Nov. 4 (Bloomberg) -- Kenya’s price-weighted All-Share Index climbed 0.36, or 0.7 percent, to 55.56 at 10:15 a.m. in Nairobi.

The shares of 13 companies gained, 8 declined and 34 were unchanged. The following were among the most active stocks on the Nairobi Stock Exchange today.

Kenya Airways Ltd. (KNAL KN), sub-Saharan Africa’s third- biggest airline, advanced 2.1 percent to 24.75 shillings, its highest price since Aug. 18, after the company reported on Oct. 30 that first-half earnings rose 17 percent and announced plans to begin flights to three more destinations.

“The market has digested the results and the income statement looks good,” Gregory Waweru, a research analyst a Nairobi-based Kestrel Capital East Africa Ltd., said in a phone interview. “It is a good stock to buy because there is underlying medium-term growth.”

Safaricom Ltd. (SAFCOM KN), Kenya’s biggest company by market value, fell as much as 1.3 percent to 3.95 shillings after it said average revenue per user in the six months to Sept. 30 declined 7.3 percent to 466.5 shillings ($6.19 million). The company also reported first-half net income climbed to 6.63 billion Kenyan shillings from 6.22 billion shillings a year earlier.

“People had expected it to do much better,” Johnstone Mwombe, an equity trader at Nairobi-based Sterling Investment Bank, said in a phone interview.

To contact the reporter on this story: Eric Ombok in Nairobi at eombok@bloomberg.net.

Last Updated: November 4, 2009 02:51 EST