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Sub-Sahara Africa Stocks: East African Portland, Vitafoam Move

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Feb. 25 (Bloomberg) -- Kenya’s All-Share Index climbed for a fourth day, adding 0.2 percent to close at 77.5 by 3 p.m. in Nairobi.

Mauritius’s SEMDEX Index snapped seven days of losses, advancing 0.2 percent to 2,033.61 by the 1:30 p.m. close in Port Louis. The Nigerian Stock Exchange All-Share Index retreated for a third day, losing 0.1 percent to 26,181.18 by the 2:30 p.m. close in Lagos, according to an e-mailed statement from the bourse. The Ghana Stock Exchange Composite Index fell less than 0.1 percent to 1,045.5 by the 3 p.m. close in Accra while Namibia’s FTSE/Namibia Overall Index rose for the first day in four, adding 1 percent to 880.58 by 5 p.m. in Windhoek.

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

East African Portland Cement Co. (EAPC KN), a Kenyan manufacturer of the building materials, climbed 1 shilling, or 1 percent, to 101 shillings, extending its gain this year to 26 percent. First-half earnings jumped 26 percent to 792.8 million shillings ($9.7 million) after local sales advanced, the company said in an e-mailed statement today.

Nestle Foods Nigeria Plc (NESTLE NL), a consumer-goods maker, fell the most since Dec. 14, losing 10 naira, or 2.1 percent, to 460 naira. Nestle had its recommendation cut to “reduce” from “accumulate” at Vetiva Capital Management Ltd.

Vitafoam Nigeria Plc (VITAFOAM NL), a foam-products maker, rallied the most in a week, adding 18 kobo, or 3.4 percent, to 5.5 naira. Profit in the first quarter through December increased 21 percent to 240.2 million naira, the company said in an e-mailed statement from the bourse yesterday, distributed after it closed.

To contact the reporters on this story: Sarah McGregor in Nairobi at smcgregor5@bloomberg.net; Vincent Nwanma in Lagos at vnwanma@bloomberg.net.

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

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