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Sub-Sahara Africa Stocks: Cooperative Bank, Nigerian Breweries

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March 6 (Bloomberg) -- Kenya’s All-Share Index gained for the 11th day, extending the longest rally since September 2010, rising 0.5 percent to 60.3 in Nairobi.

The FTSE/Namibia Overall Index fell for a fourth day, slumping 2.2 percent in Windhoek, the most since Dec. 14. The Nigerian Stock Exchange All-Share Index advanced for a fourth day, the longest rally since Jan. 10, increasing 1.5 percent to 20,926.31 at 2:30 p.m. in Lagos, according to data compiled by Bloomberg. Mauritius’s SEMDEX Index rose 0.1 percent to 1,780.43.

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

Cooperative Bank of Kenya Ltd. (COOP KN), the East African nation’s fifth-largest lender by market value, surged 7.9 percent to 12.95 shillings, the biggest gain since June 2009, on speculation full-year earnings to December will grow.

“I would expect it to rise on expectations of earnings; I expect at least 30 percent growth in earnings after tax,” Renaldo d’Souza, a research analyst with Genghis Capital Ltd., said by phone from Nairobi today.

Nigerian Breweries Plc (NB NL), the country’s biggest brewer by market value, gained 1.5 percent, the most since Feb. 17, to close at 94.90 naira, after full-year profit advanced 25 percent.

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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