Dollar Gains on strong October Non-farm Employers Data

The Kenyan shilling commenced the week’s trading on a mixed note against its major international and regional peers. The shilling extended further weakening against the US Dollar (USD) by 0.22% to settle at 102.37 following the USD rallying after Friday’s data indicated that US non-farm employers had created a net 271,000 jobs in October, supporting a more bullish stance on a US Fed rate hike set for December 16th 2015. However, gains were registered against the Euro (EUR) by 0.59% to 110.43 as the European Central Bank sees emerging market slowdown and low inflation rates curbing European growth rates in 2015. Further gains were registered against the Sterling Pound (GBP) by 1% to settle at 154.59.

Foreign Investor Participation

The foreign participation commenced the week’s trading slightly edging up, accounting for 69.09% of total turnover against 30.91% of local participation. Sell off activities offset buy side, resulting in net outflows worth KES 13.33Mn relative to KES 51.84Mn net outflows on Friday.

Foreign investors accounted for 69.09% of the NSE turnover as compared to 67.64% on Friday. Foreign investors engaged in net accumulative activities, resulting in net outflows worth KES 13.33Mn.

East Africa Breweries Limited (NSE: EABL) was the day’s highest traded stock, recording a turnover of KES 477.89Mn to account for 28.85% of total market activity and 41.76% of foreign investor activity, followed by Safaricom Limited (NSE: SCOM) with a turnover of KES 37.59Mn representing 13.92% of total market activity and 20.15% of foreign investor activity.

Safaricom Limited (NSE: SCOM) posted the day’s highest net inflows worth KES 3.89Mn and the day’s highest net outflows, worth KES 6.21Mn, were posted by Cooperative Bank Limited (NSE: COOP).