Bloomberg News

Sub-Sahara Africa Stocks: Cooperative Bank, Shell Mauritius

November 24, 2011

Nov. 24 (Bloomberg) -- Mauritius’s SEMDEX Index fell for an eighth day, losing less than 0.1 percent to 1,890.17 at the end of trading in Port Louis, the lowest in more than two weeks.

Kenya’s All-Share Index declined 1.7 percent to 56.21 by the close in Nairobi. The FTSE/Namibia Overall Index advanced 0.5 percent to close at 795.46 in Windhoek. The Nigerian Stock Exchange All-Share Index fell for a second day, dropping 0.5 percent to 19,961.08 by the close in Lagos, according to a statement on the bourse’s website. The Ghana Stock Exchange Composite Index declined 0.2 percent to end trading at 982.91 in Accra, the capital.

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

Cooperative Bank of Kenya Ltd. (COOP KN), the East African nation’s fifth-biggest lender by market value, closed at its lowest since June 2010, falling 1.8 percent to 13.60 shillings. The company may report lower earnings as higher interest rates crimp borrowing, George Bodo, a research analyst at Nairobi- based ApexAfrica Capital Ltd., said in a phone interview.

Shell Mauritius Ltd. (SHELL MP), a fuel retailer in the Indian Ocean Island nation, rose to its highest in a month, adding 1.2 percent to 163 rupees. The company said 75 percent of its share capital will be transferred from Shell Overseas Holdings Ltd. to Vivo Energy Mauritius Holdings BV. on Nov. 30, with an offer price to other Shell shareholders of 161 rupees.

--Editors: Linda Shen, Ash Kumar

To contact the reporter on this story: Stephen Gunnion in Johannesburg at

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

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