Sub-Sahara Africa Stocks: Gamma, Guinness Nigeria, Kenya Re Move
The Nigerian Stock Exchange All- Share Index snapped six days of gains, losing 0.2 percent to 25,324.53 by the 2:30 p.m. close in Lagos, according to an e- mailed statement from the bourse.
Mauritius’s SEMDEX Index retreated for a fourth day, slipping less than 0.1 percent to 2,042.5 by the 1:30 p.m. close in Port Louis. Kenya’s All-Share Index climbed 0.5 percent to 74.85 by the 3 p.m. close in Nairobi, paring its drop this year to 3.7 percent. Namibia’s FTSE/Namibia Overall Index (FTN098) rallied for a second day, increasing 2.3 percent to 874.72 by the 4 p.m. close in Windhoek. The Ghana Stock Exchange Composite Index snapped four days of increases, losing 0.8 percent to 1,067.6 by the 3 p.m. close in Accra.
Gamma Civic Ltd. (GML) , Mauritius’s biggest construction company by market value, rose the most in two weeks, gaining 15 rupees, or 3.9 percent, to 405 rupees after l’Express newspaper reported it will enter a strategic alliance with Colas Maurice Ltd., giving Gamma access to modern building materials.
Guinness Nigeria Plc (GUINNESS) , the nation’s second- biggest brewer by market value, advanced for the first day in three, rallying 1.97 naira, or 1 percent, to 202 naira after Morgan Stanley initiated coverage of the stock with an “overweight” recommendation.
Kenya Reinsurance Corp. (KNRE KN), a state-owned reinsurer, gained for a fourth day, its longest winning streak in 3 1/2 months, adding 5 cents, or 0.5 percent, to 10.15 shillings after profit rose 16 percent to 1.54 billion shillings ($18.3 million) in the 12 months through December, according to a statement e- mailed by the Nairobi Stock Exchange today.
Unilever Nigeria Plc (UNILEVER) , which produces Omo washing powder and Lipton tea, fell the most in more than a week, slumping 49 kobo, or 1.9 percent, to 25.01 naira after Morgan Stanley initiated coverage of the stock with an “underweight” rating.
To contact the editor responsible for this story: Gavin Serkin at email@example.com