Bloomberg News

Sub-Sahara Africa Stocks: Ashaka Cement, Diamond Bank, Fan Milk

October 28, 2011

Oct. 28 (Bloomberg) -- Kenya’s 20 Share Index had its biggest weekly gain since August 2010, and traded up 2 percent to 3,450.33 by the close in Nairobi, the capital.

The Nigerian Stock Exchange All-Share Index closed at its highest in more a month, gaining 1.4 percent to 20,901.73 by 2:30 p.m. in Lagos, according to data compiled by Bloomberg. The Ghana Stock Composite Index declined for a second day, shedding 0.3 percent to 1,003.55 by the 3 p.m. close in Accra. Namibia’s FTSE/Namibia Overall Index rose for a second day, adding 1.2 percent to 832.67 by the close in Windhoek. Mauritius’ SEMDEX Index slumped 0.6 percent to 1,893.73.

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

Ashaka Cement Plc (ASHAKACE NL), the Nigerian unit of Lafarge SA, climbed 5 percent to 14.7 naira after posting a 29 percent jump in profit for the nine months to Sept. 30.

Diamond Bank Plc (DIAMONDB NL), a Nigerian lender, retreated 1.7 percent to 3.55 naira after reporting a nine-month loss of 703.4 million naira ($4.5 million).

Fan Milk Ghana Ltd. (FML GN), a maker of ice cream and dairy products in the West African nation, rose 0.9 percent to 2.23 cedis, the highest in more than three weeks, as investors bet full-year profit will increase. The company’s nine-month net income climbed to 12.7 million cedis ($7.9 million) from 12.4 million cedis a year earlier, it said on Oct. 24.

Guaranty Trust Assurance Plc (GTASSURE NL), a Nigerian insurer, gained 2.3 percent to 1.35 naira after reporting a 20 percent jump in profit for the nine months to Sept. 30.

--Editors: Linda Shen, Wojciech Moskwa

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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