Sub-Sahara Africa Stocks: Centum, Dangote, Kenya Airways, Mumias

Kenya’s All-Share Index fell for a second day, losing 0.4 percent to 64.25 in Nairobi.

The Nigerian Stock Exchange All-Share Index snapped nine days of declines, rising 1.1 percent to 21,121.86 in Lagos, according to data compiled by Bloomberg. Mauritius’s SEMDEX Index retreated 0.1 percent to 1,792.79 by the close in Port Louis. The FTSE/Namibia Overall Index weakened 0.5 percent to 886.83 in Windhoek.

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

Centum Investment Co. (CENTUM KN), Kenya’s largest investment company, advanced 1.4 percent to 14.75 shillings, the biggest gain since April 23.

The company’s investment income will receive a boost from the exposure to short term government securities at a time when interest rates were rising, Francis Mwangi, head of research at Nairobi-based Standard Investment Bank Ltd., said in a phone interview from Nairobi today.

Dangote Cement Plc (DANGCEM NL), Nigeria’s largest company by market value and the biggest producer of the building material in Africa, rose 3.4 percent to 105.50 naira, the most since April 18, after the Lagos-based company said its new plant at Obajana with capacity for 5.25 million metric tons a year, started production.

Kenya Airways Ltd. (KNAL KN), sub-Saharan Africa’s third-biggest airline, retreated for a fifth day, erasing 1.8 percent to 14 shillings, the lowest since April 18, on concern full-year profit may decline more than forecast.

“The company is trading on a profit warning; so what the market is not sure is whether they are going to go into an outright loss or what level of profit fall will be reported,” Eric Musau, a research analyst at Nairobi-based Standard Investment Bank Ltd., said in a phone interview today. KQ, as the airline is known, will announce earnings June 14.

Mumias Sugar Co. (MSUG KN), Kenya’s biggest producer of the sweetener, gained 1.7 percent to 5.90 shillings, the highest level since April 23, as the commodity advanced.

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