Kenya | - Part 48

African Market Watch: Tuesday, 10th March 2015

Egypt: The Egyptian Exchange (EGX) slid on Tuesday, losing around EGP 1.3 billion of its capitalization as traders booked gains from most leading stocks. The benchmark index EGX30 shut slightly lower by 0.04% at 9709.5 points, while small and mid-cap index EGX70 lost 0.52% to 566.38 points. The broader index EGX100 ended 0.34% lower at 1132.29 points. Today’s turnover amounted to nearly EGP 2 billion, while traded volume reached 153.2 million shares and number of…

African Market Watch: Monday, 9th March 2015

Posted on by The Editorial Team

Egypt: The Egyptian Stock Exchange (EGX) indices ended on a mixed note on Monday as the benchmark index EGX30 added 0.78% to 9,713.61 points, while market capitalisation gained EGP 1.4 billion. The EGX70, which measures small and mid-cap stocks, inched down 0.28% to 566.38 points, while the broader index EGX100 gained 0.03% to 1,139.14 points. Today’s turnover amounted to EGP 667.5 million, while traded volume reached around 166.4 million shares sealed through 19,700 transactions. The…

Kenyan shilling weakens as traders meet dollar demands

Posted on by The Editorial Team

NAIROBI (Reuters) – Kenya’s shilling weakened slightly on Monday, with banks coming into the market to buy dollars to meet anticipated demand and square their positions.At 0750 GMT, commercial banks quoted the shilling at 91.25/35 to the dollar, compared to Friday’s close of 91.15/25 per dollar.”Guys have come in to take advantage of the lower rates to meet some of their demands,” said Martin Runo, a senior trader at Chase Bank.”Once the shilling started strengthening,…

African Market Watch: Friday, 6th March 2015

Posted on by The Editorial Team

Kenya: The NSE 20 Index dropped 37.83pts to close at 5,373.22pts. The NASI Index gained 0.23pts to close at 172.51pts with total market capitalization at KES 2,408mn. Market activities measured by volume and value traded were recorded at 36,466,000 shares and KES 1,062.271mn. The market sentiment was positive today, as the market breadth (advancer/decliners ratio) berthed at 1.7x with 25 advancers and 15 decliners. On the one hand, topping the price gainers list were Crown…

Kenya set for faster growth, says World Bank

Posted on by The Editorial Team

NAIROBI–Low oil prices and loose monetary policy in the U.S. have bolstered Kenya’s economy, East Africa’s largest, helping it grow faster than expected last year and setting it on course for sustained growth in the years ahead, the World Bank said in a report Thursday. The risk for sub-Saharan Africa’s fifth-largest economy is that international economic conditions won’t necessarily remain so favorable, given weak demand for goods in the eurozone, still grappling with slack growth,…

African Market Watch: Thursday, 5th March 2015

Posted on by The Editorial Team

Egypt: The Egyptian Stock Exchange (EGX) indices advanced collectively today as the benchmark index EGX30 added 1.21% or 115pts to close at 9575.98 points. However, the market capitalization has lost around EGP 1.1 billion ($143 million). Today, EGX indices rebounded on the return of the purchasing power, particularly the blue chip stocks, where the benchmark surpassed level of 9500 points. The EGX70, which measures small and mid-cap stocks, went up 0.90% to 566.52pts and the…

World Bank sees Kenya’s GDP growth at 6.0 pct in 2015

Posted on by The Editorial Team

NAIROBI (Reuters) – Kenya is due to become one of the fastest-growing economies in east Africa, with a growth forecast of 6.0 percent in 2015 and 6.6 percent in 2016, the World Bank said on Thursday, citing falling oil prices and bigger infrastructure investments. Kenya’s economy grew by an estimated 5.4 percent in 2014, the bank said in its latest economic update, while growth could accelerate to 7.0 percent in 2017. “After growing an estimated…

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