In today’s trading at the Nairobi Securities Exchange, we will be closely observing the following share counters:

• Barclays Bank – The bank is expected to announce its half-year financial results today. These are highly anticipated as Barclays is one of the top banks in Kenya according to a 2011 Ranking of Kenyan Banks. Like other blue chip shares such as KCB and Equity Bank, the Barclays share has steadily rallied this year to date, gaining 18 percent since January. Two weeks ago, the share reached a one-year high of KES 14.40. It closed yesterday at KES 14.05 having gained 0.72 percent since Friday. We will observe the counter in today’s trading in light of the expected announcement.

• Kenya Re-Insurance Corporation – The oldest re-insurer in East and Central Africa is positioning itself to provide re-insurance cover to the emerging oil and gas industry in East Africa according to a statement by the company’s Managing Director Jadiah Mwarania reported in the Business Daily. Kenya Re has already engaged an Australian firm to provide expertise and training for underwriting in the sector, the report adds. Shares in the re-insurer have gained 4 percent since Friday emerging as top gainers yesterday. We will observe the counter to see of it gains further on the announcement of this new strategy that could bolster investor confidence.

• KenolKobil – The share looks to be gradually losing value after speculation on a lucrative takeover deal by Swiss-based Puma Energy  drove up the share’s price beginning mid-June to trade above KES 14 per share and as high as KES 16; a price range not witnessed in more than five years according to Bloomberg data. In the past two weeks the share has lost 1.85 percent, closing yesterday at KES 15.85 after dropping 0.63 percent. We will observe the counter to see if it  declines further today.

UPDATE:

•       Marshalls East Africa – Based on an advertisement in today’s Daily Nation, the car dealer is fully realigning to the KIA brand of vehicles away from TATA, Peugeot and Honda after years of marketing the latter brands. This comes barely two weeks after Mr. Kamlesh Pattni sold his 50.7 percent stake in the company in what has now turned into a controversial sale.  The share closed yesterday at KES 12.50 with no change since last week. We will observe the share’s performance in today’s trading in light of these new developments in the company.