Bloomberg News

Sub-Sahara Africa Stocks: Air Mauritius, Oando of Nigeria Move

May 25, 2012

Kenya’s All-Share Index (NSEASI) fell for a second day, dropping 1.2 percent to 63.55 in Nairobi, the lowest close since May 11.

Mauritius’s SEMDEX Index (SEMDEX) snapped three days of declines, rising less than 0.1 percent to 1,814.36 at the close in Port Louis. Namibia’s FTSE/Namibia Overall Index was little changed at 858.55 in Windhoek.

Air Mauritius Ltd. (AML) , sub-Saharan Africa’s fourth- biggest airline, surged 4.6 percent to 11.5 rupees, the most since April 9. Mauritius’s tourism ministry expects visitor arrivals this year to increase 3.7 percent from 2011, more than twice the growth rate set by the data agency, Minister Michael Sik Yuen said.

Oando Plc (OANDO) , a Nigerian energy company, climbed for a second day, jumping by the 5 percent limit to 15.96 naira, the biggest gain since Jan 11. Oil rose for a second day in New York, paring its fourth weekly decline, as German Chancellor Angela Merkel left the door open to a compromise on debt sharing in the euro area and after U.S. supplies rose to a 22-year high.

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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