BLBG:Sub-Sahara Africa Stocks: Kenya Airways, Mumias Sugar, Rogers
Kenya’s All-Share Index declined for the first time in three days, slipping 0.5 percent to 55.06 by 12:30 p.m. in Nairobi, the capital.
In Mauritius, the SEMDEX Index advanced for a third day, adding 0.7 percent to 1,913.82 by the 1:30 p.m. close in Port Louis. The Nigerian Stock Exchange All-Share Index fell for a second day, dropping less than 0.1 percent to 20,249.51 by 10:31 a.m. in Lagos. The Ghana Stock Exchange Composite Index added 0.2 percent to 998.30 by 9:31 a.m. in Accra. Namibia’s FTSE/Namibia Overall Index (FTN098) gained for a third day, adding 0.1 percent to 802.95 by 10:31 a.m. in Windhoek.
The following shares rose or fell in sub-Saharan Africa, excluding South Africa. Stock symbols are in parentheses.
Kenya Airways Ltd. (KNAL) , sub-Saharan Africa’s third- biggest airline, headed for its lowest close in two years, falling 4.3 percent to 22.5 shillings. The airline said it would denominate domestic fares in dollars because of fluctuations in the exchange rate of the shilling, the world’s worst-performing currency against the dollar this year.
Mumias Sugar Co. (MSUG KN), Kenya’s biggest producer of the sweetener, headed for its highest close in more than two weeks, advancing 2.4 percent to 6.35 shillings. Sugar prices gained on signs China may be purchasing more of the sweetener and on speculation demand will increase as concerns about the European debt crisis ease.
Rogers & Co. (ROGERS MP) surged 13 percent to 389 rupees, its highest close since July 2008. The board of the Mauritian company with interests in financial services and aviation plans to restructure the business and its Cim Financial Services Ltd. unit by cross-transferring some assets and investments. Rogers plans to distribute its shares in Cim, with the financial group eventually trading on the local bourse, it said in a statement on the exchange’s website today.
ENL Investment Ltd. (ENIT) , a Mauritius investment company, rose 10 percent to 43 rupees. ENL and Elgin Ltd. are the only shareholders in Rogers Consolidated Shareholding Ltd., which has the biggest stake in Rogers.
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