Bloomberg News

Sub-Sahara Africa Stocks: Conoil, Equity Bank, Guaranty Trust

July 19, 2012

The Nigerian Stock Exchange All- Share Index declined for the first time in seven days, retreating 0.8 percent to 23,097.79 by the close in Lagos, according to data compiled by Bloomberg.

Kenya’s All-Share Index (NSEASI) gained 0.8 percent to 68.1 in Nairobi. Mauritius’s SEMDEX (SEMDEX) Index declined 0.1 percent to 1,744.89 in Port Louis. The FTSE/Namibia Overall Index (FTN098) advanced 0.2 percent to 899.67 in Windhoek.

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

Conoil Plc (CONOIL) , a marketer of petroleum products in Nigeria, gained the most in almost three months, climbing by the daily limit of 5 percent to 23.76 naira. The company will pay a dividend of 2.50 naira after full-year net income rose 6 percent to 2.95 billion naira ($18.2 million), it said on a statement on the website of the Nigeria Stock Exchange today.

Equity Bank Ltd. (EQBNK) , Kenya’s largest lender by customers, gained 1.2 percent to 22 shillings, the highest close in almost four weeks. First-half earnings are likely to increase as much as 20 percent, Faith Atiti, an analyst at Nairobi-based Sterling Investment Bank, said by phone today.

Guaranty Trust Bank Plc (GUARANTY) , Nigeria’s biggest lender by market value, rose to the highest in more than four years, adding 0.6 percent to 17.50 naira. First-half profit may rise to as high as 42 billion naira ($260 million), Abiola Rasaq, a Lagos-based analyst at Vetiva Capital Management Ltd., said by phone today.

KenolKobil Ltd. (KNOC) , Kenya’s largest fuel retailer by Market, rose to the highest in more than a week, jumping 1.3 percent to 15.65 shillings. Oil advanced to a seven-week high in seven weeks on rising concern that the Middle East will lose stability, disrupting supplies from a region responsible for about 30 percent of world production.

To contact the reporter on this story: Stephen Gunnion in Johannesburg at

To contact the editor responsible for this story: at

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