HENATES

NIGERIA Naira (Bureaux)                            31/10.           30/10 US$                    0.0028.        0.0028 Euro.                  0.0024.        0.0024 B£                      0.0022.        0.0022 SA Rand.          0.0402.         0.0409 Ch. Yuan.         0.0192.         0.0192 Can $                0.0036.         0.0036    KENYA Shillings.                               30/10.           31/10 US$                     101.7028.    101.8472 Euro.                   115.6731.    115.6163 B£                        130.3708.    129.9103 J Yen.                    90.7344.      90.2701 SA Rand.                 7.0186.        6.9888 Ch. Yuan.               14.6146.      14.6232 EGYPT  Pound                                31/10.          30/10 US$                        17.9095.     17.9092 Euro.                      20.3120      20.3251 B£                          22.8723.     22.8235 J Yen.   (100).      15.8330.     15.8079 Ch. Yuan                 2.5717        2.5687 Can. $     ...

On Tuesday, October 30 2018 all the 3 African stock markets daily monitored by Henates for now, headed down without exception although at different rates. GHANA STOCK EXCHANGE Ghana Stock Exchange on Wednesday October 30, recorded the highest rate of decline. Its Composite Index dropped by 1.08% to 2852.83 from Monday's 2884.12 which itself was down. According to figures obtained from the exchange, Access Bank Ghana did close the day up GHs 0.39 per share as 200 shares were traded at GHs 3.40 per share, this was no where near the downwards pressure applied by 7 price drops recorded. Lead declibe was that of Standard Chartered Bank down GHs 0.86 per share to last deal and close at GHs 21.80 per share while recording exchange of 2430 shares. Another major decline was by Ecobank Ghana which shed GHs 0.23 per share to close at new low of GHs 6.67 per share after recording last deal at GHs 6.68 per share. In the end, 14,600 units were exchanged. Ghana Commercial Bank to witnessed relati...

NIGERIA Naira (Bureaux de change)                 29/10.          30/10 US $        0.0028.        0.0028 Euro        0.0024.        0.0024 B£           0.0021.        0.0022 SA Rand 0.0399.       0.0402 Yuan.      0.0191.       0.0192 Can $      0.0036.       0.0036 KENYA Shillings .                   29/10.          30/10 US $        101.3233.       101.7028 Euro        115.4636.       115.6731 B£           129.8983.       130.3708 J Yen.       90.5684.         90.3744 SA Rand     6.9016.           7.0186 Yuan.        14.5843.         14.6146 TANZANIA  Shillings                       29/10.         30/10 US $         227892.21  227961.86 Euro.        258737.59. 259466.42 B£            291781.85. 292292.93 Ksh.              2249.36.     2241.51 UGANDA.  Shillings                         29/10.            30/10 US$               3760.33.         3760.29 Euro.             4279.42.         4270.28 B£                  4819.08.        4820.88 Ksh.                    37.10.            36.92...

On Monday October 29, 2018 the new week started with at least one major tumble in price except at Nigerian Stock Exchange of the 3 African stock markets monitored daily by Henates. NIGERIAN STOCK EXCHANGE At the Nigerian stock market on Monday October 29, most price changes were low key but the All share index rose by 0.88% to 33,196.07. Even, the margins of gain were still higher. Lead gain was N3  per share by Stanbic IBTC as 22 deals were struck for 1.487m shares worth N68.229m. Stanbic closed at day high of N49 per share after hitting a low of N45 and compared to N46 per share on Friday. It was trailed by the duo of Dangote Cement and GTB with N1.5 per share price increase each. DangCem recorded 55 deals for 2.304m shares valued at N479.826m while GTB closed with 254 deals involving day high traded value of N1.066bn and 2nd highest 28.284m shares. DangCem ended the day at high of N212.5 per share after touching day low of N208 and as against N211 per share on Friday while GTB found...

From the figures released by the CEO of Kenya Electricity Generating Co plc, Mrs Rebecca Miano recently for the full year to June 2018, the sands shifted slightly under the company within the period. It takes some closer scrutiny to notice it but what is clear was that profit margin within the year eased to 24.2% from 25.1%. Gross direct revenue had increased by 11.2% to Ksh 45,289.7m from Ksh43,431.9m in 2017 year leading to total income growth of 6.23% to Ksh 48,505.9m from Ksh 45,661.6m. There was 150.6% increase in finance income to Ksh 3,341.4m, so the reduced growth in total income came more from huge drops in Other income, down 50.3% to Ksh 274.8m and loss of Ksh 1049.9m from activities Ken Gen netted Ksh 343.3m income in 2017. It was as a result of these drops, that net operating revenue declined by 0.6% to Ksh 35,108.5m before the strong growth in finance income came in very handy. But only Other Expenses and finance cost grew less than the total income growth amongst overhead...

