Bloomberg News

Sub-Sahara Africa Stocks: Okomu Oil Palm, TransCentury of Kenya

July 14, 2011

July 14 (Bloomberg) -- Kenya’s All-Share Index weakened 0.4 percent to 67.49 by the 3 p.m. close in Nairobi, the lowest since March 2010.

The Nigerian Stock Exchange All-Share Index dropped for a fifth day, declining 0.6 percent to 23,715.42 by the 2:30 p.m. close in Lagos, the lowest close since Oct. 7, according to an e-mailed statement from the bourse. The Ghana Stock Exchange Composite Index weakened for the sixth day, falling 0.5 percent to 1,175.04 by the 3 p.m. close in Accra, the lowest since June 14. Mauritius’s SEMDEX Index fell for a fifth day, the longest losing streak since the six days through March 18, sliding 0.3 percent to 2,057.70 by the 1:30 p.m. close in Port Louis. Namibia’s FTSE/Namibia Overall Index gained for a second day, increasing 0.2 percent to 851.92 by the 4 p.m. close in Windhoek.

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

East African Cables Ltd. (EACL KN), the region’s biggest cable manufacturer, advanced 1.05 shillings, or 9.1 percent to 12.55 shillings, the largest gain since Feb. 9, after announcing a profit of 172.3 million shillings ($2 million) compared with a loss of 57 million shillings a year earlier.

Okomu Oil Palm Plc (OKOMUOIL NL), a Nigerian company that produces palm oil, gained 40 kobo, or 2.5 percent, to 16.50 naira, the highest since May 2010, on expectations for improved rainfall in the West African nation, according to Stanbic IBTC Bank Plc.

TransCentury Ltd. (TCL KN), a Kenyan investor in infrastructure projects, rose 14 percent to 57 shillings from a reference price of 50 shillings on its first day of trading on the Nairobi Stock Exchange.

--Editors: Linda Shen, Alex Nicholson

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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