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The US dollar was offered across the board
Nearly half of the atoms that make up our bodies may have formed beyond the Milky Way and travelled to the solar system on intergalactic winds
Nearly half of the atoms that make up our bodies may have formed
beyond the Milky Way and travelled to the solar system on
intergalactic winds driven by giant exploding stars, astronomers
The dramatic conclusion emerges from computer simulations that reveal
how galaxies grow over aeons by absorbing huge amounts of material
that is blasted out of neighbouring galaxies when stars explode at the
end of their lives.
Powerful supernova explosions can fling trillions of tonnes of atoms
into space with such ferocity that they escape their home galaxy’s
gravitational pull and fall towards larger neighbours in enormous
clouds that travel at hundreds of kilometres per second.
“Science is very useful for finding our place in the universe,” said
Daniel Anglés-Alcázar, an astronomer at Northwestern University in
Evanston, Illinois. “In some sense we are extragalactic visitors or
immigrants in what we think of as our galaxy.”
“Our origins are much less local than we thought,” said
Faucher-Giguère. “This study gives us a sense of how things around us
are connected to distant objects in the sky.”
Mark Rothko, No. 1, 1962
“I'm not an abstractionist. I'm not interested in the relationship of
color or form or anything else. I'm interested only in expressing
basic human emotions: tragedy, ecstasy, doom, and so on.” ― Mark
“Pictures must be miraculous.” ― Mark Rothko
CIA analyst: Beijing poses a greater threat than Russia @asiatimesonline
Law & Politics
senior CIA analyst has offered a rare public glimpse into American
intelligence analysis of China. Michael Collins, deputy assistant
director and head of the agency’s East Asia mission center, believes
more attention should be focused on China and that recent public angst
about Russia is distracting America from the threat posed by China.
“There’s been a lot of talk about Russia as a competitor, a country
that sees the liberal international order as something they don’t
necessarily subscribe to, that is actively engaged in trying to
undermine US influence in various areas around the world, and that has
[the] capability to do it,” Collins said at a security forum in Aspen,
“I would argue China applies to all three of those as well, and
increasingly has more power to do far more about that issue.”
China-US competition is not limited to Asia but is also visible around
the world, Collins said, pointing to China’s recent launch of a major
military base on the strategic Horn of Africa, in Djibouti. The
Chinese base is located close to the US military’s based in the same
An additional problem for Beijing relates to what Collins termed
“domestic political vulnerability and stability.”
“Unfortunately I think the Chinese have learned over the last several
years that they have been able to take coercive approaches to moving
into the South China Sea and in other areas – I could apply the same
model to other issues, be it in the economic arena or the political
arena around the area – and they’ve gotten away with it without much
of a blow back,” he said.
Xi Jinping struts the Global Stage, as established new facts on the
ground in the South China Seas and is goading Narendra Modi.
The Pivot to Asia is being rolled back.
China steps up warning to Botswana over Dalai Lama visit Reuters
Law & Politics
China stepped up its warning to Botswana on Wednesday over a planned
visit by exiled Tibetan spiritual leader the Dalai Lama next month,
demanding the African nation respect China's core interests.
The Dalai Lama, reviled by Beijing as a dangerous separatist, is
expected to address a human rights conference in the capital,
Gaborone, on Aug. 17-19 and will also meet Botswana's president. China
is a major investor in Botswana's economy.
China has already "clearly" expressed its point of view about the
Dalai Lama's visit, Foreign Ministry spokesman Lu Kang told a daily
"Issues relating to Tibet concern China's sovereignty and territory
integrity. We demand the relevant country earnestly respect China's
core interests and make the correct political decision on this
matter," Lu said, using stronger language than before on the issue.
"China will not interfere in other countries' internal affairs, but
will certainly not tolerate another country doing anything that harms
China's core interests," he added, without elaborating.
The Making of the Tabloid Presidency Sam Tanenhaus @nybooks
Law & Politics
Devil’s Bargain: Steve Bannon, Donald Trump, and the Storming of the
Presidency by Joshua Green
Six months into Donald Trump’s presidency, the bond between him and
his base remains strong, largely unaffected for now by the mounting
scandals, talk of impeachment, and Trump’s stalled agenda.
It is a testament to his adroit intertwining of Bannon’s story with
Trump’s that we’re not certain which of the two figures has sold the
bigger part of himself to the other. In the broader sense, they are
coauthors of our moment’s tabloid conservatism.
