Sub-Sahara Africa Stocks: East African Breweries, New Mauritius
The FTSE/Namibia Overall Index (FTN098) rose for the first time in four days, jumping 1.2 percent to 918.34 in Windhoek.
The Nigerian Stock Exchange All-Share Index (NGSEINDX) snapped two days of declines, advancing 0.5 percent to 20,411.17 in Lagos, according to a statement from the bourse. Kenya’s All-Share Index (NSEASI) gained for a third day, increasing 0.1 percent to 54.98 in Nairobi. Mauritius’s SEMDEX Index (SEMDEX) rose 0.1 percent to 1,823.09.
The following shares are active in sub-Saharan Africa, excluding South Africa. Stock symbols are in parentheses.
East African Breweries Ltd. (EABL) , the Kenyan unit of Diageo Plc (DGE), advanced 1.7 percent to 179 shillings, the highest since Jan. 12, after the nation’s biggest company by market value said first-half profit grew 17 percent as revenue jumped on an increase in spirits’ sales.
New Mauritius Hotels Ltd. (NMH) , the country’s biggest leisure operator by market value, dropped for a second day, falling 2 percent to 74.5 rupees, the lowest since Dec. 5, on bets of a weaker tourism season.
“Tourism arrivals in January dropped 3 percent, a second month of decline, which is a cause of concern for the industry right now,” Kishen Nadassen, senior research analyst at CIM Stockbrokers Ltd., said in a phone interview from Port Louis. “Expectations are negative” for the season starting April and continuing until September, Nadassen said.
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