Bloomberg News

Sub-Sahara Africa Stocks: Guaranty Trust of Nigeria, KenolKobil

May 02, 2012

Kenya’s All-Share Index (NSEASI) fell 0.7 percent to 61.79 in Nairobi.

The Nigerian Stock Exchange All-Share Index jumped 1.1 percent to 22,350.99 at 2:30 p.m. in Lagos, according to data compiled by Bloomberg. Mauritius’s SEMDEX Index (SEMDEX) climbed 0.1 percent to 1,799.44 in Port Louis. The FTSE/Namibia Overall Index (FTN098) weakened 0.1 percent to 907.28 in Windhoek.

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

KenolKobil Ltd. (KNOC) , a Kenyan fuel retailer with operations in nine African countries, snapped four days of declines, jumping 3.8 percent to 12.5 shillings, after the Times of Zambia reported it was shortlisted for a tender by the Zambian government.

Guaranty Trust Bank Plc (GUARANTY) , Nigeria’s biggest lender by market value, rose by the 5 percent daily limit to close at 16.82 naira, the highest price since April 2008.

Guaranty is projected to achieve a 40 percent growth in earnings this year, compared with 37 percent for the Nigerian banking industry, Adesoji Solanke, a Lagos-based Africa banking analyst at Renaissance Capital, said by phone today.

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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