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Caution seen in Kenya bank shares after Equity Q3

Published 10/26/2009, 06:35 AM
Updated 10/26/2009, 06:39 AM

* NSE-20 index likely to be stable in week ahead

* Focus on Kenya Airways ahead of H1 results

* Cement firms to continue generating interest

By Duncan Miriri

NAIROBI, Oct 26 (Reuters) - Kenyan stocks looked set on Monday for a stable week after the benchmark index NSE-20 gained 12.65 points to 3,044.44 points last week, analysts said.

The following are some of shares expected to be in focus this week on the Nairobi Stock Exchange:

EQUITY BANK

Shares in Kenyan banks are likely to attract caution this week after one of the big firms, Equity Bank, reported flat profit for the first nine months of this year, analysts said.

"There maybe some caution for people who are holding banking stocks. We might see some movement there," said Reginald Kadzutu, an analyst at Amana Capital.

BAMBURI CEMENT, ATHI RIVER MINING

Cement companies are expected to be in focus this week after Bamburi Cement sold 11 percent in rival Athi River Mining last week.

"It is a good time to buy and the future looks good for the cement sector," said Leah Nyambura, an analyst at Dyer and Blair, citing the government's focus on infrastructure projects as a sign demand for cement will continue to grow.

KENYA AIRWAYS

The market is likely to keep its sights fixed on national carrier Kenya Airways ahead of its first-half results due out on Friday, the analysts added. (Editing by David Clarke and Tiisetso Motsoeneng)

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