Bloomberg News

Sub-Sahara Africa Stocks: Centum Investment; CFC Stanbic Move

November 25, 2011

Nov. 25 (Bloomberg) -- Mauritius’s SEMDEX Index fell for the ninth day, declining 0.3 percent to 1,884.59 by the end of trading, the longest losing steak since February 2010.

Kenya’s All-Share Index weakened for a second day, losing 0.8 percent to 55.74 in Nairobi. The Nigerian Stock Exchange All-Share Index gained for the first day in three, rising 0.8 percent to 20,122.14 in Lagos, according to a statement on the exchange’s website. The Ghana Stock Exchange Composite Index slid for a second day, easing 0.1 percent 982.21 in Accra. The FTSE/Namibia Overall Index climbed for a second day, increasing less than 0.1 percent to 795.87 in Windhoek.

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

Centum Investment Co. (CENTUM KN), East Africa’s biggest publicly traded investment company, lost 2.5 percent to 13.65 shillings, the lowest since April 22, on concern a decline in Kenyan stock prices will crimp earnings.

“Centum’s full-year earnings will suffer just like they did in the half year, given how the equities market is performing,” Alistair Gould, head of trading and business development at Nairobi-based Old Mutual Securities Ltd., said by phone today.

CFC Stanbic Holdings Ltd. (CFCB KN), a Kenyan lender, tumbled 3.9 percent, to 42.75 shillings, the lowest in a week. The Nairobi-based bank said it will offer an additional 200 million shares to fund its planned expansion.

--Editors: Linda Shen, Robert Valpuesta

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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