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Satchu's Rich Wrap-Up
 
 
Monday 27th of August 2018
 
Morning,
Africa

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Macro Thoughts

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27-AUG-2018 :: The ZAR gets caught up in the CrossFire. @TheStarKenya
Africa


Robert Swan Mueller III [The Special Counsel and President Trump's
nemesis] has been ''flipping'' all of President Trump's henchmen and
even some of his hatchet-Men and his latest flip is Allen Weisselberg,
the Trump Organization’s Chief Financial Officer .The Book Keeper is a
Keeper of Secrets and you will recall it was the Book Keeper who
eventually sank Al Capone]. Weisselberg has been given an immunity
deal. This follows hot on the heels of the news that Trump’s attorney
Michael Cohen had turned on his former boss after a conversation with
his father in which the elder Cohen told his son that he did not
survive the Holocaust to have his name tarnished by the US president.
Whilst I remain of the view that Trump is a political Harry Houdini
[Harry Houdini (born Erik Weisz, later Ehrich Weiss or Harry Weiss;
March 24, 1874 – October 31, 1926) was a Hungarian-born American
illusionist and stunt performer, noted for his sensational escape
acts], things are indeed thick.

President Trump [under some mind bending pressure, self evidently] said

“I know all about flipping, for 30, 40 years, I’ve been watching
flippers,” Trump explained in an interview with Fox News. Trump lashed
out again and again at those he described as “rats” President Trump is
a linguistic warfare Specialist, who can forget the names he gave his
opponents: Crooked Hillary, Lyin’ Ted, Little Marco, ‘Low-energy’ Jeb
— were all devastating and terminal but his linguistics increasingly
resemble a ''Hoodlum'' or a Mafia Boss. Anyway, this is the domestic
US backdrop.

“I have asked Secretary of State @SecPompeo to closely study the South
Africa land and farm seizures and expropriations and large scale
killing of farmers.” tweeted Trump.

Senator CORKER characterised Trump's South Africa tweet as "a base stimulator"

CORKER:“Well, there are portions of those who support the president
that are—I’m sure that generates excitement. I mean, it’s—you know
what I’m saying...”

President Trump evidently studied the US Army War College Quarterly
1997. The US officer assigned to the Deputy Chief of Staff
(Intelligence), charged with defining the future of warfare, wrote
“One of the defining bifurcations of the future will be the conflict
between information masters and information victims.”

This information warfare will not be couched in the rationale of
geopolitics, the author suggests, but will be “spawned” - like any
Hollywood drama - out of raw emotions. “Hatred, jealousy, and greed -
emotions, rather than strategy - will set the terms of [information
warfare] struggles”.

47 farmers were killed in 2017-18, according to statistics from
AgriSA. However the same figures show that farm murders are at a
20-year low. My Point is we exist in a Post-Factual World and
President Trump is the contemporary Politician who has understood
this, intuitively if at times viscerally.

The rand dropped more than 1.5 percent against the U.S. dollar in
early trade on Thursday, before recovering a little. The Rand has been
a Roller-Coaster rallying +20.689% Q4 2017 through April 2018 this
year as everyone imbibed the Ramaphoria Kool-Aid but now has reversed
all its gains and since April has slumped -23.478%. If this goes
fully-fledged and it might well might because it plays like sweet
music to President Trump's base then I think the Rand is at risk of a
precipitous, asymmetric downside move as far as 17.00 to the Dollar.
Traders might consider buying 1 Year Maturity One Touch ZAR Puts with
a 17.00 strike.

I wrote on 13-AUG-2018 :: ''President Trump seems to be relishing his
financial warfare strategies. He has Khamenei on the run, Maduro in
Venezuela is being attacked by remote-controlled drone, Xi suddenly
looks ever so fragile'' Of course he has given President Erdogan a
fearful hiding as well. I reckon Trump has Cyril and Julius for
breakfast and Julius' natural bent is to escalate. Julius Malema, who
has led calls for the seizure of white-owned land, told Trump to keep
out of the debate.

“We want to send a strong message to the U.S. to stay out of South
Africa. You have caused enough problems in Africa,” he told
journalists.

President Cyril Ramaphosa’s spokeswoman said Trump was “misinformed”
Ramaphosa had announced on Aug. 1 that the ruling African National
Congress (ANC) plans to change the constitution to allow the
expropriation of land without compensation.

Steve Hofmeyr, a South African Musician, who is a foremost crusader
for white right-wing causes, – is speaking of a ''white Genocide'' inn
South Africa.

