UPDATE 1-Banks drag top Kenyan stocks lower, shilling steady

Thu Feb 6, 2014 9:47am EST

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* Barclays, KCB shares weigh on the NSE-20
    * Shilling stuck in a rut against the dollar

 (Adds shares, closing rate)
    By Duncan Miriri
    NAIROBI, Feb 6 (Reuters) - Shares in some of Kenya's largest
banks fell on Thursday, weighing on the main share index, while
the shilling was stuck in a tight range against the dollar.
    The benchmark NSE-20 share index dropped by half a
percentage point to close at 4,843.90, after Barclays Bank of
Kenya and KCB Bank both slipped.
    Shares in Barclays fell 2 percent to close at 16.60
shillings, after it reported a decrease in 2013 profit and
dividends. The stock had dropped as low as 16.00 shillings
during the day. 
    Sterling Investment Bank trader Augustine Misoka said
Barclays' figures may have raised worries about KCB, which has
yet to report on the same period.
    KCB, which has exposure to the conflict-hit neighbouring
state of South Sudan, saw its shares fall 0.57 percent to 43.75
shillings at the close.
    The all-share index, which is market cap-weighted,
rose 0.7 percent to close at 137.72, reflecting gains in
telecoms operator Safaricom which jumped 4 percent to
close at 11.95 shillings.
    The NSE-20 is price-weighted, meaning moves in constituent
stocks have the same impact, as opposed to the all-share index
where a significant move in a large stock has more influence. 
    Safaricom, which is featured in both indices, is one of the
most-capitalised stock on the bourse and its shares are often
the most traded.
    In the foreign exchange market, the shilling finished the
day at 86.00/10, barely changed from the previous day's close of
86.05/15.
    Traders said the shilling could remain hemmed in a narrow
band of 85.80-86.30 until importers showed more appetite for
dollars.
    "We are expecting the situation might change next week. As
we get into the mid-month we might see demand from oil
importers," said a trader with a leading commercial bank.
    In the debt market, bonds worth 1.06 billions shillings were
traded, down from a volume of 3 billion shillings traded on
Wednesday.   
               ...........................Shilling spot rates 
                  .....................Shilling forward rates 
                           .......................Cross rates 
         ..................................Local contributors 
           .......................Central Bank of Kenya Index 
          .....................Kenyan Bonds contributor pages 
                          ...............Treasury bill yields 
        ..................Central bank open market operations 
        .........................Horizontal repo transactions 
         ,       ................Daily interbank lending rate 
              .............................Kenya Bond pricing 
             ..................Real time Africa economic data 
 <ECI & AFR> ...........................African economic news
          .................................NSE-20 Share Index
         .................................NSE All Share Index
             ...........................FT NSE Kenya 15 Index
             .......................... FT NSE Kenya 25 Index
  SPEED GUIDES:
                                    
            
 
 (Editing by George Obulutsa)
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