Bloomberg News

Sub-Sahara Africa Stocks: Housing Finance; Rogers Mauritius

October 13, 2011

Oct. 13 (Bloomberg) -- Kenya’s All-Share Index slumped 1.8 percent to 55.48 by the 3 p.m. end of trading in Nairobi, the lowest close since November 2009.

The Ghana Stock Exchange Composite Index weakened 0.5 percent to 998.11 by 3 p.m. in Accra, the lowest close since Jan. 17. The Nigerian Stock Exchange All-Share Index slipped for a sixth day, falling 0.6 percent to 19,812.33 by the 2:30 p.m. close in Lagos, according to a statement on the bourse’s website. In Mauritius, the SEMDEX Index snapped three days of declines, climbing 0.1 percent to 1,881.30 by the 1:30 p.m. close in Port Louis. Namibia’s FTSE/Namibia Overall Index dropped 1.3 percent to 791.10 by 4 p.m. in Windhoek.

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

Housing Finance Ltd. (HFCL KN), Kenya’s only publicly traded mortgage lender, climbed 0.6 percent to 16 shillings gained for the first day in five trading sessions on expectations its net interest income will grow.

“There are positive sentiments about the third-quarter,” net interest income, said George Bodo, an equity strategist at Nairobi-based Apex Africa Capital Ltd, adding he forecasts quarterly net interest income growth of as much as 10 percent.

Rogers & Co. (ROGERS MP) rose 2 rupees, 0.7 percent, to 282 rupees. The Mauritian company’s Cim Insurance Ltd. unit will amalgamate with Swan Insurance Co., combining their stockbroking, asset and property management services, the companies said in regulatory statements.

--Editors: Ana Monteiro, Linda Shen

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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