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Satchu's Rich Wrap-Up
 
 
Tuesday 30th of November 2010
 
Morning
Africa

www.rich.co.ke Register and its all Free.

If you are tracking the NSE Do it via RICHLIVE and use Mozilla Firefox
as your Browser.
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

My Weekly Piece for The Star The Hermit Kingdom
http://bit.ly/gzglrT

CNBC Africa Alishia covering ^NSE20 EABL ScanGroup KPLC
http://bit.ly/fjVe2o

#Mindspeak Saturday 4th December 0930
Bob Collymore CEO Safaricom
We are hoping to be able to Live Stream This Event Direct to your Mobile Phone.

Previous 2010 #Mindspeak Sessions and Presentations are here

Wolfgang Fengler Chief Economist Kenya The World Bank
http://bit.ly/958Kmi
Mahmud Janmohamed MD Serena Hotels
http://bit.ly/dh3P1l
Sicily Kariuki MD Tea Board Kenya Powerpoint
http://bit.ly/brrNMK
Martin O-O CEO KCB
http://bit.ly/i92bsh

Video Presentations are here RICH TV
http://www.rich.co.ke/rctools/richtv.php

Blog Commentary about this last Session

Liza Mucheru-Wisner rocks Mindspeak Nairobi Living James Marua
http://bit.ly/dHNP6Q

Unlike the last time when I missed Martin Oduor-Otieno speak I was on
time this Mindspeak month. The speaker Liza Mucheru-Wisner was someone
I had interviewed on a previous occasion. I checked in and found the
lady starting her presentation. The place was PACKED. The last time I
saw so many people at Mindspeak was when Caroline Mutoko made her
presentation. I eventually found a seat at the back and quickly logged
onto my Twitter to see who was in here. It seems that all the
#Kenyansontwitter that were not too hangover from the previous night’s
activities had made it to the Westgate.

SPEAKING MY MIND – by @lizawisner Nahinga's Blog
http://bit.ly/iceCB1

This is a monthy Business Networking event organized by Rich
Management (www.rich.co.ke). Mr. Satchu has made it possible for
fellow Kenyans to have the privilege of “access” to the mind of other
great people like CEOs of leading companies, Media Personalities and
other eminent persons who have had sterling careers.

One of the great things about coming to MindSpeak is that you get to
experience the content LIVE! We had the opportunity to see “That
Video” that Liza send that served to open the door for her to join the
Apprentice.  I wish I could pass the clip to you…

Macro Thoughts

A Time for Circumspection and not a Time to be wedded to any Theory.

Home Thoughts

I find this very Powerful Its By Kabir

Between the Poles of the Concious and the Unconcious, there has the
Mind made a Swing:
Thereon hang all Beings and all worlds, and that Swing never ceases its Sway.
Millions of Beings are there: The Sun and the Moon in their Courses are there:
Millions of ages pass, and The Swing goes on.

I imagine My Mother swinging as Free as a Bird, in my Mind.

May She rest in eternal Peace.

read more


China North Korea Alliance Risks Alienating Trading Partners Bloomberg
Law & Politics

China’s reluctance to restrain North Korea comes with a price, putting
it at odds with its three biggest trading partners and threatening to
drive South Korea and Japan into a closer alliance with the U.S.

China has avoided blaming its ally of 60 years for last week’s
artillery attack on South Korea, which killed four people. Instead, it
criticized joint naval exercises by South Korea and the U.S. that
began yesterday in the Yellow Sea.

In doing so, President Hu Jintao is putting political priorities ahead
of the economic interests that helped China’s gross domestic product
expand more than 90-fold in the past three decades to become the
world’s second largest. Combined trade with the U.S., Japan and South
Korea, which have all urged China to restrain the regime in Pyongyang,
is almost 300 times larger than its commerce with North Korea.

