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

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

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.