and professional fees."

Standard Group did not trade and is -8.108% in 2018.

Nation Media closed unchanged at 102.00 and traded 27,100 shares. NMG is -12.068% in 2018.

Equity Group surged +3.92% to close at 53.00 a three-year high and on heavy volume action of 8.492m shares worth 451.404m. Equity is up an eye popping +33.33% in 2018 ahead of its full year 2017 earnings release.

KCB Group rallied +1.96% to close at 52.00 a 31-month high and traded 6.487m shares worth 338.808m. KCB Group has ramped +21.63% higher in 2018.

Diamond Trust Bank rallied +1.860% to close at 219.00 and traded 1.699m shares worth 373.118m. DTB is +14.0625% in 2018.

Barclays Bank rallied +2.092% to close at 12.20 a 23 month high and traded 2.083m shares. Barclays is +27.083% in 2018 and launched its Timiza App [Swahili for “Achieve”]Friday which targets 5m new customers.

Stanbic Bank followed on Fridays +7.19% gain to rally a further +2.79% to close at 92.00 and traded 59,000 shares. StanBic is +13.58% in 2018.

The NSE Kenya reported FY 2017 Earnings, where FY Operating Income expanded +10.466%, FY PAT +17.555% and earnings per share expanded +16.901% to 0.83 and the Dividend was hiked +11.111%. The 16.9% year-on-year increase in EPS was predominantly driven by growth in equity turnover (17% y/y). The NSE's Earnings are absolutely correlated to Turnover. The company intends to launch the derivatives market as well as promote newly launched products like ETFs and REITs. The NSE firmed +1.25% to close at 20.75 and traded 568,000 shares. The NSE is +5.32% in 2018.

BRITAM EA traded 1.844m shares and closed 10cents better at 12.10.

Carbacid reported half year earnings where H1 earnings per share registered a +1.563% expansion. Turnover declined -6.415%, profit after tax rose +0.374% to clock 164.983m. Carbacid said ''Turnover for the first six months of the year reduced by 6% compared to the same period last year due to lower demand in local markets'' And that ''Regulatory changes arising from mining royalties and county Government's demands and expectations continue to pose new challenges to businesses and operations.'' Carbacid eased -0.42% to close at 11.75 and traded 1,000 shares. Carbacid is -3.703% in 2018.

KenolKobil continued its winning ways and closed +2.88% at 17.85 and traded 833,600 shares. KenolKobil is +27.5% in 2018.

Bamburi Cement was heavily traded with 1.00m shares changing hands at 182.00 unchanged.




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