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Kenya's Stocks Rose for the Fourth Day


Kenya’s price-weighted All-Share Index advanced for the fourth straight day, rising 0.2 percent to 57.71 points at 9:50 a.m. in Nairobi.
The stocks of 12 companies rose, 15 declined and 28 were unchanged. The following were among the most active stocks on the Nairobi Stock Exchange.


TPS Eastern Africa Ltd. (TPSEA KN), which owns the Serena Hotels in Kenya, Uganda and Tanzania, jumped 9.8 percent to 45 shillings.
“It is more of an issue of the price resetting itself to where it was originally,” Francis Mwangi, an investment analyst with Nairobi-based African Alliance Kenya Securities Ltd., said in a phone interview. “It was one of the biggest losers yesterday, declining to 41 shillings from 43 shillings.”
National Bank of Kenya Ltd. (NBKL KN), a state-owned lender, climbed 5 percent to 42 shillings.
“Looks like someone had put a high price in the pre-bidding because yesterday there weren’t many shares available,” Eva Njuguna, a trader at Nairobi-based Sterling Investment Bank, said in a phone interview.


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