Bloomberg News

British American Investment of Kenya Climbs for First Day in 12

November 15, 2011

Nov. 15 (Bloomberg) -- British American Investment Co., which started trading on the Nairobi Stock Exchange on Sept. 8, climbed for the first time in 12 days.

Shares in the diversified financial services group rose 3.9 percent to 5.35 shillings as of 12:31 p.m. in Nairobi.

British American’s 14-day relative strength index closed at 23.6 yesterday when the stock ended trading at a record low of 5.15 shillings, according to Bloomberg data.

A level below 30 signals to some technical analysts that the stock is poised to rise. The RSI identifies possible turning points in indexes or securities by measuring the degree to which gains and losses outpace each other in a given period.

--Editors: Ana Monteiro, Alan Purkiss

To contact the reporter on this story: Eric Ombok in Nairobi at eombok@bloomberg.net

To contact the editor responsible for this story: Shaji Mathew at shajimathew@bloomberg.net


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