Safaricom Declines Most Since August on Signal: Nairobi Mover
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Safaricom Ltd., Kenya’s biggest company by market value, fell the most more than a month after it was cut by HSBC Holdings Plc and as a technical level showing the stock may be overbought jumped to a five-month high.
The stock retreated 3.2 percent, the first decline in nine days, to 9.10 shillings by the close in Nairobi, the most since Aug. 28. More than 25 million shares were traded, equivalent to