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Wednesday 14th of May 2014 |
Morning Africa |
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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 on the Front Page of the site http://www.rich.co.ke
I look forward to hosting the “Banking CEO of the Year” for 2014 National Bank Chief Executive Officer Munir Ahmed at #Mindspeak May 17th |
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央视网视频 > 深度国际 > 《深度国际》 20140509 中国“新殖民主义论”背后 CNTV Africa |
本期介绍 本期节目主要内容: 中国两位领导人习近平、李克强接连踏上非洲这片大陆,中非关系迎来全面合作升级版。伴随中非合作的日趋成熟,“中国在非洲搞新殖民主义”的传言也传来。西方还认为中国在非洲进行基础设施建设,是为了其总体战略服务。中国和非洲有着相似的历史和命运,中非合作也将会完美诠释“休戚与共”的丰富内涵,任何别有用心的论调都将会不攻自破。 (《深度国际》 20140509 中国“新殖民主义论”背后)
The main content of this program: two Chinese leaders Xi Jinping, Li Keqiang foot on the African continent after another, ushered China-Africa relations and comprehensive cooperation upgrade. With the increasing maturity of China-Africa cooperation, "Chinese neo-colonialism in Africa to engage in" rumors also came. West also believes that China build infrastructure in Africa is to their overall strategy. China and Africa share a similar history and fate of China-Africa Cooperation will also be a perfect interpretation of "solidarity," the rich content, will have any ulterior motives argument proved unfounded. ("Deep International" 20140509 Chinese "neo-colonialism theory" behind)
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Currency Markets at a Glance WSJ World Currencies |
Euro 1.3718 Dollar Index 80.03 Dollar bounce entirely because of the Euro being wrestled lower by Draghi Japan Yen 102.14 Swiss Franc 0.8890 Pound 1.6860 Sterling touched $1.6996 on May 6, the highest since August 2009. Aussie 0.9403 touched 94.09, the highest since April 15. India Rupee 59.43 My Target is 57.50 South Korea Won 1026.75 touched 1,020.97 on May 9, a level unseen since August 2008. Korean Won Falls Most Since February on Suspected Intervention Brazil Real 2.2146 Egypt Pound 7.0551 South Africa Rand 10.2954 The Rand is at 2014 highs
The euro slid 1.1 percent in the past week, the worst performer after the Swiss franc among 10 developed-nation currencies tracked by Bloomberg Correlation-Weighted Indexes. The yen rose 0.2 percent while the dollar advanced 0.5 percent. The pound lost 0.1 percent. The Australian dollar led gains with a 1.4 percent advance.
Euro versus the Dollar 3 Month Chart 1.3718 [Draghi has persuaded the market of his intentions next month] http://quotes.ino.com/charting/index.html?s=FOREX_EURUSD&v=d3&t=c&a=50&w=1
Dollar Index 3 Month Chart INO 80.03 http://quotes.ino.com/charting/index.html?s=NYBOT_DX&v=d3&t=c&a=50&w=1
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“The Development Implications of the Fracking Revolution” Overseas Development Institute (ODI) Africa |
If Chinese shale gas production increases as predicted, African countries that provide its current supply could suffer greatly.
Angola and the Republic of Congo would incur the greatest losses — an estimated 13 percent drop in national earnings from energy exports. Guinea and Sudan could lose as much as 5 percent and Yemen 4 percent, according to the study.
Africa experienced similar decreases when the U.S. took to fracking. In the five to 10 years it took the U.S. to develop its infrastructure, African exporters lost $1.5 billion in gas and $32 billion in oil revenues.
Shale oil exports to the U.S. from OPEC's African members Angola, Algeria and Nigeria fell to their lowest in decades from 2011–12 — dropping 41 percent — largely because of the U.S. fracking revolution, the U.S. Department of Energy said.
In May 2013, Nigerian Oil Minister Diezani Alison-Madueke called U.S. shale oil a "grave concern." African OPEC countries produce oil of a similar grade to shale oil and therefore suffer some of the worst economic effects as a result of North America's fracking boom.
