The Iranian rial plunged to a record low against the U.S. dollar on the unofficial market on Sunday. The dollar was being offered for as much as 87,000 rials, compared to around 75,500 on Thursday, the last trading day before Iran’s weekend, according to foreign exchange website Bonbast.com, which tracks the unofficial market. The US and its allies have already signalled they will pursue a coercive, financial warfare strategy with respect to Tehran.
Chinese stocks closed at a Feb 2016 low and on the cusp of a bear market.
Bitcoin touched 5,800 and a 2018 low before recovering to trade at 6,150.00 last.
Broken parabolas typically collapse in phases with blistering rallies in between. Bitcoin is among the canaries in the coalmine of temporary speculative "wealth" born of deranged monetary policy. Already at a third of its peak, losing another 50 per cent would be nothing (re Bitcoin and via @hussmanjp).
The combined market cap of the 20 largest crypto coins at the end of 2017 is down over $290 billion year-to-date, a decline of 57 per cent.
WTI Crude Oil surged Friday in the aftermath of the OPEC meet.
Two attacks one in Addis Ababa and one in Bulawayo caught the World's attention.
“Love always wins. Killing others is a defeat. To those who tried to divide us, I want to tell you that you have not succeeded.” said PM Abiy Ahmed.
''Let us continue to be united and address our differences peacefully. The strongest response to violence is peace. The strongest response to hate is love,” Mnangagwa’s statement read.
The first quarter of 2018 was characterized by increased Eurobond issuance, with a total of $10.7 billion being raised in Africa in the period, compared to a pro-rated $4.5 billion raised in Q1’2017. via Cytonn.
Kenya’s Capital Markets Authority has put on a watchlist a number of listed companies that are facing liquidity and corporate governance issues, with the possibility of suspending and eventually delisting them from trading.
The EastAfrican has learnt that at least eight firms listed on the Nairobi Securities Exchange are facing liquidity and corporate governance challenges that have seen their earnings drop significantly.
The Equity Market was thinly traded.
Safaricom firmed +0.88% to close at 28.50 and traded 2.724 million shares worth worth 78.216 million. The Supply side was thin signalling 30.00 is very ''gettable'' in the near term. Buyers outpaced sellers by a ratio of 2.5 to one.
KCB Group shaved off -1.55% to close at 47.50 and traded 733,000 shares. KCB trades on a PE Ratio of 7.387.
Centum was a bright spot and rallied +2.684% to close at 38.25 and was trading session highs of 39.00 +4.7% at the finale. Centum traded 349,300 shares with buy side demand for 16 times the volume traded at the finale. Centum reported a -63.769% slide in financial year earnings per share. Some that earnings suppression was due to a sale of GenAfrica not being effected in the reporting period.
KenolKobil closed unchanged at 18.00 and traded 2.302m shares worth 41.446m. KenolKobil is +32.857% on a total return basis in 2018 and trades on a PE Ratio of 10.778.
KenGen eased -0.71% to close at 7.00 and traded 237,800 shares. KenGen's share price lags the business validation via JICA, AFD and others.