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0930-1500 KENYA TIME
Normal Board - The Whole shebang
Prompt Board Next day settlement
Expert Board All you need re an Individual stock.

The Latest Daily PodCast can be found here
http://www.rich.co.ke/rctools/richpod.php

The Star weekly Piece Market Swoon
http://bit.ly/b4NJeL

The Synovate Digital Divide Report can be found here
http://bit.ly/99AxoK

Its a Hyper Growth Curve. 2m Facebook Users. Worth a Read. Internet
squeezing TV.

Macro Thoughts

Sort of Focussed on Sterling.

Home Thoughts

Have you ever read Emily Dickinson ? The New Yorker
http://bit.ly/98R42M

One of her great first stanzas, for example, “Wild nights—Wild Nights!
/ Were I with thee / Wild nights should be / Our luxury,”

The popular image of Emily Dickinson—that of the winsome recluse in
white, trapped in an airless Yankee spinsterhood—has never been
compelling or particularly plausible. Even a quick survey of her
poetry reveals deep reserves of passion, not only in some ethereal,
“bookish” sense, but in worldly, though slightly eccentric, terms as
well.

What went wrong? In January 2009, Barack Obama took power in a nation
that overwhelmingly yearned for him to succeed. He was a fresh face,
eloquent, thoughtful, plainly intelligent. On Capitol Hill, his party
had massive majorities. All of that remains true. Yet, just 13 months
later, America is in about as foul a mood as when George W. Bush
reached his nadir.Most parties that win the White House lose seats at
the next mid-term elections. This November though, Democrats are
bracing for a wipe-out that could conceivably see them lose control of
both House and Senate, as the independent voters who, in November
2008, bought Obama's message of change and renewal abandon him in
disillusioned droves.

The man they thought was an outsider has behaved like the
quintessential insider. He and his administration talk tough about
Wall Street, but after their near-death experience the banks are
paying bonuses as they did in the locust years. Instead of bringing a
fresh broom to Washington, Obama has deferred to the crusty old barons
of Congress. He promised a new era of unity. Instead, the system is so
gridlocked by partisanship that some call the country ungovernable.
And then there's the healthcare morass.

However the big lesson of the Obama presidency thus far is the
opposite. Intelligence, eloquence and sweet reason alone are not
enough in politics. Yes, it seemed that way to voters when they chose
a successor to the dogmatic, tongue-tied and defiantly
anti-intellectual Bush. Obama was the most politically inexperienced
person to become president in a century, but in 2008, a majority of
Americans either overlooked that fact or saw it as a positive virtue.
Obama, they thought, would summon what Abraham Lincoln called "the
better angels of our nature".

Conclusions

When You serve as a Blank Screen and You own a wonderful Turn of
Phrase, the Campaign might well be the Apogee of the Political
Journey. However, in that circumstance, the Folks can just as well
turn off because things are Binary. I think the last things Folks
signed up for was the 'Quintessential Insider.' The President set the
Bar High with his Rhetoric everytime and then cut the Deal a lot lower
and like a Limbo Dancer. His Handlers have such a poor understanding
of the Value of his Poilitical Capital, they have sprayed it about
like Confetti and there might come a day when there will be nothing to
spray around. Its a Wake Up Call of Monstrous Proportions.

The Problem was in many ways how the Banks were handled and the Flip
Flopping [These Folks did not even bother to make it to the White
House when they were summoned] has compounded the Problem. The
Administration have looked like Bag Men at a time when Unemployment is
sky high, its been Poor Politics.

The President has to show He is President because if he cannot then he
just is not in charge. He needs to get Paul Volcker as his Chief
Plenipotentiary when it comes to Finance. I guarantee no Banker would
have the gumption to ignore him or his Dinner Invitation. He needs to
make a few Heads Roll. Emmanuel's Bi Partisan Cut a Deal around a
Poker Table Strategy is laughable. Its not working.

