Bloomberg News

Sub-Sahara Africa Stocks: First Bank of Nigeria, Stanbic Gain

December 16, 2011

Dec. 16 (Bloomberg) -- The FTSE/Namibia Overall Index snapped five days of declines, rising 2.7 percent to 838.04 in Windhoek, the highest in a week.

The Ghana Stock Exchange Composite Index fell, dropping 4.6 percent to close at 919.61, the lowest level since Jan. 4. The Nigerian Stock Exchange All-Share Index gained 1 percent to 20,025.94 in Lagos, according to a statement on the bourse’s website. Mauritius’s SEMDEX Index fell 0.3 percent to 1,855.75 by the end of trading, the lowest since Sept. 26. Kenya’s All- Share Index gained 0.3 percent to 54.57 in Nairobi.

The following shares were active in sub-Saharan Africa, excluding South Africa. Stock symbols are in parentheses.

First Bank of Nigeria Plc (FIRSTBAN NL), the country’s third-biggest lender by market value, gained the maximum daily limit of 5 percent, its highest rise since Feb. 8, to 8.40 naira, as investors took positions for “attractive” gains, with Nigerian lenders’ financial years ending on Dec. 31, PAC Securities Ltd. said.

Stanbic IBTC Bank Plc (IBTCCB NL), the Nigerian unit of Standard Bank Group Ltd., gained for a fifth day, rising 5 percent to 8.02 naira.

--Editors: Peter Branton, Emily Bowers

To contact the reporter on this story: Dulue Mbachu in Abuja at dmbachu@bloomberg.net

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net


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