Browsing: “Global Trends”

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Bearish sentiment protracts continues being the dominant theme in the Kenyan equities markets as uncertainty clouds economic and business recovery from the effects of the ongoing global Covid-19 pandemic. On a year-to-date (YTD) basis, the Nairobi Securities Exchange 20-Share Index (NSE-20) and Nairobi Securities Exchange All Share Index (NASI) have posted negative returns of 24.2% and 14.1%, respectively. Notable out-performers YTD are Barclays ETF Gold (+22.1%), a security whose value is pegged on the value of gold (a safe haven asset); Kenya Airways (+39.5%) on a recent price rally; and Carbacid Investments (+12.0%). On month-to-date basis (MTD), there have been outstanding outperformers (Flame Tree Group 56.4%, Britam +47.3% and Kenya Power +30.9%). The key index counters, in particular in the banking sector, have retreated sharply, with Equity Group and KCB Group down 34.9% and 35.2% YTD, respectively. 

Also Read: Africa’s four MEGA TRENDS that are overcoming the global pandemic

The

Kenya’s National Carrier, Kenya Airways has suspended all flights from Guangzhou starting today, (Friday 31st January 2020).

The carrier noted that the flights would be suspended until further notice. This happens as the Corona virus spreads further in parts of China as well as parts of the world.

“We have temporarily suspended all flights to and from Guangzhou starting Friday the 31st January 2020 until further notice,” it said.

According to World Health Organisation (WHO), the outbreak now meets the criteria for a Public Health Emergency of International Concern and proposed the following advice to be issued as Temporary Recommendations.

“The Committee emphasized that the declaration of a PHEIC should be seen in the spirit of support and appreciation for China, its people, and the actions China has taken on the frontlines of this outbreak, with transparency, and, it is to be hoped, with success. In line with the …