Aly-Khan Satchu
www.rich.co.ke

Gordon Brown repeatedly shouted at Tony Blair “you ruined my life” in
a showdown that led to the former Prime Minister leaving 10 Downing
Street, it was claimed last night.Mr Blair described the confrontation
to aides later as “ghastly” and “terrible”, according to leaked
extracts of Andrew Rawnsley’s new book, which claims that Mr Brown was
implicated in the 2006 coup attempt to topple his predecessor.

The allegations came as Mr Brown’s relationship with his most senior
Civil Service and political colleagues came under renewed scrutiny.
Sir Gus O’Donnell, the Cabinet Secretary, said that he repeatedly
spoke to Mr Brown about how to get the best out of his civil
servants.The Prime Minister held clear-the-air talks in private with
Alistair Darling before denying in public that he had ever sanctioned
hostile briefings against his Chancellor.

“Who do you think is better than me? Do you think there is anyone who
is better than me?” it quotes Mr Brown as saying.

Gordon Brown shouted 'you ruined my life' at Tony Blair The Guardian
http://bit.ly/9iRs3W

In the middle of the coup, the former welfare minister Frank Field
went to No 10 to plead with Blair not to give way to Brown. "You can't
go yet. You can't let Mrs Rochester out of the attic," he said.
Rawnsley writes: "Blair roared with laughter."

Euro 1.3461 Bernanke made soothing comments related sell off but all
now reversed.
Dollar Index 81.08
Pound 1.5336 Breaking down
Higher Beta Currencies
Aussie 0.8875 Could not keep a grip on 0.90+
Rand 7.7315
Real 1.8223

The British pound may fall below parity with the euro and drop to
$1.05, the lowest level against the dollar since the mid-1980s, if the
government tackles the country’s debt burden too early, UBS AG said.
“It would not be hard to envisage a scenario of the pound falling
quickly back to its mid-1980s low of $1.05 and below,” Mohi-Uddin
wrote. “Similarly, the euro could easily overshoot parity against
sterling if premature fiscal tightening drove the U.K. economy back
into recession.”Gordon Brown’s government is selling a record amount
of debt to finance the Group of 20 nations’ largest budget deficit,
which is equal to more than 12 percent of gross domestic product.
Spending unexpectedly exceeded revenue by 4.3 billion pounds in
January, the government said last week.

The pound was little changed at $1.5424 as of 1:30 p.m. in London, and
fell 0.4 percent to 87.89 pence per euro. It has dropped 4.5 percent
against the dollar this year, and gained 0.9 percent versus the euro.

Conclusions

Thats the Outlier Risk and just because we have not had such an
Outcome until now does not make it less likely but actually more
likely.

The Absolute Rout Risk is very high.

1-Year Note*    -0/32    0.314
2-Year Note*    2/32    0.867
3-Year Note*    1/32    1.407
5-Year Note*    -1/32    2.355
7-Year Note*    -0/32    3.121
10-Year Note*            3.693

The yield premium that investors demanded for holding Greek 10-year
debt instead of euro-zone benchmark German bunds rose to 3.44
percentage points from 3.35 percentage points late Tuesday, and are up
by some 0.20 percentage points since Monday's close.

Put another way, Greek 10-year bonds yielded around 6.57%, more than
twice the 3.13% level of 10-year German bunds.

Conclusions

Bernanke soothed the Interest Rate Curve but the European Periphery is
firmly in the cross hairs and extrapolating from there, I end up in
the United Kingdom.

When Walt Disney Co. asked publisher Dan Vado to make a series of
comic books based on its Haunted Mansion theme-park ride, he worried
that the empire built on the likes of Snow White and Tinker Bell would
reject his brand of creepy humor. Vado gave Disney skeletons dangling
from nooses, scattered corpses and a ghostly poodle that says “crap.”
To his surprise, Disney signed off on his vision. Disney Chief
Executive Officer Robert Iger, 59, is on a spending spree at the
world’s biggest media company to transform his film studio, amusement
parks and stores. In fiscal 2009, net income at Disney fell 25 percent
to $3.3 billion -- the worst annual performance in Iger’s five-year
reign -- and was almost flat in the first quarter of 2010 compared
with a year earlier.

