Sub-Saharan Stocks: Access Bank, Ikeja Hotel Move in Nigeria

The Ghana Stock Exchange Composite Index fell for a fifth day, dropping 2.1 percent to close at 954.99, the biggest decline since Oct. 5.

Kenya’s All-Share Index (NSEASI) gained 1.4 percent to 53.90 in Nairobi. The Nigerian Stock Exchange All-Share Index (NGSEINDX) declined for a third day, weakening 0.5 percent to 19,732.34 in Lagos, according to a statement on the bourse’s website. Mauritius’s SEMDEX Index (SEMDEX) fell for a second day, slipping 0.3 percent to 1,859.48 by the end of trading. The FTSE/Namibia Overall Index (FTN098) retreated 0.1 percent to 850.71 in Windhoek.

The following shares were active in sub-Saharan Africa, excluding South Africa. Stock symbols are in parentheses.

Access Bank Plc (ACCESS) , Nigeria’s fifth-largest lender by market value, fell for a third day, declining 1.2 percent to 4.26 naira, the lowest close since April 2009. The Lagos-based lender said Dec. 6 it will increase share capital to 13 billion naira ($80 million) from 10 billion naira. Shareholders will vote on the proposal on Dec. 30.

Ikeja Hotel Plc (IKEJAHOT) , a Nigerian leisure operator, tumbled 4.8 percent to 2.39 naira, the lowest close since Nov. 4, after the company said its nine-month net income fell to 827 million naira from 1.14 billion naira a year earlier.

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

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

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