Last week ended Friday October 26, 2018 was dominated by equity price drops not only in terms of number, but also in terms of trading days of the week. In all the 5 days of the week, only Thursday October 25, ended with a harvest of price gains, every other day was either all drops or predominantly so. On Thursday, all 5 gains recorded were gains led by Total Ghana's GHs 0.16 per share ;  on Friday, Wednesday and Monday all price changes were down while Tuesday closed with just one price gain out of 10 price changes. In the end, only 2 equities ended the week with gains out of 14 price changes recorded. Total retained its gain till the end just like MTN Ghana which gained GHs 0.01 per share on Thursday and retained this on Friday. Top decline was by Ecobank Ghana as it went down each day except Thursday and so, cumulatively, ended GHs 1.05 per share down. It was closely followed by Standard Chartered Bank down GHs 1 per share from GHs 0.94 and 0.06 per share decline on Tuesday and ...

It was a mixed grill last week ended Friday October 26, 2018 at the Nairobi stock market as the All share index dropped by 0.36% to 145.80 and trading hit record levels, at least according to figures released by the Exchange. The ASI started the week on Monday down to 146.21 from 146.33 then eased further to 145.64 on Tuesday and 144.29 by Wednesday. Then, just as it was looking like ending the week down sharply the ASI recovered to 145.77 on Thursday and inched further upwards to the Friday close. Somehow, the wonder is that the ASI barely declined because price drops outnumbered gains within the week with higher margins too. Top decline was Jubilee Holdings Ksh 22 per share drop after it shed Ksh 28 per share on Monday and regained Ksh 3 pee share each on Thursday and Friday. Limuru Tea lost Ksh 12.50 per share after losing Ksh 20 on Tuesday, regaining Ksh 13 the next day Wednesday then going down again Ksh 5.50 per share on Thursday. Two other major drops were Standard Chartered Ban...

Remember the  few controlling the most in an economy? Well, it played out clearly last week at the Nigerian Stock Exchange. According to figures released by the exchange, there were 45 price losers and 26 gainers at the end of week when compared to previous week's close. But you know what?  The All share index which attempts to reflect the overall impact of price changes in the market, closed up 0.2%, not down with the crowd of downward price changes. It ended Friday October 26, at 32,907.33 compared to 32,841.69 the previous Friday. Sure, for two days within the week, (Wednesday and Thursday) it looked like the ASI was headed down but Friday rally by 1.11% put paid to that. The bounce back Friday was paced by Dangote Cement up N10.5 or 5.74% as it closed at day high N211 per share but in the end, this helped to reduce net pressure the equity had been putting on ASI downwards. Hence, top gainers for the week turned out to by Seplat Petroleum, up N29.90 per share, Total Nigeria N15 ...

At last, after closing down daily since this week, the all market indices at both Nairobi and Ghana stock markets rallied on Thursday October 25, 2018. NAIROBI SECURITIES EXCHANGE. At the Nairobi stock market on Thursday October 25, there were equal number of price gainers and losers and so, the rally in the All share index was mainly a product of higher margin of gains by equities with equally higher weights in the valuation basket. Leading gain was by British American Tobacco, up Ksh 20 per share as it closed at Ksh 600 per share compared to Ksh 580 on Wednesday. This was while recording deals for 5,500 units. Diamond Trust Bank too had a double digit price leap, up Ksh 13 per share as it hit day high of Ksh 159 per share, then a low of Ksh 150 and closed at Ksh 158 per share, as against Ksh 145 previously. Other major price gains were Jubilee Holdings' Ksh 3 per share;  and Ksh 1 per share top up by Bamburi Cement. Limuru Tea on Wednesday paced price gains with Ksh 13 per share ...

More like a reminder of the unexpected offload recorded at the Nairobi stock market earlier in the week, a total of 322.948m shares of FCMB Group was  offloaded on Wednesday and Thursday this week at the Nigerian Stock Exchange. On Wednesday, FCMB recorded offload of 142.696m shares in day high 342 deals worth N222.123m while closing down N0.04 per share. Come Thursday, October 25, another 180.252m of its shares were exchanged in lower 207 deals worth N279.646m. Thus in 2 days trade worth N501.769m or 1.6% of FCMB's N31.288bn market capitalisation was recorded involving less than 2% of its issued capital. Earlier on Monday and Tuesday, smaller parcels had also been traded. This was 15.5m on Monday and 27.551m shares on Tuesday bringing its total volume since the week to 365.948m shares. The last deal recorded on Thursday was for 90,000 units at N1.58 per share and FCMB thus closed up N0.03 per share at the end of the day. This price is closer to its year low of N1.02 than its year ...

