Bloomberg News

Sub Sahara Africa Stocks: Air Mauritius; Kenya Power Advance

October 31, 2011

Oct. 31 (Bloomberg) -- The Nigerian Stock Exchange All- Share Index fell for the first day in five, retreating 1.3 percent to 20,638 by 2:30 p.m. in Lagos, according to data compiled by Bloomberg.

Kenya’s All-Share Index gained 1 percent to 56.90 in Nairobi. The Ghana Stock Exchange Composite Index climbed 0.6 percent to 1,009.84 in Accra. Mauritius’s SEMDEX Index declined for a third day, slipping 0.6 percent to 1,883.01 by the end of trading. FTSE/Namibia Overall Index slumped 2.3 percent to 813.56 in Windhoek.

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

Air Mauritius Ltd. (AML MP), sub-Saharan Africa’s fourth- largest airline, rose for a second day, gaining 2.9 percent to 17.60 rupees, the highest close since Sept. 9, on speculation first-half results will be positive.

“It’s a speculative ascent in anticipation of probable positive half-year financial results to be announced by Nov. 15,” Bhavik Desai, a research analyst at AXYS Stockbroking Ltd., said by phone from Port Louis.

Kenya Power & Lighting Co. (KPLL KN), the nation’s sole electricity distributor, advanced 2 percent to 18.05 shillings, the highest close since Sept. 27, as staff called off plans to start a strike today.

National Salt Co. Nigeria Plc (NASCON NL), a manufacturer of the condiment, gained 2.3 percent to 4 naira, the highest since Oct. 7, after reporting a 33 percent increase in nine- month profit.

--Editors: Ana Monteiro, Stephen Kirkland

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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