Bannon was able to manage Trump the candidate when other, more
seasoned operatives could not because Bannon is Trump’s unlikely
spiritual twin, his bookish doppelgänger, unkempt in cargo shorts.
Like Trump, Bannon gravitated to media—not in Manhattan, but in
Hollywood. Goldman Sachs sent him there in 1987, when studios were
being bought and rebuilt, like real estate tear-downs, attracting all
manner of hucksters. Bannon was an ambiguous player in this murky
Plant Bannon anywhere, and he’ll identify the most sullen, aggressive
player and do his best to imitate him. On Wall Street Bannon idolized
Michael Milken—the rogue junk-bond king and raider of blue-chip firms
who was eventually sent to prison for insider trading. In Hong Kong,
where Bannon went in 2005 to put together a licensing deal involving
the video game World of Warcraft, he discovered the teeming community
of gamers, millions of “intense young men…who disappeared for days or
even weeks at a time in alternate realities.” He sensed “the powerful
currents that run just below the surface of the Internet,” Green
writes, and “began to wonder if those forces could be harnessed and,
if so, how he might exploit them.”
By this time, Bannon was also producing and writing political films of
his own—crude armies-of-the-night clashes that were frankly modeled on
Leni Riefenstahl: the gathering storm, the threat of violence, the
Wagnerian soundtracks, the “technique of fear,” as his longtime
screenwriting partner told Connie Bruck. Bannon’s first film, In the
Face of Evil, which glorified Reagan’s part in winning the cold war,
left reviewers cold—“very much like Soviet propaganda,” one wrote. But
it thrilled a small but intense contingent of Hollywood conservatives.
These were differences less of policy and program than of cultural
outlook. Drudge, Breitbart, and Bannon, as they spoiled for a Day of
the Locust showdown with the Lotus Eaters in Hollywood and inside the
Beltway, a heroic purging of the sewage pipes, concocted a kind of
political porn—gossip and exposé commingled with conspiracy. There is
a long half-forgotten history of this on the right dating back to
McCarthy-era best-sellers like Washington Confidential (1951), which
mixed sleazy tidbits (the actual telephone numbers and street
addresses of prostitutes) and warnings that, despite McCarthy’s hosing
the stables, the Pentagon and State Department were infested with
Communists and “fairies.”
Some of the most illuminating pages in Green’s book are not about
Bannon but about Trump—surprisingly, given how much has been written
about him. Green approaches Trump as a serious figure, with “the best
raw political instincts of any Republican in his generation.” Trump
saw politics not as a form of entertainment but as pure entertainment
aimed at specific audiences and markets. He also knew a good deal
about tabloid politics. His tutor was another down-market genius, Roy
Cohn, the lawyer and former counsel for Joe McCarthy. Already in the
1990s, according to a recent account in The New Yorker, Trump had
entered an alliance of sorts with The National Enquirer, transforming
from a subject of its scurrilous headlines into a “source” for
salacious stories on others; during the 2016 campaign the Enquirer
became one of Trump’s strongest mouthpieces. But it was Trump’s TV
series The Apprentice that elevated him from Page Six to weekly living
room fixture, with his arch bombast and casino bluster. In its first
season, in 2004, the show drew an average audience of some 20 million
viewers. (By comparison, in 2016 the first Republican debate, which
set a record, drew 24 million. All the rest drew many fewer. The
Democratic debates got puny audiences, sometimes of 5 million.) No
candidate since Ronald Reagan had entered politics as well known as
Green shrewdly sees a second motive for Trump’s clinging to the
birther fantasy: it tapped into a huge new constituency. In his
transactional world of “commutative property,” Trump had traded one
audience for another. His canny insight—or instinct—was to understand
that the Republican nomination would go to the candidate who traveled
the farthest downstream, not just to viewers of Fox News but to the
audiences who tuned in to conspiratorial talk radio and drew their
news from customized Internet feeds and social media.
He had a new theme, the perils of immigration, one component of his
populist nationalism and its hatred of “secular” globalist “elites.”
Again Washington Confidential is a useful guide. Its authors told
lurid stories of a crime- and sex-crazed black population, growing but
half hidden, which set upon white citizens and the police, who were
powerless to make arrests and get convictions because of liberal
politicians and judges. Bannon updated this case in Breitbart, only
now the threat came from lawless immigrant hordes streaming across the
border into “sanctuary cities,” where they committed crimes, including
murder and rape, and again went unpunished. In 2013, Bannon set up a
Breitbart bureau in Lubbock, Texas, to report on this. He also got to
know border agents.
But if Trump is easily distracted, Bannon is not. Green’s book is in
part a cautionary tale: both Trump and Bannon have a history of being
taken lightly only to rear up and catch the skeptics by surprise.
Bannon was scoffed at in Hollywood, and in the early stages of the
election he seemed no match for Roger Ailes. Most thought Trump would
be laughed off the stage once the votes were counted. Those
assumptions are now haunting memories. Bannon is still with us, and
for the time being his “blunt instrument” is still in the White House.
Facebook continues to be one of the fastest growing and most profitable tech companies in the world.
Facebook continues to be one of the fastest growing and most
profitable tech companies in the world. Revenue rose 45 percent in the
second quarter, the company said on Wednesday. That's nowhere near the
incredible pace of growth that started in late 2015, but it's hard to
complain about a company of Facebook's size growing "only" 47 percent
in the last six months with 45 percent operating profit margins.
Facebook has been getting higher prices for the ads it sells. That has
helped offset the slowing growth in the number of ads in the news
Tanzania President Urges Increased Control of Mineral Wealth
Tanzanians are being cheated out of the country’s mineral wealth and
should take more control of their natural resources, President John
Investors in Tanzania’s mining industry have “stolen” from the country
by failing to provide a fair share of the revenue they generate from
gold and other minerals, Magufuli said in a speech in the central
region of Singida on Tuesday.
“We are surrounded by wealth; we have to stand up and protect it,” he
said. “It shouldn’t happen that we have all this wealth, sit on it,
while others come and benefit from it by cheating us.”
Magufuli is overhauling the country’s mining industry as the
government targets doubling its contribution to gross domestic product
to 10 percent by 2025. In March, he banned mineral exports and ordered
an audit to identify loopholes that he said result in income losses.
The government this month approved laws that would enable the state to
renegotiate contracts with mining and energy companies.
The dispute between Acacia and the government escalated over the past
two weeks the authorities detained at least two of the company’s
senior employees for questioning. Chief Executive Officer Brad Gordon
said July 21 that “many” of the company’s senior employees have been
interviewed by the authorities. This week, the government presented
Acacia with a $190 billion tax bill to cover alleged undeclared export
revenue from its mines.
Acacia’s shares have fallen 57 percent so far this year and traded 5.3
percent lower at 160 pence by 10:25 a.m. in London.
Two investigations into corruption in resource-rich DR Congo show why it stays so poor Quartz Africa
The Democratic Republic of Congo (DR Congo) ranked 176 out of 187 on
the latest United Nations Human Development Index and two new
investigations have shed more light on why that’s the case.
Despite being Africa’s biggest copper producer and the world’s leading
source of cobalt with “up to $10 billion” worth of those minerals
mined and sold abroad, an investigation by Global Witness, the
anti-corruption charity, shows that “as little as 6%” of DR Congo’s
annual mining exports reach the national budget.
As a result, despite the country’s vast mineral wealth, an average
Congolese national is “among the poorest on the planet,” Global
This reality, described as a “paradox of poverty”, is the consequence
of large scale corruption which ensures very little of the country’s
mineral wealth find its way back to the people. Between 2013 and 2015,
mining revenue of up to $1.3 billion—twice the amount the country
spends annually on health and education—failed to reach the treasury,
according to Global Witness. The shortfall is blamed on a
“dysfunctional state-owned mining company and opaque national tax
agencies” as well as “corrupt networks linked to President Joseph
Tiny Rowland: Businessman, spy, friend of apartheid?
When the dust settled around the koppie at Marikana on August 16 2012,
34 mineworkers lay dead and a further 78 injured. This was the single
largest use of deadly force by the police in South Africa since the
Sharpeville massacre in 1960 and an indictment of President Jacob
Zuma’s administration. Most of the civilians were shot in the back.
The perpetrators, the South African Police Service, were responsible
for a massacre of mineworkers who were struggling for a living wage.
The focus of their anger and frustration was not the state but,
rather, the mine owners, Lonmin. Far from being blameless, this
British platinum giant used its shareholder, ANC heavyweight and South
African Deputy President Cyril Ramaphosa, to call for what was termed
“concomitant action” against the workers. At stake was the continued
supply of cheap labour required to maximise profit from the mine.
The struggle of these mineworkers was against a 110-year-old
corporation that, for almost 90 years of its existence, was known as
the London and Rhodesian Mining and Land Company (Lonrho). By the late
1980s Lonrho was active in 80 countries, employing more than 140 000
workers in over 800 related subsidiaries. Lonrho’s interests in
apartheid South Africa ranged from the distribution of Mercedes-Benz
cars to ownership of the country’s third-largest platinum mine,
Western Platinum, which it acquired in 1987.
Lonrho shed its Rhodesian roots under the leadership of Roland “Tiny”
Rowland, who controlled the company for almost 30 years from 1962
Rowland was born in India to a British mother and a German father.
Both had been interned in a camp during World War I because of their
German links. Rowland would spend part of World War II in a detention
camp on the Isle of Man. During the 1930s he lived in Germany for a
spell and joined the Hitler Youth.
Rowland had a long-standing feud with the British establishment, which
he sometimes disdained while still embracing its conventions of
ownership and its institutions. He made his first fortune not in
Britain but in the colony of Southern Rhodesia, where his good looks
and upper-class accent charmed the local white elite.
Rowland was long associated with British intelligence, even though
there is little substantive proof. It was thanks to former MI5 man Sir
Joseph Ball that Lonrho hired him. It is speculated that Ball might
have been his controller when he was detained on the Isle of Man
during the war. In addition, one of the members of his board, until at
least 1973, had been an MI6 agent.
Rowland was on good terms with African heads of state, including
Libya’s Muammar Gaddafi, Zambia’s Kenneth Kaunda and Jomo Kenyatta and
Daniel Arap Moi of Kenya.
His privileged relationship with Malawian autocrat Hastings Banda is
said to have aided Lonrho in large-scale transfer pricing, in effect a
massive underpayment of taxes, which was common practice in Lonrho’s
African business empire. A similar allegation was made about Lonmin in
South Africa under the leadership of chief executive Ian Farmer before
the Marikana massacre in 2012.
Rowland had easy access to United States CIA chief Bill Casey, Israeli
intelligence agency Mossad deputy chief David Kimche and Middle
Eastern arms dealer Adnan Khashoggi. Ronald Reagan’s assistant
secretary for African affairs in the 1980s, Chester Crocker, was a
major player in Southern African politics through his policy of
“constructive engagement” towards Pretoria. He trusted Rowland because
of his unfettered access to African heads of state and reassuring
penchant for clandestine diplomacy, guaranteed by the invisibility of
any staff. Rowland ticked all the boxes for the perfect spy.
Former British Conservative prime minister Edward Heath dubbed
Rowland’s boardroom behaviour “the unpleasant and unacceptable face of
capitalism”, sealing his perennial “outsider” status in the British
press. This belied the fact that he was the consummate insider trader,
enjoying access to powerful networks of influence across the world.
His was the face of capitalism that seamlessly conflated business and
politics in a manner that has become ordinary in most countries today,
despite its deeply corrosive effect on integrity in public life.
It should therefore be no surprise that his personal fortune peaked
during Margaret Thatcher’s doggedly pro-market prime ministership.
This was thanks to Lonrho chairperson Sir Edward du Cann, who was
instrumental in getting Thatcher elected as leader of the Conservative
Party in 1975. Du Cann was also key in lobbying Thatcher to meet with
Rowland and persuaded her private secretary to “insert documents
supporting Lonrho into the prime minister’s red boxes at the end of a
working day”. According to Du Cann, “Margaret regarded Tiny as
To do business, Rowland preferred dealing directly with heads of
state, jetting between countries and continents in his Gulfstream with
pit stops long enough to press the flesh with senior politicians and
security men, exchange information and conclude deals. Yet he also had
to rely on local agents. In South Africa his bagman was the
cardiologist Dr Marquard de Villiers, who controlled Lonrho’s diverse
interests in South Africa and Mozambique from his Pretoria medical
Such a view is profoundly misplaced. Rowland was no sidebar or
swashbuckling businessman. He was a sanctions buster who paid his tax
in Britain from a fortune made in largely poor African countries.
Apartheid spy Craig Williamson told me that he met Rowland and recalls
him flying into the Waterkloof military air base just outside
Pretoria. He believes that Rowland “was a businessman, in it for
Is it not possible that Rowland was all three: British businessman,
friend of apartheid and English spy? He certainly acted like a spy in
the service of the apartheid regime when it suited him. He was also
corrupt and in the service of many governments and political agendas.
One of those was without doubt the UK and another was South Africa.
This is an edited extract from Apartheid Guns and Money: A Tale of
Profit, published by Jacana. Hennie van Vuuren is director of Open
Secrets, which investigates historical corruption
He was a very charismatic figure whom I met severally because his son
was at school with me.