Data from the International Institute of Finance (IIF), an authority
on global portfolio flows, this week showed $800 million (12 billion
rand) bled out of South African bonds from the start of the month up
to Aug. 17, more than any other emerging market, including Turkey.
Between January and June foreign investors sold $2.5 billion worth of
South African bonds, the highest sell-off on record.

Jacob Zuma used to regale Friends with a rendition of  "Bring Me My
Machine Gun."

President Trump the linguistic and financial warfare specialist has
the Machine-Gun and the ZAR is in its line of Fire.

read more



"Sometimes in deep field I come across images so powerful that leave me speechless''
Africa


''Like this South Sudanese refugee child who had just finished drawing
a pair of slippers on the ground" 📷 by @DuniyaAslamKhan in Bidi Bidi
refugee settlement in Uganda

read more




Donald Trump will welcome Kenya's Uhuru Kenyatta to the White House on Monday FT
Law & Politics


Donald Trump will welcome Kenya’s Uhuru Kenyatta to the White House on
Monday for what will be only the second one-on-one meeting the US
president has held with an African leader since he took office last
year.
The first meeting, with Nigeria’s ailing 75-year-old Muhammadu Buhari
in April, ended with the US president telling aides he never wanted to
meet someone so lifeless again, according to three people familiar
with the matter.
Advocates of closer US-Africa ties hope his encounter with the
younger, more urbane Mr Kenyatta, 56, will breathe fresh life into a
relationship with a region that Washington is seen to have neglected
as other countries, notably China, develop ever-closer trade and
investment ties with the continent.
Under Emmanuel Macron, France is also trying to reset its relationship
with its former colonies in Africa and deepen commercial ties with
bigger economies in the Anglo sphere, such as Nigeria and South
Africa.
“Trump likes chemistry,” said a person in touch both with senior US
administration officials and the Kenya delegation preparing for
Monday’s meeting. “Africa has never been high on his radar but if the
big guy likes you he’ll find a way to make things work.”
Trump is widely criticised for not having an Africa policy. So it’s in
his interest to have something from [meeting Kenyatta] he can present
as a win
Joshua Meservey, senior policy analyst for Africa at the Heritage
Foundation, said: “Presidents Trump and Kenyatta have a pretty warm
relationship which can hopefully pave the way for more engagement with
Kenya and the rest of Africa.” The Kenyan president, he suspected,
might try to “carry the torch” for the whole continent.
After his meeting with Mr Trump, Mr Kenyatta will meet Theresa May,
the UK prime minister, in Nairobi next week before flying to Beijing
in early September for the Forum on China-Africa Co-operation summit
to be presided over by Xi Jinping, China’s president.
“A lot of the influence that America used to wield not too long ago is
pretty much diminished,” said Patrick Gathara, a political commentator
in Kenya. The increasing interest of other countries in Africa —
including Turkey, India and the Gulf States, as well as China — gave
African countries more diplomatic options he said.
Washington and Nairobi are expected to sign a series of commercial
agreements that could “create hundreds of American and Kenyan jobs”, a
White House official told the Financial Times.
Many expect Mr Trump will try to seal a deal over the plan by Bechtel,
the US engineering group, to build a $4.5bn four-lane motorway between
the port city of Mombasa and Nairobi for which financing has not yet
been fully secured.
Aubrey Hruby, co-founder of the Africa Expert Network, said Washington
was not focused enough on backing US commercial interests in Africa.
“France, China and other countries do direct commercial diplomacy,”
she said. “We get too bogged down in conflict of interest,” she said,
adding that Washington officials were reluctant to be seen backing one
US company over another.
While many in the administration are keen to develop relations with
the continent along business lines, in place of a traditional focus on
aid and security, Mr Trump’s repeated gaffes have hampered efforts to
push the continent higher up the agenda.
The US president appalled leaders on the continent by including
African nations among those he allegedly disparaged as “shithole”
countries in January. Last year, he mistakenly referred to Namibia as
“Nambia” during a public address.
Even last week, Mr Trump waded into a debate over land ownership in
South Africa, alleging “the large-scale killing of farmers”. The
incidents of such killings have fallen sharply.
“Trump is widely criticised for not having an Africa policy,” said
Grant Harris, former Africa director at the National Security Council.
“So it’s in his interest to have something from Monday he can present
as a win,” he said, adding that the US was considering a reciprocal
trade deal with Kenya.
Mr Harris said the onus was also on Mr Kenyatta whose country, like
many others in Africa, had borrowed heavily from China, leaving little
room to do business with the US.
A White House official said the Trump administration was “progressing”
with the development of an Africa strategy, adding that Kenya was one
of Washington’s closest security, counter-terrorism and trade partners
in Africa.
Two months ago, Tibor Nagy, a former US ambassador to Guinea and
Ethiopia, was finally confirmed as state department’s top Africa
diplomat.
Mr Kenyatta's reception in the Oval Office is a boost to a man who
once faced an indictment from the International Criminal Court in The
Hague for crimes against humanity over his alleged role in the mass
violence that followed the 2007 elections. The charges were ultimately
withdrawn in 2014.
“There won’t be any mention about corruption in Kenya or human
rights,” said Mr Gathara, who said he was sceptical about the Kenyan
president’s recent “war on corruption”. Under Mr Trump, he said, the
US was now also perceived to have “lax standards”, reducing its
authority to pressure anyone else.

