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Sub-Sahara Africa Stocks: First City, Kenya Airways, UAC Move

March 19 (Bloomberg) -- The Nigerian Stock Exchange All-Share Index gained for the first time in four days, adding 2 percent to 21,060.21 by 2:30 p.m. in Lagos, according to data compiled by Bloomberg.

Mauritius’s SEMDEX Index fell for a fourth day, declining 0.3 percent to 1,755.88 at the close. The FTSE/Namibia Overall Index slipped 1.2 percent to 912.36 in Windhoek. Kenya’s All-Share Index gained for a third day, adding 0.3 percent to 60.28 in Nairobi.

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

First City Monument Bank Plc (FCMB NL), a Nigerian lender, gained for the first time in 11 days after reporting revenue rose 28 percent to 80.4 billion naira ($510 million) in the year through December. The shares climbed 2.5 percent to 3.7 naira.

Kenya Airways Ltd. (KNAL KN), sub-Saharan Africa’s third-biggest airline, fell to its lowest close in more than seven years on speculation a planned rights offer will dilute the value of existing shares. The stock declined 1.3 percent to 14.95 shillings, the lowest since October 2004, according to data compiled by Bloomberg.

National Bank of Kenya Ltd. (NBKL KN), a state-owned lender, dropped to its lowest level in more than a month after reporting full-year earnings declined, missing estimates. The stock slumped 3.5 percent to 19.15 shillings.

UAC of Nigeria Plc (UAC NL), a food-products maker and fast-food restaurant operator, rose the most since November on speculation it will pay a full-year dividend. The stock rose 5 percent, the daily limit, to 30.45 naira.

United Basalt Products Ltd. (UBP MP), a Mauritian construction company, dropped the most in almost three years on bets the building industry is set for stagnation. The stock fell for a second day, retreating 5.7 percent, the most since April 2009, to 100 rupees.

To contact the reporter on this story: Robert Brand in Cape Town at rbrand9@bloomberg.net

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

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