The Nairobi All Share firmed 0.434% to set a fresh all high for the 3rd consecutive session.
Safaricom CEO Bob Collymore
Safaricom sailed through 10.00 like it was not even there to close at 10.05 and was trading as high as 10.30 +3.5175% at the line.
The insurers were the flavour of the session with Pan Africa +8%, Britam +7.56%, CIC +6.32% and Liberty +4.78%. The Nairobi NSE20 Index eased 28.55 points to close at 5024.08. This index is entirely unlikely to dip much below 5,000.
Equity turnover was 524.124m. Co-op Bank reported a +17.3% acceleration in Q3 2013 earnings per share. Eveready issued a FY profits warning.
Safaricom rallied +1.005% and crossed 10.00 for the first time since it was listed and closed at 10.05. Safaricom was trading +3.02% at 10.25 at the finale and traded shares as high as 10.30 +3.5175%.
Safaricom traded 6.695m shares worth 67.392. Safaricom has now returned +99.009% in 2013 [and that is without accounting for the dividend] , which is more than twice the Nairobi All Share return over the same period.
Safaricom has already signalled a healthy uplift in the dividend pay-out via upgrading their full year free cashflow guidance. 10.00 is set to prove price support, going forward.
Kenya Airways eased 1.145% to close at 12.95. KQ rallied +45.59% September 27th through November 13th and closed that day at 14.05 and a 15 month high and has corrected 7.82% off that 15 month high from a week ago. This pull back in a very powerful rebound looks complete ahead of a move to 14.50.
TPS Serena ticked 1.12% higher to close at 45.00 and traded 5,500 shares. Thin volumes confirm this level is materially below equilibrium.
Cooperative Bank posted a 17.3% acceleration Q3 2013 earnings per share and improved +0.23% to close at 18.00 and traded 368,100 shares.
There was buy side demand for 3x the volume traded during the session, at the finish line. COOP trades on a Trailing PE of 9.782, which is inexpensive versus its peer group.
Kenya Commercial Bank firmed 1.063% to close at 47.50 and is +59.66% in 2013 and within 5% of an all time of 50.00 set last month.
Equity Bank closed unchanged at 35.50 and is +49.47% in 2013 and 5.333% below a record closing high of 37.50 set last month.
I&M Bank was high ticked +3.603% to close at 115.00 while Housing Finance firmed 0.869% to close at 29.00. Centum eased 0.8% to close at 31.00.
Pan Africa Insurance Company rallied 8% to close at 81.00 and trades on a PE of 11.142. Britam rallied 7.56% to close at 12.10 and trades on a trailing PE of 8.643.
CIC Insurance rallied +6.32% to close at 5.05 whileLiberty Kenya rallied +4.78% to close at 14.25.
Industrial and Allied
Eveready issued a FY Profits Warning retreating 3.39% to close at 2.85.
Bamburi Cement was the most actively traded share and traded 621,400 shares worth 130.494m and all at an unchanged 210.00. KenGen rallied 1.84% to close at 16.60 while Total Kenya rallied 5.208% to close at 25.25.
By ALY KHAN SATCHU, The Star