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Sub-Sahara Africa Stocks: Oando of Nigeria, KenolKobil Decline

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Dec. 14 (Bloomberg) -- The FTSE/Namibia Overall Index retreated for a fifth day, slumping 2.4 percent to 816.29 in Windhoek, the longest losing streak since the 11 days through Aug. 10.

The Ghana Stock Exchange Composite Index tumbled for a ninth day, dropping 2.1 percent to close at 943.84, the longest decline since January. The Nigerian Stock Exchange All-Share Index weakened 0.1 percent to 19,849.31 in Lagos, according to a statement on the bourse’s website. Mauritius’s SEMDEX Index fell 0.1 percent to 1,857.64 by the end of trading. Kenya’s All-Share Index gained 0.8 percent to 54.53 in Nairobi.

The following shares were active in sub-Saharan Africa, excluding South Africa. Stock symbols are in parentheses.

Oando Plc (OANDO NL), a Nigerian oil company, tumbled 5 percent to 23.09 naira, the lowest close since Sept. 30. Oil fell from a one-week high in New York as the Organization of Petroleum Exporting Countries agreed to raise its production ceiling, moving the group’s supply target nearer to current output levels.

KenolKobil Ltd. (KNOC KN), a Kenyan fuel retailer with operations in nine African countries, fell 2.7 percent to 9.05 shillings, the biggest fall on a closing basis since Nov. 28.

To contact the reporter on this story: Chris Kay in Abuja at ckay5@bloomberg.net

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

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