Bloomberg News

Sub-Sahara Africa Stocks: Kenya Airways, Standard Chartered

April 19, 2012

Kenya’s All-Share Index (NSEASI) rose for a second day, jumping 1.3 percent to 61.46 in Nairobi, the highest close since Sept. 16.

The Nigerian Stock Exchange All-Share Index (NGSEINDX) advanced 1.4 percent to 21,388.88 in Lagos, according to an e-mailed statement from the bourse. Mauritius’s SEMDEX Index (SEMDEX) snapped three days of declines, advancing 0.2 percent to 1,793.45. The FTSE/Namibia Overall Index (FTN098) gained for a third day, climbing less than 0.1 percent to 901.43 in Windhoek.

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

Kenya Airways Ltd. (KNAL) , sub-Saharan Africa’s third- biggest carrier, jumped 3.6 percent to 14.50 shillings, the highest close since March 20, as the shares traded for the first day without a premium attached to a rights offer.

Standard Chartered Bank Kenya Ltd. (SCBL) , the country’s fifth-biggest lender, dropped 3.5 percent to 165 shillings, the lowest since March 23. The Nairobi-based bank said its directors approved a rights offer in which 37 million new shares will be offered to existing investors.

The company plans to increase its authorized share capital to 1.63 billion shillings ($19.6 million) from 1.5 billion shillings.

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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