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Sub-Saharan African Stocks: Custodian, Kenya Airways, Safaricom

Kenya’s All-Share Index increased less than 0.1 percent to 73.6 at the close in Nairobi, paring the measure’s drop this week to 2.1 percent, the biggest since January.

Mauritius’s SEMDEX Index rallied for a second day, rising 0.4 percent to 1,632.18 at the close in Port Louis, bringing its weekly increase to 2.2 percent, the strongest gain since the five days ending Jan. 8.

The Nigerian Stock Exchange All-Share Index climbed 0.8 percent to 26,153.47 in Lagos, data from the exchange’s website show. Namibia’s FTSE/Namibia Overall Index dropped 2.3 percent to 745.88, while the Ghana Stock Exchange All-Share Index declined 1.6 percent to 6,983.95.

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

Custodian & Allied Insurance Plc (CUSTODYI NL), a Nigerian company, fell to its lowest level in eight trading days, dropping 20 kobo, or 4.9 percent, to 3.5 naira. The company forecasts profit of 1.96 billion naira ($12.8 million) for the nine months through September, it said in a statement to the exchange today. That compares with 1.66 billion naira a year earlier.

Kenya Airways Ltd. (KNAL KN), sub-Saharan Africa’s third-biggest carrier, fell to a one-week low, retreating 2.5 shillings, or 4.4 percent, to 54 shillings. Sales in the full year through March declined and total expenses increased.

Safaricom Ltd. (SAFCOM KN), East Africa’s biggest mobile-network operator, headed for its highest closing level in more than two weeks, rising 5 cents, or 0.9 percent, to 5.6 shillings. Nomura International raised its price estimate on the company’s stock to 6.4 shillings per share from 5.68 shillings, London-based analyst Martin Mabbutt wrote in a note to clients dated today.

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