africatodayonline.blogspot.com -
Fri Feb 28, 2014 9:33am EST
* Extension of sugar import limits boost Mumias
* Corporate demand for dollars tapers off
(Adds closing rate, shares)
By Duncan Miriri
NAIROBI, Feb 28 (Reuters) - Kenya's main share index edged
up on Friday, led higher by sugar maker Mumias and banks, while
the shilling was barely moved after demand for dollars fizzled
out.
The benchmark NSE-20 share index rose 0.4 percent
to close at 4933.41 points while the all-share index
shed 0.06 points to close at 141.05 points.
Mumias Sugar jumped 8 percent to close at 3.85
Kenyan shillings ($0.04) a share after regional trade grouping
COMESA extended measures to limit sugar exports into Kenyan
market by a year, protecting local producers for longer.
Shares in NIC Bank rose by 0.8 percent to close at
62.50 shillings each after the lender posted 11 percent growth
in last year's pretax profit and said it would issue a bonus
share for every 10 held.
"People were pleased with the numbers," said Daniel Kuyoh, a
research analyst at Kingdom Securities, adding the bonus share
issue would boost liquidity in NIC's shares.
In the foreign exchange market, the shilling closed at
86.20/30, barely moved from the previous day's close of
86.25/35, pointing to lack of corporate demand for dollars.
The shilling had been under pressure at the start of the
week as importers in the energy and manufacturing sectors
stocked up on dollars to meet their end-month obligations.
"Interest rates are fairly stable. Liquidity is also good.
Most of the fundamentals are holding tight so it is keeping the
shilling stable," said a trader with a commercial bank.
Year-on-year inflation fell to 6.86 percent in
the year to February from 7.21 percent previously, official data
showed on Thursday, in line with market expectations and it did
not impact the foreign exchange rate.
In the debt market, securities worth 1.79 billion shillings
were traded, down from a volume of 2.21 billion shillings traded
on Thursday.
...........................Shilling spot rates
.....................Shilling forward rates
.......................Cross rates
..................................Local contributors
.......................Central Bank of Kenya Index
.....................Kenyan Bonds contributor pages
...............Treasury bill yields
..................Central bank open market operations
.........................Horizontal repo transactions
, ................Daily interbank lending rate
.............................Kenya Bond pricing
..................Real time Africa economic data
<ECI & AFR> ...........................African economic news
.................................NSE-20 Share Index
.................................NSE All Share Index
...........................FT NSE Kenya 15 Index
.......................... FT NSE Kenya 25 Index
SPEED GUIDES:
($1 = 86.3500 Kenyan shillings)
(Reporting by Duncan Miriri; Editing by Edmund Blair and Alison
Williams)
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