Bloomberg News

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

October 14, 2011

Oct. 14 (Bloomberg) -- The Nigerian Stock Exchange All- Share Index climbed for the first day in seven, rising 0.3 percent to 19,869.85 by the close in Lagos, according to a statement on the bourse’s website.

Kenya’s All-Share Index weakened 0.9 percent to 54.99 by the end of trading in Nairobi, the lowest close since November 2009. The Ghana Stock Exchange Composite Index retreated for a second day, losing 0.2 percent to 995.53. In Mauritius, the SEMDEX Index rose 0.1 percent to 1,883.66. Namibia’s FTSE/Namibia Overall Index advanced 1.2 percent to 800.36.

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

First Bank of Nigeria Plc (FIRSTBAN NL), the country’s third-largest lender by market value, jumped 10 kobo, or 1 percent, its biggest increase since Sept. 30, to 9.10 naira, after reporting a 32 percent jump in third-quarter profit and agreeing to buy a stake in a Congolese bank.

Kenya Airways Ltd. (KNAL KN), sub-Saharan Africa’s third- biggest airline, slumped 1.25 shillings, or 4.7 percent, to 25.5 shillings. Shareholders approved a plan for the company to double its share capital.

Rogers & Co. (ROGERS MP), a Mauritian company with interests in financial services and aviation, surged 18 rupees, or 6.4 percent, to 300 rupees, the biggest gain since May 2009, after saying its insurance units will merge with those of Swan Insurance & Co and Anglo-Mauritius Assurance Society Ltd.

--Editors: Ana Monteiro, Alex Nicholson

To contact the reporter on this story: Chris Kay in Abuja at

To contact the editor responsible for this story: Gavin Serkin at

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