Bloomberg News

Sub-Sahara Africa Stocks: Guaranty Trust Bank, KenolKobil Kenya

June 20, 2012

Kenya’s All-Share Index (NSEASI) advanced 1.3 percent, a seventh day of gains, to 66.95 in Nairobi, the longest winning streak since March.

The Nigerian Stock Exchange All-Share Index jumped 2 percent to 21,510.71 in Lagos, according to an e-mailed statement from the bourse. The FTSE/Namibia Overall Index (FTN098) increased for a fourth day, rising 1.2 percent to 926.12 in Windhoek. Mauritius’s SEMDEX Index (SEMDEX) slid 0.2 percent to 1,784.53 in Port Louis.

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

Guaranty Trust Bank Plc (GUARANTY) , Nigeria’s biggest lender by market value, rose for a second day, advancing 4.3 percent to 15.70 naira, the biggest gain since May 2, on speculation of higher profit.

“Guaranty is a profitable bank and that profit is growing, which means that investors are assured of higher returns in the future,” David Adonri, chief executive officer of Lambeth, said by phone from Lagos today.

KenolKobil Ltd. (KNOC) , Kenya’s biggest oil marketer by market value, jumped 4.4 percent to 13.05 shillings, the highest close since June 2006. The Nairobi Securities Exchange said its shares resumed trading after suspension as the company discussed a takeover bid by Puma Energy BV.

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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