@NationMediaGrp reports H1 EPS 2017 +4.796% Earnings here
Par Value: 2.50/-
Closing Price: 108.00
Total Shares Issued: 188542286.00
Market Capitalization: 20,362,566,888
H1 Turnover 5.2742b vs. 5.6348b -6.400%
H1 Total costs [4.103b] vs. [4.490b] -8.619%
H1 Profit before income tax 1.1712b vs. 1.1449b +2.297%
H1 Profit after income tax 819.8m vs. 811.5m +1.023%
EPS 4.37 vs. 4.17 +4.796%
Interim dividend per share 2.50 vs. 2.50
Cash and cash equivalents at the end of the year 4.3429b vs. 4.0458b +7.343%
PBT was up 2.3% y/y to KES 1.17bn while EPS increased by 4.7% y/y to
KES 4.40 from KES 4.20 in 1H16.
Total turnover was however down 6.4% y/y to KES 5.27bn on the back of
a decline in print revenue.
Earnings growth was mainly supported by cost savings, broadcasting
division growth (mainly Kenyan unit) and digital division growth.
Pre-tax margin improved by 200bps to 22% from 20% in 1H16 on the back
of cost management measures. Total costs declined 8.6% y/y to KES
4.1bn mainly attributed to FY16 reorganization benefits.
Print Division: Daily Nation revenue down 7% y/y due to reduced
advertising ahead of the elections.
Business Daily revenue down 3% y/y impacted by the political environment.
Broadcasting Division: NTV Kenya revenue up 18% y/y as the general
elections edge closer while NTV Uganda revenue declined 1% y/y.
Digital: 54% y/y revenue growth. Notably, digital division growth was
mainly on the back of Kenya Buzz performance (acquired in February
Interim dividend has been maintained at KES 2.50 per share.
''The Group performance was positive, despite the decline in revenue
arising from reduced advertising volumes and a challenging regional
Group will continue seeking new revenue sources in addition to
managing the costs to ensure sustained positive performance
Thirsty city: after months of water rationing Nairobi may run dry
For the team managing Nairobi’s water, the stakes have never been so
high. Water-rationing has been going on in Kenya’s capital since 1
January, and supplies might run dry by September. The last two rainy
seasons were dismal; more rain is not expected until October and
cannot be counted on.
For the city’s 3.4 million residents, the possibility of the entire
city running dry is so beyond their control that most bat the thought
away and soldier on, storing water in jerry cans when taps flow. But
the problem is getting harder to ignore. On 14 July, Nairobi City
County declared a cholera outbreak, citing among causes “irregular
supply of potable water”. How bad might this get?
“At the end of every rainy season I have excess water, but this year
no, we’re only 37% full,” says Job Kihamba, who manages Ndakaini, the
storage dam that traps three rivers that flow down from the Aberdare
mountain range and releases the water in the dry season. The
Ndakaini–Ng’ethu system accounts for 85% of Nairobi’s water; every day
the engineer measures what comes in, what leaves, and the safety of
the dam wall.
For the last 12 months water has been short. The rains in
October–December 2016 delivered just 268mm of water compared to about
700mm expected from rainfall patterns in recent years. Then the
March–May rains this year were late. When I visited Ndakaini with
colleagues from the World Agroforestry Centre in April, the reservoir
was just 20% full, an unprecedented low. We gazed at the exposed mud
and, looking towards the city, thought “Who down there knows?”
Finally, the rains came on 1 May, but delivered just 440mm of the
1,000mm expected during the rainy season. Today the Chania and
Sasumua, two rivers that supply the city, resemble streams.
The water available to the city has plummeted. Nairobi’s water company
is distributing 400,000 cubic metres a day, 150,000 less than it used
to and 350,000 less than the city needs; 60% of the population lacks
reliable water. Of 78 public boreholes, only 48 work. “Nairobi used to
be a swamp but is no longer behaving like one. Our underground rivers
have dried up,” says engineer Lucy Njambi Macharia, Nairobi City Water
and Sewerage Company (NCWSC) environment manager. Swamps are the
recharge areas, but they have been built upon. The county is
attempting to address this but is “overwhelmed by urbanisation and the
need for housing”.
Njambi and other experts have plenty of possible solutions. There are
things that can be done in the city, such as rainwater harvesting from
buildings and “deliberate efforts to cause groundwater recharge”. The
115,000 cubic metres of wastewater, that the company treats daily,
could be pumped back into the ground for eventual re-use.
