Sub-Sahara Africa Stocks: Kenya Airways, United Basalt Products

The Nigerian Stock Exchange All- Share Index (NGSEINDX) gained for the first time in four days, adding 0.3 percent to 20,719.04 by 12:11 p.m. in Lagos, according to data compiled by Bloomberg.

Mauritius’s SEMDEX Index (SEMDEX) fell for a fourth day, declining 0.3 percent to 1,755.88 at the close. The FTSE/Namibia Overall Index (FTN098) was unchanged at 923.45 as of 1:16 p.m. in Windhoek. Kenya’s All-Share Index (NSEASI) gained for a third day, adding 0.1 percent to 60.19 at 2:20 p.m. in Nairobi.

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

Kenya Airways Ltd. (KNAL) , sub-Saharan Africa’s third- biggest airline, headed for the lowest in more than seven years on speculation a planned rights offer will dilute the value of existing shares. The stock declined 1 percent to 15 shillings. A close at that level would be the lowest since October 2004, according to data compiled by Bloomberg.

United Basalt Products Ltd. (UBP) , a Mauritian construction company, dropped the most in almost three years on bets the building industry is set for stagnation. The stock fell for a second day, retreating 5.7 percent, the most since April 2009, to 100 rupees.

To contact the reporter on this story: Robert Brand in Cape Town at rbrand9@bloomberg.net

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

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