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Williamson Tea Rises First Day in Four as Trading Volume Climbs

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Dec. 3 (Bloomberg) -- George Williamson Kenya Ltd., a tea grower, gained for the first day in four as trading volume surged to 50 times its three-month average.

The stock gained 8 shillings, or 4.8 percent, to 175 shillings by 11:45 a.m. in Nairobi.

“There were some block trades that pushed up the price,” Wycliffe Masinde, a research analyst at Nairobi-based Kestrel Capital East Africa Ltd., said in a phone interview. Trading volume was 150,000 shares, more than 5,000 percent higher than the average of the past three months, according to Bloomberg data.

George Williamson rose for the first time since Nov. 29 when it said half-year net earnings to September doubled to 442.2 million shillings ($5.5 million).

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

To contact the editor responsible for this story: Antony Sguazzin at asguazzin@bloomberg.net

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