Conclusions

There is a wide-open opportunity for President Kenyatta to present
himself as the African Interlocutor with respect to Africa and The
White House.

read more


Donald Trump's circus act is a sinister distraction FT
Law & Politics


The circus act children love the most is the one that is meant to
distract them. When the clown comes out, the kids have eyes for
nothing else. Little do they notice the scenery changes in the
background. Elephants may be replaced by trapeze artists. Flame eaters
supplant the lions. But the children stay riveted on the clown in the
spotlight.

Donald Trump is the circus maestro of our age. Since the US president
took office, he has upended America’s regulatory culture. Steve
Bannon, his former chief strategist, described it as the
“deconstruction of the administrative state”. Most of us are too
entertained to pay close attention. Much as the media love to hate Mr
Trump, he is the gift that keeps on giving. Traffic is booming.
Advertising dollars keep flowing in. Lollipops are on me!

Every now and then one notices blurry figures in the gloaming. One of
them is Betsy DeVos, Mr Trump’s education secretary, and scourge of
public education. Another is Mick Mulvaney, his budget director and
acting head of the Consumer Financial Protection Bureau. We were
briefly entertained by Scott Pruitt, the disgraced former head of the
Environmental Protection Agency — chiefly because he installed a
$43,000 soundproof telephone booth for his office that he used once.
Then there is Ryan Zinke, the secretary of the interior, and Ajit Pai,
chair of the Federal Communications Commission.

Together these figures are making a bonfire of federal regulations.
Doubtless some of them deserve to be burnt.

It seems to run in the family. Her brother, Erik Prince, made his
fortune as the founder of Blackwater, the mercenary outfit that was
shut down after its employees killed civilians in Iraq. He is lobbying
the White House to outsource US operations in Afghanistan to a 5,000
private army that would be headed by a corporate viceroy. Mr Trump is
said to be open to the idea.

A few blocks away, in another building populated by unentertaining
types, Mr Zinke’s interior department is shrinking protected areas of
natural beauty. Great chunks of America’s national monuments are being
opened to the drillers.

Mr Zinke has also lifted the ban on importing hunting trophies — the
giraffe, lion and other big game that hunters had to leave behind in
Africa. This is the same man who last week blamed the worst fires in
California’s history on the actions of “environmental terrorist
groups”.

Another rule worth keeping was one that protected consumers from
payday lenders— the outfits that charge usurious rates to people who
live on the margins. Mr Mulvaney wants to do away with that. The
payday lenders association held this year’s annual conference at one
of Mr Trump’s golf clubs in Florida. Described by one colleague as
like a “mosquito in a nudist colony”, Mr Mulvaney is shrinking the
best thing that arose from the ashes of the 2008 financial crisis. The
CFPB is meant to protect vulnerable Americans from the kind of
hoodwinking that led to the subprime mortgage crisis.

I could go on. But readers’ eyes may glaze over. Who wants to hear
about the end of the net neutrality rule, or breaches of the
presidential emoluments clause, when we could discuss how many
cheeseburgers Mr Trump eats every day? Why dwell on tax breaks for
property developers when we could be analysing Melania Trump’s
subliminal messaging?

At some point the circus will move on. What will it leave in its wake?
Mr Trump was elected on the vow of remembering the forgotten American.
He also promised to drain the swamp. These were serious pledges that
swayed many who might otherwise have been put off by Mr Trump’s
character.

