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AfricaMoney | August 23, 2017

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Stock Exchange of Mauritius sees indices dip as investment cluster major ENL Land disappoints.

Stock Exchange of Mauritius sees indices dip as investment cluster major ENL Land disappoints.

The Stock Exchange of Mauritius closed lower last week, with the broader Semdex dipping 0.3% to hit 1875.63 points even as the SEM-10 fell by 0.1% to 360.78 points, as ENL Land Ltd in the investment cluster fell by 3.2% followed by Terra Mauricia Ltd dropped of 2.4%. The SEMSI index which  tracks the price-performance of companies demonstrating  strong sustainability practices listed on the SEM ended at 98.92 points , 0.2% higher over the previous week.

The Stock Exchange of Mauritius saw its indices end on a negative note last week as the broad equity index, the Semdex, decreased by 0.3% to hit 1875.63 points, while the blue chip index, the SEM-10 declined by 0.1% to close at 360.78 points.

Overall, the SEM recorded a total turnover of Rs 68.2 million for the week ended Friday, 6 November 2015.

Dominant market player and financial services major MCB Group Ltd posted a positive performance with gain of 0.8% to close at Rs 213.00 on Friday, 6 November 2015.

Other components of the SEM-10 depicted that the banking sector’s overall performance was mixed, with the value of MCB shares declining while SBM Holdings Ltd remained flat at Rs 0.79.

In the investment cluster segment, a downward performance was noted, with ENL Land Ltd shares declining in value by 3.2% to end at Rs 46.00.

Moreover, besides ENL Land Ltd , Alteo Ltd and Terra Mauricia Ltd also ended the week on a negative note with a drop of 0.1% and 2.4% in share price respectively  while Rogers & Co. Ltd posted a positive performance with a 1.7% gain. Other investment stocks in the SEM-10, namely and CIEL Ltd, remained flat at Rs 6.80

In the hospitality cluster, New Mauritius Ltd remained constant at Rs28.32, while   Lux Island resorts posted a negative performance of 1.7 % to close at Rs57.50.

Coming to the top three performers of the week, Compagnie des Magasins Populaires Ltée  gained 5.0%, followed by Mauritius Oil Refineries Ltd  and Atlantic Leaf Properties Limited  – (GBP)` which gained 1.8% each respectively.

On the downside, the weakest performances on the bourse were logged by Gamma Civic Ltd, BlueLife Limited   and ENL Land Ltd, which recorded decreases of 7.4%, 5.2% and 3.2% respectively.

Following the Official Market, the Development and Enterprise Market (DEM) closed on a negative note this week, with losses of 0.5% to end at 199.00 points on November 6, 2015, mainly attributed to the drop in value of Ascencia Ltd (Class A Shares )  .

As for the SEMSI index which has been newly introduced by the SEM the index declined by 0.6% to reach 99.35 points mainly due to the which the major market player MCB Group Ltd lower performance.

During the week, major market news was the Mauritius Union Assurance Cy Ltd  (MUA) communiqué announcing regarding recent press articles in relation to the Plaint with Summons lodged by the Special Administrator of the BAI Co. (Mtius) Ltd and its related companies against the MUA & 20 other Co-Defendants , the company informs its clientele, shareholders of MUA, stakeholders and the public in general that the insurance policies subject matter of the Plaint are fully reinsured. The above parties are advised to solely refer to official announcements issued by MUA. The Plaint will be defended by MUA, as per the terms and conditions of the contracts and currently discussion is in process over  the matter with reinsurers.

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