“The Chinese leadership is very cautious, so they opt to go light on
North Korea, even at very substantial cost to their relations with
South Korea, Japan, the U.S. and Australia,” said Kenneth Lieberthal,
director of the John L. Thornton China Center at the Brookings
Institution in Washington.

Conclusions

I disagree with this Prognosis.

See Here
http://bit.ly/gzglrT

read more


Teetering Asian dominoes test #Obama #Asia Times
Law & Politics

"You have a row of dominoes set up, you knock over the first one, and
what will happen to the last one is the certainty that it will go over
very quickly. So you could have a beginning of a disintegration that
would have the most profound influences."
- Dwight Eisenhower, former US president

The domino theory once governed American strategic thinking with
respect to communism
in Asia. It was one of the main justifications for the disastrous war
in Vietnam, and was discredited greatly in the wake of it. However,
looking at the situation in Asia today from the point of view of the
United States government, it seems that the specter of the falling
dominoes is rapidly coming back to haunt President Barack Obama, if
not in its classical form, at least as a kind of a ripple effect in an
already fragile region.

Conclusions

The Chinese are exploring this Theory at this North South Korea Intersection.

read more



Currency Markets at a Glance WSJ
World Currencies


Euro 1.3086 The euro fell below $1.31 for the first time since Sept. 21
Pound 1.5535
Yen 84.09
Dollar Index 80.948
Aussie 0.9604
South Korean Won 1157.90
India Rupee 46.06
Rand 7.0975

“The U.S. dollar continues its rally with the largest movements
against the euro as the market is clearly disappointed with the rescue
package of Ireland,” said Marc Chandler, global head of currency
strategy at Brown Brothers Harriman.

The cost of insuring Spanish and Portuguese government debt rose
Monday as spreads on peripheral euro-zone sovereign credit default
swaps, or CDS, widened to record levels in the wake of a lackluster
Italian bond auction, analysts said. The five-year Spanish CDS spread
widened by 25 basis points to 350 basis points, according to data
provider Markit. That means it would now cost $350,000 a year to
insure $10 million of Spanish debt against default, up from $325,000
on Friday. The Portuguese spread widened to 545 basis points from 502,
Markit said, while the Italian spread widened to 231 basis points from
215. "Spain and Portugal are now at record wides, suggesting that
contagion fears haven't been assuaged by Ireland's bailout," said
Gavan Nolan, vice president for credit research at Markit.

Conclusions

There are so many Moving Parts now.

Dollar Index 3 Month Chart INO 80.94 Last
http://bit.ly/cfmNIL

Euro versus Dollar INO 1.3096
http://bit.ly/9J71AE

read more



Henrik Sørensen Photo Booth New Yorker
Misc.

Sørensen says. “I decided to shoot the series in a slightly weird way,
working with colored gel lighting and playing with the depth of
sharpness in the images; I tried to create a universe in the imagery
that would perhaps be a bit disturbing to the viewer.”

read more



Gold Live 24 Hour Spot Price KITCO 1363.70
Commodities

I am looking for New All Time Highs before Year End.

read more


Live Crude Oil chart 85.10
Minerals, Oil & Energy

Crude for January delivery  rose $1.97, or 2.4%, to $85.73 a barrel on
the New York Mercantile Exchange. That was oil’s best finish since
Nov. 11.

“Last Wednesday the market exploded higher and it really hasn’t
stopped since,” said Tom Bentz, an analyst with BNP Paribas in New
York. “A lot of it is technical buying, momentum-driven.”

Oil rallied 3.2% on Wednesday, and stayed largely flat Friday on thin
post-Thanksgiving holiday trading.

read more


Soft Commodities at a Glance INO
Commodities


Cocoa CC.Z10.E    Dec 2010 (E)    2721              -35     -1.29%   
Coffee KC.Z10.E    Dec 2010 (E)    202.40    +0.25    +0.12%   
Cotton CT.Z10.E    Dec 2010 (E)    122.51    +6.45    +5.49%   
Sugar SB.H11.E    Mar 2011 (E)    28.43    +0.18    +0.64%  

read more


Pink Diamond Fetches $23 Million in Christie’s Biggest Gem Sale Bloomberg
Commodities


A 14.23 carat pink diamond sold at a Hong Kong auction last night for
HK$179.9 million ($23.2 million), the most expensive in Asia.