In practice, he has handed the country to the highest bidders. The big
picture is a looting of public goods. Students will find it harder to
pay off debt. Financial outfits will find it easier to secrete
punitive clauses into contracts. People’s health will be damaged by
toxins and dirty air. He will leave Washington more corrupt, and
forgotten Americans more disenchanted, than he found them.

While Mr Trump keeps us all amused, his crew is turning the swamp into
a primeval soup.

read more


@Saudi_Aramco Flop: Beginning of the End for Crown Prince MBS' New Saudi Arabia @haaretzcom
Law & Politics


The old guard at Aramco and in the government didn't want to disclose
as much information about the secretive company as the New York and
London exchanges were insisting on. MSB reportedly was fixed on the
prestige of a $2 trillion valuation rather than thinking about cold
calculations of the market.

What’s become evident is that Vision 2030 is not the daring and
transformative process that MBS and the glitzy marketing campaign
surrounding it have promised. Like beauty, it's skin-deep,
MBS is correct in seeing the need to get Saudi Arabia off its oil fix.

But MBS has two problems. The short-term one is that he is trying to
finance this transition at a time when oil prices are low, which has
left the country running huge budget deficits (this year something
like 7% of GDP). The Aramco IPO was supposed to help pay some of
Vision 2030’s bills. Running deficits would be okay as an investment
in the future if Vision 2030 was going to work, but the odds are
stacked against it.

MBS’ vision of an economy of innovative, educated Saudis and the
dynastic rule of the al-Saud family are a complete mismatch. MBS has
shown not the slightest inkling of ceding any royal prerogatives --
least of all his own -- of absolute rule. Indeed, tolerance of dissent
has diminished, as evidenced by the arrest of female activists and the
threat of imposing the death sentence on one.

read more



13-NOV-2017 :: In all the history books I have read, its probably wisest to operate on one front not two and certainly not three
Law & Politics


In all the history books I have read, its probably wisest to operate
on one front not two and certainly not three. The desperate impulse to
act is also up against a four- year deadline. The speed of decline in
FX reserves produces a 48 month shelf-life.

read more




13-AUG-2018 :: President Trump seems to be relishing his financial warfare strategies
Law & Politics


13-AUG-2018 :: President Trump seems to be relishing his financial
warfare strategies. He has Khamenei on the run, Maduro in Venezuela is
being attacked by remote-controlled drone, Xi suddenly looks ever so
fragile.

read more


Amazingly short statement of Deputy Commerce Minister Wang Shouwen's trip to the US: "constructive, frank" & "keep in touch for the next step"
Law & Politics


Amazingly short statement of Deputy Commerce Minister Wang Shouwen's
trip to the US: "constructive, frank" & "keep in touch for the next
step" 中美就双方关注的经贸问题进行了建设性、坦诚的交流,双方将就下一步安排保持接触

read more


EMPIRE OF DEBT China 'colonising smaller countries by lending them massive amounts of money they can never repay in bid for world domination' @TheSun
Law & Politics


CHINA is "colonising" smaller countries by lending them massive
amounts of money they can never repay, it's been claimed.

The country is accused of leveraging massive loans it holds over small
states worldwide to snatch assets and increase its military footprint.

Owing more than $1billion (£786million) in debts to China, Sri Lanka
handed over a port to companies owned by the Chinese government on a
99-year lease.

And Djibouti, home to the US military’s main base in Africa, also
looks likely to cede control of a port terminal to a Beijing-linked
firm.

America is eager to stop the Doraleh Container Terminal falling into
Chinese hands, particularly because it sits next to China's only
overseas military base.

Last March ex-Secretary of State Rex Tillerson said Beijing encouraged
"dependency using opaque contracts, predatory loan practices, and
corrupt deals that mire nations in debt and undercut their
sovereignty".

read more




S&P500 rose to an all-time high following Fed Chair's remarks at Jackson Hole @Schuldensuehner
International Trade


S&P500 rose to an all-time high following Fed Chair's remarks at
Jackson Hole that lead to flattening of 2s10s yield spread <20bp.
Powell supported gradual pace of rate increases while stating that he
doesn't see signs of elevated risk of overheating from an inflation
standpoint.

read more


Currency Markets at a Glance WSJ
World Currencies


Euro 1.1607
Dollar Index 95.22
Japan Yen 111.14
Swiss Franc 0.9839
Pound 1.2845
Aussie 0.7312
India Rupee 70.005
South Korea Won 1114.29
Brazil Real 4.1065
Egypt Pound 17.9012
South Africa Rand 14.2895

read more









So, back to the stock, it trades at 100x fake 2024 earnings, there is a fake buyout, a real SEC investigation, and numerous competitive threats @CGrantWSJ
World Currencies


