Bloomberg News

Sub-Saharan Africa Stocks: AccessKenya, Housing Finance Move

May 29, 2012

Kenya’s All-Share Index (NSEASI) gained for a second day, adding 0.4 percent to 64.09 by the close in Nairobi.

Mauritius’s SEMDEX Index (SEMDEX) slipped less than 0.1 percent to 1,805.68 in Port Louis. The FTSE/Namibia Overall Index (FTN098) rose 1.4 percent to 872.72 in Windhoek.

The Nigerian Stock Exchange is closed for the Democracy Day holiday.

The following shares were active in sub-Saharan Africa, excluding South Africa. Stock symbols are in parentheses.

AccessKenya Group Ltd. (ACCESS) , the East African nation’s only publicly traded Internet company, jumped 1.1 percent to 4.70 shillings. Kenya’s Capital Markets Authority said it approved the proposal to issue one new bonus share for every 20 held.

Housing Finance Ltd. (HFCL) , Kenya’s only publicly traded mortgage lender, fell the most on a closing basis in more than two months, sliding 3.8 percent to 15.20 shillings. A decline in the uptake of new mortgages due to higher interest rates could cut earnings, Aly-Khan Satchu, chief executive officer of Nairobi-based Rich Management, said in a phone interview today.

To contact the reporter on this story: Stephen Gunnion in Johannesburg at sgunnion@bloomberg.net

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net


Best LBO Ever
LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus