Markets in March anticipate company profits

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The market enters a new month with low inflation expectations; at 4.46 percent CPI has sunk to a 57 month low and the drought period expected to end with anticipation of long rains.

In the Market, March has kicked off with Barclays Bank’s 2017 net earnings coming in 6.4 percent lower at Sh6.9 billion. The Bank, however, opened trading at Sh11 having gained 0.5 percent on Wednesday.

Barclays Bank begins the cycle of earnings season for listed entities whose half and full year ends in December. Banks’ FY17 results should start trickling in, offering guidance for investors.

East African Breweries and BAT are also expected to close their books in March. EABL Ltd announced an Interim dividend of Sh2.00 on 27-Jan-2017; Books Closure 31-Mar-2017. Payment 21-April-2017.

Apex Capital says that MPC meeting on 19th March 2018 is unlikely to change the CBR rate given that the rate cap is still intact.

Thursday trading opens to similar cycles that have seen net selling, especially in the biggest counter Safaricom and EABL.

At the energy counters, Kenya Power will be the counter to watch after the Energy Regulatory Commission barred Kengen from breaking the monopoly of the power distributor.

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