Bloomberg Kenya’s biggest banks are the key to further gains for the benchmark Nairobi stock index this year as investors bet on the nation’s recovery from the pandemic, according to EFG Hermes Kenya. The Nairobi All Share Index has gained 16% in 2021 to the highest in more than three years. Expectations that the central bank will approve risk-based lending, …

Bloomberg Investors are getting excited about Big Tech again. With resurgent doubts about the strength of the post-pandemic boom, traders are shifting back into the tech behemoths whose dominance of high-growth industries leaves them poised to keep sales and profits rising even if the economy slows. That’s fuelled a run of outperformance since the beginning of June and marks a …

Bloomberg All through the pandemic era, buying stocks when corporate America delivers its quarterly reporting card has been a reliable winning trade. But the streak may be coming to a close. While second-quarter profits may look robust when banks start reporting on July 13, the forecast earnings increase of 64% for all firms in the S&P 500 Index probably marks …