Iger is pouring billions into attracting a new generation of kids --
boys especially -- raised on violent video games and reality shows.In
December, Disney completed its $4.3 billion purchase of Marvel
Entertainment Inc., home of Iron Man, Spider-Man and the X-Men, paying
a 40 percent premium over the stock price. The company is now building
two additional cruise ships, one of which includes an AquaDuck water
coaster that plunges four decks. Park guests will see more-complex,
life-size electronic robots made to look like U.S. presidents and
Disney characters. And with input from Apple Inc. CEO Steve Jobs,
Disney’s largest shareholder, Iger is giving his 350 retail stores a
high-tech makeover and opening a new one in New York’s Times Square in
the fall.

The total price tag for all of the upgrades through 2014: more than
$12.3 billion, according to New York-based Soleil Securities Corp.
analyst Alan Gould, a 59 percent increase over the prior five years.

After Iger took over in October 2005, the stock rose 53 percent to a
seven-year peak of $36.30 in May 2007 before crashing in 2009 during
the credit crisis to a low of $15.59. From that bottom last March
through Feb. 23, the shares jumped 98 percent to $30.92, beating the
Standard & Poor’s 500 Index gain of 62 percent but lagging behind
rival News Corp.’s 164 percent rise.

Iger, who came to Disney in 1996 as part of the company’s $19 billion
purchase of Capital Cities/ABC Inc., has proved to be a serial
acquirer. Three months after taking the helm as CEO, he agreed to pay
$7.4 billion for Pixar, which was co-founded by Jobs, to improve
Disney’s flagging animation pipeline. In all, the CEO has snapped up
28 companies in whole or part, according to data compiled by
Bloomberg.

Disney share Price data Digital Look
http://bit.ly/cKvfRV

Share Price      $31.26
Change Today     $0.34
% Change     1.10%
52 Week High     $32.43
52 Week Low     $15.59
Volume     847,454
Shares Issued     1,939.52m
Market Cap     $60,629m

Detective Comics No.27 – $1,380,000

The first book to feature Batman. It sold for 10 cents when it was
published in 1939.

Gold for April delivery rose into positive territory just after
Bernanke began, touching $1,108.80. It ended down by $6, or 0.5%, to
$1,097.20 an ounce.

Conclusions

I feel it will rally once the Gold Sale is completed towards 1225.00
but has been defensive the last 3 Sessions.

Sugar +2.99%.
Cocoa positive but less than 1%

Investors are betting political turmoil will weaken Turkey’s lira more
than any other currency as the arrest of more than 40 army officers
over an alleged coup plot raises tension between the government and
the military.One-month put options that grant the right to sell the
lira against the dollar have surged to a 3.4 percentage-point premium
over equivalent call options to buy the currency. The gap, known as
the risk-reversal rate, widened from 2.25 percentage points a week ago
and is the highest of 48 currencies on Bloomberg.

The lira has depreciated 2.1 percent against the dollar this week and
the equity benchmark, the ISE National 100 index, lost 7 percent.
Yields on two-year Turkish government bonds rose seven basis points to
9.01 percent yesterday, the biggest jump in three weeks. The cost of
contracts to protect debt payments from Turkey rose 4 basis points to
a two-week high of 202 basis points yesterday, credit-default swap
prices from CMA Datavision show.

8.00 Target.

With the ink barely dry on the temporary handover of power to the Vice
-President, Goodluck Jonathan, Omaru Yar'Adua has been rushed back to
Nigeria amid concerns in his inner circle that he was in danger of
being permanently ousted.His return, after a three-month absence and
the continuing mystery surrounding his health, has raised the prospect
of a damaging power struggle in Nigeria's ruling party. It could also
threaten the delicate balance of power between the northern and
southern halves of the oil rich country.

