Stocks Watch, 27 April 2012

The NSE 20 share index yesterday closed at 3557.13 points, down 14.07 points (0.39%) from Wednesday’s trading. The NSE All-Share index also dropped points, down 0.08 points (0.10%) from Wednesday’s previous day’s trading to close at 77.12.

The shares to watch today include:

Kenya Airways: The KQ rights issue closes today at 3:00pm and it will be interesting to observe how the share trades.

Car & General: The company recorded the biggest gain in yesterday's trading, up 6.42% to close at KES 29. let's see if the share can maintain this upward movement.

Standard Chartered Bank: The bank announced that it is planning to have a rights issue to increase its authorised share capital (read more on that story here). Such an announcement will have a bearing on the share, with an increase in the share price.

Kenya Reinsurance Corporation: the company released its financial report for the period ended December 31st 2011 and announced a profit of KES 2.036 billion. This is 24% higher than the profit it reported over a similar period the previous year. It will be worthwhile to observe the effect this will have on the performance of the share.

Housing Finance: The mortgage financier released its first quarter financial results reporting an 11% increase in profits. It will be worthwhile to observe the effect this will have on the performance of the share.

NIC Bank: The bank released its first-quarter results and the share was one of the big gainers in yesterday’s trading, up 3.42% to close at KES 30.25 (see yesterday’s closing bell here).

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