The rectangular-cut gem, called “The Perfect Pink” because of its
clarity and color, was the highest-priced lot at London-based
Christie’s International’s sale of more than 300 pieces of jewelry,
jade and gems. In 244 years of auctions, only 18 pink diamonds of more
than 10 carats (2 grams) have come up for sale, Christie’s said.

The auction, which also included a HK$27.5 million Nirav Modi necklace
with a 12.25 carat Golconda pear-shaped diamond, totaled HK$612.6
million, the largest jewelry sale held in Asia and the London-based
auction company’s biggest worldwide, according to Christie’s. The
sale’s jewelry staff all sported something pink in their attire for
the event.

1. "The Perfect Pink," a pink diamond weighing 14.23 carats, mounted
in a rose and white gold ring. Source: Christie's via Bloomberg

2. Nyoman Masriadi's "Trombone" sold for HK$2.7 million at Christie's
auction of Contemporary Southeast Asian art in Hong Kong. Source:
Christie's via Bloomberg

read more


Beijing’s Xu to Design Mouton Rothschild Label WSJ
Misc.

Salvador Dali, Joan Miró, Georges Braque — add the name of China’s Xu
Lei to the list of artists who have designed a label for top-flight
Bordeaux wine producer Château Mouton Rothschild.

read more


India’s Economy Expands More Than 8% for Third Straight Quarter Bloomberg
Emerging Markets

India’s economic growth exceeded 8 percent for the third straight
quarter, evidence of a strengthening in domestic demand that’s stoked
inflation by placing strains on the nation’s transport and power
systems.

Gross domestic product rose 8.9 percent in the three months through
September from a year earlier, matching the revised pace of growth in
the previous quarter, the Central Statistical Organisation said in a
statement in New Delhi today. That was above the 8.2 percent median
estimate of 30 economists in a Bloomberg News survey.

Improved infrastructure will prove critical to sustaining India’s
expansion rate, Prime Minister Manmohan Singh said this month as
inflation runs almost double what the government regards as “ideal.”
The Reserve Bank of India may need to resume raising interest rates in
the coming months after lifting borrowing costs six times this year.

Central bank Governor Duvvuri Subbarao on Nov. 2 raised the benchmark
repurchase rate and the reverse repurchase rate by a quarter-point
each to 6.25 percent and 5.25 percent, saying inflation continues to
hold above the “comfort zone.”The wholesale-price inflation rate was
8.58 percent in October, compared with the “ideal” level of 4 percent
to 5 percent, according to Finance Minister Pranab Mukherjee. Consumer
prices are rising at a pace near 10 percent, the fastest pace in the
Group of 20 nations after Argentina.

India’s GDP gain last quarter compares with an expansion of 1.9
percent in the 16-nation Euro area, 2.5 percent in the U.S. and 9.6
percent in China. The Organization for Economic Cooperation and
Development on Nov. 18 said high levels of unemployment in the U.S.,
Europe’s sovereign-debt crisis and growing trade imbalances around the
world pose risks to the global recovery.

Yields on 10-year government bonds fell 8 basis points this month
through today, to 8.03 percent, the only debt among BRIC nations to
rally during the period.Meantime, concern that political turmoil will
impede legislative work has countered the effect of the RBI’s 1.5
percentage points of rate increases on the rupee, reducing its gains
for the year against the dollar to about 1 percent.The currency
dropped 0.3 percent to 46.08 per dollar today, extending last week’s
losses, after federal investigators arrested eight Indian bankers and
brokers on Nov. 24 amid allegations of improper loan disbursals.

