Nigerian Bank Nigeria Nigerian Stock Exchange – Sub Sahara Africa Stocks – CFC Ghana Commercial Oceanic Union

Source BusinessWeek: Dulue Mbachu And Emily Bowers, 25 March 2010

The Nigerian Stock Exchange All- Share Index rose to a seven-month high, advancing 0.4 percent to 25,126.20 at the close in Lagos, Bloomberg data show.

Kenya’s All-Share Index climbed for a fourth day, increasing 0.7 percent to 69.32 at the close in the capital, Nairobi.

Mauritius’s SEMDEX Index rose for the first day in five, rallying 0.3 percent to 1,644.59 at the close in the capital, Port Louis.

The Ghana Stock Exchange All-Share Index increased for a fourth day, rising 0.2 percent to 5,860.16 in the capital, Accra.

Namibia’s Overall Index increased 1.1 percent to 804.65 in the capital, Windhoek.

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

CFC Stanbic Holdings Ltd. (CFCB KN) declined 25 cents, or 0.6 percent, to 42 shillings, its lowest close in 5 1/2 years. The Kenyan lender said annual profit declined by more than 25 percent.

Ghana Commercial Bank Ltd. (GCB GN), the West African nation’s biggest lender by branches, rose for the first day in eight, climbing 3 pesewas, or 3.5 percent, to 88 pesewas. The Ghanaian government said it would provide 445 million cedis ($315 million) to clear state-run Tema Oil Refinery Ltd.’s debt with the bank.

Oceanic Bank International Plc (OCEANIC NL), reached a two- week low, closing 5 kobo, or 2.4 percent, lower at 2.05 naira. Union Bank Nigeria Plc (UBN NL) fell the most in a week, declining 30 kobo, or 4.9 percent, to 5.85 naira. Renaissance Capital placed a “sell” recommendation on the stocks in resumed coverage.

Nigerian Bank Nigeria Nigerian Stock Exchange, Oceanic Bank International Plc, Union Bank Nigeria Plc