Countries like Yemen, Mozambique, Ghana, Congo, Trinidad and Tobago, and Mauritania could also experience losses and lower incomes as a result of China’s increased production, the report said.
South Africa All Share Bloomberg +7.87% 2014 http://www.bloomberg.com/quote/JALSH:IND
Dollar versus Rand 6 Month Chart INO 10.2954 http://quotes.ino.com/charting/index.html?s=FOREX_USDZAR&v=d6&t=c&a=50&w=1
South Africa's rand hits fresh 2014 highs vs dollar http://af.reuters.com/article/investingNews/idAFKBN0DT15320140513
South Africa's rand extended gains to a 2014 high of 10.2725 against the dollar on Tuesday, breaking through a 10.3000 technical level after a positive credit rating opinion from Moody's in the wake of last week's elections.
The rand appears to have snapped a more than 12 month down trend and that is a constructive forward indicator 07-APR-2014 http://www.rich.co.ke/media/docs/038NSX0705.pdf
Egypt Pound versus The Dollar 3 Month Chart INO 7.0551 http://quotes.ino.com/charting/index.html?s=FOREX_USDEGP&v=d3&t=c&a=50&w=1
Egypt EGX30 Bloomberg +24.24% 2014 http://www.bloomberg.com/quote/CASE:IND
8,307.19 63.41 +0.77%
Nigeria All Share Bloomberg -2.69% 2014 http://www.bloomberg.com/quote/NGSEINDX:IND
Nigeria signals readiness to talk to Boko Haram rebels http://www.reuters.com/article/2014/05/13/us-nigeria-girls-idUSBREA4A0B620140513
"The window of negotiation is still open," Minister of Special Duties Tanimu Turaki told Reuters by telephone.
Jonathan returned to Abuja on Tuesday from the Congo Republic, where he held talks with President Denis Sassou ahead of a regional summit in Paris on Saturday.
He asked parliament on Tuesday for a six-month extension of a state of emergency in the northeastern states of Adamawa, Borno and Yobe due to persistent attacks by Boko Haram. The emergency was declared last May and extended in November.
Yobe state Governor Ibrahim Gaidam rejected the proposal on the grounds that local people had suffered under the emergency and this harmed the government's counter-insurgency strategy.
“If they knew where they were, I certainly would send in US troops to rescue them, in a New York minute I would, without permission of the host country,” @SenJohnMcCain said on Tuesday. http://rt.com/news/158756-nigeria-schoolgirls-mccain-rescue/
“I wouldn’t be waiting for some kind of permission from some guy named Goodluck Jonathan,” he declared, in reference to Nigeria’s president.
Ghana Stock Exchange Composite Index Bloomberg +4.43% 2014 [BUT CRUSHED ON FX see below] http://www.bloomberg.com/quote/GGSECI:IND
Currency fall deepens Ghana's cocoa smuggling troubles http://in.reuters.com/article/2014/05/12/ivorycoast-ghana-cocoa-idINL6N0NY34S20140512
* Ghana's cedi has slipped 23 pct against dollar this year
* Farmers seeking to cash in on I.Coast's higher price
* Trafficking likely to continue, analysts say
By Joe Bavier and Sarah McFarlane
Ghana's falling currency has fuelled smuggling of as much as 100,000 tonnes of cocoa into neighbouring Ivory Coast since October, reversing a trend, industry sources said.
Cocoa smuggling between the world's two biggest cocoa producers is common, but over the past decade it has mainly involved Ivorian beans being taken illegally to Ghana.
That has changed this season.
Ghana's cedi currency, which the government has struggled to prop up, has fallen nearly 23 percent against the dollar so far this year, while Ivory Coast's euro-pegged CFA franc has remained stable, making the country's official farmer price around 24 percent higher than Ghana's.
Ghana focussing on "home-grown" strategy to tackle fiscal crisis -president http://af.reuters.com/article/ghanaNews/idAFL6N0NZ3L120140513
"What we are concentrating on is the preparation of a home-grown strategy of fiscal consolidation. It is our expectation that both our domestic and international partners will join us in the implementation of this strategy," he said.
