Donald Trump welcomed President Uhuru Kenyatta to the White House on Monday for what is the only second one-on-one meeting the US president has held with an African leader since he took office last year.
The first meeting, with Nigeria’s ailing 75-year-old Muhammadu Buhari in April, ended with the US president telling aides he never wanted to meet someone so lifeless again, according to three people familiar with the matter. [Financial Times]
There is a wide-open opportunity for President Kenyatta to present himself as the African Interlocutor with respect to Africa and The White House, at this moment.
The S&P500 rose to an all-time high following the Fed Chair's remarks at Jackson Hole and the Nasdaq is also at a record high.
The Dollar has been biding its time Monday after Powell's Jackson Hole comments.
The Kenya Shilling is the second best performing currency in the world in 2018 and has appreciated by 2.4% year to date. @CytonnInvest is alluding to
The NSE is currently trading at a price to earnings ratio (P/E) of 13.8x and a dividend yield of 3.9%.
The Nairobi All Share slumped -1.65 points lower to close at 171.33
The Nairobi NSE20 retreated 36.89 points.
Volumes clocked just 270.347m.
EABL slumped to a 6 and a half year closing Low
Commercial and Services
Safaricom closed unchanged at 29.00 and traded 1.674m shares worth 48.165m. Safaricom is rock solid at these levels and will accelerate through 30.00 violently in due course.
Equity Group closed -1.00% at 49.50 and traded 3.154m shares worth 156.15m. Equity Group is +29.55% on a Total Return Basis in 2018 and reported a +17.408% H1 2018 EPS acceleration and the regional Subsidiaries gained serious traction increasing their profitability by 62% to Kshs 2.8bn in the first half of 2018. The model is portable and There is headroom.
DTB retreated -4.66% to close at 184.00 on light trading of 900 shares.
COOP Bank was sold off -3.614% to close at 16.00 and traded 281,100 shares.
Industrial and Allied
EABL sank -5.36% to close at 194.00 a 65 month closing Low. EABL traded 600 shares with Buyers seemingly on strike. EABL
KenGen closed unchanged at 6.55 and traded 147,700 shares. The Noise in and around the Energy Sector is allowing Medium Term Investors to pick up KenGen for a song at these levels.
Crown Paints rallied +9.027% to close at 78.50 and traded 3,600 shares. Crown Berger is -1.875% Year To Date.