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Sub-Saharan African Stocks: Eveready, Sasini, Guaranty, Zenith

Dec. 1 (Bloomberg) -- Kenya’s All-Share Index dropped for an eighth day, the longest streak of declines since March 2009, losing 0.8 percent to 79.51 by the 3 p.m. close in Nairobi.

Mauritius’s SEMDEX Index increased for a second day, rising 0.5 percent to 1,916.11 by the 1:30 p.m. close in Port Louis. The Nigerian Stock Exchange All-Share Index rose for a fifth day, adding 0.4 percent to 24,856.08 in Lagos, according to an e-mailed statement from the exchange.

Namibia’s FTSE/Namibia Overall Index climbed for the first time in four days, increasing 2.1 percent to 822.95 by the 5 p.m. close in Windhoek, while the Ghana Stock Exchange All-Share Index advanced 0.1 percent to 7,089.62 by the 1 p.m. close in Accra.

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

Eveready East Africa Ltd. (EVRD KN), a Kenyan dry-cell battery manufacturer, rose the most in almost three months, surging 15 cents, or 6 percent, to 2.65 shillings. The stock yesterday dropped to the lowest level since it started trading in 2007 after the company said profit in the 12 months through September is expected to fall on increased global metal prices.

Sasini Ltd. (STCL KN), a Kenyan tea and coffee producer, increased for the second time in three days, gaining 10 cents, or 0.8 percent, to 12.85 shillings. The average price for all coffee sold at yesterday’s auction in the East African nation advanced 16 percent to $341.22 per bag, compared with $295.16 at the previous auction two weeks earlier, the Nairobi Coffee Exchange said today in an e-mailed report.

Zenith Bank Plc (ZENITHBA NL), Nigeria’s biggest lender by market value, climbed 42 kobo or 2.9 percent, to 15.01 naira, the highest in more than a week. Guaranty Trust Bank Plc (GUARANTY NL), the third-largest, added 50 kobo, or 3.2 percent, to 16 naira. Asset Management Corp. of Nigeria, a state-owned company set up to buy bad debts from the West African nation’s banks, plans to sell 2.5 trillion naira ($16.6 billion) of three-year, zero-coupon bonds to finance the purchases, Managing Director Mustafa Chike-Obi said in an interview in Lagos today.

To contact the reporter on this story: Eric Ombok in Nairobi at eombok@bloomberg.net

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

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