Bloomberg News

Sub-Sahara Africa Stocks: East African Breweries, New Mauritius

February 17, 2012

Feb. 17 (Bloomberg) -- The FTSE/Namibia Overall Index rose for the first time in four days, jumping 1.2 percent to 918.34 in Windhoek.

The Nigerian Stock Exchange All-Share Index snapped two days of declines, advancing 0.5 percent to 20,411.17 in Lagos, according to a statement from the bourse. Kenya’s All-Share Index gained for a third day, increasing 0.1 percent to 54.98 in Nairobi. Mauritius’s SEMDEX Index rose 0.1 percent to 1,823.09.

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

East African Breweries Ltd. (EABL KN), the Kenyan unit of Diageo Plc, advanced 1.7 percent to 179 shillings, the highest since Jan. 12, after the nation’s biggest company by market value said first-half profit grew 17 percent as revenue jumped on an increase in spirits’ sales.

New Mauritius Hotels Ltd. (NMH MP), the country’s biggest leisure operator by market value, dropped for a second day, falling 2 percent to 74.5 rupees, the lowest since Dec. 5, on bets of a weaker tourism season.

“Tourism arrivals in January dropped 3 percent, a second month of decline, which is a cause of concern for the industry right now,” Kishen Nadassen, senior research analyst at CIM Stockbrokers Ltd., said in a phone interview from Port Louis. “Expectations are negative” for the season starting April and continuing until September, Nadassen said.

--Editors: Linda Shen, Stephen Kirkland

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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