Breaking News

Tweet TWEET

Sub-Sahara Africa Stocks: Diamond Bank Nigeria, Kakuzi of Kenya

The Nigerian Stock Exchange All- Share Index (NGSEINDX) snapped seven days of declines, rising 1 percent to 20,849.95 in Lagos, according to an e-mailed statement from the bourse.

Mauritius’s SEMDEX Index (SEMDEX) climbed 0.3 percent to 1,801.53 by the end of trading. Kenya’s All-Share Index (NSEASI) gained 0.7 percent to 60.04 at the close in Nairobi. The FTSE/Namibia Overall Index (FTN098) advanced for the third day, increasing 0.4 percent to 902.52 in Windhoek.

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

Diamond Bank Plc (DIAMONDB) , a Nigerian lender, jumped 4.2 percent to 2.48 naira, the most since Jan. 31, after the Lagos-based bank said it plans to raise $200 million through a private placement and ask shareholders for permission to enter into merger or acquisition talks, as first-quarter pretax profit rose more than fourfold.

Kakuzi Ltd. (KKZI) , a Kenyan tea and fruit producer, gained for a second day, advancing 0.6 percent to 80 shillings, the highest since March 1, after reporting profit in the year through December jumped 67 percent and a larger dividend.

Oando Plc (OANDO) , a Nigerian energy company, dropped for a seventh day, falling by the maximum daily limit of 5 percent, to 19.95 naira. Oil fell following the biggest gain in six weeks as supplies in the U.S., the world’s biggest crude consumer, were forecast to climb to a seven-month high.

To contact the reporter on this story: Chris Kay in Abuja at ckay5@bloomberg.net

To contact the editor responsible for this story: Stephen Kirkland at skirkland@bloomberg.net

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.