But the most important route, they all say, is to care for the land.
“The catchment is my ‘next God’,” says Kihamba. “Without it, I’m
done.” The total catchment spans 970,000 hectares and, besides the
city, must supply water to millions more within it and along the Tana
River which wends down to the Indian Ocean. It consists of small
towns, tea estates and an estimated 300,000 small farms, many of which
supply food to the city.
“What we are seeing here is a broken loop between how a city
reconciles its thirst for water and its hunger for food,” observes
resilience expert Arturo Getz Escudero. “Cities can reward farmers for
behaviours such as preventing erosion.” There are signs that this is
already happening - such as the work of Fred Kihara and the Nairobi
Water Fund which encourages landowners to conserve slopes.
“Working with 15,000 farmers, we’ve increased water to Nairobi by
27,000 cubic metres a day,” says Kihara. “Most is terracing, sediment
trapping, 200,000 trees a season. The deal is you can keep the soil on
your land with this good quality Napier grass that we supply you. We
aim for three metres of permanent vegetation on banks. What you want
is to reduce the pace of the water, get the rivers clean and improve
The dollar was sold off on the $5.1 trillion a day Foreign Exchange
Markets after the FED Statement last night.
African Stock Markets have been soaring and this Rally we are see in
Nairobi is surely part of a macro SSA equity Allocation and an Africa
Nigerian stocks have rallied for 16 successive days, a feat last
accomplished in 2001 said Bloomberg That’s taken the benchmark index,
the world’s worst performer of 2016 in dollars, to an almost 50
percent gain since early March, the best globally
The South African All Share is at a record high.
The Nairobi All Share saved 0.05 points off a 24 and 1/2 month high to
close at 158.40
The All Share will set a Fresh High as early as tomorrow as will
Safaricom set a Fresh lifetime high.
The NSE20 Index shaved off 3.64 points to close at 3764.74
Equity Turnover clocked 899.856m.
N.S.E Equities - Commercial & Services
Safaricom closed unchanged at 23.75 but was trading at 24.75 +4.21% at
the Finish Line. Safaricom is +29.086% in 2017 on a Total return Basis
and targets 28.00 in short order. Safaricom has a market cap of 951b
and will cross 1 Trillion in short order.
The Financial Times' John Aglionby head-lined an Article ''Kenya
Airways’ banks agree to debt-for-equity swap'' The Article said
Kenya Airways’ financial restructuring plan has received a boost after
11 local banks agreed in principle to convert into equity most of the
$225m of loans they have made to the lossmaking airline.
“The gun to our head was that we didn’t have a choice but to agree to
this if we wanted our money back,” said one banker with knowledge of
the proposed debt-for-equity swap.
The restructuring is contingent, however, on parliamentary approval
and all relevant stakeholders agreeing to its terms.
Kenya Airways rebounded +2.27% and traded 432,900 shares.
Nation Media Grp reported a -6.4% H1 Turnover decline, but eked out an
EPS gain of +4.796% via ratcheting costs lower -8.619%. NTV Kenya and
Digital [off a low base] did well but The totemic Daily Nation clocked
-7.00%. I listened carefully to the Investor Briefing and what is
clear is that Management understand how to cut costs but are still
looking for the Off-Ramp. Nation Media firmed +1.85% to close at
110.00 and traded 17,800 shares.
TPS Serena was high ticked +9.78% to close at 25.25 and is +23.17% in
2017. In their recent results, TPS struck their most constructive tone
since I have been studying their Earnings for over a decade.
Uchumi after rallying a parabolic +75.00% this month finally met some
Profit taking and eased -6.49% to close at 3.60 and traded 683,000
N.S.E Equities - Finance & Investment
KCB firmed +0.62% to close at 40.00 and was the most actively traded
share at the Exchange with 5.105m shares changing hands. KCB is
+49.56% on a Total Return Basis in 2017.
Equity Bank closed unchanged at 41.25 and traded 2.245m shares
Barclays Bank firmed +0.5% to close at 9.75 and traded 3.27m shares. .
N.S.E Equities - Industrial & Allied
Diageo PLC reported Earnings today and announced a +5.00% sales growth
in Africa. EABL will release its Earnings as early as tomorrow. EABL
closed unchanged at 264.00 and traded 258,600 shares.
KenGen closed unchanged at 8.10 and on heavy volume action of 4.236m.
KPLC firmed 5cents to close at 8.45 and traded 4.027m shares.