Bloomberg News

Sub-Sahara Africa Stocks: Diamond Bank Nigeria, Kakuzi of Kenya

April 03, 2012

The Nigerian Stock Exchange All- Share Index (NGSEINDX) snapped seven days of declines, rising 1 percent to 20,849.95 in Lagos, according to an e-mailed statement from the bourse.

Mauritius’s SEMDEX Index (SEMDEX) climbed 0.3 percent to 1,801.53 by the end of trading. Kenya’s All-Share Index (NSEASI) gained 0.7 percent to 60.04 at the close in Nairobi. The FTSE/Namibia Overall Index (FTN098) advanced for the third day, increasing 0.4 percent to 902.52 in Windhoek.

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

Diamond Bank Plc (DIAMONDB) , a Nigerian lender, jumped 4.2 percent to 2.48 naira, the most since Jan. 31, after the Lagos-based bank said it plans to raise $200 million through a private placement and ask shareholders for permission to enter into merger or acquisition talks, as first-quarter pretax profit rose more than fourfold.

Kakuzi Ltd. (KKZI) , a Kenyan tea and fruit producer, gained for a second day, advancing 0.6 percent to 80 shillings, the highest since March 1, after reporting profit in the year through December jumped 67 percent and a larger dividend.

Oando Plc (OANDO) , a Nigerian energy company, dropped for a seventh day, falling by the maximum daily limit of 5 percent, to 19.95 naira. Oil fell following the biggest gain in six weeks as supplies in the U.S., the world’s biggest crude consumer, were forecast to climb to a seven-month high.

To contact the reporter on this story: Chris Kay in Abuja at ckay5@bloomberg.net

To contact the editor responsible for this story: Stephen Kirkland at skirkland@bloomberg.net


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