Nov. 24 (Bloomberg) -- The Nigerian Stock Exchange All-Share Index declined for a seventh day, the longest streak of losses since April 28, slipping 0.7 percent to 24,462.25 by the 1 p.m. close in Lagos, according to data from the bourse’s website.
Mauritius’s SEMDEX Index fell for the fourth day in five, dropping 0.7 percent to 1,898.74 by the 1:30 p.m. close in Port Louis. Kenya’s All-Share Index retreated for a third day, losing 0.7 percent to 81.37 by the 3 p.m. close in Nairobi. The Ghana Stock Exchange All-Share Index slumped for the second time in three days, dropping 0.2 percent to 7,009.5 by the 2 p.m. close in Accra, while Namibia’s FTSE/Namibia Overall Index rose for the first day in four, adding 0.1 percent to 831.57 by 4:34 p.m. in Windhoek.
The following shares rose or fell in sub-Saharan Africa, excluding South Africa. Stock symbols are in parentheses.
Centum Investment Co. (CENTUM KN), East Africa’s biggest publicly traded investment company, rose the most since Aug. 3, rising 1.25 shillings, or 5.4 percent, to 24.25 shillings. Profit for the first half through September soared more than 10-fold to 845 million shillings ($10.5 million) from a year earlier, Chief Executive Officer James Mworia said yesterday.
Ghana Oil Co. (GOIL GN), which runs a network of gasoline stations in the West African nation, rose the most in almost three months gaining 1 pesewa, or 4.2 percent, to 25 pesewas.
“Investors believe the company will improve on its third quarter performance in this last quarter,” said Daniel Merki, a broker with Accra-based SAS. He declined to give a specific forecast in a phone interview today. Net income for the nine months through September rose 12 percent to 4.83 million cedis ($3.3 million), the company said Oct. 28.
KenolKobil Ltd. (KNOC KN), a fuel retailer with 158 filing stations in Kenya, slumped for a sixth day, the longest streak of losses since November 2008, losing 5 cents, or 0.5 percent, to 10.15 shillings. The company will lower gasoline prices across the country from Nov. 26 after motorists asked for reductions, General Manager David Ohana told reporters in Nairobi, without saying how much prices would be cut by.
Naiade Resorts Ltd. (NRL MP), a Mauritian hotel operator, fell for a third day, dropping 0.4 rupee, or 1.5 percent, to 25.6 rupees. The company was rated “sell” in new coverage at MCB Stockbrokers.
New Mauritius Hotels Ltd. (NMH MP), the Indian Ocean island nation’s biggest tourism operator by market value, fell the most in two months, dropping 2 rupees, or 1.8 percent, to 108 rupees. MCB Stockbrokers initiated coverage of the stock with a “sell” rating.
Sasini Ltd. (STCL KN), a Kenyan tea and coffee grower, retreated for a third day, dropping 25 cents, or 1.9 percent, to 12.95 shillings. Top prices of African tea grades on offer at a weekly sale in Mombasa, Kenya mostly fell, Africa Tea Brokers Ltd. said in an e-mailed statement yesterday. The top prices of 14 grades fell, seven rose and two were unchanged, Africa Tea said. Kenya is the world’s biggest exporter of black tea.
UAC of Nigeria Plc (UACN NL), which makes food products and operates fast-food restaurants, rose 1.08 naira, or 2.7 percent, to 40.50 naira, the highest since Oct. 6. UAC reached an agreement in principle with Tigers Brands Ltd., in which the South African company will buy 49 percent of UAC’s Nigerian food and beverage interests, Tiger said today.
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