Bloomberg News

Sub-Sahara Africa Stocks: Kenya Airways; Oceanic Bank of Nigeria

August 01, 2011

Aug. 1 (Bloomberg) -- The Nigerian Stock Exchange All-Share Index snapped three days of declines, advancing 0.4 percent to 23,916.90 by the 2:30 p.m. close in Lagos, according to an e- mailed statement from the bourse.

Namibia’s FTSE/Namibia Overall Index fell for a fifth day, the longest losing streak since the five days through Aug. 13, 2010, slipping less than 0.1 percent to 823.32 by the 4 p.m. close in Windhoek. Mauritius’s SEMDEX Index gained for a second day, increasing 0.4 percent to 2,034.33 by the 1:30 p.m. close in Port Louis. Kenya’s All-Share Index climbed for a second day, gaining less than 0.1 percent to 66.01 by the 3 p.m. close in Nairobi. The Ghana Stock Exchange Composite Index weakened less than 0.1 percent to 1,170.28 by the 3 p.m. close in Accra.

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

Cocoa Processing Co. (CPC GN), a Ghanaian chocolate maker, fell 1 pesewa, or 33 percent, to 2 pesewas, the steepest decline since July 26. Its nine-month loss increased to 9.9 million cedis ($6.6 million), from a loss of 5.9 million cedis a year earlier, the company said in a statement today.

Kenya Airways Ltd. (KNAL KN), sub-Saharan Africa’s third- biggest airline, gained for a second day, climbing 25 cents, or 0.8 percent, to 32.75 shillings. The Nairobi-based company said passenger numbers grew 28 percent in the three months through June to 850,908 and cargo tonnage increased 20 percent to 15,286 metric tons.

Oceanic Bank International Plc (OCEANIC NL), a Nigerian lender bailed out by the central bank in 2009, snapped five days of declines, rising 4 kobo, or 4.2 percent, to 1 naira, after Ecobank Transnational Inc., the Togolese lender that operates in more than 30 African countries, agreed to buy Oceanic.

--Editors: Ana Monteiro, Linda Shen

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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