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Kenya Weekly Market Wrap - 19 August 2016


Equity market commentary
The indices reversed losses, with NASI, NSE 20 and NSE 25 up 2%w/w (+0.7% YTD), 0.4%w/w (-14.3% YTD) and 0.6%w/w (-5.9% YTD) respectively. Equity turnover rose to USD 37.7m from USD 17.6m last week. Foreign investor participation rose to 68.1% from 55.9% previously. The investors remained net buyers for the fifth straight week with net foreign inflows rising to USD 15.6m the highest in 2016.
The top five movers, Safaricom, KCB, Equity Bank, EABL and Barclays Bank were also the top receivers of net foreign inflow jointly accounting for 89.4% of net inflows. Of the five, Safaricom, which was also the top mover, accounted for 42.9% of total net foreign inflows. The telco also touched an all-time high of KES 21.75 within the week. So far, Safaricom is the best performing counter YTD, up 30.4%.
Net foreign outflows stood at USD 731.8k with Britam and Co-op Bank accounting for 90.3%. Co-op Bank was the only lender to record net foreign outflows with National Bank, NIC Bank and StanChart recording no foreign investor activity. NIC Bank, which announced flat 1H16 numbers, shed 3.9%w/w.
Headline News
Pump prices rise for fourth consecutive month. Central Bank of Kenya to open a temporary numismatic museum on 14 September 2016.
Company News
Co-operative Bank 1H16 EPS up 18.8%y/y to KES 1.52. StanChart 1H16 EPS up 32.6%y/y to KES 14.97, interim DPS up 33.3%y/y to KES 6.00. NIC Bank 1H16 PAT up 2.9%y/y; interim DPS remains unchanged at KES 0.25. Deacons 1H16 loss per share slightly narrows to KES 0.43. Longhorn Publishers FY16 PAT up 45.1%y/y; DPS rises to KES 0.35. KES 3bn paid out to Imperial Bank depositors. Largest fixed data provider in Kenya hit by a KES 3.4bn tax claim. Stanlib Fahari I-Reit 1H16 NAV at KES 19.52, trading at 27.5% discount. Bollore snatches EABL supply chain contract from DHL.

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NSE 20 Share
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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