The Reserve Bank of India’s benchmark repurchase rate is 6.25 percent.
By comparison, the U.S. Federal Reserve’s target for overnight
interbank loans is zero to 0.25 percent, where it has been since
December 2008.

The rate differential between India and advanced countries spurred an
unprecedented $10 billion inflow into rupee debt this year. Overseas
funds also invested a record $28.5 billion into Indian stocks on
prospects of faster economic expansion in the South Asian nation.

The $1.3 trillion economy is likely to expand 8.5 percent in the
fiscal year through March, the most in three years, Prime Minister
Singh said Nov. 20. Challenges to sustaining the growth pace include
dealing “effectively with the threats of corruption,” he said.

The Sensex 5 Year Chart Yahoo Finance
http://yhoo.it/aYKWMc

Index Value:    19,246.52
Trade Time:    1:22AM EST
Change:    Down 158.58 (0.82%)

Come off 2010 Highs -

read more


US 'dismayed' by Egyptian election process Reuters
Law & Politics

The United States said on Monday reports of "irregularities" in
Egypt's parliamentary elections raise questions about the "fairness
and transparency" of the process.

"We are disappointed by reports in the pre-election period of
disruption of campaign activities of opposition candidates and arrests
of their supporters, as well as denial of access to the media for some
opposition voices," U.S. State Department spokesman P.J. Crowley said.

He added that Washington was "dismayed by reports of election-day
interference and intimidation by security forces."

Official results in Sunday's election are due on Tuesday. Opposition
charges of ballot stuffing, bullying and other trickery marred the
polls, but the Eygptian government said the balloting was fair.The
State Department said Egyptian confidence in the election outcome
would occur when the government addresses "existing flaws" and ensures
"full and transparent" access by independent monitors and candidate
representatives.The outlawed but partly tolerated Muslim Brotherhood
said on Monday a "rigged" election had all but wiped out its presence
in parliament, virtually eliminating opposition to President Hosni
Mubarak's ruling party before next year's presidential vote.

Officials have indicated Mubarak, in power since 1981 and whose health
has been under renewed scrutiny since gallbladder surgery in March,
will seek a new term if able. If not, many Egyptians think his son, a
top party official, will stand.

Investors have so far brushed off leadership worries, with the lure of
Egypt's sturdy growth outweighing uncertainty.

Conclusions

Investors might prefer the Known Known and as long as The Opposition
has been 'eliminated'.

read more


Egypt ^EGX30 Bloomberg Visual +9.7938% 2010
Africa

Value6,816.29   
Change26.880    
% Change0.396

7591 was the 2010 High.

Dollar versus Egyptian Pound INO 1 Year Chart 5.7423
http://bit.ly/fYDTpr

read more


Gaddafi issues warning to EU over African trade Reuters
International Trade

Libyan leader Muammar Gaddafi warned the European Union on Monday that
Africa would turn to other trade partners if the EU continued to
impose terms for cooperation.Gaddafi's warning, at an EU-Africa summit
attended by senior European officials, echoed complaints from some
other African leaders who say Europe is trying to make them open their
borders to trade but not giving enough in return.

"Our choice now is to cooperate with our brothers in the European
Union but if that cooperation fails, Africa has other choices,"
Gaddafi said in opening remarks at the summit in Tripoli. "Let every
country and every group govern itself. Every country is free to serve
its own interests."

"Africa can look to any other international bloc such as Latin
America, China, India or Russia."

A leaked internal document from the African Union this month showed
some governments on the continent felt that trade deals being offered
by the EU were one-sided.

It said the bloc was asking African countries to liberalise their
economies to comply with World Trade Organisation (WTO) rules but was
not doing enough to help them develop their own economies.

"We do not benefit from the WTO and we call for its abolition,"
Gaddafi said. "All its interests are in opening our borders for
industrial goods and killing national industries in the Third World,
so I call (on everybody) not to join it."

