Bloomberg News

Sub-Sahara Africa Stocks: Tropical Paradise, Union Bank Nigeria

July 13, 2011

July 13 (Bloomberg) -- The Nigerian Stock Exchange All- Share Index fell for a second day, sliding 0.4 percent to 23,863.07 by the 2:30 p.m. close in Lagos, according to an e- mailed statement from the bourse.

Mauritius’s SEMDEX Index retreated for a fourth day, the longest losing streak since the same period through April 20, weakening 0.8 percent to 2,063.82 by the 1:30 p.m. close in Port Louis. Namibia’s FTSE/Namibia Overall Index climbed for the first day in four, gaining 0.9 percent to 849.92 by the 4 p.m. close in Windhoek. The Ghana Stock Exchange Composite Index advanced for the first day in five, strengthening less than 0.1 percent to 1,182.82 by the 3 p.m. close in Accra. Kenya’s All- Share Index was unchanged at 67.75 by the 3 p.m. end of trading in Nairobi.

The following shares rose or fell in sub-Saharan Africa, excluding South Africa. Stock symbols are in parentheses.

Tropical Paradise Ltd. (TPL MP), a Mauritian leisure operator, surged 15 percent to 7.2 rupees, the biggest gain since Jan. 13, after saying it bought a hotel in the country for 600 million rupees ($21 million).

Unga Group Ltd. (UNGL KN), a Kenyan grain miller, rose 5 cents, or 0.5 percent, to 10 shillings, the highest close in a week, after The Star reported the first shipment of duty-free corn had been delivered to the country facing drought and a grain shortage.

Union Bank Nigeria Plc (UBN NL), a lender bailed out by the country’s central bank in 2009, rose 5 kobo, or 2.2 percent, to 2.35 naira, the biggest gain since July 1, after saying it signed an agreement that will see it get $750 million in new capital.

--Editors: John Kohut, Peter Branton.

To contact the reporter on this story: Chris Kay in London at ckay5@bloomberg.net

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net


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