Sub-Saharan Africa Stocks: Stanbic, Swan, Terra Mauricia Move
The Nigerian Stock Exchange All- Share Index (NGSEINDX) fell for a fifth day, down 0.7 percent to 20,756.18 by the 2:30 p.m. close in Lagos, according to data compiled by Bloomberg.
The FTSE/Namibia Overall Index (FTN098) declined 1 percent to 882.29 in Windhoek, the capital. Kenya’s All-Share Index (NSEASI) dropped 0.1 percent to 59.73 in Nairobi. Mauritius’s SEMDEX Index (SEMDEX) gained for an eighth day, adding 1.2 percent, the most in six months, to 1,793.78 by the close in Port Louis.
Stanbic IBTC Bank Plc (IBTCCB) , a unit of Standard Bank Group Ltd., fell to the lowest level in more than two months, dropping 4.9 percent to 6.80 naira. Net income for the 12 months through December dropped 21 percent to 7.44 billion naira ($47 million) from 9.45 billion naira a year earlier, the Lagos-based lender said.
Swan Insurance Co. (SWAN) , a Mauritius insurer, increased 0.7 percent to 310 rupees. Net income grew to 195.85 million rupees ($6.8 million) from 184.05 million rupees a year earlier, the company said in a statement posted on the website of the Port Louis-based Stock Exchange of Mauritius today.
Terra Mauricia Ltd. (TERA) (TERA MP), a Mauritian company with interests in specialty sugars production and energy, surged 6.4 percent to 41.50 rupees. Net income for the year through December rose to 582.7 million rupees from 250.4 million rupees a year earlier as the sugar division reversed losses, the company announced after the market closed yesterday.
Editors: Peter Branton, Linda Shen
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