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Sub-Sahara Africa Stocks: Conoil, Equity Bank, Guaranty Trust

July 19 (Bloomberg) -- The Nigerian Stock Exchange All-Share Index declined for the first time in seven days, retreating 0.8 percent to 23,097.79 by the close in Lagos, according to data compiled by Bloomberg.

Kenya’s All-Share Index gained 0.8 percent to 68.1 in Nairobi. Mauritius’s SEMDEX Index declined 0.1 percent to 1,744.89 in Port Louis. The FTSE/Namibia Overall Index advanced 0.2 percent to 899.67 in Windhoek.

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

Conoil Plc (CONOIL NL), a marketer of petroleum products in Nigeria, gained the most in almost three months, climbing by the daily limit of 5 percent to 23.76 naira. The company will pay a dividend of 2.50 naira after full-year net income rose 6 percent to 2.95 billion naira ($18.2 million), it said on a statement on the website of the Nigeria Stock Exchange today.

Equity Bank Ltd. (EQBNK KN), Kenya’s largest lender by customers, gained 1.2 percent to 22 shillings, the highest close in almost four weeks. First-half earnings are likely to increase as much as 20 percent, Faith Atiti, an analyst at Nairobi-based Sterling Investment Bank, said by phone today.

Guaranty Trust Bank Plc (GUARANTY NL), Nigeria’s biggest lender by market value, rose to the highest in more than four years, adding 0.6 percent to 17.50 naira. First-half profit may rise to as high as 42 billion naira ($260 million), Abiola Rasaq, a Lagos-based analyst at Vetiva Capital Management Ltd., said by phone today.

KenolKobil Ltd. (KNOC KN), Kenya’s largest fuel retailer by Market, rose to the highest in more than a week, jumping 1.3 percent to 15.65 shillings. Oil advanced to a seven-week high in seven weeks on rising concern that the Middle East will lose stability, disrupting supplies from a region responsible for about 30 percent of world production.

To contact the reporter on this story: Stephen Gunnion in Johannesburg at

To contact the editor responsible for this story: at

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