"We are not interested in political power. We want economic
development," he said. "What is the meaning of human rights? What is
the meaning of good governance?"

In his own speech to the summit, European Council President Herman Van
Rompuy defended the bloc's policy on Africa.

"In a highly interdependent world economy, there are no easy recipes.
But I am convinced that we can find ways of mutually beneficial
cooperation, notably via the private sector.

African Union Secretary-General Jean Ping, speaking at the summit in
Tripoli, said the stalled agreements were "a vital issue which must be
dealt with as soon as possible".

Conclusions

Europe was 50% of Africa's Trade and is now 33%.

read more


Dollar versus Rand Live ForexPros 7.1404
World Currencies

I like the Idea of testing a Rand Long at these Levels.

read more


Half of IMF loan to go toward Kenya FX reserves Reuters
Kenyan Economy

Kenya will spend almost half of a $500 million International Monetary
Fund loan primarily on infrastructure and energy, using the rest to
shore up hard currency reserves, a Treasury official said on Monday.

"We intend to spend between $100-200 million on a raft of projects
agreed with the IMF and use the rest to help build our import cover
position," Joseph Kinyua, permanent secretary at the finance ministry,
told Reuters.

A convergence criteria for the establishment of a monetary union for
the East African Community requires all member states to build up
gross external reserves to at least 6 months of import cover.

"We are working to ensure that is attained in due course," he said.

Latest Central Bank of Kenya data showed that on November 26, usable
official foreign exchange reserves stood at $3.471 billion, or 3.52
months of import cover.The IMF-backed program targets a reduction in
the ratio of government debt to gross domestic product to below 45
percent by 2013/14, while monetary policy would try to contain
inflation within a 5 percent goal.

Conclusions

There are Conditionalities.

read more


Safaricom issues $55.5 mln tranche for 5-yr note Reuters
N.S.E Equities - Commercial & Services

Kenya's largest telecoms operator Safaricom on Tuesday opened the
second tranche of a five-year medium-term note worth 4.487 billion
shillings ($55.50 million).The bond will be on sale for a fortnight
starting Dec. 1 and Safaricom said in a newspaper advertisement it
would issue the pricing at a later date.

Safaricom share price data and 1st Half Results here www.rich.co.ke
http://bit.ly/d9amsi

Par Value:                  0.05/-
Closing Price:          4.55
Total Shares Issued:          40,000,000,000
Market Capitalization:        182,000M
EPS:            0.38
PE:                11.974

Swot Analysis Key Highlights 6 months to 30 Sep 2010 versus to 30 Sep 2009
EPS 0.193 versus 0.168 +14.9%
Revenue 47.111850b versus 40.660829b +15.9%
PAT 7.630591b versus 6.631898b +15.1%
16.71m Customers
CAPEX was 10.1b
Customer Market share 76.7% from 78.3 -> Note Well They lost only 1.6%
Data Revenue as a Percentage of Total Revenue 23.8% versus 17.7% in Sep 2009
Blended ARPU 456.6 versus 466 previous Kenya Data 3.61m #Data Users 9%
of #Kenya Population

read more


India’s Essar gains full control of Kenya’s telecoms company Business Daily
Information & Communication Technology

Local shareholders that Essar has retained in its books for the past
three years to comply with telecoms company ownership rules are
selling their stake to the Indian firm having failed to contribute to
ongoing recapitalisation of the company, according to people familiar
with the deal.Essar Kenya is using commercial law firm Anjarwalla and
Khanna to buy out the Kenyan shareholders, who have a 20 per cent
stake in it, although it was not clear how much Essar is willing to
pay Capital Africa, CrossLink and Startnet companies that are
associated with businessmen Peter Kibiriti and Jos Konzolo for the
total stake but the deal is estimated to be worth millions of
shillings.

