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Kenya Weekly Market Wrap - 02 September 2016


Equity market commentary
The NASI, NSE 20 and NSE 25 indices recorded narrower declines after they retreated marginally by 0.7%w/w (-8.0% YTD), 0.9%w/w (-21.1% YTD) and 1.9%w/w (-16.9% YTD) respectively. Equity turnover recorded the highest weekly value in 2016 at USD 85.72m compared to last week’s USD 26.3m. Breaking their six week trend, foreign investors turned net sellers with net outflow of USD 1.16m. Their participation increased to 84% compared to 57.9%.
Safaricom, KCB and Equity Group were the top movers after they jointly accounted for 81.3% of market activity. Safaricom and EABL recorded the highest net foreign inflows of USD 3.7m and USD 1.9m which represented 54.5% and 27.3% of total net foreign inflows respectively. Despite this, EABL shed 7.9%w/w while Safaricom failed to recoup last week’s losses after edging up 1.5%w/w.
Headline News
Japan pledges USD 30bn investments into Africa by 2018. Japan to invest USD 269.9m in Mombasa SEZ. Central Bank seeks expansion of mobile money services under open platforms. Kenya could be planning to adopt blockchain technologies & digital currency. Value of mobile money transactions in 1H16 up 20.5%y/y. University of Nairobi Secures Japanese Space Satellite Project Collaboration. Facebook’s founder tours Kenya seeking new product ideas.
Company News
Total Kenya 1H16 EPS up 36.6%y/y to KES 4.10. Barclays Bank 1H16 EPS down 10.2%y/y to KES 0.75, DPS unchanged at KES 0.20. Kenya Re 1H16 EPS up 4.1%y/y to KES 2.23. Sanlam Kenya posts 1H16 loss per share of KES 0.89. I&M Holdings 1H16 EPS up 22.6%y/y to KES 9.95. TransCentury posts 1H16 EPS of KES 4.97, fully diluted KES 3.72. EA Cables breaks-even from loss, Kenya impresses. Nation Media 1H16 EPS down 15.6%y/y to KES 4.17, DPS unchanged at KES 2.50. Jubilee Insurance 1H16 EPS up 4.9%y/y to KES 21.15; DPS remains unchanged at KES 1.00. Sameer Africa issues FY16 profit warning

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stock PREV NOW %  
TOTL 16.50 18.05 9.39  
KAPC 80.00 85.00 6.25  
UCHM 3.70 3.90 5.41  
PORT 29.00 30.50 5.17