Bloomberg News

Sub-Sahara Africa Stocks: KenolKobil, Transnational Corp. Move

July 02, 2012

Kenya’s All-Share Index (NSEASI) rose to the highest in almost a year, climbing 0.7 percent to 68.35 by the close in Nairobi.

The Nigerian Stock Exchange All-Share Index gained for a second day, adding 0.1 percent to 21,571.67 in Lagos, according to data compiled by Bloomberg. Mauritius’s SEMDEX Index (SEMDEX) advanced 0.1 percent to 1,778.31 by the end of trading in Port Louis. The FTSE/Namibia Overall Index (FTN098) gained 1.4 percent to 891.62 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, gained for the first time in four days, climbing 8 percent to 15.45 shillings. Speculation that Puma Energy BV, a Geneva-based subsidiary of Trafigura Beheer BV, will offer an “attractive price” to minority shareholders when it makes an offer to buy the company, expected this month, is driving gains, Eric Musau, a research analyst at Nairobi-based Standard Investment Bank Ltd., said in a phone interview today.

Transnational Corp. of Nigeria Plc (TRANSCOR NL), which has investments in hotels, agriculture and oil, declined for a third day, dropping 4.6 percent to 1.03 naira, a four-week low on investor concerns the company’s expansion plans are taking too long.

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


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