Bloomberg News

Sub-Saharan African Stocks Report: Crown Berger, Gamma, Guaranty

September 29, 2011

Sept. 29 (Bloomberg) -- Kenya’s All-Share Index declined for a ninth session, dropping 1 percent to 57.33 by the 3 p.m. close in Nairobi, the capital, extending its retreat this quarter to 19 percent.

The Nigerian Stock Exchange All-Share Index advanced for a second day, rising 0.6 percent to 20,145.24 by the 2:30 p.m. close in Lagos, according to a statement on the bourse’s website. Namibia’s FTSE/Namibia Overall Index dropped 2 percent to 768.06 by the 4 p.m. close in Windhoek. In Mauritius, the SEMDEX Index slipped for the first day in three, dropping less than 0.1 percent to 1,885 by the 1:30 p.m. close in Port Louis. The Ghana Stock Exchange Composite Index fell for a fifth day, sliding 0.9 percent to 1,077.02 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.

Crown Berger Ltd. (CRBG KN) closed at its lowest in more than a week, falling 2.25 shillings, or 8.3 percent, to 24.75 shillings. The Kenyan paint maker and retailer’s sales fell after the company raised prices as the weakening shilling led to higher input prices, Business Daily reported, citing Managing Director Rakesh Rao.

First City Monument Bank Plc (FCMB NL), Nigeria’s seventh biggest lender by market value, rose the most in more than two months, gaining 19 kobo, or 4.9 percent, to 4.06 naira. The bank’s shareholders approved the acquisition of FinBank Plc, which was bailed out by the cental bank in 2009.

Gamma Civic Ltd. (GML MP), Mauritius’s largest construction company by market value, advanced the most in seven weeks, gaining 16 rupees, or 4.2 percent, to 395 rupees. Profit surged fivefold to 810.2 million rupees ($28 million) in the 12 months to June 30.

Guaranty Trust Bank Plc (GUARANTY NL), Nigeria’s second- biggest lender by market value, rose for a second day, adding 60 kobo, or 5 percent, to 12.65 naira. Analysts say Standard Bank Group Ltd. (SBK SJ), Africa’s largest bank by market value, may consider buying a stake in Guaranty as it grows its presence in Africa’s second largest economy.

Innodis Ltd. (HWF MP), Mauritius’s largest food company by market value, rose to its highest in a week, adding 50 cents, or 1.3 percent, to 40 rupees. Net income surged 41 percent to 188.2 million rupees in the year through June.

Ireland Blyth Ltd. (IBL MP), Mauritius’s second-largest diversified company, dropped 50 cents, or 0.6 percent, to 78.5 rupee. Earnings per share fell 19 percent to 1.77 rupees in the three months to June 30 compared with a year earlier.

--Editors: Wojciech Moskwa, Linda Shen

To contact the reporter on this story: Stephen Gunnion in Johannesburg at sgunnion@bloomberg.net

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


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