Bloomberg News

Sub-Sahara Africa Stocks: KenolKobil, Oando, Safaricom Move

October 06, 2011

Oct. 6 (Bloomberg) -- Kenya’s All-Share Index declined for a second day, falling 0.2 percent to 56.79 by the 3 p.m. close in Nairobi, the capital.

In Mauritius, the SEMDEX Index declined for a second day, falling 0.3 percent to 1,881.05 by the 1:30 p.m. close in Port Louis. The Nigerian Stock Exchange All-Share Index dropped for the first day in six, sliding 0.9 percent to 20,507.64 by the 2:30 p.m. close in Lagos, according to a statement on the bourse’s website. The Ghana Stock Exchange Composite Index retreated 1.7 percent to 1,022.85 by the 3 p.m. close in Accra. Namibia’s FTSE/Namibia Overall Index advanced for a second day, gaining 1.5 percent to 770.05 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.

KenolKobil Ltd. (KNOC KN), a fuel retailer with operations in nine Africa countries, advanced for a third day, rising 30 cents, or 3.1 percent to 10 shillings. Oil rose for a second day in New York as shrinking U.S. crude supplies, better-than- expected economic data and signs Europe can control its debt crisis allayed concerns that fuel consumption will suffer.

Oando Plc (OANDO NL), a Nigerian oil company, rose to its highest in more than two weeks, climbing 1.26 naira, or the maximum daily limit of 5 percent, to 26.57 naira.

Safaricom Ltd. (SAFCOM KN), East Africa’s biggest mobile- phone company, gained 5 cents, or 1.7 percent, to 3.05 shillings. The company added 148,000 customers during the quarter and remained the market leader with a share of 69 percent compared with 68 percent in the previous three months, the Communications Commission of Kenya said in a statement on its website yesterday.

--Editors: Linda Shen, Alex Nicholson

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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