Pursuits
Kenya Stocks Rally With Currency on Violence-Free Vote Hopes
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Kenya’s currency is trading at its highest level in 10 weeks and stocks are rallying as investors bet the East African nation will avoid a repeat of the prolonged violence that followed 2007 elections in today’s vote.
The Nairobi All Share index has advanced 13 percent this year, the third-best performance in sub-Saharan Africa after Nigeria and Ghana for dollar investors. The gauge trades at 11.9 times profit, compared with 11.7 times for the MSCI Frontier Markets Index, which is up 7 percent. The shilling appreciated