Sub-Saharan Africa Stocks: Athi, CAL Bank, Fan Milk, Ecobank, Mumias Sugar
Mauritius’s SEMDEX Index gained for a second day, rising 1 percent to close at 1,709.39 as of 1:30 p.m. in Port Louis.
Kenya’s All-Share Index retreated less than 0.1 percent to 75.99 at the 2:05 p.m. close in Nairobi. The Nigerian Stock Exchange All-Share Index snapped the longest winning streak since May, falling 0.1 percent to 25,889.98 at the 1 p.m. close in Lagos, according to the bourse’s website. Namibia’s FTSE/Namibia Overall Index advanced for a sixth day, the longest series of increases since March, adding 0.2 percent to 797.66 as of 2:48 p.m. in Windhoek. The Ghana Stock Exchange All-Share Index retreated less than 0.1 percent to 6,363.24 at the 1 p.m. close in Accra.
The following shares rose or fell in sub-Saharan Africa, excluding South Africa. Stock symbols are in parentheses.
Athi River Mining Ltd. (ARML KN), Kenya’s second-biggest cement maker by market value, rose to the highest level since shares first started trading in 1997, climbing 5 shillings, or 3.5 percent, to close at 150 shillings, on speculation the company’s expansion will boost earnings, Aly-Khan Satchu, an independent analyst, said in a phone interview today.
CAL Bank Ltd. (CAL GN), a Ghanaian lender, climbed the most in almost a week, rising 1 pesewa, or 4 percent, to 26 pesewas after saying profit for the first half through June surged 71 percent to 4.8 million cedis ($3.3 million).
Ecobank Plc (ECOBANK NL), a Nigerian lender, snapped two days of gains to fall the most in three weeks, retreating 23 cents, or 4.8 percent, to 4.6 naira. Profit dropped 61 percent to 1.65 billion naira ($11 million) for the first half through June from a year earlier.
Fan Milk Ltd. (FML GN), a Ghanaian food producer, rose 12 pesewas, or 1.6 percent, to 7.50 cedis, the highest since July 20. Profit increased 23 percent to 9.8 million cedis in the first half through June.
Finbank Plc (FIRSTINL NL), a Nigerian lender bailed out by the central bank last year, surged 3 kobo, or the maximum daily limit of 5 percent, to 63 kobo, the highest level since May 10. Profit in the first half through June more than tripled to 2.29 billion naira from 717 billion naira a year earlier, the company said in a statement e-mailed by the Nigerian Stock Exchange today.
Livestock Feeds Plc (LIVESTOC NL), a Nigerian animal-feed maker, rose the most in two weeks, climbing 2 kobo, or 3.5 percent, to 60 kobo. First-half profit advanced 52 percent to 15.4 million naira, the company said in a statement e-mailed by the Nigerian Stock Exchange today.
Mumias Sugar Co. (MSUG KN), Kenya’s biggest producer of the sweetener, climbed 45 cents, or 3.6 percent, to 12.95 shillings, the largest gain in two months. Some investors speculated the company’s earnings, due to be reported next week, will increase, Aly-Khan Satchu, an independent stock analyst, said by phone from Nairobi today.
Savanah Sugar Estates Co. Ltd. (SAVA MP), a Mauritian company, gained 25 rupees, or 4.7 percent, to 560 rupees, the highest level since at least July 1995, according data compiled by Bloomberg. The company said it bought a 40 percent stake in Les Villas de Bel Ombre Ltee from Secondlifestyle Investments Ltd., according to an e-mailed statement today.
Unilever Ghana Ltd. (UNIL GN), a household-goods maker, rose 4 pesewas, or 1.1 percent, to 3.6 cedis, the highest level in two weeks. Profit in the last six months of the year is expected to double the first half, Chief Executive Officer Charles Cofie said in an interview yesterday.