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Atlas Mara Co-Nvest Ltd. (ATMA), the investment firm backed by former Barclays Plc (BARC) Chief Executive Officer Robert Diamond, disclosed plans for a share sale that would raise about $400 million for future acquisitions. Africa |
The company will sell 36.5 million shares for $11 apiece to investors, Atlas Mara said in a statement yesterday.
Diamond, who quit Barclays in July 2012 after the British bank admitted rigging global interest rates, and Ugandan entrepreneur Anish Thakkar raised $325 million for the venture in an initial public offering last year. They committed $20 million each of their own money to the company, which lists an address in Tortola, British Virgin Islands and has said it wants to focus on Africa.
The executives are targeting a region where a third of the economies are expanding at more than 6 percent, according to the World Bank. In March, Atlas Mara agreed to buy BancABC, which offers financial services in Botswana, Mozambique, Tanzania, Zambia and Zimbabwe, and said it will use the company as a springboard for further acquisitions.
Diamond last month hired former Barclays colleague John Vitalo as Atlas Mara’s CEO. Vitalo had been head of the London-based bank’s operations in the Middle East and North Africa since 2009.
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Kenya May Reschedule Payment of $600 Million Syndicated Loan Businessweek Kenyan Economy |
Kenya is considering rescheduling a $600 million syndicated loan as part of its discussions with commercial banks about repaying the debt that matures this month, Treasury Secretary Henry Rotich said.
The East African nation in its 2013-14 budget said it will settle the syndicated loan with the proceeds from a proposed Eurobond, an offering that has been repeatedly delayed since September. The government says it’s prevented by law from issuing sovereign debt until it pays two court awards, made in Geneva in 2012 and London last year, totaling 1.4 billion shillings ($16 million) that must be approved by parliament.
“We are discussing within and with the banks, and are considering various options including retiring the loan, and if we get an offer for rescheduling, we can consider that also,” Rotich said today by phone from the capital, Nairobi.
The Nairobi Securities Exchange would sell up to a 38 percent stake in an initial public offering (IPO) by the end of next month its chief executive, Peter Mwangi, said yesterday. http://www.iol.co.za/business/international/kenya-nairobi-bourse-to-list-38-stake-1.1687248#.U3Iqkr-XK8U
The Nairobi Securities Exchange-listed company announced a 15.4 per cent drop in net profit for the year ended December 2013 on the back of lower sales. http://www.businessdailyafrica.com/Corporate-News/TransCentury-hit-by-Sh1bn-loss-from-RVR-exit-/-/539550/2313672/-/12solmoz/-/index.html
TransCentury is set to book a Sh1 billion loss this financial year from its recent divestiture from Rift Valley Railways (RVR), the company has revealed in its latest annual report. http://www.businessdailyafrica.com/Corporate-News/TransCentury-hit-by-Sh1bn-loss-from-RVR-exit-/-/539550/2313672/-/12solmoz/-/index.html
TransCentury earned Sh3.78 billion in March from sale of its 34 per cent stake in RVR to Cairo-based private equity fund Citadel Capital.
Kenya Shilling versus The Dollar Live ForexPros 87.252 http://j.mp/5jDOot
Nairobi All Share Bloomberg +11.43066% 2014 http://www.BLOOMBERG.COM/quote/NSEASI:IND
152.27 -0.40 -0.26%
Nairobi ^NSE20 Bloomberg +0.92875% 2014 http://j.mp/ajuMHJ
4,975.39 +41.98 +0.85%
Every Listed Share can be interrogated here http://www.rich.co.ke/rcdata/nsestocks.php
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N.S.E Today |
The Nairobi All Share eased 0.65% to close at 151.28. The All Share has been on a real hot streak setting a Sequence of All Time Highs in April and June. The All Share is +10.706% in 2014 and is just 1% under a record High. The Nairobi NSE20 closed 34.39 points lower at 4940.99. The NSE20 spent a good deal of January above 5,000 but has been unable to poke its head over that level since then. Equity Turnover was 600.238m
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N.S.E Equities - Agricultural |
Limuru Tea traded 2,500 shares at 670.00 +8.06%. Limuru Tea is +34.00% in 2014 and given the proximity of its Tea Estate to Nairobi trades at the steepest discount to Net Asset Value of any counter in this niche. The Real estate value remains a steep multiple of the share price.
