Uchumi Hits 4-Month High on Profit Speculation: Nairobi Mover
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Uchumi Supermarkets Ltd., Kenya’s best-performing stock this year, jumped to its highest level in four months on speculation the company may this month announce full-year profit increased at least 20 percent.
Shares in Kenya’s only publicly traded retail chain gained as much as 3.1 percent to 18.50 shillings and were trading 1.4 percent higher at 18.20 shillings by 12:50 p.m. in the capital, Nairobi. A close at this level will be the highest since May 24.