Bloomberg News

Sub-Sahara Africa Stocks: KenolKobil Kenya, New Mauritius Hotels

February 24, 2012

Feb. 24 (Bloomberg) -- Mauritius’s SEMDEX Index fell for a fourth day, dropping 0.5 percent to 1,800.98 by the end of trading, the lowest level since October 2010.

Kenya’s All-Share Index rose for a fourth day, jumping 1.4 percent to 56.46 in Nairobi. The Nigerian Stock Exchange All- Share Index climbed for a second day, gaining 0.3 percent to 20,495.92 in Lagos, according to an e-mailed statement from the bourse. The FTSE/Namibia Overall Index advanced for a second day, increasing 0.5 percent to 922.58 in Windhoek.

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

New Mauritius Hotels Ltd. (NMH MP), the country’s biggest leisure company, retreated 2.1 percent to 71.5 rupees, the lowest close since March 2009, after the European Commission’s interim forecast called for a contraction in the euro area, Mauritius’s biggest trading partner.

KenolKobil Ltd. (KNOC KN), a Kenyan fuel retailer, rose 1.4 percent to 11.1 shillings. The company has become Kenya’s biggest oil-marketing company after its market share increased to 25 percent last year from 18.3 percent a year earlier, Business Daily reported.

Skye Bank Plc (SKYEBANK NL), a Nigerian lender, rose 4 percent to 4.16 naira, the highest since Dec. 22, as investors bought the stock in anticipation that the bank will pay dividends when it announces full-year 2011 results as soon as next week.

“Investors’ expectation is that the bank will pay a dividend for 2011,” Eugene Ezenwa, chief operating officer for Lagos-based PAC Securities Ltd., said by phone today.

--Editors: Peter Branton, Linda Shen

To contact the reporter on this story: Chris Kay in Abuja at

To contact the editor responsible for this story: Gavin Serkin at

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