Sub-Sahara Africa Stocks: Starcomms; UAC of Nigeria Are Active in Lagos

Namibia’s FTSE/Namibia Overall Index (FTN098) slid for a sixth day, the longest losing streak since the seven days through Feb. 18, 2009, weakening 0.4 percent to 820.33 by the 4 p.m. close in Windhoek.

Kenya’s All-Share Index advanced for a third day, rising 0.5 percent to 66.36 by the 3 p.m. close in Nairobi. Mauritius’s SEMDEX Index snapped two days of gains, falling 0.1 percent to 2,032.54 by the 1:30 p.m. close in Port Louis. The Ghana Stock Exchange Composite Index climbed 0.7 percent, the most in a week, to 1,178.56 by the 3 p.m. close in Accra. The Nigerian Stock Exchange All-Share Index retreated 0.2 percent to 23,863.27 by the 2:30 p.m. close in Lagos, according to a statement on the bourse’s website.

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

Starcomms Plc (STARCOMM) , a Nigerian company that offers fixed-line and mobile telephone services, fell for a third day, declining 2 kobo, or 3.5 percent, to 56 kobo, the lowest since July 19, after Renaissance Capital said the company’s first-half loss through June increased to 4 billion naira ($26 million), compared with a loss of 3.2 billion naira a year earlier.

UAC of Nigeria Plc (UACN) , a food-products maker and fast-food restaurant operator, gained 2 kobo, or 0.5 percent, to 39.50 naira, the highest in almost a week. Second-quarter profit climbed to 7.78 billion naira from 2.22 billion naira a year earlier, Securities Africa said in an e-mailed reported today, citing figures obtained from the Nigerian Stock Exchange.

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

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