UPDATE 1-Kenyan shares extend winning streak; shilling steady

Wed Aug 6, 2014 10:42am EDT

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* Main share index rises 0.4 percent
    * Shares in KCB edge down 0.9 percent
    * Shilling unchanged

 (Adds shares, closing rate)
    By Duncan Miriri
    NAIROBI, Aug 6 (Reuters) - Kenyan shares rose for a fifth
straight day on Wednesday, although profit-taking on some
blue-chip stocks cut into the gains. The shilling was flat.
    The benchmark NSE-20 share index finished 0.4
percent higher at 5,022.36 points, inching toward this year's
high of 5,092.16 points, which it reached in January.
    Recent gains have been powered by expectations of lower
domestic interest rates after the government said it would cut
its planned local borrowing by close to half.
    Stella Wambugu, a research analyst at Standard Investment
Bank, said some of the top shares, such  as KCB Bank ,
lost some ground, which suggested investors were taking profits
after the bank's stock soared to its highest level this year in
the previous session.
    Shares in KCB closed down 0.9 percent at 58.00 shillings
each. East African Breweries added 2 percent to close
at 313 shillings per share ahead of its full year earnings
results due late on Thursday. 
    In the currency market, the shilling closed at
87.85/95, unchanged from the previous day, after the central
bank injected funds into the money markets, offsetting demand
for dollars from importers. 
    The central bank pumped in 13 billion shillings via reverse
repurchase agreements to alleviate a liquidity crunch caused by
delays in the government's disbursing funds to departments and
local authorities.  
    The volumes borrowed on the overnight interbank market fell
to 15.48 billion shillings on Tuesday from 22.26 billion
shillings a day earlier, but the weighted average lending rate
rose to 10.7589 percent from 10.5181 percent on Wednesday,
evidence of the tight liquidity still prevailing. 
    In the debt market, bonds worth 4.44 billion shillings were
traded, up from Tuesday's 3.28 billion 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:
    
 


 (Editing by Drazen Jorgic, Larry King)
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