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Kapchorua Tea Survives the Downturn

Kapchorua Tea posted an 18.9% jump in profitability in 2013 to stand at KES 180 million from KES 78 million. Sales dropped marginally to KES 1.35 billion from KES 1.4 billion due to declining tea prices and increasing production in the period. Its stock price has remained robust, up 28% year-to-date and 132% since 2008.

12:00 am Thursday March 13, 2014 – Rufus Mwanyasi (myStocks Contributors)

Housing finance finishes strong in 2013

Housing finance full year results for 2013 are out. The consolidated group's profit after tax stood at KES 995 million, a 33.9% growth from the 2012 full year results.

10:05 am Monday March 03, 2014 – Odhiambo Ramogi

22 January - Kenyan Markets with Daniel Chege

ABNís David Williams speaks with Daniel Chege, Equity and Fixed Income Dealer at Cannon Asset Managers, looking at: Treasury warning of investor fears of political violence around the elections, Kenya Airways woes around executives and fleet, Safaricom a darling of the NSE; Close 20-yr bond sale today

5:18 am Wednesday January 23, 2013 – Cannon Asset Managers (Cannon Asset Managers)

6 December - Kenya Market Update with Daniel Chege

Daniel Chege, Fixed Income Dealer at Cannon Asset Managers, looking at: NSE 20 share index closed 0.86% lower; Eveready EA posted a KSH 68.9mn in FY PBT; Co-Op bank has produced a loan of $60mn from the IFC

11:53 am Thursday December 20, 2012 – Cannon Asset Managers (Cannon Asset Managers)

November 1, 2012 - Kenya Market with Daniel Chege

Recap of day's trading

4:48 am Thursday November 22, 2012 – Cannon Asset Managers (Cannon Asset Managers)

Kenya Market Outlook - August 2012

In July 2012 inflation rate dropped more than the market had anticipated to 7.74% and subsequently interest rates have fallen with 91-days TBills currently at 8.58% as at 24th August 2012. The fall in inflation gives MPC room for further CBR cut during next month meeting and concern on stability of Kenya Shilling to be addressed by CBK continually mopping up liquidity.

8:25 am Friday September 28, 2012 – Cannon Asset Managers (Cannon Asset Managers)

Panic Reaction from the Monetary Policy Committee!

The panic reaction from the MPC has been set off by the public outcry that has followed the exchange rate crossing the psychological barrier of USD 1 = KES 100. The public outcry has led to the setting up of a task-force by the Prime Minister to advise on the exchange rate as well as a parliamentary enquiry into the causes of the decline in the Kenya Shilling.

10:38 am Wednesday October 12, 2011 – Cannon Asset Managers (Cannon Asset Managers)

Infrastructure Bond IFB1/2011/12 - September 2011

The Central Bank of Kenya proposes to issue a new Infrastructure Bond IFB1/2011/12 on 3rd October 2011. This is the 5th Infrastructure Bond being issued by the CBK.

2:55 pm Saturday October 01, 2011 – Cannon Asset Managers (Cannon Asset Managers)

Interest Rates - September 2011

Overnight interest rates went on a roller coaster ride in August, rising from 6.7% on 10th August to a high of 28.40% on 26th August and then down below 6% by 9th September. In our last month's newsletter we had forecast that our Pessimistic scenario of interest rates was starting to play out and that the 91-day Treasury bill would rise to 11-12% in the next few months.

2:55 pm Saturday October 01, 2011 – Cannon Asset Managers (Cannon Asset Managers)

Relevance of Central Bank Rate - September 2011

In the statement issued by the Monetary Policy Commitee (MPC) following their meeting, the committee noted that "the market had confused the role of the CBK Overnight Window rate as a signal of monetary policy". Further it was clarified that the "Overnight Window Rate" was in fact an outcome of the CBR, a penalty, and a measure of market tightness

2:54 pm Saturday October 01, 2011 – Cannon Asset Managers (Cannon Asset Managers)
 

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