Bloomberg News

Sub-Saharan Africa Equities: Co-Operative Bank Kenya; Oando

October 11, 2011

Oct. 11 (Bloomberg) -- The Ghana Stock Exchange Composite Index dropped for a seventh day, retreating 0.9 percent to 1,001.71 by 3 p.m. in Accra, the lowest close since Jan. 18.

Kenya’s All-Share Index declined 0.3 percent to 56.30 by the 3 p.m. close in Nairobi, extending its drop this year to 28 percent. The Nigerian Stock Exchange All-Share Index slipped 0.5 percent to 20,012.07 by the 2:30 p.m. close in Lagos, according to a statement on the bourse’s website. Namibia’s FTSE/Namibia Overall Index snapped four days of gains, weakening 0.4 percent to 797.91 by 4 p.m. in Windhoek. In Mauritius, the SEMDEX Index was little changed at 1,884.31 by the 1:30 p.m. close in Port Louis.

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

Co-operative Bank of Kenya Ltd. (COOP KN), a lender in the East African nation, fell 5 cents, or 0.4 percent, to 14 shillings, after Exotix Ltd. lowered its price estimate 16 percent to 16.8 shillings.

Oando Plc (OANDO NL), a Nigerian oil company, declined the most since Sept. 28, losing 1.2 naira, or 4.6 percent, to 25 naira. Oil fell from its highest level in more than two weeks in New York after European Central Bank President Jean-Claude Trichet said the region’s debt crisis threatens the financial system.

--With assistance from Eric Ombok in Nairobi. Editors: Ana Monteiro, Peter Branton

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

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


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