Browsing: stock market

• The first index which comes into effect immediately is the NSE 10 Index. This will monitor the performance of Safaricom, and lenders Co-op, Equity and KCB.
• It will also monitor KenGen, EABL, Kenya Re, Absa, Centum and NCBA Group stocks, which complete top ten listed firms. 
• The bourse has also unveiled the NSE-BI which is set to launch on October 1. The new index will focus on the bond market.

The Nairobi Securities Exchange (NSE) will track the performance of its top ten listed firms and monitor the bond market using two new market indices. The first index, which comes into effect immediately, is the NSE 10 Index. This will monitor the performance of the equities of telco Safaricom, and lenders Co-op Bank, Equity and KCB.

It will also monitor the equities of KenGen, EABL, Kenya Re, Absa, Centum and NCBA Group which complete the set of top …

Fast food giant, Simbisa Brands Ltd., the firm that controls high-profile restaurant chains across African markets, spurred its planned VFEX listing, notifying investors in a comprehensive roadmap that the deal may be through by December 2, 2022.

Simbisa, which has risen from its Zimbabwean roots to establish a formidable African network, executes its strategy through a string of high-end hospitality brands that include the flagship Chicken Inn, Pizza Inn, Creamy Inn and Bakers Inn, one of the country’s biggest bread producers.

It also holds the franchises for quick service restaurant chain; Rocomamas, Nandos and Steers, along with Galito

In a statement that disclosed Simbisa’s rationale to switch from the ZSE, the firm’s board rallied shareholders to give an emphatic nod to the transaction at an extraordinary general meeting scheduled for November 18, 2022.…

• Stock broker Morgan and Co to launch Made in Zimbabwe  ETF on June 17, 2022
• Made in Zimbabwe ETF to be listed by way of introduction
• The ETF will initially contain Zimbabwean Manufacturers as constituents

Award-winning stock broker Morgan and Co to launch Morgan and Co Made in Zimbabwe Exchange Traded Fund (ETF) on June 17, 2022, on the Zimbabwe Stock Exchange (ZSE). The ETF is going to be launched on the local bourse by way of introduction. According to a presentation by the broker, the fund is set to be largely constituted by manufacturing companies listed on the ZSE, with exposure to other non-manufacturing counters. In addition, the fund will be an actively managed fund with the objective of providing superior returns.

An exchange-traded fund (ETF) is a basket of securities that can be bought or sold on a stock exchange the same way a regular stock can. According …

With over 548 million registered mobile money users in sub-Saharan Africa, increased internet access and readily available mobile money solutions, the FX market has become accessible to the majority of Africans. 

The availability of mobile money payment solutions has seen an increase in the creation of fintech startups created solely to cater to Africans interested in trying their hand at trading in both local and international FX markets. 

Firms including Exness, XM.com, Avatrade, CM Trading, Tickmill and Chipper Cash among others all reported a significant growth in trading in 2020. A testament to the growing trading culture driven by fintech across the continent.…

Jurisdictions and stock exchanges have their own rules for what circuit breakers entail when they kick in, and for how long they are in place. Circuit breakers are triggered based on slightly different parameters on various exchanges, with trading suspended anywhere between 5 minutes – as is the case on the Hong Kong exchange – or an entire day.

New York Stock Exchange President Stacey Cunningham told CNBC that circuit breakers are a precautionary measure that can slow down for a minute.

The circuit breakers “are designed to slow trading down for a few minutes, to give investors the ability to understand what’s happening in the market, consume the information and make decisions based on market conditions,” she said.

A circuit breaker functions in the trading world the same way it does for electrical circuits in a home. When things get overloaded, it kicks in and shuts down the circuit.…

President Mnangagwa said his Government is convinced that the recent exchange rate movements were driven by negative sentiments by economic agents as opposed to economic fundamentals.

“These negative sentiments have been propagating adverse expectations on future inflation and exchange rate movements, thus giving rise to artificially high demand for foreign currency as economic agents hedge against expected high inflation,” he added.

The Government listed measures that are expected to restore macroeconomic stability, support the current robust economic recovery trajectory, boost economic confidence, increase the appeal of the local currency, preserve value for depositors and investors and deal with market indiscipline.…

The year began amidst a raging bull market. Global equities have made up all the post pandemic losses and are up 85% (as at 7 May 2021) since their March 2020 lows.

It’s hard to overstate how dramatic this market moment was, or how much panic was in the air. The horror of more than 700 people dying every day in New York City alone for instance was still in the future, with nurses and doctors wearing trash bags instead of medical personal protective equipment (PPE).

Data shows that many investors have missed the bull run altogether or are significantly underinvested, waiting for the ‘right’ opportunity to re-enter. Those who did stay invested through the volatility or re-entered the market in 2020 have a slightly different problem ‘Should I sell?’.

The Covid-19 crisis was the ultimate affirmation of what is called the golden rule of investing, buy and hold. Your …

Corporate announcements have been salient in the bourse in the review period. To be exact, the price action at the bourse has been weighed down by COVID-19 headwinds and corporate announcements have injected some freshness. We highlight some of them in this article. 

Carbacid Investments Plc served BOC Kenya Plc late November with a notice of intention to acquire all the ordinary shares of the latter at a price of KES63.50 per share. Due to the fact that BOC Kenya owns 14.85Mn shares in BOC Kenya (representing an ownership stake of 5.83%) and to be in compliance with Section 108 of the Companies Act, 2015, Carbacid’s acquisition offer is a joint affair together with Aksaya Investments. 

BOC Holdings, which has a 65.38% ownership stake in BOC Kenya, issued an irrevocable undertaking to the co-offerors to accept the acquisition offer albeit with certain conditions. That means that the shares to be …

During the quarter, there have been notable out-performers across the market. Standard Group (+35.7%), Jubilee Holdings (+11.6%), Flame Tree Group (+9.9%) and BOC Gases (+8.6%) gave investors the best returns so far in the quarter. This was against the general market return of 2.4% and -3.9% on the NASI and NSE-20, …