Bloomberg News

Sub-Sahara Africa Stocks: Diamond Bank, United Bank for Africa

July 11, 2012

Kenya’s All-Share Index (NSEASI) snapped three days of declines, rising 0.1 percent to 68.29 in Nairobi.

Mauritius’s SEMDEX Index (SEMDEX) fell for a sixth day, retreating 0.2 percent to 1,755.96 by the close in Port Louis. The Nigerian Stock Exchange All-Share Index climbed 0.6 percent to 22,253.91 in Lagos, according to data compiled by Bloomberg. The FTSE/Namibia Overall Index (FTN098) slid for a second day, losing 0.2 percent to 893.02 in Windhoek.

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

Bamburi Cement Co. (BMBC) , Kenya’s biggest maker of the building material, rose 3 percent to 170 shillings, the highest close since Aug. 16, on speculation earnings increased in the first half of the year.

“There are expectations first-half results will be good,” Vimal Parmar, head of research at Nairobi-based Kestrel Capital East Africa Ltd., said in a phone interview today.

Diamond Bank Plc (DIAMONDB) , a Nigerian lender, advanced 4.8 percent to 2.41 naira, the biggest gain since May 7, after its first-half profit surged more than fourfold.

Oando Plc (OANDO) , a Nigerian energy company, snapped two days of declines, increasing 1.6 percent to 14.35 naira. Oil climbed as the U.S. Energy Department reported that crude supplies dropped.

Produce Buying Company Ltd. (PBC) , the biggest buyer of cocoa beans from farmers in Ghana, dropped 4.8 percent to 20 pesewas, the lowest since March 2011, as the Ghana Cocoa Board said its mid-crop harvest may fall from a year earlier.

United Bank for Africa Plc (UBA NL), a Nigerian lender, jumped 4.9 percent to 4.29 naira, the highest since Aug. 22, after the Lagos-based bank said second-quarter profit through June more than doubled.

To contact the reporter on this story: Chris Kay in London at ckay5@bloomberg.net

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


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