Sub-Saharan African Stocks: PZ Cussons Nigeria; SG-SSB of Ghana Are Active

Kenya’s All-Share Index retreated 0.8 percent to 65.85 by the 3 p.m. close in Nairobi, the lowest level since March 2010.

Mauritius’s SEMDEX Index slid for a second day, declining 0.4 percent to 2,023.22 by the 1:30 p.m. close in Port Louis, the lowest since April 7. The Ghana Stock Exchange Composite Index dropped 1.2 percent to 1,166.21 by the 3 p.m. close in Accra, the biggest retreat since April 11. Namibia’s FTSE/Namibia Overall Index (FTN098) weakened for the third day, falling 0.8 percent to 833.57 by the 4 p.m. close in Windhoek, the lowest since June 28. The Nigerian Stock Exchange All-Share Index slumped for the second day, losing 0.4 percent to 23,906.97 by the 2:30 p.m. close in Lagos, according to an e- mailed statement from the bourse.

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

PZ Cussons Nigeria Plc (PZ) , a manufacturer of consumer products and home appliances, jumped 1.9 naira, or 5 percent, to 40 naira, the highest level since at least January 2002. The company’s net income for the year gained to 5.7 billion naira ($37.2 million) from 5.6 billion naira a year earlier, according to Renaissance Capital, which cited figures released by the Nigerian Stock Exchange. Revenue increased to 65.9 billion naira from 62.7 billion naira, it said.

SG-SSB Ltd. (SGSSB) , Societe Generale SA’s unit in Ghana, declined 1 pesewa, or 2 percent, to 49 pesewa, the biggest retreat since July 18, after first-half profit didn’t meet investors’ expectations. Net income rose 6 percent to 10.7 million cedis ($7.1 million) in the six months through June, according to a statement published in the Daily Graphic newspaper today.

An average increase of 20 percent in profit would have been “okay,” said Randy Mensah, a stock trader at Accra-based Databank, in a telephone interview. “Investors want to get out to more exciting stocks.”

To contact the reporter on this story: Chris Kay in London at ckay5@bloomberg.net

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

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.