In today’s trading at the NSE, we will be observing the following counters:
- Athi River Mining – The cement manufacturer has made an agreement with Aldwych International, a power projects company, to install a coal-fired electricity power plant to improve gross margins and earn additional revenue streams through the sale of surplus electricity, a Business Daily report says. The share has gained more than 25% since January this year (Bloomberg) closing at KES 200 yesterday with no change since Thursday last week.
- East African Breweries – Yesterday the share closed at its highest price in more than five years, climbing 2.6% to KES 236 up from Monday’s close of KES 230. According to a report by Reuters yesterday, this price surge is attributable to anticipation of improved end year profits by the company following the sale of its shares in Tanzania Breweries (TBL) during the financial year ended last month.
- Barclays Bank Ltd – Barclays Bank Plc in London, the head of the global bank, is currently involved in scandal regarding the bank’s alleged manipulation of Libor rates. In the past two days, three of the bank’s executives have resigned according to a Bloomberg. We will observe the local Barclays counter today to see if any ripple effects affect the share’s performance.
- Kenya Airways – Analysts have expressed that KQ could face stiff competition in the airline’s planned entrance into the low cost airline carrier market in Africa within this financial year, a report in the Business Daily says. The airline’s share climbed for the third consecutive day, closing 1.05% higher yesterday at KES 14.50 up from KES 14.35 on Monday.
- Eveready East Africa Ltd – The share gained for a second time since June this year, closing up 3.03% at KES 1.70 from Monday’s close of KES 1.65 data from the NSE showed. The company appointed a new Non Executive – Independent director, Catherine Ngahu, according to an announcement dated 29th June on the company’s website.
- Crown Berger – Yesterday share was down 2.16% closing at KES 34 compared to Monday’s price of KES 34.75, the share’s highest price in more than one year, Bloomberg data shows. The company officially changed its name from Crown Berger Kenya Ltd to Crown Paints Kenya Ltd according to a letter dated 2nd June 2012 addressed to the Nairobi Securities Exchange.
- Safaricom – The local telecommunications leader’s share yesterday hit its highest share price since August 2011, climbing 1.39% to close at KES 3.65, Bloomberg data showed. Twelve million more shares were traded yesterday than on Monday.