Sub-Saharan African Stocks Report: Mauritius Commercial, Naiade

Kenya’s All-Share Index fell for a 10th day, the longest streak of losses since December, dropping 1.2 percent to 56.62 by 11:43 a.m. in Nairobi, the capital. The decrease extends its retreat this quarter to 19.7 percent, making it sub-Saharan Africa’s worst performer in the period.

In Mauritius, the SEMDEX Index rallied to the highest in more than two weeks, adding 1.1 percent to 1,906.41 by 12:45 p.m. in Port Louis.

Namibia’s FTSE/Namibia Overall Index (FTN098) was unchanged at 768.06 by 9:46 a.m. in Windhoek. The Ghanaian and Nigerian bourses had yet to start trading.

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

Mauritius Commercial Bank (MCB) rose 1 rupee, or 0.6 percent, to 170 rupees, paring yesterday’s 1.2 percent drop. The country’s biggest lender by market value reported a 32 percent increase in profit to 4.49 billion rupees ($154.8 million) in the year through June, the company said in a statement after the market closed yesterday.

Naiade Resorts Ltd. (NRL) rallied the most in more than seven months, adding 2.9 rupees, or 11 percent, to 30 rupees. Mauritius’s third-largest hotel operator, which changed its year-end to June from December, reported operating profit of 353 million rupees ($12.2 million) after a loss of 207.7 million rupees a year earlier, Chief Executive Officer Paul Jones told reporters yesterday.

New Mauritius Hotels Ltd. (NMH) climbed 2 rupees, or 2.5 percent, to 82 rupees, the highest in two weeks. The Indian Ocean island nation’s biggest leisure operator by market value will pay a final dividend of 0.5 rupee for its financial year through September, the company said in a statement e-mailed today by Port Louis-based CIM Stockbrokers Ltd.

State Bank of Mauritius Ltd. (SBM) gained 2 rupees, or 2.4 percent, to 87 rupees, the biggest increase in more than three weeks. The nation’s second-largest lender by market value said profit rose 8.3 percent in the year through June as fees and commission revenue surged.

To contact the reporter on this story: Ana Monteiro in Johannesburg at amonteiro4@bloomberg.net

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

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