We adapt the weekly review ending 18th Feb 2016 largely from the CBK Weekly Bulletin which we found insightful.
Equities Market
Equities market registered 17 percent increase in shares traded but declined in all other market indicators. All the
equities indices, equity turnover and market capitalization declined in the week under review. This may be explained by fall in prices of three major counters; Safaricom, Kenol Kobil and Equity bank, which accounted for the biggest proportion of trading.
Bond Market
Total bonds traded increased to KSh 5,517.19 million from last week’s volume of KSh 5,010.40 million. However, the number of deals traded increased by 36 over the week, with 92 bonds traded over the week ending February
18,2016. The increased activity could be attributed to investors’ selling of old stock to buy new bonds offered in the primary market. The FTSE Government Bond Index rose by 0.10 percent over the week ending February
18,2016, reflecting a slight decrease in secondary market yields.
Longhorn Full Year Results
NSE Kenya listed Publisher, Longhorn recorded a 70% growth in after-tax profit of Ksh 67.8 Million for the year ended December 2015 against Ksh 39.9 Million posted the previous year in the similar period. Read More
Nigeria
Nigerian lawmakers are looking to an unlikely source for a solution: social media with a Twitter hashtag, #BuyNaijaToGrowTheNaira. It calls on Nigerians to buy local products to save the Naira and boost the economy.
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