Sub-Sahara Africa Stocks: First Bank of Nigeria, Stanbic Gain
The FTSE/Namibia Overall Index (FTN098) snapped five days of declines, rising 2.7 percent to 838.04 in Windhoek, the highest in a week.
The Ghana Stock Exchange Composite Index fell, dropping 4.6 percent to close at 919.61, the lowest level since Jan. 4. The Nigerian Stock Exchange All-Share Index (NGSEINDX) gained 1 percent to 20,025.94 in Lagos, according to a statement on the bourse’s website. Mauritius’s SEMDEX Index (SEMDEX) fell 0.3 percent to 1,855.75 by the end of trading, the lowest since Sept. 26. Kenya’s All- Share Index (NSEASI) gained 0.3 percent to 54.57 in Nairobi.
First Bank of Nigeria Plc (FIRSTBAN) , the country’s third-biggest lender by market value, gained the maximum daily limit of 5 percent, its highest rise since Feb. 8, to 8.40 naira, as investors took positions for “attractive” gains, with Nigerian lenders’ financial years ending on Dec. 31, PAC Securities Ltd. said.
Stanbic IBTC Bank Plc (IBTCCB) , the Nigerian unit of Standard Bank Group Ltd., gained for a fifth day, rising 5 percent to 8.02 naira.
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