Sub-Saharan African Stocks: CFC Insurance, Guaranty, Scangroup

Mauritius’s SEMDEX Index snapped four days of declines, adding 0.3 percent to 2,048.64 at the 1:30 p.m. close in Port Louis.

Kenya’s All-Share Index rose for a second day, climbing 0.2 percent to close at 74.97 by 3 p.m. in Nairobi. The Nigerian Stock Exchange All-Share Index rallied 0.5 percent to 25,460.89 by 10:50 a.m. in Lagos, erasing yesterday’s 0.2 percent drop. Namibia’s FTSE/Namibia Overall Index (FTN098) gained less than 0.1 percent to 874.78 by 1:34 p.m. in Windhoek, a third day of increases.

The Ghana Stock Exchange Composite Index advanced 0.3 percent to 1,077.05 by 12:35 p.m. in Accra, taking its gain this month to 0.5 percent.

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

CFC Insurance Holding Ltd. (CFCI KN), Kenya’s first listing in 28 months, more than doubled on its first day of trading in Nairobi, gaining to 14.8 shillings compared with a reference price of 6.52 shillings.

Guaranty Trust Bank Plc (GUARANTY) , Nigeria’s second-biggest lender by market value, rose to the highest in more than two weeks, advancing 31 kobo, or 2 percent, to 16.01 naira, after reporting a 51 percent advance in profit to 16.22 billion naira ($104.8 million) for the first quarter through March, it said in a regulatory filing today.

Scangroup Ltd. (SCAN KN), East Africa’s biggest marketing company by sales, gained for a third day, jumping 3.5 shillings, or 6.3 percent, to 59.5 shillings after Reuters reported it plans to expand operations into Nigeria, Ghana, Mozambique and an unidentified French-speaking African nation, citing Chief Executive Officer Bharat Thakrar.

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

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

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.