Bloomberg News

Sub-Saharan Africa Stocks: Centum Investment, Oando Are Active

February 02, 2012

Feb. 2 (Bloomberg) -- Kenya’s All-Share Index jumped 1.1 percent to 54.36 in Nairobi, the biggest gain since Dec.8.

The FTSE/Namibia Overall Index rose for a third day, increasing 1.7 percent to 926.01 in Windhoek. The Nigerian Stock Exchange All-Share Index gained 0.1 percent to 20,822 at the close in Lagos, according to a statement on the bourse’s website.

Mauritius’s SEMDEX Index declined 0.1 percent to 1,831.28 by the end of trading.

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

Centum Investment Co. (CENTUM KN), Kenya’s largest investment company, fell for a third day, down 2.5 percent to 13.75 shillings, the lowest since Jan. 20, amid speculation investors are taking profits.

“It was really oversold in December, then it recovered in January and now we are seeing very thin profit taking,” George Bodo, an equity strategist at Nairobi-based Apex Africa Capital said by phone today.

Oando Plc (OANDO NL), a Nigerian oil company, fell for a fifth day, slumping 4.6 percent to 16.3 naira, the lowest since 2003. Crude fell to a six-week low in New York as U.S. supplies climbed and fuel demand tumbled.

--Editors: Ash Kumar, Hilton Shone

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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