Kenya | - Part 44

African Market Watch: Monday, 13th April 2015

BRVM [The Regional Stock Exchange, Cote d’Ivoire]: BRVM (The Regional Stock Exchange of eight West Africa) closed its trading session today, higher than the previous day for both BRVM 10 index and BRVM Composite. BRVM 10 index rose from 266.59 to 268.45 points, a gain of 0.70%. BRVM Composite index gained 0.56% to 258.63 against 257.18 points previously. The equity market capitalization was recorded at XOF 6,381.82 billion. Likewise, the traded value was recorded at XOF…

African Market Watch: Friday, 10th April 2015

Posted on by The Editorial Team

BRVM [The Regional Stock Exchange, Cote d’Ivoire]: BRVM (The Regional Stock Exchange of eight West Africa) closed its trading session today, lower than the previous day for both BRVM 10 index and BRVM Composite. The BRVM 10 index fell from 268.21pts to 266.59pts, a drop of 0.63%. The BRVM Composite index decreased by 0.46% to 257.18pts against 258.38pts previously. The equity market capitalization was recorded at XOF 6,345.97 billion. Likewise, the traded value was recorded at…

African Market Watch: Thurs, 9th April 2015

Posted on by The Editorial Team

BRVM [The Regional Stock Exchange, Cote d’Ivoire]: BRVM (The Regional Stock Exchange of eight West Africa) closed its trading session today, lower than the previous day for both BRVM 10 index and BRVM Composite. BRVM 10 index fell from 269.11pts to 268.21pts, a drop of 0.33%. BRVM Composite index decreased by 0.62% to 258.38pts against 259.98pts previously. The equity market capitalization was recorded at XOF 6,375.58 billion. Likewise, the traded value was recorded at XOF 248.091…

NSE records low bonds trade in March

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The bond was hugely oversubscribed as it is tax-free with a provision for a partial principal redemption (repayment) during its life. “People held back on trading in the secondary market because they were sparing liquidity to participate in the infrastructure bond,” said Alexander Muiruri, head of sales and research at Nairobi-based brokerage house Kestrel Capital. Despite the high liquidity shown by the market in the subscription of the 12-year bond, the yield actually went up…

Treasury raises Sh24bn from 12-year reopened bond

Posted on by The Editorial Team

The 12-year Sh25 billion infrastructure bond tap sale (reopening) has raised Sh24 billion, meaning the Treasury has achieved its target of netting Sh50 billion from the issue. All the subscriptions to the bond were accepted and allotted at the same fixed yield rate of 11.55 per cent like in the first sale of the bond. The initial sale of the infrastructure bond done in the last week of March was oversubscribed 106 per cent, attracting…

Kenya sells $260 mln of 12-yr infrastructure bond at extended sale

Posted on by The Editorial Team

NAIROBI (Reuters) – Kenya’s central bank sold 24.02 billion shillings ($259.96 million) worth of a 12-year infrastructure bond in an extended sale in which it aimed to raise up to 25 billion shillings. The bond was first auctioned on March 25, when its weighted average yield rose slightly to 11.556 percent from 11.263 percent at a previous sale in October. At the extended sale on Wednesday all the bids for the bond were allotted at…

Kenyan shilling steady, traders wary of central bank intervention

Posted on by The Editorial Team

NAIROBI (Reuters) – Kenya’s shilling was steady on Thursday, and traders said it was expected to stay in a tight band as market players traded warily anticipating the central bank would sell dollars. At 0805 GMT, commercial banks quoted the shilling at 92.65/85, compared with 92.70/75 at Wednesday’s close. “After the last intervention that happened on Tuesday, the market yesterday was very quiet indeed,” said a senior trader at one commercial bank. The shilling had…

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