Sub-Sahara Africa Stocks: Access Bank, Ikeja, Kenya Airways, Kenya Power
Stock Chart for Ikeja Hotel PLC (IKEJAHOT)
Kenya’s All-Share Index climbed for a fourth day, the longest rally since June 30, increasing 0.1 percent to 61.54 by the 3 p.m. close in Nairobi, taking its gain this week to 1.4 percent.
Mauritius’s SEMDEX Index rose for the first time in six days, adding 0.2 percent to 1,899.51 by the 1:30 p.m. close in Port Louis. The Nigerian Stock Exchange All-Share Index retreated 0.2 percent to 21,106.67 by the 2:30 p.m. close in Lagos, according to an e-mailed statement from the bourse. Namibia’s FTSE/Namibia Overall Index (FTN098) gained for a fourth day, adding less than 0.1 percent by the 4 p.m. close in Windhoek. The Ghana Stock Exchange Composite Index snapped two days of increases, losing 0.4 percent to 1,114.03 by the 3 p.m. close in Accra.
Access Bank Plc (ACCESS) , climbed the most in two weeks, adding 25 kobo, or 5 percent, to 5.30 naira. The Nigerian lender held investment conferences in London, Cape Town and Johannesburg this week on its planned acquisition of Intercontinental Bank Plc, a lender bailed out by the central bank in 2009, Austin Edoga-Peters, spokesman for the lender, said by phone today.
“Investors showed positive interest in the bank after the road shows,” Adesoji Solanke, a Lagos-based analyst with Renaissance Capital, said by phone.
Ikeja Hotel Plc (IKEJAHOT) fell 2 kobo, or 1.3 percent, to 1.50 naira, taking its drop this year to 17 percent. The Nigerian leisure operator’s profit declined to 512.8 million naira ($3 million) in the second quarter through June compared with 738.3 million naira a year earlier, it said in a statement yesterday.
Kenya Airways Ltd. (KNAL) climbed 75 cents, or 2.5 percent, to 31.25 shillings, the highest level since Aug. 30. Sub-Saharan Africa’s third-largest carrier will commence flights to Jeddah, Saudi Arabia, it said in a statement today.
Kenya Power Ltd. (KPLL KN) gained for a third day, increasing 20 cents, or 1.1 percent, to 18.95 shillings. The East African nation’s sole energy distributor increased electricity prices to reflect foreign-exchange rate movements and rising fuel costs, according to a statement published in the Government Gazette.
Sasini Ltd. (STCL) surged 1.2 shillings, or 10 percent, to 13.25 shillings, the strongest level since Jan. 7. The Kenyan tea and coffee producer plans to convert farmland to real estate, Business Daily reported yesterday, citing Chief Executive Officer Caesar Mwangi.
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