Conclusions

A check at Essar Telecoms Kenya Ltd structure ownership at the
companies registrar at the Attorney General office by the Business
Daily on Friday reveled that there was no registered company in such
name while the file of Econet Wireless Kenya Ltd had been removed from
the registry and could not be traced.

read more


Revaluation gains boost agriculture firms’ earnings Business Daily
N.S.E Equities - Agricultural

Listed agricultural companies Williamson Tea and Kapchorua doubled
their half-year net profits after booking gains from revaluation of
their assets, as record high international tea prices boosted their
sales to September.Williamson Tea’s net profits jumped 108.8 per cent
to Sh442 million while Kapchorua’s earnings after tax surged 105.8 per
cent to Sh92 million.A revaluation gain of Sh310.6 million on
Williamson Tea’s assets accounted for 70.2 per cent of the company’s
net profits, while Kapchorua’s Sh100.5 million represented 109 per
cent of the tea grower’s after-tax income.

The results come at a time when world tea prices have hit an all-time
high of Sh268 ($3) per kilogramme in the international markets in the
month of April, while a weak local currency has improved earnings of
tea exporters.

Conclusions

Tea Prices have shifted permanently Higher into a 'New Normal'.

Williamson Tea 1st Half 2010 results share data here
http://bit.ly/5sMXh0

Closing Price:          178.00
Market Capitalization:        1,559M
EPS:            96.42
PE:                1.846

Kapchorua Tea 1st Half 2010 results share data here
http://bit.ly/6SO7T2

Closing Price:          120.00
Market Capitalization:        469M
EPS:            35.60
PE:                3.371

read more



Uganda to start building oil refinery in 2012 Reuters
Minerals, Oil & Energy

Uganda will in 2012 start the phased development of an oil refinery
that will initially meet local demand of up to 25,000 barrels per day
(bpd) before scaling up to 200,000 bpd, an official said on Tuesday.

The refinery is to be based in Hoima in western Uganda.

read more


Angola's Oct inflation quickens to 16.08 pct y/y Reuters
Africa

Angola's annual inflation quickened to 16.08 percent year-on-year in
October from 15.72 percent the previous month, data on the central
bank's website showed on Tuesday.

read more


"Surprised and shocked" at WikiLeaks revelations
Law & Politics

Mutua said the US's Africa envoy Johnny Carson had called Prime
Minister Raila Odinga on Monday to apologise for the expected leaks.

"The US Government indicated they are sorry for the content in the
leaked documents," he said. "They however have not told us what the
documents say and what exactly they are sorry for."

That the US diplomatic mission in Kenya should be so critical in
private messages comes as little surprise.

US Ambassador Michael Ranneberger is outspoken in his condemnation of
the corruption many feel permeates every level of society in East
Africa's largest economy.

Observers say the coalition government of Odinga and President Mwai
Kibaki - formed to end the violence that followed disputed
presidential elections in December 2007 - is still steeped in graft.

Several prominent ministers recently stepped aside after coming under
investigation for alleged involvement in dodgy deals.

Mutua also accused foreign powers - apparently referring to the US -
of attempting to undermine the government.

"The Government is aware that a lot of money has been allocated to
fund the youth to cause an uprising against our country and lead us
into turmoil in an attempt to install a new leadership structure," he
said.

The US is ploughing millions of dollars into youth empowerment
programs in Kenya.

"What we know is that true friends should tell you the truth all the
time and should not tell you everything is okay on one hand and on the
other hand say the opposite or initiate programs against you," Mutua
added.

read more



 
 
N.S.E Equities - Agricultural

Kakuzi was marked down 7.344% to close at 82.00 and traded 29,100 shares.
Rea Vipingo was marked down 5.41% to close at 16.60 and traded 500 shares.
Sasini Tea eased 5 cents to close at 12.75 and traded 9,700 shares.



