Kenya’s All-Share Index (NSEASI) fell for the first time in three days, declining 0.3 percent to 54.64 at the close in Nairobi.
The FTSE/Namibia Overall Index (FTN098) advanced for a third day, increasing 0.6 percent to 870.26 in Windhoek. The Nigerian Stock Exchange All-Share Index (NGSEINDX) fell 0.2 percent to 20,635.07 in Lagos, according to an e-mailed statement from the bourse. Mauritius’s SEMDEX Index (SEMDEX) gained for a second day, climbing 0.1 percent to 1,890.13 by the end of trading.
The following shares were active in sub-Saharan Africa, excluding South Africa. Stock symbols are in parentheses.
AccessKenya Group Ltd. (ACCESS) , the nation’s only publicly traded Internet company, jumped 8.7 percent, the most since April, to 5.6 shillings on speculation it will post a full-year profit.
“Earnings for 2011 are expected to be substantially stronger than 2010 and we are seeing a lot of position taking on the counter,” Eric Musau, a research analyst at Nairobi-based Standard Investment Bank Ltd., said by phone today. “Although it did not have a good first half, the second half is expected to be good.”
British American Investment Co. (BRIT) (BRIT KN), a Kenyan diversified financial services group, slumped 8.1 percent to 5.1 shillings, the most since Sept. 15, on concern its earnings will suffer from a plunge in the Kenyan stock market last year.
“In 2011 the earnings per share will be down by about 50 percent,” George Bodo, an equity strategist at Nairobi-based Apex Africa Capital Ltd., said by phone today. “Everyone in the market has factored in the risk that these guys have a huge exposure to the capital markets; that is why the market has assigned a discount to the stock.”
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