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Sub-Saharan Africa Stocks: AccessKenya, Dangote Flour of Nigeria

Mauritius’s SEMDEX Index (SEMDEX) fell for a second day, declining 0.2 percent to 1,789.68 by the close in Port Louis.

Kenya’s All-Share Index (NSEASI) climbed 0.9 percent to 64.85 by in Nairobi. The Nigerian Stock Exchange All-Share Index rose 0.3 percent to 21,239.52 in Lagos, according to an e-mailed statement from the bourse. The FTSE/Namibia Overall Index (FTN098) advanced 0.8 percent to 894.09 in Windhoek.

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

AccessKenya Group Ltd. (ACCESS) , the East African nation’s only publicly traded Internet company, jumped 1.8 percent to 5.65 shillings, after stockholders approved a bonus share offer, Chairman Daniel Ndonye said at the company’s annual general meeting today in Nairobi, the capital.

Dangote Flour Mills Plc (DANGFLOU) , a Nigerian miller, lost 5 percent to 5.32 naira, the biggest daily drop since April 23, as investors sold off on fading talks of an acquisition by Tiger Brands Ltd. of South Africa, Kundila Finance Ltd. said.

“The thing is taking too long to happen, and that’s why investors are selling,” Raheem Mohammed, chief operating officer of Lagos-based Kundila, said by phone today. “They bought the shares on the speculation that they could make capital appreciation out of, but since then no information has come on that.”

Uchumi Supermarkets Ltd. (UCSP) , Kenya’s only publicly traded retailer, fell 3.1 percent to 16.95 shillings, the steepest retreat since May 28. Uchumi’s shares have more than doubled so far this year.

“It is a gradual down rating of the stock after it rallied too much,” George Bodo, a Nairobi-based independent equity strategist, said in a phone interview today.

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

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

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