Sub-Sahara Africa Stocks: Dangote Cement Nigeria, Sasini Kenya

Kenya’s All-Share Index (NSEASI) dropped for the first time in three days, declining 0.1 percent to 60.18 by the close in Nairobi.

Mauritius’s SEMDEX Index (SEMDEX) fell for the first time in three days, down 0.2 percent to 1,800.7 by the end of trading. The FTSE/Namibia Overall Index (FTN098) rose 0.4 percent to 886.81 in Windhoek. The Nigerian Stock Exchange All-Share Index (NGSEINDX) climbed less than 0.1 percent to 20,941.92 at 2:30 p.m. in Lagos, according to data compiled by Bloomberg.

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

Dangote Cement Plc (DANGCEM) , Africa’s biggest cement producer and Nigeria’s largest company, gained 0.4 percent to 116.5 naira, the highest close since Jan. 31. The Lagos-based company said yesterday profit jumped 19 percent last year as revenue and interest income rose.

Okomu Oil Palm Plc (OKOMUOIL) , a Nigerian processor of the kernels, surged 3.3 percent to 33.5 naira, the highest close since 2008, as the price of palm oil advanced.

Sasini Ltd. (STCL) , Kenya’s largest coffee and tea producer by market value, advanced for the fifth day, jumping 1.7 percent to 11.70 shillings, the highest since March 5, on bets prices of the commodities will remain high.

Global tea prices may advance as much as 12 percent this year as dry weather and frost pare output from Sri Lanka to Kenya, widening a shortage, according to McLeod Russel India Ltd. (MCLR), the world’s biggest grower.

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

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