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Old Mutual Securities | morning market wrap 23-April-2015


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Old Mutual Securities is a securities trading company licensed by the Capital Markets Authority for the purpose of facilitating trade on the Nairobi Securities Exchange (NSE). At Old Mutual Securities, we believe fact-based research is a crucial part of any investment decision. Research expertise is at the core of our value proposition to our individual and institutional clients

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Old Mutual Securities | morning market wrap 23-April-2015

  1. 1. Here are our views on the news making headlines today for Kenya: M-Pesa users can now send money through their mobile phones to recipients in seven African countries following the signing of an agreement with South African telecommunications company MTN. The inter- connect agreement between the region’s two biggest mobile money operators now enables convenient sending of cash between M-Pesa customers in Kenya, Tanzania, DRC and Mozambique, and MTN Mobile Money customers in Uganda, Rwanda and Zambia. Our View: The recent suspension of terror-linked money transfer service companies in Kenya portends a huge potential for the company as this would enable it rake huge monetary benefits yet adding to the economic growth of these seven countries. Last year, Safaricom was granted a license by the Central Bank of Kenya that opened the door for M-Pesa to offer outward cash transfer services. The firm’s cross-border operations had been restricted to inward remittances. The one-sided international cash transfer services only allowed it to move money into Kenya through partners such as Western Union and MoneyGram. Other news making the headlines;  The National Bank management on Wednesday said it has not been briefed on any merger plans with its State-owned rival Consolidated Bank.  Kenya Commercial Bank Group (KCB) has signed a Sh1.9 billion deal to finance expansion of Mombasa Road-based Ole Sereni Hotel.  Dormans Coffee Group has acquired 10 acres of land at the controversy-ridden Tatu City residential and commercial estate for construction of its global headquarters. (Source: Business Daily, The standard, The Daily Nation, OMS Research, Bloomberg, Reuters) News & Analysis |April 23, 2015 Market Summary 21/04//2015 22/04/2015 Chg. (%) All Share Index 172.96 171.79 -0.68 NSE 20 Index 5,073.86 5,042.85 -0.61 Deals 2,022 1,800 -10.98 Equity T/O(B) 0.676 0.654 -3.21 Mkt. Cap ( KES B) 2,418.97 2,428.96 -0.68 GAINERS Price % chg. FB (KESM) FS (KESM) Turnover (KES M) CROWN 110.00 8.9 - - 0.011 BAT 772.00 6.0 - - 2.316 TCL 17.65 5.7 - - 0.007 LOSERS Price % chg. FB (KES M) FS (KES M) Turnover (KES M) BRITAM 20.25 9.0 - 0.703 15.113 EAPCC 54.50 8.4 - - 0.060 KAPCHORUA 130.00 7.8 - - 0.013 MOVERS Price % chg. FB (KES M) FS (KES M) Turnover (KES M) EABL 320.00 -2.7 158.247 248.960 251.328 KCB 64.50 - 62.674 13.652 77.181 SCOM 17.05 -0.9 36.973 72.289 70.089 T-Bill Rates 20/04/2015 13/04/2015 91 Day 8.408 8.422 182 Day 10.252 10.248 364 Day 10.576 10.564 Key Indicators % Period Inflation (Monthly) 6.31 March 2015 GDP 5.5 3Q 2014 USD/KES 93.77 21 April 2015 CBR 8.50 January 2015 Queries call: +254 20 2241379/408/350 or email
  2. 2. DISCLAIMER This document was prepared under the supervision from the Research Department of Old Mutual Securities Limited (OMS) a company authorized to engage in securities activities in Kenya, and with partnerships in Uganda, Rwanda, and Tanzania. Data used in this document was gathered from reliable sources, but the analyst(s) and the publishers of this document do not hold themselves responsible for the accuracy or completeness of data used. The document provides the opinions, analyses and conclusions of the Research division only and is provided without any warranties of any kind. This document does not constitute an offer, or the solicitation of an offer, for the sale or purchase of any security. The reader should independently evaluate the investment risks and is solely responsible for their investment decisions. Whilst every care has been taken in preparing this document, no representation, warranty or undertaking (express or implied) is given and no responsibility or liability is accepted by OMSL or any employee of OMSL as to the accuracy, timeliness, completeness merchantability or fitness for any particular purpose of any such recommendation or information contained and opinions expressed herein. Old Mutual Securities Limited do not accept any liability for any direct or remote loss or damage arising out of the use of all or any part of the information contained in this document. This document is published for information purposes only and is not an offer to solicit, buy or sell any security of any kind. This document does not provide customized investment advice. It has been prepared without regard to the individual financial circumstances and risk and return objectives of individuals who receive it. The appropriateness of a particular investment will depend on an investor’s individual circumstances, risk tolerance and return objectives. The investments securities referred to in this document may not be suitable for all or certain categories of investors. The Research Division and Old Mutual Securities Limited have implemented Chinese walls procedures to prevent any conflict of interest. Additional information may be available to Old Mutual Securities Limited which is not discussed in this report. Further disclosure regarding Old Mutual Securities Limited policy regarding potential conflicts of interest in the context of investment research and Old Mutual Securities Limited policy on disclosure and conflicts in general are available on request. The opinions presented in this note may be changed without prior notice or cannot be depended upon if used in the place of the investor’s independent judgment. The historical performance of a security is not representative of the security’s future returns. Investment in securities can be highly risky as security prices may go down in value as well as up and you may not get back the full amount invested. Where an investment is denominated in a currency other than the local currency of the recipient of the research report, changes in the exchange rates may adversely affect the value, price or income of that investment. In case of illiquid investments for which there is no organized market it may be difficult for investors to exit investment positions or to obtain reliable information about its value or the extent of the risk to which it is exposed. The information contained in this document is confidential and is solely for use of those persons to whom it is addressed and may not be reproduced, further distributed to any other person or published, in whole or in part, for any purpose.