STOCKS NEWS AFRICA- Morocco's stocks drop, BMCE, CGI in focus

STOCKS NEWS Reuters Results diary

Stocks on the move [HOT-RTRS] Real-time Equity News [E] [ZA/EQUITY]

1256GMT 13Nov09 - Morocco's stocks drop, BMCE, CGI in focus

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Moroccan stocks fall slightly on Friday with banking group BMCE (BMCE.CS) and property developer CGI (CGI.CS) falling 1.8 percent and 2.5 percent respectively a day after MSCI dropped them from an emerging market index because the shares are illiquid.

The Casablanca Stock Exchange's benchmark MASI index .MASI declines 0.39 percent.

(Reuters Messaging: tiisetso.motsoeneng.reuters.com@reuters.net)

1244GMT 13Nov09 - Mauritius stocks end flat in muted session

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Mauritius stocks end barely changed on Friday in quiet session ahead of the weekend but Naiade Resorts rallies more than 2 percent.

The Indian Ocean island's benchmark SEMDEX index .MDEX closes 0.4 percent higher at 1,710.88 points.

"It is what we can call a quiet trading day," says Roshan Ramoly, managing director of Cim Stockbrokers.

Naiade Resorts NRL.MZ surges 2.3 percent to 44.00 rupees but Sun Resorts SUNR.MZ eases by 1.3 percent to 78.00 rupees.

(Reuters Messaging: tiisetso.motsoeneng.reuters.com@reuters.net)

1223GMT 13Nov09 - S.Africa's Telkom falls on downbeat profit outlook

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Shares in Telkom (TKGJ.J) fall more than 3 percent as the South African fixed-line phone operator forecast as much as a 55 percent decline in first-half headline earnings per share. [ID:nLD666124]

Telkom, which also operates in Nigeria, is trading 3.20 percent lower at 40.90 rand, lagging a 1.08 percent gain the JSE's telecoms index .JTELE.

"The business is struggling to grow revenue and the cost base is growing ... just looking at the numbers it would be disappointing for the market," Jan Meintjes, an analyst at Gryphon Asset Management.

(Reuters Messaging: tiisetso.motsoeneng.reuters.com@reuters.net)

1052GMT 13Nov09 - Abil shares slip on lower profit expectations

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Shares in South Africa's biggest mass-market lender African Bank Investments (ABil) (ABLJ.J) slip over 2 percent after the group says it expects its full-year headline earnings per share to be 10-12 percent lower than the 252.1 cents reported last year.

Abil shares shed 2.74 percent to 29.09 rand, underperforming a 0.77 percent weaker JSE banking index .JBANK.

"I think maybe some traders might have expected better results, but I don't think in this environment it's too bad," says Rigardt Maartens, a portfolio manager at PSG Online Securities.

(Reuters Messaging: phakamisa.ndzamela.reuters.com@reuters.net)

0914GMT 13Nov09 - Richemont rises over 4 pct as results top expectations

------------------------------------------------------------------ Swiss luxury goods maker Richemont's (CFRJ.J) Johannesburg-listed shares rise more than 4 percent as a fall in its first-half operating profit beats expectations.

Shares in the company, which has also announced that its chairman Johann Rupert will also become chief executive officer, climb 4.13 percent at 23.22 rand, outpacing a flat Johannesburg Top-40 index .JTOPI.

"It's the results, they are much better than expected," says Tubby Goodwin, a trader at Investec Securities.

Richemont is the world's second-largest luxury goods group and is controlled by South Africa's Rupert family.

It posted a 39 percent fall in first-half operating profit to 390 million euros ($584.9 million), ahead of the 333 million euros forecast on average in a Reuters poll.[ID:nLD311077]

(Reuters Messaging: phakamisa.ndzamela.reuters.com@reuters.net)