At today’s trading at the Nairobi Securities Exchange, we will be closely observing the following share counters:
- Athi River Mining – Kenya’s second largest cement firm yesterday posted a 24 percent rise in pre-tax profit for the six months to June this year compared to 2011 according to the company’s official un-audited half-year results. On Tuesday last week the company’s shares fell to their lowest of KES 182.00 in more than two months before gaining continuously since Thursday to yesterday’s latest gain of 0.50 percent that closed the share at KES 201 from KES 200 on Monday. We will observe the counter in today’s trading to see what effect the improved profit announcement will have on the share’s performance.
- Barclays Bank – The bank’s shares yesterday climbed to their highest price in a one year period, gaining 1.79 percent to close at KES 14.25 from KES 14.00 at Monday’s trading. Commercial banks in Kenya are soon set to begin announcing their financial results for the six months to June this year, and this factor could be driving share performance in the banking sector of the NSE. We will keep an eye on the Barclays counter in today’s trading in light of this.
- Safaricom – Shares in one of Africa’s largest telecommunications companies fell from a one-year high yesterday, losing 1.28 percent to close at KES 3.85 from KES 3.90 which had been their highest price since April last year. We will observe the counter today to see whether this is just a temporary slump, or if the share will rally further like other blue chip counters are currently doing.