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Sub-Sahara Africa Stocks: KenolKobil, Sun Resorts of Mauritius

Feb. 29 (Bloomberg) -- Mauritius’s SEMDEX Index fell for a seventh day, retreating 0.6 percent to 1,773.32 by the end of trading, the lowest since October 2010.

Kenya’s All-Share Index advanced for the seventh straight day to 1.6 percent to 58.84 in Nairobi, the longest rally since January 2011. The Nigerian Stock Exchange All-Share Index fell for a third day, sliding 0.1 percent to 20,123.51 as of 2:30 p.m. in Lagos, according to data compiled by Bloomberg. The FTSE/Namibia Overall Index rose for a second day, gaining 0.4 percent to 924.54 in Windhoek.

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

KenolKobil Ltd. (KNOC KN), the Kenyan fuel retailer with operations in nine African countries, gained for a fourth day, climbing 0.4 percent to 11.6 shillings, the highest since Aug. 4, after the Nairobi-based company said full-year profit surged 70 percent as sales more than doubled after the market close yesterday.

Kenya Commercial Bank Ltd. (KNCB KN), the East African nation’s biggest lender by assets, extended gains for a fourth day, increasing 1.2 percent to 20.5 shillings, the highest since Aug. 18, on speculation full-year earnings will increase.

“KCB Bank is expected to continue trading actively with increased demand being observed on the stock” ahead of its 2011 results which will probably be released March 1, Nairobi-based Kestrel Capital East Africa Ltd. said in an e-mailed note today.

Sun Resorts Ltd. (SUN MP), Mauritius’s second-largest resort group, fell for a second day, slumping 4.9 to 39 rupees, the lowest since April 2009 as investors anticipate lower full-year earnings. The company’s loss in the third quarter through September widened to 172.5 million rupees from 133 million rupees a year earlier, Sun Resorts reported Nov. 15.

To contact the reporter on this story: Chris Kay in Abuja at

To contact the editor responsible for this story: Gavin Serkin at

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