Sub-Saharan African Stocks: BAI Mauritius, Barclays Kenya, KenolKobil Move

Mauritius’s SEMDEX Index rose for a fourth day, rising 0.2 percent to 1,668.26 at the close in Port Louis.

Kenya’s All-Share Index gained for a third day, increasing 0.6 percent to 75.2, the highest in almost seven weeks. The Nigerian Stock Exchange All-Share Index climbed 0.3 percent to 24,632.78 at the close in Lagos, Sola Oni, spokesman for the Nigerian bourse, said. Namibia’s FTSE/Namibia Overall Index fell for the first time in five days, slipping 0.5 percent to 755.07 in Windhoek. The Ghana Stock Exchange All-Share Index dropped 2 percent, the most since April 22, to 6,391.54.

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

Barclays Bank of Kenya Ltd. (BCBL KN), Kenya’s biggest lender by market value, rose the most in three days, gaining 1 shillings, or 1.6 percent, to 64 shillings, after Kestrel Capital (East Africa) Ltd. forecast that the lender may pay a special dividend.

British American Investment Co. (BAIN MP), a Mauritian investment-holding company, rallied 3 Mauritian rupees, or 15 percent, to 20 rupees, the highest since at least 2003. The Stock Exchange lifted a suspension on the shares today and more than 90 percent of those holding shares subject to an offer by Seaton Ltd. gave their approval for the deal, the company said in a statement to the exchange on July 9.

Intercontinental Bank Plc (INTERCON NL), a Nigerian lender bailed out by the country’s central bank last year, rose for the first day in three, climbing 7 kobo, or 4.7 percent, to 1.57 naira. The bank expects to see an improvement in first-half results after it reported a decline in profit for the first three months, Reuters reported after the market closed on July 9, citing Chief Executive Officer Mahmoud Lai Alabi.

KenolKobil Ltd. (KNOC KN), a Kenyan fuel retailer with operations in seven African nations, advanced 10 cents, or 0.9 percent, to 10.75 shillings, the highest since May 21. KenolKobil expects first-half profit to be “considerably” better than a year ago, boosted by stronger non-fuel revenue at its service stations, Managing Director Jacob Segman said in a statement to the Nairobi Stock Exchange on July 9.

To contact the reporter on this story: Sarah McGregor in Nairobi at smcgregor5@bloomberg.net

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