UPDATE 1-Kenyan shilling little changed, stocks close higher

Mon Jun 30, 2014 10:24am EDT

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* Shilling little changed after June inflation data
    * Stocks end session higher, banking stocks help

 (Adds markets close, bonds, stocks)
    By George Obulutsa
    NAIROBI, June 30 (Reuters) - The Kenyan shilling 
showed little reaction to the latest inflation figures on
Monday, while stocks closed higher, led up by the banking
sector.
    At the 1300 GMT close of trade, commercial banks quoted the
shilling at 87.50/60 to the dollar, compared with Friday's close
of 87.60/70.
    The statistics office said inflation rose
slightly to 7.39 percent in the year to June, from 7.30 percent
in the previous month, staying within the government's
medium-term target of 5 percent, plus or minus 2.5 percentage
points. 
    "The (shilling trading) range will still be respected. Even
the inflation figures are very tame. There's nothing to report
there," Chris Muiga, senior trader at National Bank of Kenya,
said.
    Traders said they would turn their focus to the central
bank's Monetary Policy Committee (MPC), which is scheduled to
set rates next week.
    "What we would be keen to see is what the MPC says because
all their previous assumptions were that inflation is low,"
Duncan Kinuthia, head of trading at Commercial Bank of Africa.
Kinuthia said.
    On the Nairobi Securities Exchange, the main NSE-20 Share
Index was up 51.03 points, or 1.06 percent, to close at
4,885.04 points.
    Among the gainers were KCB Bank Group, Equity Bank
 and Co-operative Bank.
    KCB rose 2 percent to close at 51 shillings a share, while
Co-operative Bank was up 4 percent to end the session at 19.30
shillings a share and Equity Bank finished 1.1 percent higher at
46.00 shillings.
    "The banking sector has had so much interest, especially
from last year, so I think it's just interest from investors,
especially in those three stocks, because they see an upside
potential," Agnes Achieng, research analyst at Sterling
Investment Bank, said.
    On the secondary market, government bonds valued at 850.7
million shillings were traded, compared with Friday's 161.3
million shillings.
               ...........................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:
                                    
            
 
 (Additional reporting by Drazen Jorgic; Editing by Robin
Pomeroy)
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