Bloomberg News

Sub-Sahara Africa Stocks: Housing Finance Kenya, Safaricom Move

February 22, 2012

Feb. 22 (Bloomberg) -- The Mauritius SEMDEX Index fell for a second day, retreating 0.2 percent to 1,812.98 at the close.

Kenya’s All-Share Index climbed 0.3 percent to 55.54 at the end of trading in Nairobi. The Nigerian Stock Exchange All-Share Index slumped 0.9 percent to 20,293.82 as of 5:14 p.m. in Lagos, according to data compiled by Bloomberg. The FTSE/Namibia Overall Index fell 0.8 percent to 914.98 at the close in Windhoek.

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

Housing Finance Co. (HFCL KN), Kenya’s only publicly traded mortgage lender, snapped two days of declines, gaining 0.7 percent to 13.9 shillings after it said full-year profit surged 63 percent after loan income increased last year.

Safaricom Ltd. (SAFCOM KN), East Africa’s biggest mobile- phone company, fell for a third day, declining 1.6 percent to 3.15 shillings, the lowest since Jan. 25. Kestrel Capital East Africa Ltd, a brokerage, downgraded the Nairobi-based company to “lighten” from “hold” with a price estimate of 2.78 shillings.

--Editors: Linda Shen, Peter Branton

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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