Stocks Watch

Here are the shares we will be closely watching in today’s trading at the Nairobi Securities Exchange:

  • AccessKenya Group – The technology company’s profit before tax for the six months to June has risen 15 percent to 87.9 million shillings from 76.5 million shillings in the same period last year while turnover has grown to 940.9 million from 852 million shillings.  We will watch the share today to see if the improved earnings will boost its price closer towards KES 5.5 per share which is the highest is has reached this year. The share closed yesterday at KES 4.90 having gained for a second consecutive day.
  • Standard Chartered Bank – The bank’s pre-tax profit for the six months to June has risen 86.9 percent to 6.47 billion shillings from 3.46 billion shillings in June last year. The share’s price has steadily risen this year, climbing from KES 151.60 in early January to a high of KES 201 per share reached in June and July. It closed yesterday at KES 191 having experienced one of its biggest drops of the year which saw it lose 4.50 percent of its price. We will watch the share today in light of the higher earnings announcement.
  • Co-operative Bank – The bank yesterday announced that profit before tax for the six months to June had grown 22% to 4.87 billion shillings from KES 3.99 billion shillings in the same period last year. The share has been on an overall decline this month, losing  5 percent to KES 11.05 so far. We will watch the share today to see if yesterday’s announcement will affect its performance.
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