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XINHUA NEWS SERVICE REPORTS FROM THE AFRICAN CONTINENT

 
Local investors in slight boost of Kenya’s bourse turnover   

By Bedah Mengo NAIROBI (Xinhua) -- Kenya’s Nairobi Securities Exchange (NSE) turnover on Thursday rose 71 percent to 5.4 million U.S. dollars on a volume of 14 million shares, up from 12 million worth 3.2 million dollars in the session a day before, boosted by increased local investors’ trading.

The investors’ participation stood at 52 percent as foreigners accounted for 48 percent of trading, with 66 percent of it being sales.

Safaricom, Kenya’s leading telecom, was the top mover, trading 3.7 million shares at 0.25 dollars representing 17 percent of the day’s traded value.

The banking sector accounted for 34 percent of the day’s traded value. Kenya Commercial Bank moved 2.5 million shares at 0.42 dollars to emerge the second top mover.

Scangroup, in the commercial and services sector, traded 2 million shares at 0.42 dollars as Equity Bank and Kengen closed the list of the top traded stocks.

ARM cement was among the top decliners, going down 5 percent in Wednesday’s session to close at a 12-month low of 0.12 dollars.

The NSE 20 Share Index was down 6.60 points to stand at 3,777.09 while the All Share Index (NASI) edged up 1.24 points to close at 166.02. The NSE 25 Share Index was up 18.28 points to stand at 4,329.00.

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EARLIER REPORTS:

Kenyan shilling falls slightly as political climate remains hostile

By Bedah Mengo NAIROBI (Xinhua) -- The Kenyan shilling weakened marginally on Thursday, rattled by continued uncertainty over repeat presidential polls.

On Tuesday, the electoral commission announced it had pushed the polls nine days back to Oct. 26 as political bickering following the release of full ruling by the Supreme Court on Wednesday continued.

While the Opposition National Super Alliance (NASA) leaders lauded the Supreme Court ruling, ruling party Jubilee faulted it, noting they had been robbed of victory as the political environment remained hostile.

The local unit traded at an average of 103.3 as in the previous session, but dropped a paltry 0.04 percent.

The Central Bank of Kenya (CBK) quoted the local currency to the dollar at 103.31 down from 103.28 in the previous session.

On Wednesday, the shilling had weakened against the dollar by 0.13 percent to close at 103.28 from 103.14 on Monday.

Commercial banks, on the other hand, placed the value of the shilling Thursday against the dollar at a weaker level of between 103.27 and 103.47, as traders noted the currency would soon start facing pressure from increased dollar demand from importers.

Against the British pound, the shilling weakened by a bigger margin, falling by 0.32 percent to close at 140.06 down from 139.62.

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