Sub-Saharan Africa Stocks: KenGen, Stanbic IBTC Bank of Nigeria

Kenya’s All-Share Index (NSEASI) rose for a fourth day, up 0.8 percent to 62.64 in Nairobi, the highest close since Aug. 23.

The Nigerian Stock Exchange All-Share Index (NGSEINDX) added 0.1 percent to 21,779.33 in Lagos, according to an e-mailed statement from the bourse. The FTSE/Namibia Overall Index (FTN098) fell for the first time in five days, retreating 1.9 percent to 886.28 in Windhoek. Mauritius’s SEMDEX Index (SEMDEX) increased 0.1 percent to 1,794.41 by the end of trading.

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

Kenya Electricity Generating Co. (KEGC) , the east African nation’s biggest power producer, jumped 5.6 percent to 8.45 shillings, the biggest gain since Oct. 27.

The company’s share of the electricity market has recovered to about 60 percent after sliding to less than 50 percent 1 1/2 years ago, Rufus Mwanyasi, head trader at Nairobi-based Canaan Capital Ltd., said in a phone interview today. The market share data is based on information from the industry regulator, according to Canaan.

Sameer Africa Ltd. (SAME) , a Kenyan tire manufacturer, advanced 3.5 percent to 4.45 shillings, the highest close since Nov. 10, after full-year profit jumped 69 percent.

Stanbic IBTC Bank Plc (IBTCCB) , the Nigerian unit of Standard Bank Group Ltd., dropped 4.7 percent to 7.1 naira, the biggest decline since March 29, after its target price was reduced and rating lowered at Renaissance Capital.

To contact the reporter on this story: Chris Kay in Abuja at

To contact the editor responsible for this story: Gavin Serkin at

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