Bloomberg News

Sub-Sahara Africa Stocks: Air Mauritius, First Bank of Nigeria

February 14, 2012

Feb. 14 (Bloomberg) -- Mauritius’s SEMDEX Index fell for a fourth day, retreating 0.5 percent to 1,815.03, the lowest close since October 2010.

The Nigerian Stock Exchange All-Share Index rose for the first day in six, advancing 0.4 percent to 20,667 at the close in Lagos, according to an e-mailed statement from the bourse. Kenya’s All-Share Index declined for a second day, dropping 1.1 percent to 54.31 in Nairobi. The FTSE/Namibia Overall Index slid 0.2 percent to 932.07.

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

Air Mauritius Ltd. (AML MP), sub-Saharan Africa’s fourth- biggest airline, dropped 3.7 percent to 14 rupees, the lowest close since August 2010, after saying it plans to cut long-haul flights and sell an Airbus plane after announcing a nine-month loss.

First Bank of Nigeria Plc (FIRSTBAN NL), the country’s third-biggest lender by market value, jumped the maximum 5 percent to 10.5 naira, the biggest gain since Dec. 16, as investors bet the lender will pay a “good” dividend, David Adonri, chief executive officer of Lambeth Trust & Investment Co., said by phone today.

--Editors: Peter Branton, Ana Monteiro

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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