So, back to the stock, it trades at 100x fake 2024 earnings, there is
a fake buyout, a real SEC investigation, and numerous competitive
threats. Also, and hear me out, there’s a chance Elon didn’t tell us
all the bad news. $TSLA

Commodities

read more









Zimbabwe's president takes oath as U.S censure hangs over vote @ReutersAfrica
Africa


“I exhort us to commit ourselves collectively to develop our
motherland... what unites us is greater than what could ever divide
us,” Mnangagwa told election participants in his inauguration speech.

He also reaffirmed pre-election pledges to revive Zimbabwe’s crippled
economy and settle outstanding debts with foreign lenders, and
reiterated he would call an independent inquiry into a “regrettable
and unacceptable” army crackdown following the vote in which six
people died.

“Now is the time for us all to unite as a nation and grow our
economy,” Mnangagwa said.

read more



Today is Sunday, it feels like Sunday, it looks like Sunday, the calendar says it is Sunday @DavidColtart
Africa


Today is Sunday, it feels like Sunday, it looks like Sunday, the
calendar says it is Sunday. But in the absence of any primary evidence
proving that it is Sunday, it cannot possibly be Sunday- so I will
just treat it like any other day today.

read more


Controversial businessperson Zunaid Moti has been detained in Germany.
Africa


In a statement released on Saturday night, attorney Ulrich Roux
confirmed that Moti was detained when he tried to depart Munich this
week. The detention is in relation to an Interpol red notice which was
issued against Moti for the alleged theft of a rare R500-million pink
diamond linked to a Russian businessman in Lebanon.

The Moti Group’s operations in Zimbabwe have drawn intense media
scrutiny but Moti has won over key allies in recent months including
Lord Peter Hain in the UK, and forensic investigator Paul O’Sullivan
in South Africa.

read more









big ticket blow-up in any African country might all be the catalyst [Zambia looks a likely candidate]. @BDliveSA's @RonakGopaldas
Africa


According to Aly-Khan Satchu, a Nairobi-based investment analyst,
"liquidity has so far muted political risk and concerns from some bond
vigilantes are that African governments are dangerously overloaded on
debt. Therefore this could well be the calm before a storm. The
question is what might trigger this pivot. A non-benign interest rate
structure, a sharp deterioration in the US-China trade war or big
ticket blow-up in any African country might all be the catalyst
[Zambia looks a likely candidate].

I think the rally has farther to go, that there will be more
granularity and pricing about African eurobond pricing, which has
become very homogenous and that we are at some point in the future
going to witness a big asymmetric downside move."

read more



Kenyan president to meet with Trump on security, trade
Africa


NAIROBI, Kenya (AP) — Kenya’s president will meet with President
Donald Trump on Monday as East Africa’s commercial hub emerges from
months of electoral turmoil.

President Uhuru Kenyatta is the second African leader to meet with
Trump at the White House. Nigeria’s president visited earlier this
year.

Kenyatta’s office says he and Trump will focus on trade and regional
security. Kenya is the third highest recipient of U.S. security aid in
sub-Saharan Africa, according to the Security Assistance Monitor.

Both Kenya and the U.S. have troops in Somalia, and the
al-Qaida-linked al-Shabab extremist group has crossed the border to
carry out dozens of attacks inside Kenya, calling it retribution for
sending troops. Nearly 100 Kenyan police officers have been killed
since May 2017 in bombings and ambushes.

The Kenyan president during his Washington visit also is meeting with
U.S. business leaders to promote investment.

The meeting with Trump will help Kenyatta’s image after a crisis in
which the Supreme Court overturned the August presidential election,
citing irregularities, and the opposition boycotted the fresh vote,
said political commentator John Githongo.

Kenyatta then hosts British Prime Minister Theresa May on Thursday.

Kenya’s foreign minister has said this is May’s first visit to Africa
since taking office in July 2016.

Foreign Affairs Cabinet Secretary Monica Juma has said May’s choice of
Kenya shows the country’s importance among the community of nations.

