Around the World's Markets: Nairobi

KENYAN STOCKS crashed to a six-year low as the market was hit by yet another poor corporate earnings report, this time from Nation Media Group.

The 20-share index lost 29.99 points or 1.22 per cent to close at 2,436.90 points, the lowest since 9 December 1993. Nation dropped 2 per cent after saying its pre-tax profits for the first half of 1999 had fallen 45 per cent. Shares in tea and coffee producer Kakuzi plunged 16 per cent in a delayed reaction from poor first-half results announced on 20 August.