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September 26, 2018

Williamson Tea bullish at Nairobi bourse

Mindspeak host AlyKhan Satchu/FILE
Mindspeak host AlyKhan Satchu/FILE

 

Bitcoin tumbled below $6,500 for the first time since July.
Sterling sank below 1.2900.
Turkey continues to be on a knife-edge, the currency is down around 30% year-to-date.
“For us, Africa is definitely the place to be.” said the @abinbev CEO Carlos Brito. @ReutersUK
“We’re very excited about Africa because we have experience in Latin America and Asia. Some people look at Africa and see a lot of volatility, uncertainty. We see opportunity,” said Brito, who was visiting South Africa.
The Nairobi All Share surged +1.508% to close at 173.58.

The NSE20 Index rallied +31.02 points to close at 3321.06.

Equity Turnover clocked 477.239m and would have been higher if buyers could find the supply.

Williamson Tea firmed Sh4 to close at 174.00 and has had quite a run since announcing its financial year earnings and a handsome Sh20 final dividend.

Its sister Co. Kapchorua Tea also followed in its slipstream and rallied +3.42% to close at 90.50.

Safaricom rallied +1.7699% to close at 28.75 and traded 6.592m shares in a belated celebration around the return of its CEO Bob Collymore Esquire.

KCB Group spiked +2.05% higher to close at 49.75 on heavy volume action of 3.492m shares.

Housing Finance rose +1.265% to close at 8.00 and traded 1.753m shares. 

We learnt from the Business Daily that overseas shareholders owned 50.42 per cent as at the end of June of the NSE PLC compared to just 7.07 per cent at the end of first half 2017. The NSE surged +4.373% to close at 17.90 on odd lots with very little being sown on the sell side.

Ab Inbev announced plans in March to invest $100 million in a new $1 million hectolitre per year brewery in Tanzania, where beer volumes jumped by a fifth last year [Reuters]. This spike in beer consumption in Magafuli's Tanzania was confirmed in the financial year results released by EABL where Tanzania was an outlier where Tanzania accelerated +41% outperforming Kenya +1% and Uganda. EABL closed unchanged at 223.00 and traded 1,100 shares with buyers showing for 126 time the volume traded.

 KenGen [which I had mentioned yesterday was egregiously oversold] rallied +6.45% to close at 6.60 and the next pit-stop is 7.00.

 

 

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