Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Sub-Saharan Africa Stocks: Access Kenya, British American Move

Jan. 4 (Bloomberg) -- Kenya’s All-Share Index fell for the first time in three days, declining 0.3 percent to 54.64 at the close in Nairobi.

The FTSE/Namibia Overall Index advanced for a third day, increasing 0.6 percent to 870.26 in Windhoek. The Nigerian Stock Exchange All-Share Index fell 0.2 percent to 20,635.07 in Lagos, according to an e-mailed statement from the bourse. Mauritius’s SEMDEX Index gained for a second day, climbing 0.1 percent to 1,890.13 by the end of trading.

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

AccessKenya Group Ltd. (ACCESS KN), the nation’s only publicly traded Internet company, jumped 8.7 percent, the most since April, to 5.6 shillings on speculation it will post a full-year profit.

“Earnings for 2011 are expected to be substantially stronger than 2010 and we are seeing a lot of position taking on the counter,” Eric Musau, a research analyst at Nairobi-based Standard Investment Bank Ltd., said by phone today. “Although it did not have a good first half, the second half is expected to be good.”

British American Investment Co. (BRIT KN), a Kenyan diversified financial services group, slumped 8.1 percent to 5.1 shillings, the most since Sept. 15, on concern its earnings will suffer from a plunge in the Kenyan stock market last year.

“In 2011 the earnings per share will be down by about 50 percent,” George Bodo, an equity strategist at Nairobi-based Apex Africa Capital Ltd., said by phone today. “Everyone in the market has factored in the risk that these guys have a huge exposure to the capital markets; that is why the market has assigned a discount to the stock.”

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

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.