The Ghana Stock Exchange Composite Index declined for the third day, slipping 0.5 percent to 1,162.67 by the 3 p.m. end of trading in Accra, the lowest closing level in two weeks. The Nigerian Stock Exchange All-Share Index advanced for the second day, gaining 0.4 percent to 25,829.75 by the 2:30 p.m. close in Lagos, according to an e-mailed statement from the exchange. Kenya’s All-Share Index climbed for the third day, increasing 0.1 percent to 75.01 by the 3 p.m. close in Nairobi. Mauritius’s SEMDEX Index rose 0.1 percent to 2,083.35 by the 1:30 p.m. close in Port Louis. The following shares rose or fell in sub-Saharan Africa, excluding South Africa. Stock symbols are in parentheses.
Barclays Bank of Kenya Ltd. (BCBL) , the country’s second-biggest lender by market value, dropped for the first in 12 trading days, falling 50 cents, or 0.7 percent, to 69 shillings. The company’s shareholders approved a four-for-one share split at its annual general meeting in Nairobi.
Jubilee Holdings Ltd. (JBIC) , a Nairobi-based insurer with operations in five African countries, plunged 16.7 shillings, or 8 percent, to 192 shillings, the biggest drop since April 6, after shareholders yesterday approved an increase in share capital to 350 million shillings ($4.1 million) from 247.5 million shillings.
“The increase will bring it down for a short while because it causes some investors to cut down on their shares due to dilution,” Rufus Mwanyasi, head trader at Nairobi-based Canaan Capital Ltd. said by phone today. The share also started trading without the right to a dividend today.
