Sub-Saharan African Stocks: Wema Bank of Nigeria, Union Bank Nigeria Move

Mauritius’s SEMDEX Index rose for a fourth day, adding 0.5 percent to 2,072.60, the highest in almost three years, by the 1:30 p.m. close in Port Louis.

Kenya’s All-Share Index fell for the first day in three, declining 0.5 percent to 78.15 by the 3 p.m. in Nairobi, while the Nigerian Stock Exchange All-Share Index slid to 26,598.41 by the 3 p.m. close in Lagos, according to data e-mailed by the bourse. Namibia’s FTSE Namibia Overall Index gained for the second day, adding 0.7 percent to 925.11 by 5 p.m. in Windhoek.

The Ghana Stock Exchange Composite Index declined for the first day in four, dropping 0.2 percent to 1,054.56 by the 3 p.m. close in Accra.

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

Wema Bank Plc (WEMABANK NL), a Nigerian lender that failed an audit test in 2009, rose the most in three weeks, adding 7 kobo, or 4.8 percent, to 1.52 naira, in Lagos. The bank exceeded the capital requirement for its application to become a regional bank, the country’s central bank said in a statement on its website.

Union Bank of Nigeria (UBN NL), a lender bailed out by the central bank in 2009, fell the most in three days, declining 1.6 percent to 4.43 naira in Lagos after labor groups protested outside its offices over an alleged ban on trade unionism.

HFC Bank Ghana Ltd. (HFC GN), which provides mortgages in the West African nation, rose to the highest in two weeks on investors’ optimism that the bank’s partnership in a government housing project that started last month will boost profit, said Enyonam Dagadu, a trader with African Alliance Securities Ghana Ltd.

Cal Bank Ltd. (CAL GN), a Ghanaian lender, fell to the lowest in a month as full-year profit declined to 8.06 million cedis ($5.3 million), from 8.3 million cedis a year earlier, the Accra-based company said in a statement on the website of the Ghana Stock Exchange today.

To contact the reporter on this story: Kamlesh Bhuckory in Port Louis via Johannesburg at 1934 or kbhuckory@bloomberg.net. Moses Mozart Dzawu in Accra at mdzawu@bloomberg.net.

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net.

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