N.S.E Equities - Commercial & Services

SAFARICOM

shares volume     2,660,000
total turnover     12,092,580
closing PRICE 4.50 -1.098%
high price     4.60
low price     4.50
last price     4.55

Conclusions

Demand outweighs Supply by 2-1. The Price was effectively low Ticked
to close at 4.50. There is unserviced Buy Side Demand for 10m shares
at 4.50. The Price is oversold and underwritten at these Levels on a
Trailing PE of less than 12.00.

Kenya Airways bounced 0.546% to close at 46.00 and traded 179,600
shares. Kenya Airways reported 1st Half Results +66% ahead of the
Previous Year and trades on a 7.39 Forward PE if the 2nd Half keeps
Pace with the 1st Half Outcome.

Access Kenya firmed 5 cents to close at 16.00. Access Kenya traded
157,500 shares and has bounced 2.89% off 15.55 its recent 2010 Closing
Low.

Nation eased a shilling to close at 159.00 and traded 13,100 shares.
Standard Newspapers firmed 1.11% to close at 45.25 and traded 2,700 shares.

ScanGroup was unchanged at 56.50 and traded 70,900 shares.

CMC Holdings retreated 4.016% to close at 11.95 and traded 66,400 shares.
CarGen did not trade.

TPS Serena was unchanged at 68.00 and traded 27,000 shares.



N.S.E Equities - Finance & Investment

KCB was the 3rd most active share. KCB firmed 1.19% to close at 21.25
and traded a 21.00-22.00 range and 2.421m shares worth 51.755m. KCB
was trading at 21.75 +3.57% into the close. Martin O-O made an
Outstanding Presentation at #Mindspeak The Power Point is here
http://bit.ly/b8oKik The Presentation was filmed and is here
http://bit.ly/1mPS6v KCB trades on a Trailing PE of 11.413 and Forward
Implied PE of under 8.00.There will surely be a Re Rating with a PE of
at least 12.00 ahead of the Full Year. That would put the Price over
30.00.

Kenya Commercial Bank 3rd Quarter 2010 Earnings Release share price data
http://bit.ly/bshUrX

Par Value:                  1/-
Closing Price:          21.00
Total Shares Issued:          2,950,259,712
Market Capitalization:        61,955M
EPS:            1.84
PE:                11.413

Equity Bank was the 2nd most active Counter. Equity Bank eased 0.97%
to close at 25.50 and traded a 25.25-26.00 range and 2.414m shares
worth 61.879m. Equity Bank trades on a Trailing PE of 22.588 and has
underwritten 50% of the KPLC Rights Issue in conjunction with Centum
Investments.

Equity Bank share price data www.rich.co.ke
http://bit.ly/1tAg4B

Centum traded 4th today at the Bourse. Centum was unchanged at 24.25
and traded a 23.50-24.50 range and 1.112m shares worth 27.172m. Centum
has posted a 127.991% 1 Year Return and reported Strong Turnaround 1st
Half Results. Centum traded a Year High of 26.00 in September. Centum
has underwritten 50% of the Kenya Power Rights Issue with Equity Bank.

Centum share price data www.rich.co.ke
http://bit.ly/3jc0KV

COOP Bank was unchanged at 19.00 and traded 5th at the Bourse with
1.2m shares worth 22.809m changing hands. COOP Bank has posted a
114.423% 1 Year Return.
StanChart eased 0.37% to close at 270.00 and traded 46,300 shares
worth 12.502m.
Barclays Bank shaved off 50 cents to close at 61.50 and traded a
60.00-62.50 range and 51,700 shares.

NIC Bank was unchanged at 48.00 and traded a 48.00-48.50 range and
396,700 shares worth 19.228m. NIC reported strong 3rd Quarter Results
and looks to have a Forward PE of just below 10.00.
CFC StanBic eased 1.23% to close at 80.50 and traded 60,900 shares.
CFC StanBic reported strong 3rd Quarter Results and has an Implied
Forward of less than 10.00 and a First to market On Line Trading
System for the Nairobi Stock Exchange.
DTB eased 1.5% to close at 131.00 and traded 10,600 shares.
HFCK retreated 0.98% to close at 25.25 and traded 39,000 shares.
NBK eased 1.28% to close at 38.50 and traded 39,000 shares.

