At today’s trading at the Nairobi Securities Exchange, we will be closely observing the following share counters:
- Barclays Bank – The bank is expected to be announcing its half-year result for this year sometime this month. Last year, Barclays was ranked Kenya’s fourth biggest bank by asset base (Bankelele) and remains one of the fore-most banks yet to announce half-year results for this year after Equity and KCB announced theirs last week. The share has lost on four consecutive days after hitting a one-year high of KES 14.40 one week ago and closed yesterday at 14.10. We will watch the counter in today’s trading to see how it fairs in the midst of the half-year earnings to be announced soon.
- Rea Vipingo Plantations – Shares in Africa’s largest sisal fibre producer yesterday reached their highest price since December last year to close at KES 17.20 after gaining 0.88 percent. Rea Vipingo’s half-year profit before tax for the six months ended March this year increased 36 percent from the same period last year. The share has been on the rise this year, gaining 31 percent since January. We will watch the counter in today’s trading to see if it rallies beyond yesterday’s high.
- NIC Bank – After gaining on 7 consecutive days at the NSE, shares in one of Kenya’s fastest growing banks declined in yesterday’s trading to close at KES 36.75 from KES 38.75 on Monday. On August 27th this year, NIC will begin Kenya’s second biggest rights issue of this year targeted to raise 2.07 billion shillings to boost the bank’s ongoing strategic expansion.
Click here for a detailed breakdown of the NIC Rights Issue.