Of the 3 stock markets monitored by Henates daily the Nigerian stock exchange reversed itself on Wednesday October 24  while it was downwards for both Nairobi and Ghana stock markets. NIGERIAN STOCK EXCHANGE At the Nigerian Stock Exchange, the All share index went down 2.37% to 32,403.60 after rallying 0.69% on Tuesday. The interesting thing was that in both cases price changes by Nestle Nigeria and Dangote Cement made the difference. On Tuesday, Nestle gained N30 per share and Dangote Cement rose by N4.5 per share to together drive the All share index upwards. Come Wednesday, however, the reverse was the case as Nestle lost all it gained on Tuesday and Dangote Cement went down by much more than it earlier gained (down N14.5 per share) to now drive the ASI downwards. In the process Nestlé recorded 20 deals for 0.07m shares worth N96.341m while Dangote Cement closed with 46 deals for 0.307m shares valued at N62.734m. Unlike Tuesday, though, Unilever Nigeria applied its own shoulders to ...

Tuesday,  October 23, 2018 turned out to be a day of the unexpected at the 3 stock markets currently monitored by Henates day. GHANA STOCK EXCHANGE On Tuesday, October 23, 2018, the unexpected was harvest of price drops as all 10 price changes recorded were drops. Top decline and perhaps the most interesting was Standard Chartered Bank's GHs 25.06 per share close, down GHs 0.94 on previous GHs 26 per share and after declining by only GHs 0.50 per share to record its last deal for the day at GHs 25.50 per share.  Exchanged were 2820 of its shares and SCB closed on bid at GHs 25.50 and on offer at GHs 26 per share which tends to give the impression that its closing day low was a misnomer. Fan Milk's GHs 0.20 per share decline was more straight forward as 1000 shares were traded at GHs 12.10 compared to GHs 12.30 per share on Monday. The one of Ecobank Ghana was on the level too with 9500 units changing hands at GHs 7.04 per share, down GHs 0.13 on opening GHs 7.17 per share. It c...

According to a quarterly survey on inflation attitude in Nigeria conducted last quarter by the Central Bank of Nigeria, most Nigerians have no idea who fixes interest rates in the country. The survey, says the CBN, has been conducted every quarter since June 2009 by its Statistics Department and quarter 3 2018's own was conducted from September 28 to October 4 this year. It involved 1770 households randomly selected from 207 Enumeration Areas across the country and response was 96.9%. They were asked a set of 7 questions and given options to choose from in reply. To the question which group meets to set Nigeria's monetary policy, only 21.4% rightly said it was the Monetary Policy Committee of the CBN. The rest, 78.6%, said it was the government (20.8%), ministry of finance (9.7%); National Assembly (4.3%), Others (2.5%) and don't know (41.3%). In quarter 2 and 1 surveys, 27.6% and 24.7% got it right respectively and 38.3% and 41.9% had no idea in the two surveys. Indeed, ex...

The rather low trade at Ghana Stock Exchange continued Monday October 23, raising the prospects of another dull week but it was a bit different at both Nigerian and Nairobi stock markets  NIGERIAN STOCK EXCHANGE At the Nigerian stock market, the new week took off on a positive note all round as all indicators pointed upwards. The All share index rose by 0.37% to 32,962.82; traded volume closed at 257.919m shares compared to 212.649m on Friday; number of deals came to 3178 from 2385 and above all, traded value more than tripled to N4.95bn from N1.456bn. There was NP reason for the ASI to close otherwise. There were 17 price gains compared to 16 drops and with higher margins of gain to boot. Seplat Petroleum, the 2nd highest price equity, led gains with N29.9 or 4.86% leap as it found and closed at N644.9 as against N615 per share previously. However, Seplat recorded only 2 deals for 0.100m shares worth N64.674m. It was followed by Unilever Nigeria with N3.6 or 8.20% per share increase w...

 Nigeria's Asset Management Company, ( AMCON) since its creation has acquired N1.7trillion toxic loans from Nigerian banks and it is easy to see  the banks in the country that are giving it the most headache. AMCON was set up through an Act passed in 2010 purposely to buy up toxic loans aka non- performing loans from Nigerian banks to save any from collapsing under the weight of non performing loans. According to AMCON, to date it has acquired 12,537 such loans or otherwise called Eligible Bank Assets ( EBAs) across the country. Top of the list in terms of number of toxic loans so far acquired was United Bank for Africa with 3826 or 30.5% of the total followed by defunct Intercontinental Bank (1735 or 13.84%); Enterprise Bank (1062 or 8.47%) and defunct Oceanic Bank with 783 or 6.25%. The least in terms of number were Stanbic IBTC with only 12 or 0.1% purchased so far; Zenith Bank with 18 or 0.14% ; Access Bank with 43 or 0.34%; Diamond Bank (83 or 1.47%) and ...