The presidential spokesman, Olusegun Adeniyi, confirmed that Goodluck
Jonathan would continue in his role as acting President but gave no
details of Mr Yar'Adua's medical condition. The statement also failed
to refer to Mr Jonathan as the acting President, twice calling him the
Vice-President, leading analysts to warn of a "subtle struggle" to
follow between the two rival camps.Despite his journey home, Mr
Yar'Adua is said by sources close to the presidency to be unlikely to
recover sufficiently to return to office and in no state, certainly at
the moment, to oversee any government business.

The President's wife, Turai, is believed to have played a prominent
role in his sudden return. Along with a trio of his senior advisors,
she had reportedly become concerned about Mr Jonathan's assertive
performance since he formally stepped up. The acting President has
overseen a cabinet reshuffle and is being urged by some supporters to
consider running for the top job in next year's elections.

The return clearly surprised the acting administration. A hurriedly
convened cabinet briefing ended with Information Minister Dora
Akunyili saying that Mr Jonathan had spoken to Mr Yar'Adua's aides and
would meet his wife last night. It was clear that the acting president
had still not seen his former boss.

"This is more about calculation and manipulation behind the scenes,"
said Lucy Donnelly, Africa progamme director at the UK thinktank
Chatham House. "No one knows what state Yar'Adua is in and it's going
to be difficult for Jonathan to make decisions now."

Conclusions

The Narrative belongs in a Novel. A Severely incapacitated Head of
State returns in the Dead of the Night. One senses these are the Joker
Cards [like the Call to the BBC] but those around Yar Adua seem
prepared to play this Game for all they can. Things could get really
bizarre.

Aly-Khan Satchu
www.rich.co.ke

SABMiller Plc, the world’s second-largest brewer, and Diageo-owned
East African Breweries Ltd. have today agreed that Tanzania Breweries
Ltd. “will cease to brew and distribute EABL’s brands in Tanzania”.

Under the agreement, East African Breweries will continue to brew and
distribute SABMiller brands in Kenya, East African Breweries said in a
statement in Nairobi-based Daily Nation.

SABMiller and Diageo also agreed to withdraw all claims and counter
claims in arbitration in London and “not to pursue any further actions
in respect of the matters”, the statement said.

A dispute between Diageo and SABMiller arose in July after East
African Breweries gave notice to end a brewing and distribution
contract with its Tanzania Breweries, its local unit and acquire
control of Serengeti Breweries Ltd., the second biggest beer-maker in
the east African nation.

Diageo has a 50.03 percent stake in East African Breweries Ltd., while
SABMiller holds 52.83 percent of Tanzania Breweries. East African
Breweries also owns 20 percent of the SABMiller unit.

Conclusions

Allows EABL to explore Tanzania a little more wholeheartedly via Serengeti.

SABMILLER share price data Digital Look
http://bit.ly/bAaLYA

Price1,733.000
52-Wk High (01/05/10)1,858.000    
52-Wk Low (03/09/09)906.000    
1-Yr Return72.793
Earnings1.252    Price/Earnings28.470

Conclusions

That PE Ratio looks rich.

Par Value:                  1/-
Closing Price:          21.00
Total Shares Issued:          2,217,777,664
Market Capitalization:        46,573M
EPS:            1.80
PE:                11.667

Swot Analysis

KCB Group Dec 2009 versus Dec 2008 Full Year Comparison
Assets Deposits and Balances Banking Institutions Abroad 7.367b versus
41.535b - Note Well
Loans and Advances 120.467b versus 93.522b = +28.811%
Customer Deposits 162.544b versus 126.691b = +28.299%
Total Interest Income 17.968b versus 14.745b  = +21.844%
Staff Costs 7.144b versus 5.973b = +19.604%
PAT 4.083b versus 4.19b = -2.55%
Deferred Tax 566.568 million
Gross NPL 14.639b versus 10.355b = +41.644%
Net NPL 0

Dividend maintained at 1 shilling
The Group is going to raise Long Term Bond Money 15b Shillings via the NSE.

