Closing Bell – 17 May 2012
The NSE today had 15.24 million shares trading and closed with a market capitalization of KES 824.74 billion. KCB was the days biggest mover, 2.74 million shares exchanging hands and Transcentury Limited had about 1.79 million shares trading to come in second. CFC Insurance was the biggest loser, down 3.16%. Kenya Re was among the day's top gainers, gaining for the third consecutive day.
Kenya to Have New Currency by 2015
The country will have a new faced currency by early 2015, the Central Bank of Kenya has announced. The new currency will be a fulfilment of the requirements of the new constitution that among other things will come without an individual’s head on the face of the notes and coins. Article 231(4)…
Save Our Health, Increase Tax on Fatty Foods
This article on Sky News HD suggests that a 20% “fat tax” on unhealthy food and drink could help cut the number of people suffering from obesity and heart disease. It got me thinking, is increasing tax on fatty foods a solution to the rise of obesity in…
Yield on Government Securities Falls despite Weakening Shilling
Yesterday the Central Bank of Kenya (CBK) auctioned 182 day Treasury bills worth KES 2 billion. The CBK received 182 bids worth KES 3.34 billion but only accepted bids worth KES 1.94 billion. The security exhibited a subscription rate of 167%, following the oversubscription trend we have observed at previous…
Car & General: Good for Growth
Ever heard of the Car & General share? No huh? Well, it's there. And it's a good option for you if you're interested in buying shares.
PesaPortfolio – 17 May 2012
Below is a look at our PesaPortfolio using the prices of the various stocks as at the close of the Nairobi Stock Exchange (NSE): Share Market Segment Units Latest Share price (KES) Previous Price (KES) Current portfolio value (KES) Previous portfolio value (KES) Mumias Sugar Company Manufacturing and allied…
Kerosene Price Could Surpass That of Diesel
Proposal on the Finance Bill 2012 to withdraw special tax cuts could see kerosene pump price surpass that of Diesel. Last year, the government removed excise duty on kerosene to protect consumers from high prices and reintroduction of taxes will result in higher kerosene prices.
Nairobi Water Proving Unreliable
Nairobi Water Company is proving unreliable by the day. The company firsts announced that it will take up to five days to repair the Sasuma Dam supply pipe. Less than two days after the announcement, the five-day duration was extended to two weeks. To further express…
Stocks Watch – 17 May 2012
Today we pay particular close attention to NIC Bank, Car & General, KCB, Kenya Re and Olympia Capital Holdings. Here's why.
Forex Trail – 17 May 2012
Below is a table showing the currency movements between the Kenya shilling and major international currencies as well as the currencies of our neighbouring countries over the last two trading days, Tuesday 15th and Wednesday 16th May 2012. Currency US Dollars Sterling Pounds Euro SA Rand KES/USHS KES/TSHS KES/RWF Date…
Areas Expected To Have Water Today
Below is the water distribution schedule for affected upper zones of Nairobi, following damage on the Sasuma Dam Supply pipe. data sourced from Nairobi Water…
CIC Insurance to List on the NSE
CIC Insurance is set to list on the Main Investment Market Segment (MIMS) of the Nairobi Securities Exchange (NSE). The insurance company will offer 25% of its authorised share capital. According to Reuters, the Capital Markets Authority (CMA) has approved this listing by mid-June this year. The listing would…
Flights From Nairobi-Vietnam to Start
Emirates, one of the fastest growing international airlines in the world, continues its expansion into South East Asia with Ho Chi Minh City in Vietnam becoming the airline’s 124th destination. From 4th June, travelers from Kenya will be able to fly from Nairobi to the Vietnamese city via Emirates’ state-of-the-art hub…
Closing Bell – 16 May 2012
A summary of the day's on-goings at the NSE
Virgin Atlantic to Suspend Nairobi-London Route
A Virgin Atlantic Airbus A340 landing (Photo: Airplane Pictures) Virgin Atlantic has today announced it will withdraw operations between Nairobi and London on 24th September 2012. Increasing costs and a challenging economic environment during the past five years in both Kenya and Europe have contributed to…
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