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AfricaMoney | August 20, 2017

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Stock Exchange of Mauritius moves down as banking performance disappoints

Stock Exchange of Mauritius moves down as banking performance disappoints

Decliners pushing the Sem-10 index down were mainly financial services majors the MCB Group Limited and SBM Holding Ltd which dipped by 1.5% and 1.0% respectively, followed by New Mauritius Hotel and CIEL Ltd where decreases of 0.4% and 1.2% respectively were recorded. (Image: mashable)

The island economy’s stock market ended on a negative note last week with the broad equity index, the Semdex, which reflects the official market performance, going down by 0.8%, followed by the index capturing the ten largest companies, the SEM-10, dropping by 0.9% and ending at 377.58 points.

Bluechip stocks of the SEM-10 delivered a mixed performance, with Alteo Limted’s share price rising by 0.61% for the week to close at Rs 32.75.

Decliners pushing the Sem-10 index down were mainly financial services majors the MCB Group Limited and SBM Holding Ltd which dipped by 1.5% and 1.0% respectively, followed by New Mauritius Hotel and CIEL Ltd where decreases of 0.4% and 1.2% respectively were recorded.

The top three gainers on the Mauritian bourse were Air Mauritius Ltd which inched up by 3.3% to close at Rs 15.60, followed by Phoenix Beverages Ltd which gained 1.8% and Rockcastle – a Global Business License category (GBC) one firm listed in USD on the local bourse – which climbed by 6.1% to end at USD 2.60.

The worst three performers pushing the stock market down were New Frontier Ltd – a GBC 1 category entity listed in euro denomination – which went down by 34.7%, Mauritius Chemical & Fertilizer Industry Ltd declining by 9.6% and ENL Commercial Ltd falling by 6.0%.

Major market news duting the week was dividend announcement for Lottotech Ltd. The gaming major in Mauritius declared final dividend relating to the year ended December 2014 which amounted to Rs 0.16 per share and the company also published its year end profit results revealing gross ticket sales of Rs 2.73 billion. However, despite positive financial performance, the shares of Lottotech Ltd ended at a lower Rs 8.80 at the end of last week, representing a decline of 2.2%.

Moreover CIEL Healthcare Ltd increased its stake in the Medical and Surgical Centre Ltd from 44.93%, represented by 256,064,393 ordinary shares, to 58.60%, represented by 334,004,488 ordinary shares.

Finally, market capitalization on Friday, 6 March 2015, stood at Rs 223 billion, volume traded came to 2 million and the figure for value traded was Rs 36 million on the Official Market.

- By Gunga Wazna

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