Sub-Sahara Africa Stocks: AccessKenya and Kenya Electricity Shares Move

Kenya’s All-Share Index rose to the highest level in more than a week, increasing 0.5 percent to 79.95 at the 3 p.m. close in Nairobi.

Mauritius’s SEMDEX Index gained for a second day, adding less than 0.1 percent to 1,730.09 at the 1:30 p.m. close in Port Louis, as the Nigerian Stock Exchange All-Share Index dropped 0.4 percent to 25,170.02 as of the 1 p.m. close in Lagos. Namibia’s FTSE/Namibia Overall Index retreated for the first day in three, falling 1.4 percent to 740.42 in Windhoek as of the 5 p.m. close to its lowest level since July 6. The Ghana Stock Exchange All-Share Index gained to the highest in level in more than a month, rising 0.2 percent to 6,465.90 by 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.

AccessKenya Ltd. (ACCESS KN), Kenya’s only publicly traded internet company, sank the most in a week after saying net income in the six months ended June 30 fell to 30.7 million shillings from 75.4 million shillings the same period a year earlier. The stock dropped 4.8 percent to 19 shillings in Nairobi.

Intercontinental Bank Plc. (INTERCON NL), one of the Nigerian lenders bailed out last year by the central bank, rose for a second day after the industry regulator said it had received bids for potential buyers for four of the lenders. The stock gained 7 kobo, or 4.1 percent, to 1.87 naira in Lagos.

Kenya Electricity Generation Co. Ltd. (KEGC KN), the country’s biggest power producer, gained for a second day after saying it appointed an adviser to help it find a buyer for 19 percent of the company to reduce the government’s stake. The stock advanced 15 cents, or 0.9 percent, to 17.35 shillings in Nairobi.

Mauritius Oil Refineries Ltd. (MOR MP), an oil refiner, climbed 60 cents, or 2.5 percent, to 25 rupees, its biggest jump in two months. Annual profit is expected to rise, Kishen Nadassen, an analyst at CIM Stockbrokers in Port Louis, said.

Okomu Oil Palm Plc (OKOMUOIL NL), a Nigerian producer of the edible oil, rose for a seventh day as investors speculated earnings will rise, David Odonri, chief executive officer at Lagos-based Lambeth Trust & Investments Co. Okomu rose 73 kobo, or 4.9 percent, to 15.5 naira, its highest level since May.

Scan Group Ltd. (SCAN KN), East Africa’s biggest marketing company, rose to a record after reporting first-half profit jumped 36 percent to 200.3 million shillings from 146.8 million shillings a year earlier. The stock gained 75 cents, or 1.7 percent, to 44 shillings

To contact the reporters on this story: Sarah McGregor in Nairobi at smcgregor5@bloomberg.net; Vincent Nwanma in Lagos at vnwanma@bloomberg.net.

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