Last week ended Friday October 19, 2018 was rather a dull one, if not depressing, at the Ghana Stock Exchange as decline was all there was except on Wednesday October 17. The Ghana Composite Index went down 0.08% to 2974.02 compared to 1.71% rise to 3006.86, the previous week just as traded volume tumbled by 40.2% to 840,145 shares from 1.405m previously. Indeed, the surprise was that the GCI closed down marginally because price drops dotted each day except Thursday when SIC Insurance lone ranged with GHs 0.02 per share gain and Wednesday when all but 1 out of 4 price changes were gains. Even then, SIC still ended the week firm on previous week's price because it simply gained the GHs 0.02 it shed earlier on Tuesday and Access Bank ended GHs 0.03 per share down despite gaining GHs 0.47 on Wednesday since it lost GHs 0.50 per share the next day. Top decline was by Total Ghana with GHs 0.71 per share decline it shed on Thursday and closed the week with. This was followed by Republic ...

Last week ended Friday October 19, 2018 was one that will be hard to forget easily at Nairobi Securities Exchange because all market indicators closed on the go. The All share index rose by 1.44% to 146.33 despite so many price drops; traded volume leapt by 181% to 130.380m shares  for traded value up 134% to Ksh 2.676bn in 5900 deals, up 16.6%. The week had started with the ASI crumbling to 141.78 from previous week's closing 144.25 but it rallied by Tuesday and continued to inch upwards daily till the end. But , some credit must go to what happened to Safaricom within the week not only in terms of its usual leading volume and value but more importantly as price discovery struggles led to its daily price changes that culminated in Ksh 0.75 per share gain at the end of the week. It made some difference especially as many other equities like Williamson Tea, Equity Group, KCB Group, Nairobi Securities Exchange, East African Breweries, Centum Investments and Kenya Reinsurance also had...

At the Nigerian Stock Exchange last week ended Friday October 19, 2018 was one top weighted equities dictated virtually every pace except for traded volume.  The All share index closed the week at 32,841.69, up 384.71 points or 1.19% but not because price changes were mostly positive. Infact, the opposite was the case because by Friday, 42 price drops through the week had been recorded against just 18 gains. The big deal was that top weighted Dangote Cement closed exceptionally up by N10 per share after going and down through the week closing Friday itself up N4 or 1.94% per share to pace price gains. Every other price gain by week's close turned out to be below N1 per share with Zenith Bank leading with N0.70 per share. On the contrary, all top 5 price drops were above N2 per share. Nestle Nigeria tumbled N30 or 2.14% per share on Friday to lead all week drops followed by Seplat Petroleum down N15 per share; Beta Glass with N7.80 per share, and the duo of CAP Plc and Julius Berger...

Of 3 stock markets monitored by Henates, the one at Nairobi recorded a surprising offload on October 18 2018 but at Nigerian, not so rare ones too. NAIROBI SECURITIES EXCHANGE At the Nairobi stock market, a rare 27.888m shares of Ken Kobil in the Energy and Petroleum sector at GHs 13.60 and 14.70 per share for Ksh 409.9m. This singularly drove traded value of the sector to Ksh 414.9m or 48.30% of the day's Ksh858.748m recorded at the end of the day. Other major trades in the sector were Kenya Power and Lighting's deals for 367,600 shares and Ken Gen's 354,700 shares. In the process, Kobil rose by Ksh 0.30 per share to join 20 price gainers that pressurised the All share index up 0.03 points to 144.73 against the pull of 18 price drops. The Kobil offload pushed traded volume to 45.789m shares from the 14.003m recorded on Wednesday although number of deals struck dropped to 1157 from 1198. Crown Paints paced price gainers with Ksh 5.50 per share increase as it hit day high of...

After Tuesday's show of strength, there was about turn at the Nigerian stock market on Wednesday October 17 but less so at Ghana and nothing like that in Nairobi. NIGERIAN STOCK EXCHANGE On Tuesday, Dangote Cement had joined other price gainers to humble price losers led by Seplat Petroleum by driving the All share index up. However, on Wednesday, Dangote Cement did an about turn, losing the same N5 per share it gained on Tuesday as it closed at N200 per share after hitting day high of N201 compared to N205 on Tuesday. This was while recording 77 deals for 2.286m shares worth N457.385m and Seplat Petroleum was on hand to lend a helping hand. Like DC, Seplat ended down N5 or 0.81% per share as it closed at N615 per share as against N620 per share previously while closing with 30 deals for 0.144m units valued at N88.977m. Other major price losers were CAP Plc, down N2.05 or 6.21% per share; and UAC of Nigeria with N1 or 9.09% drop per share. In contrast, no top 5 price gainer topped ...