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Sub-Sahara Africa Stocks: Gamma, Guinness Nigeria, Kenya Re Move

April 20 (Bloomberg) -- The Nigerian Stock Exchange All-Share Index snapped six days of gains, losing 0.2 percent to 25,324.53 by the 2:30 p.m. close in Lagos, according to an e-mailed statement from the bourse.

Mauritius’s SEMDEX Index retreated for a fourth day, slipping less than 0.1 percent to 2,042.5 by the 1:30 p.m. close in Port Louis. Kenya’s All-Share Index climbed 0.5 percent to 74.85 by the 3 p.m. close in Nairobi, paring its drop this year to 3.7 percent. Namibia’s FTSE/Namibia Overall Index rallied for a second day, increasing 2.3 percent to 874.72 by the 4 p.m. close in Windhoek. The Ghana Stock Exchange Composite Index snapped four days of increases, losing 0.8 percent to 1,067.6 by the 3 p.m. close in Accra.

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

Gamma Civic Ltd. (GML MP), Mauritius’s biggest construction company by market value, rose the most in two weeks, gaining 15 rupees, or 3.9 percent, to 405 rupees after l’Express newspaper reported it will enter a strategic alliance with Colas Maurice Ltd., giving Gamma access to modern building materials.

Guinness Nigeria Plc (GUINNESS NL), the nation’s second-biggest brewer by market value, advanced for the first day in three, rallying 1.97 naira, or 1 percent, to 202 naira after Morgan Stanley initiated coverage of the stock with an “overweight” recommendation.

Kenya Reinsurance Corp. (KNRE KN), a state-owned reinsurer, gained for a fourth day, its longest winning streak in 3 1/2 months, adding 5 cents, or 0.5 percent, to 10.15 shillings after profit rose 16 percent to 1.54 billion shillings ($18.3 million) in the 12 months through December, according to a statement e-mailed by the Nairobi Stock Exchange today.

Unilever Nigeria Plc (UNILEVER NL), which produces Omo washing powder and Lipton tea, fell the most in more than a week, slumping 49 kobo, or 1.9 percent, to 25.01 naira after Morgan Stanley initiated coverage of the stock with an “underweight” rating.

To contact the reporters on this story: Kamlesh Bhuckory in Port Louis via Johannesburg at 1933 or gbell16@bloomberg.net 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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