STOCKS NEWS Reuters Results diary
Stocks on the move Real-time Equity News
1328GMT 13Jan2010
Massmart drops after trading update
Shares in Massmart drop nearly 3 percent as the South African wholesale retailer forecasts as much as 24 percent fall in first-half profit.
Massmart is trading 2.98 percent lower at 86.40 rand by 1325 GMT, lagging a slightly lower JSE mid cap index.
'The trading statement was disapponting for the market, that is the reason the stock is falling,' says Johannesburg-based trader.
(Reuters Messaging: alison.raymond.reuters.com@reuters.net)
1021GMT 13Jan2010
Safaricom gains on foreign investors demand
Shares in Kenya's leading mobile phone operator Safaricom rise 5.78 percent on foreign investor appetite for the blue chip, traders say.
At 1002 GMT, Safaricom trades at 5.45 shillings, after touching 5.50 shillings ($0.072) earlier in the session, compared with the previous day's close of 5.20 shillings. It last traded at that level in Sept. 2008 according to Reuters data.
'It has rallied 21 percent since the beginning this Year. The move has been on heavy volume,' says Aly Khan Satchu, an independent trader and analyst.
Traders say investors are pleased with the growth potential of the firm's data business and a recent decision by the country's communications regulator not to lower 3G license fees for other firms.
(Reuters Messaging: duncan.miriri.reuters.com@reuters.net)
($1=75.45 Kenyan Shilling)
0935GMT 13Jan2010
KenGen jumps 7 pct on capacity expansion plans
Shares in Kenya Electricity Generating Company (KenGen) surge 7.5 percent thanks to improving investor sentiment after a slew of announcements about the firm's capacity expansion plans.
KenGen shares are trading at 15 shillings ($0.199) compared with Tuesday's close of 13.95 shillings. The firm produces about 80 percent of electricity in east Africa's largest economy.
'There is a lot of optimism on the utility company. It has been announcing a number of measures to boost capacity,' says Eric Musau, an analyst at Renaissance Capital.
Continuing rains are also giving rise to hopes the firm may be able to retire in the coming months all or part of emergency fuel-powered capacity, installed due to drought-induced falls in hydro generation, he adds.
(Reuters Messaging: duncan.miriri.reuters.com@reuters.net)
Keywords: MARKETS AFRICA STOCKSNEWS
COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
Stocks on the move Real-time Equity News
1328GMT 13Jan2010
Massmart drops after trading update
Shares in Massmart drop nearly 3 percent as the South African wholesale retailer forecasts as much as 24 percent fall in first-half profit.
Massmart is trading 2.98 percent lower at 86.40 rand by 1325 GMT, lagging a slightly lower JSE mid cap index.
'The trading statement was disapponting for the market, that is the reason the stock is falling,' says Johannesburg-based trader.
(Reuters Messaging: alison.raymond.reuters.com@reuters.net)
1021GMT 13Jan2010
Safaricom gains on foreign investors demand
Shares in Kenya's leading mobile phone operator Safaricom rise 5.78 percent on foreign investor appetite for the blue chip, traders say.
At 1002 GMT, Safaricom trades at 5.45 shillings, after touching 5.50 shillings ($0.072) earlier in the session, compared with the previous day's close of 5.20 shillings. It last traded at that level in Sept. 2008 according to Reuters data.
'It has rallied 21 percent since the beginning this Year. The move has been on heavy volume,' says Aly Khan Satchu, an independent trader and analyst.
Traders say investors are pleased with the growth potential of the firm's data business and a recent decision by the country's communications regulator not to lower 3G license fees for other firms.
(Reuters Messaging: duncan.miriri.reuters.com@reuters.net)
($1=75.45 Kenyan Shilling)
0935GMT 13Jan2010
KenGen jumps 7 pct on capacity expansion plans
Shares in Kenya Electricity Generating Company (KenGen) surge 7.5 percent thanks to improving investor sentiment after a slew of announcements about the firm's capacity expansion plans.
KenGen shares are trading at 15 shillings ($0.199) compared with Tuesday's close of 13.95 shillings. The firm produces about 80 percent of electricity in east Africa's largest economy.
'There is a lot of optimism on the utility company. It has been announcing a number of measures to boost capacity,' says Eric Musau, an analyst at Renaissance Capital.
Continuing rains are also giving rise to hopes the firm may be able to retire in the coming months all or part of emergency fuel-powered capacity, installed due to drought-induced falls in hydro generation, he adds.
(Reuters Messaging: duncan.miriri.reuters.com@reuters.net)
Keywords: MARKETS AFRICA STOCKSNEWS
COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
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