Conclusions

The EPS was not released but my Calculations show it as 1.84. That is
subject to confirmation.
They lost a Very Big Bank Deposit through 2009 I think that was GOSS.
Note the Climb in Gross NPL but zero Net Exposure.

21/1.84 = 11.41 PE
4.76% Yield

Looks like a Square Price

Par Value:                  5/-
Closing Price:          8.35
Total Shares Issued:          75,708,872
Market Capitalization:        632M
EPS:            1.55
PE:                5.387

Swot Analysis

6 Months to Dec 2009 versus six Months to Dec 2008
Turnover was 6.189b versus 5.674b
EPS 1.32 versus 0.35 = +277.14%

Conclusions

Well its all about whether this Run Rate is the New Baseline or not ?

If it is 1.32 x 2 = 2.64
8.35 / 2.64 = 3.162 Forward Implied PE and thats cheap.

Conclusions

I think Long Shillings short Sterling running the Carry and with a
chance of a sharp run through 100.00.

Shareholders in NIC Bank, the 11th largest bank by total assets, are
set to earn a dividend of 50 cents per share on top of a bonus of one
share for every 10 held as the bank looks to conserve cash in
anticipation of higher capital demands at it eyes growth prospects.

NIC share Price Graphs and results www.rich.co.ke
http://bit.ly/20bSMS

Par Value:                  5/-
Closing Price:          35.50
Total Shares Issued:          326,361,632
Market Capitalization:        11,586M
EPS:            3.31
PE:                10.725

East African Breweries Ltd.
http://www.eabl.com/
Par Value:                  2/-
Closing Price:          152.00
Total Shares Issued:          790,774,336
Market Capitalization:        120,198M
EPS:            9.09
PE:                16.722

Six Months to Dec 2009 versus to Dec 2008
EPS 4.67 versus 5.13 -9.00%
Net Cash and Cash Equivalents 1.632b versus 170m

Qi Baishi is not a name that many Western aficionados of art can
recognise, let alone pronounce.This son of Chinese peasants, who
received no formal artistic training, has just become the third
bestselling artist in the world at auction. Figures out next month
from the art market data organisation Art Price will show that Pablo
Picasso and Andy Warhol raked in more than $220 million (£143 million)
in sales between them in 2009, heading the rankings as they do almost
every year.

The appearance of Qi immediately below them, with more than $70
million in sales, says much about the changing shape of the
international art market and China’s economic boom. Qi (1863-1957)
owes his place on the list to his work being original, striking and
instantly recognisable — and to his being prolific, ensuring a steady
supply of pieces to the market.

In 2007, Qi Baishi's Peaches and Fire Crackers (1952) sold at
Sotheby's in Hong Kong for £850,000

Tata Motors Ltd.’s first foreign chief executive, Carl-Peter Forster,
has dealt with failed takeovers and plunging sales in his previous
jobs, experience he can draw on as he seeks to revive the maker of
Jaguar sedans and Land Rover sports-utility vehicles. Jaguar reported
a 20 percent slump in vehicle sales in the 10 months to January amid
the global recession. Tata’s strategy of straddling luxury and
entry-level segments has led to the carmaker being downgraded at least
three times each by Standard & Poor’s and Moody’s Investors Service
since buying Jaguar in 2008 as it struggles with $4.9 billion in debt.

“It is impossible to make a lot of money with Jaguar,” said Juergen
Maier, who helps manage 860 million euros ($1.1 billion), including
Indian equities, at Raiffeisen Capital Management in Vienna. “For
Forster, the important focus will be how to build Tata Motors’ future
as a global player.” Raiffeisen doesn’t hold Tata Motors shares.

Tata, which also makes the $2,500 Nano, the world’s cheapest car,
tomorrow will report consolidated earnings for the quarter ended
December. It already announced a profit of 4 billion rupees ($87
million), excluding Jaguar, for the period, compared with a loss of
2.63 billion rupees a year earlier. Tata Motors declined as much as
2.3 percent to 668.90 rupees in Mumbai today, their lowest level in
two weeks. The stock rose almost fivefold last year.

