The Nigerian Stock Exchange All- Share Index (NGSEINDX) dropped 2 percent to 20,658.28 by 2:30 p.m. in Lagos, according to data compiled by Bloomberg.
The following shares are 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, surged 5 percent to 6.53 naira, the biggest one-day gain since Jan. 3, after full-year profit soared 51 percent.
Guaranty Trust Bank Plc (GUARANTY) , Nigeria’s biggest lender by market value, gained for a second day, advancing 1.2 percent to 14.22 naira, the most since March 6. The Lagos-based bank said full-year profit through December rose 37 percent.
National Bank of Kenya Ltd. (NBKL KN), a state-owned lender, snapped four days of losses, rising 3.4 percent to 19.85 shillings, on bets earnings will decline less than estimated.
“There may be a reduction in earnings but not as severe as was expected,” Eric Musau, a research analyst at Nairobi-based Standard Investment Bank Ltd., said in a phone interview today.
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