Bloomberg News

Sub-Sahara Africa Stocks: Uchumi, Union Bank Nigeria Are Active

May 18, 2012

The Nigerian Stock Exchange All-Share Index (NGSEINDX) fell for a second day, retreating 0.6 percent to 22,381.11 in Lagos, according to an e-mailed statement from the bourse.

Kenya’s All-Share Index (NSEASI) advanced for a second day, increasing 0.5 percent to 64.18 in Nairobi. Namibia’s FTSE/Namibia Overall Index (FTN098) dropped 3.1 percent to 858.27 in Windhoek. In Mauritius, the SEMDEX Index (SEMDEX) snapped five days of gains, declining 0.3 percent to 1,821.63 in Port Louis.

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

Uchumi Supermarkets Ltd. (UCSP) , Kenya’s only publicly traded grocer, gained for a seventh day, advancing 4.1 percent to 18 shillings the highest close in six years as the company’s expansion boosted its retail business.

Union Bank of Nigeria Plc (UBN NL), one of eight lenders bailed out by the central bank three years ago, dropped 4.9 percent to 4.09 naira, the lowest in more than two weeks, as it canceled a 1.4 billion share sale after the 15.25 percent subscription failed to meet the regulatory requirements.

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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