Tata share price data MoneyControl
http://bit.ly/chfO4e

The Paris Club of creditor nations has agreed to write off or
reschedule almost half of the $6.9 billion debt owed to it by
Democratic Republic of Congo, it said on Thursday.

Of $3 billion covered by Thursday's agreement, $1.3 billion will be
cancelled and almost $1.7 billion rescheduled, while debt service
payments have been deferred until after July 1, 2012.

The agreement follows the International Monetary Fund's approval in
December of a long-awaited $550 million loan arrangement for the DRC,
making the country eligible for an IMF debt relief program .

The Club deferred repayments "on an exceptional basis, considering the
Democratic Republic of Congo's limited capacity of payment", it said
in a statement.

Paris Club creditors said they would be ready to give further relief
once Congo reaches completion point under the Highly Indebted Poor
Countries (HIPC) initiative.

"The Democratic Republic of Congo is committed to devote the resources
that otherwise would have gone to Paris Club creditors to priority
areas identified in the country's poverty reduction strategy paper,"
the statement said.

The NSE20 closed 6.81 points lower at 3627.30.
The NASI was up 0.81 points to close at 79.16.
Market Cap was 921.767b versus 91.76b.
Equity Turnover was higher at 249.755m versus 219.093m with Safaricom
the Outsize Trade and closing the session at 5.50. The Bourse has
snapped back 100 points from the Trough of the
Political Swoon related sell off and looks well poised for a run 10%
higher. KCB reported Full Year Results in line and UNGA reported 6
month Profits +277.14% confirming that Millers have made hay. The Agri
Sector has also ignited after a long Period of Sleep.

The Agricultural Counters ignited some 3 Sessions ago on some Good
Across the Board Buying. This tends to be a Sleepy Corner so the
Activity was noteworthy. Prices have firmed up in some cases about 20%
in three sessions. Prices are out of Sync and it seems someone is
seeking to buy Equity deep in the Disequilibrium.

Kakuzi was the Biggest Winner at the Bourse surging 9.43% to close at
43.50 with 4,500 shares traded.Kakuzi trades on a PE of just over 3.00
whereas 10.00 would be reasonable and that gives the Price a great
deal of Headroom [about 300% if it gets to a PE of 10]. This is
Kakuzi's highest close in 2 and a half Years.

Kakuzi share price data and Graphs www.rich.co.ke
http://bit.ly/5bxXIz

Par Value:                  5/-
Closing Price:          39.75
Total Shares Issued:          19,600,000
Market Capitalization:        779M
EPS:            13.12
PE:                3.030

Sasini Tea and Coffee had a whipsaw day. Sasini Tea held its AGM
Today. Sasini Tea closed 2.92% easier at 8.30 having traded a 9.20
intra day high. Sasini Tea traded 668,400 shares worth 5.571m and the
low close looks a result of an Across the Books trade conducted at
8.20.

Rea Vipingo closed 5 cents better at 15.30 and traded 18,100 shares.
This is a 15 month High.

SAFARICOM

shares volume     27,200,600
total turnover      147,745,024
avg price     5.43 CLOSING PRICE 5.40
high price     5.50
low price     5.30
last price     5.50

Conclusions

Buyers swept up the Supply upto 5.50 +2.8% session highs today. 5.35
is the bottom of the Trading Range with 5.70 and 6.10 the Upside
Objectives. Safaricom was the most active Counter and traded 59.155%
of the Total Turnover.

Safaricom share price data www.rich.co.ke
http://bit.ly/4cdZRM

Kenya Airways was unchanged at 50.00 [The Average was 50.46 so the
Bias remains higher] and traded a 50.00-52.00 range and 143,300 shares
worth 7.232m. There is very Good Buy Side Interest underpinning
48.00+.

Access Kenya rallied 2.439% to close at 21.00 and traded 43,400 shares.

CARGEN traded 13,000 shares at 30.00 -3.225%.
CMC Holdings eased 1.33% lower to close at 11.10 and traded 125,100 shares.

