Umeme's stock gains in week-long rally at bourse

Umeme Ltd, the Ugandan energy company cross-listed on the Nairobi Securities Exchange, hit an all-time high last Friday, and analysts forecast further gain. The stock closed at Sh18.95 a share, gaining 20.7 per cent over a week earlier, though trading on thin volumes. Umeme was on a roll for the whole of last week and closed 1.23 per cent higher on Monday at Sh19.18. “On Umeme, you will notice, thin volumes on trade, starting from 200 shares on July 18, though we have seen upward supply over the last few trading sessions," said Daniel Kuyoh, a research analyst at Kingdom Securities. "...