Sub-Sahara Africa Stocks: Cooperative Bank, Nigerian Breweries

Kenya’s All-Share Index (NSEASI) gained for the 11th day, extending the longest rally since September 2010, rising 0.5 percent to 60.3 in Nairobi.

The FTSE/Namibia Overall Index (FTN098) fell for a fourth day, slumping 2.2 percent in Windhoek, the most since Dec. 14. The Nigerian Stock Exchange All-Share Index (NGSEINDX) advanced for a fourth day, the longest rally since Jan. 10, increasing 1.5 percent to 20,926.31 at 2:30 p.m. in Lagos, according to data compiled by Bloomberg. Mauritius’s SEMDEX Index (SEMDEX) rose 0.1 percent to 1,780.43.

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

Cooperative Bank of Kenya Ltd. (COOP KN), the East African nation’s fifth-largest lender by market value, surged 7.9 percent to 12.95 shillings, the biggest gain since June 2009, on speculation full-year earnings to December will grow.

“I would expect it to rise on expectations of earnings; I expect at least 30 percent growth in earnings after tax,” Renaldo d’Souza, a research analyst with Genghis Capital Ltd., said by phone from Nairobi today.

Nigerian Breweries Plc (NB) , the country’s biggest brewer by market value, gained 1.5 percent, the most since Feb. 17, to close at 94.90 naira, after full-year profit advanced 25 percent.

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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