TPSerena traded 10,300 shares all at 46.00.

Nation improved a shilling to close at 123.00.
Standard traded 500 shares unchanged at 37.75.

ScanGroup traded 7,200 shares unchanged at 26.75.

KCB was the 2nd most active Counter on the day it reported Full Year
Profits. At the Group Level Profit After Tax was down 2.55%. KCB did
not announce an EPS but I am sure will in due course. The Bank is
priced at a PE of 10.5 and yields 4.76% and hence I think the News is
in the Price. I note a Big Deposit was no longer on the Balance Sheet,
the relevant amount being about 35b shillings and suspected to have
been from GOSS. KCB has a strong Regional Footprint as is positioned
to play a strong Role in Kenya and the Region. They are also
apparently looking to raise 15b shillings via a Bond at the NSE.
Respectable Results. KCB shaved off 1.19% to close at 20.75 and traded
a 20.50-21.50 range and 1.157m shares worth 24.267m.

Equity Bank firmed 0.32% to close at 15.75 and traded a 15.70-15.95
range and traded 981,700 shares worth 15.496m which ranked it 3rd in
Volume Terms.
Barclays Bank was unchanged at 51.00 and traded 104,200 shares.
Barclays is well supported at 50.00 and has 55.00 as an Objective.
COOP Bank dipped 0.51% to close at 9.75 and traded 270,700 shares. If
Results come as expected and on Par with the 3rd Quarter we should see
a move through 10.00 resistance.
Stanchart was unchanged at 176.00 and traded 7,100 shares.

NIC closed 1.41% better at 36.00 and traded 21,800 shares.
NBK closed 1.2606% better at 39.75 and traded 36,800 shares.
HFCK firmed 1.43% to close at 17.75 and was trading 17.80 +1.71%
session highs into the close. HFCK traded 92,700 shares.
DTB eased 0.69% to close at 72.00 and traded 25,000 shares.
CFC Stanbic traded 200 shares all at 44.00 +1.15%.

Kenya Re was unchanged at 12.85 on low volume of  36,300 shares.
Jubilee traded 4,000 shares unchanged at 135.00.
PanAfric did not trade.

Centum shaved off 0.4% to close at 12.50 and traded 77,300 shares.

Olympia Capital closed at 7.30.

Unga reported half Year results +277.14% and reacted higher. Unga
closed 8.38% higher at 9.05 and was trading at 9.30 +11.38% and
session highs into the Close. If these Half Year Results are
sustainable then we could see Unga run up very sharply. The Implied
Forward PE is about 3.00.

Crown Berger snapped 8.33% higher to close at 26.00 where 2,000 shares
were traded.

EABL traded 4th at the Bourse. EABL was unchanged at 152.00 and traded
a 152.00-153.00 range and 54,400 shares worth 8.286m. Bloomberg
carried a Story that Diageo and SABMILLER have settled their
differences in Tanzania which now leaves EABL free to pursue Serengeti
and set up their stall properly there. EABL has a Demand versus Supply
Imbalance of 2.5-1.

BOC Kenya was the biggest loser at the Bourse closing at 142.00
-5.336% with 2,100 shares.
Carbacid was unchanged at 100.00.

Mumias Sugar dipped 0.5% to close at 10.00 and traded 494,200 shares.

KENGEN shaved off 0.72% to close at 13.60 and traded 109,200 shares.
KPLC was unchanged at 149.00 and traded 25,200 shares.
Cables traded 7,300 shares unchanged at 23.00.

Bamburi improved 0.6% to close at 168.00 and traded 11,000 shares.
ARM was unchanged at 104.00 and traded 12,500 shares. 100.00 is key
Support and expected to hold versus a move towards 120.00.
Portland did not trade.

KENOLKOBIL traded 29,800 shares all unchanged at 64.00.
Total traded 9,500 shares unchanged at 31.00.

Sameer was unchanged at 6.60 and traded 256,600 shares.

Eveready shaved off 5 cents to close at 3.50.
BAT did not trade.