Sub-Sahara Africa Stocks: Bramer Mauritius, PZ Cussons Nigeria

The FTSE/Namibia Overall Index (FTN098) dropped for a fourth day, retreating 0.6 percent to 876.2 in Windhoek.

Kenya’s All-Share Index (NSEASI) gained for a second day, increasing 0.1 percent to 63.16 in Nairobi. Mauritius’s SEMDEX Index (SEMDEX) advanced for a second day, rising 0.2 percent to 1,804.22. The Nigerian Stock Exchange All-Share Index (NGSEINDX) climbed 0.2 percent to 22,690.03 as of 2:30 p.m. in Lagos, according to data compiled by Bloomberg.

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

Bramer Banking Corp. (BBCL) , a Mauritian lender, gained 5.3 percent to 10 rupees a share at the close on its first trading day, becoming the bourse’s fourth-biggest company by market value and the third domestic lender to be listed on the exchange.

PZ Cussons Nigeria Plc (PZ) , which manufactures consumer goods, surged 5 percent to 23.2 naira, the highest since April 16, on investor bets that it will declare a dividend for its fiscal year, which ends this month, PAC Securities Ltd. said.

“We are expecting that PZ will declare a reward in the form of dividends, so investors are taking position now,” Eugene Ezenwa, chief operating officer of Lagos-based PAC, said by phone today. “The stock has been trading at a resistance point of about 21 naira for some time now, but it is trying to break off from that point as a result of the expectations.”

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

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

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