Bloomberg News

Sub-Sahara Africa Stocks: Kenya Reinsurance, Okomu Oil Palm Move

July 20, 2012

Kenya’s All-Share Index (NSEASI) gained for a third day, adding 0.3 percent to 68.27 at the close in Nairobi.

The Nigerian Stock Exchange All-Share Index declined less than 0.1 percent to 23,096.38 by 3:28 p.m. in Lagos, according to data compiled by Bloomberg. Mauritius’s SEMDEX (SEMDEX) Index declined 0.1 percent to 1,742.85 at the close in Port Louis. The FTSE/Namibia Overall Index (FTN098) gained 0.4 percent to 903.35 in Windhoek.

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

Kenya Reinsurance Corp. (KNRE KN), the state-owned reinsurer, rose the most in two months on speculation the insurance company investment portfolios will benefit from gains in the equity market.

Kenya Re advanced 5.4 percent to 9.85 shillings by the close in Nairobi, the biggest gain since May 17, according to data compiled by Bloomberg.

Okomu Oil Palm Plc (OKOMUOIL) , a Nigerian producer of the plant oil, gained for a third day, its longest rally since April, on expectations the company will post improved first-half results enabling it to maintain a dividend. The stock advanced 5 percent, the daily limit, to 31.39 naira.

To contact the reporter on this story: Robert Brand in Cape Town at rbrand9@bloomberg.net

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


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