Kenya Re bounced 3.508% to close at 11.80 and traded 558,800 shares,
so a Good Volume Bounce.
Jubilee traded 4,400 shares and was unchanged at 189.00.
PanAfric did not trade.

Olympia Capital closed higher at 6.80 and traded 200 shares.



N.S.E Equities - Industrial & Allied

EABL was the most active share at the Nairobi Bourse trading 721,800
shares worth 156.624m. EABL closed unchanged at 216.00 and sits 4.00%
below its 225.00 All Time Closing High from last Monday. EABL has
posted a 63.152% 1 Year Return. EABL trades on a 23.762 Trailing PE.
Buy Side Demand is predominantly Foreign.

EABL share price data www.rich.co.ke
http://bit.ly/57wrgL

EPS:            9.09
PE:                23.762

KPLC eased 1.1% to close at 22.50 and has retreated 23.72% from 29.50
Closing on Wednesday last week. KPLC traded a 22.00-23.00 range and
219,900 shares. KPLC is selling a Big Slug of Rights Shares at 19.50.
It is devilishly difficult to model the Net End Result but I see a
10-11 Trailing PE after the Split, Dilution and Rights. The Long Term
Story is a powerful one, The Pricing looks aggressive to me.

KPLC Data share price data and Relevant Announcements www.rich.co.ke
http://bit.ly/BLiwX

KenGen eased 1.79% to close at 16.45 and traded a 16.00-16.70 range
and 203,200 shares worth 3.346m. KenGen apparently will decide in
February about its 19% Stake Sale.
Cables closed sharply lower at 15.45 and traded 15.05 -8.79% at the
Close. Cables traded 10,500 shares.

Eveready slumped 16.625% to close at 2.50. Eveready traded shares as
low as 1.65. Eveready traded 38,000 shares and is down 16.667% now
over a 12 month Period. Investors are capitulating.

Eveready Profits Warning and share data here www.rich.co.ke
http://bit.ly/7wIhlM

Sameer Africa slumped 8.459% to close at 5.95. Sameer Africa traded a
5.85-6.75 range and 83,800 shares.

Sameer Africa share price data and Profits warning www.rich.co.ke
http://bit.ly/dCsksT

Mumias Sugar closed 1.036% easier at 9.55 and that makes it a 38.387%
retreated from 2010 Highs set 9th August this Year. Mumias Sugar
traded 1.035m shares.

BAT eased a shilling to close at 279.00 and traded 46,500 shares.

KenolKobil was unchanged at 10.00 and traded 972,300 shares.
Total traded 7,800 shares and was unchanged at 29.00.

Bamburi Cement traded 6,500 shares at an unchanged 196.00.
ARM traded 2,300 shares and closed at 170.00.
Portland did not trade.

Unga traded 40,600 shares and closed at 10.95.

Crowen Berger traded 10,000 shares and closed at 32.00.

CarBacid was unchanged at 146.00 and traded 1,000 shares.
BOC Gases did not trade.



N.S.E General

The NSE ran its Losing Streak into the 7th Day.
The NSE20 fell 40.34 points to close at 4395.17.
The NASI was down 0.50 points at 98.0082.
Market Cap was 1.169168 Trillion versus 1.175200 Trillion.
Equity Turnover was 452.106m versus 310.85m.
EABL was the most active Stock. KPLC ran a further 1.1% lower and now
sits 15.38% above the Rights Price of 19.50. Eveready and Sameer got
hammered as Shareholders cut their Positions at any Price.



by Aly Khan Satchu (www.rich.co.ke)
 
 
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November 2010
 
 
 
 
 
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