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Sub-Sahara Africa Stocks: Diamond Bank Nigeria, Kenya Commercial

The FTSE/Namibia Overall Index dropped 2.1 percent, the first fall in four days, to 883.32 in Windhoek.

Kenya’s All-Share Index climbed for a second day, up 0.3 percent to 60.22 in Nairobi. Mauritius’s SEMDEX Index gained for a second day, rising 0.2 percent to 1,804.61. The Nigerian Stock Exchange All-Share Index increased 0.4 percent to 20,934.47, a second day of gains in Lagos, according to an e-mailed statement from the bourse.

The following shares rose or fell in sub-Saharan Africa, excluding South Africa. Stock symbols are in parentheses.

Diamond Bank Plc (DIAMONDB NL), a Nigerian lender, rose for a second day, advancing 2.4 percent to 2.54 naira, after the Lagos-based bank said yesterday it plans to raise $200 million through a private placement and ask shareholders for permission to enter into merger or acquisition talks, as first-quarter pretax profit rose more than fourfold.

Kenya Commercial Bank Ltd. (KNCB KN), the East African nation’s largest lender by assets, jumped 2.2 percent to 23 shillings, the highest since Aug. 4, on speculation earnings will improve.

Oando Plc (OANDO NL), a Nigerian energy company, dropped for an eighth day, falling 4.8 percent to 19 naira. Oil tumbled after the Energy Department said U.S. stockpiles surged the most since 2008 as U.S. crude output climbed to the highest level in 12 years.

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