Sasini Tea and Coffee traded 3.47% lower to close at 16.70 and traded 70,200 shares.
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N.S.E Equities - Commercial & Services |
Safaricom eased 1.95% to close at 12.60 and traded 12.96m shares worth 163.411m. Safaricom has retreated 2.32% over 2 sessions since releasing its Full Year Earnings in a ''Buy the Rumour Sell the Fact'' type of profit taking trading pattern. Safaricom released muscular FY Earnings. The Core Voice Franchise posted double digit growth of 11.6%, M-Pesa posted a 22% Expansion and Mobile Data ramped 41% higher year on year. The Signal in the Noise was the eye popping +51.61% hike in the Dividend. The 2 two day drawdown has been real orderly and will be short lived. Data is the next big thing [in my opinion] and this was evidenced in the 41% year on year acceleration. Safaricom is +16.129% in 2014 and the dividend is worth a further 3.73%. Safaricom trades at a premium to the likes of MTN and with good reason and this premium will remain intact.
Kenya Airways improved 0.8% to close at 12.55 and transacted 659,900 shares. Kenya Airways reports Full Year Earnings June 4th and the commercial Director steered earnings expectations to a Full Year Profit, last month. This has not been reflected in the Price
Standard Group bounced 3.65% higher to close at 35.50. Shares are tightly held but the Times Media offer for Radio Africa has made Standard look cheap in the comparison. Standard is +36.53% this year with most of that happening since the announcement by Times Media.
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N.S.E Equities - Finance & Investment |
Housing Finance was a Big Winner at the Exchange rallying +7.6388% to close at 38.75 and traded 475,100 shares. HFCK is +23.015% in 2014.
Liberty Kenya traded 2nd at the Exchange and eased 3.6144% to close at 20.00 on heavy volume of 5.038m shares [representing 0.9778% of the company and a material position] worth 100.779m. Liberty Kenya has posted a 32.89% return this year and reported a FY PAT Acceleration of +28.91%. ''liberty Kenya's performance in 2013 was reassuringly sound across our main business activities'' was how the Company characterised its performance at the Full Year Earnings Release.
Jubilee Insurance tracked 2.88% higher to close at 321.00 and traded 14,600 shares. Jubilee is +14.64% this year and has lagged its Peers and hence has some space to the Upside.
CFC Stanbic closed unchanged at 148.00 a more than 60 month high and traded 403,000 shares worth 59.869m. CFC StanBic has soared +70.11% in 2014 and recently reported a +59% acceleration in Net Profit in Q1. Kenya Commercial Bank closed unchanged at 47.00 and traded 1.021m shares. KCB has lagged the Banking Rally in 2014 and -0.52% in 2014 and after a +33.72% Q1 2014 Profit After Tax acceleration has some headroom. Diamond Trust whose Rights issue is a racing certainty to be oversubscribed tracked 2.16% higher to close the session at 236.00. Diamond Trust is +22.91% this year. Barclays Bank closed unchanged at 16.95 and traded 1.991m shares.
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N.S.E Equities - Industrial & Allied |
ARM eased 0.51% to close at 84.00 and traded 253,000 shares. ARM reported a +12% Acceleration in FY Profit before Tax and will see significant margin expansion in H2 as its Clinker Capacity comes on line.
Eveready rallied 5.405% to close at 3.90 and traded 32,700 shares. Eveready has posted a +44.44% rally so far this year. Interestingly, a number of the smaller cap stocks have posted some blistering returns this year and this is a noteworthy development and speaks to the broadening out of the more than two year rally.
Unga rallied +4.95% to close at 26.50 and traded 9,000 shares. Unga has posted a +47.222% rally in 2014.
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