Kenyatta and May are expected to discuss strengthening existing
security agreements, Kenyan officials have said.

read more




We expect inflation in H2'2018 to experience upward pressure #Cytonninvest @CytonnInvest
Africa


We expect inflation in H2’2018 to experience upward pressure, partly
due to the expected rise in fuel and transport prices with the
introduction of 16.0% VAT on petroleum products as from September 2018

read more



private sector credit growth touched a high of 25.8% in June 2014 dropped to 2.0% levels after the capping of interest rates, rising slightly to 4.3% in June 2018 @CytonnInvest
Africa


private sector credit growth touched a high of 25.8% in June 2014, and
has averaged 13.0% over the last five-years, but dropped to 2.0%
levels after the capping of interest rates, rising slightly to 4.3% in
June 2018

read more



The Kenyan shilling has appreciated by 2.4% year to date #Cytonninvest @CytonnInvest
Africa


Improving diaspora remittances, which increased by 71.9% y/y to USD
266.2 mn from USD 154.9 mn in June 2017 and 4.9% m/m, from USD 253.7
mn in May 2018

read more








 
 
N.S.E Today


Donald Trump will welcome President Uhuru Kenyatta to the White House
on Monday for what will be only the second one-on-one meeting the US
president has held with an African leader since he took office last
year.
The first meeting, with Nigeria’s ailing 75-year-old Muhammadu Buhari
in April, ended with the US president telling aides he never wanted to
meet someone so lifeless again, according to three people familiar
with the matter. [Financial Times]
There is a wide-open opportunity for President Kenyatta to present
himself as the African Interlocutor with respect to Africa and The
White House, at this moment.
The S&P500 rose to an all-time high following the Fed Chair's remarks
at Jackson Hole and the Nasdaq is also at a record high.
The Dollar has been biding its time Monday after Powell's Jackson Hole comments.
The Kenya Shilling is the second best performing currency in the world
in 2018 and has appreciated by 2.4% year to date. @CytonnInvest is
alluding to
''Improving diaspora remittances, which increased by 71.9% y/y to USD
266.2 mn from USD 154.9 mn in June 2017 and 4.9% m/m, from USD 253.7
mn in May 2018''
Tesla's Elon Musk about which @CGrantWSJ tweeted
 ''So, back to the stock, it trades at 100x fake 2024 earnings, there
is a fake buyout, a real SEC investigation, and numerous competitive
threats''
Nigeria's economic recovery slowed in the second quarter. GDP growth
came in at 1.5% year-on-year, lower than the 2% achieved in Q1 via
Paul Wallace
Zambia's Eurobond yields are set to a 13% handle. Eurobond Yields are
a Canary in the Calming
“There are no discussions on a possible Fund-supported programme given
that the authorities’ borrowings plans compromise the country’s debt
sustainability, and undermine its macroeconomic stability,” IMF
Yields on both the 10-year and 30-year GOK Eurobonds both declined by
0.1% points to 7.7% and 8.6% from 7.8% and 8.7% the previous week
[Cytonn]
The NSE is currently trading at a price to earnings ratio (P/E) of
13.8x and a dividend yield of 3.9%.
The Nairobi All Share slumped -1.65 points lower to close at 171.33
The Nairobi NSE20 retreated 36.89 points.
Volumes clocked just 270.347m.
EABL slumped to a 6 and a half year closing Low



N.S.E Equities - Commercial & Services


Safaricom closed unchanged at 29.00 and traded 1.674m shares worth
48.165m. Safaricom is rock solid at these levels and will accelerate
through 30.00 violently in due course.



N.S.E Equities - Finance & Investment


Equity Group closed -1.00% at 49.50 and traded 3.154m shares worth
156.15m. Equity Group is +29.55% on a Total Return Basis in 2018 and
reported a +17.408% H1 2018 EPS acceleration and the regional
Subsidiaries gained serious traction increasing their profitability by
62% to Kshs 2.8bn in the first half of 2018. The model is portable and
There is headroom.
DTB retreated -4.66% to close at 184.00 on light trading of 900 shares.
COOP Bank was sold off -3.614% to close at 16.00 and traded 281,100 shares.



N.S.E Equities - Industrial & Allied


EABL sank -5.36% to close at 194.00 a 65 month closing Low. EABL
traded 600 shares with Buyers seemingly on strike. EABL

KenGen closed unchanged at 6.55 and traded 147,700 shares. The Noise
in and around the Energy Sector is allowing Medium Term Investors to
pick up KenGen for a song at these levels.

Crown Paints rallied +9.027% to close at 78.50 and traded 3,600
shares. Crown Berger is -1.875% Year To Date.
--



by Aly Khan Satchu (www.rich.co.ke)
 
 
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August 2018
 
 
 
 
 
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