Bloomberg News

Sub-Saharan Africa Equities: Ghana Commercial, Diamond Trust

December 29, 2011

Dec. 29 (Bloomberg) -- The Ghana Stock Exchange Composite Index fell for the first time in seven days, dropping 1.8 percent to 949.41 in Accra, the capital.

The FTSE/Namibia Overall Index declined for the first time in four days, dropping 0.4 percent to 838.01 in Windhoek. The Nigerian Stock Exchange All-Share Index climbed 0.8 percent to 20,772.43 in Lagos, according to the exchange’s data on Bloomberg. The benchmark in Mauritius, SEMDEX Index, closed 0.03 percent lower at 1,881.69 by the end of trading in Port Louis. Kenya’s All-Share Index was 0.8 percent lower at 54.29 in Nairobi.

The following were among the most active equities in sub- Saharan Africa, excluding South Africa. Stock symbols are in parentheses.

Ghana Commercial Bank Ltd. (GCB GN), the West African nation’s biggest lender, rose the most in two weeks, gaining 0.5 percent to 1.85 cedis. The price may top 2 cedis next year, Haruna Gariba, a stock trader at Accra-based Merban Stockbrokers Ltd., said in a phone interview.

Kenya Commercial Bank Ltd. (KNCB KN), the largest lender by assets and outlets in the east African nation, increased 0.6 percent to 16.6 shillings, the highest since Nov. 22. In the 11 months to November, pretax profits of Kenyan lenders surpassed earnings for 2010, Business Daily said yesterday, citing statistics from the Central Bank of Kenya.

Diamond Trust of Kenya Ltd. (DTKL KN), a lender publicly traded in Kenya, Uganda and Tanzania, rose 1.1 percent to 90 shillings.

--Editors: Ash Kumar, Linda Shen

To contact the reporter on this story: Jana Marais in Johannesburg at jmarais@bloomberg.net

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


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