TUNINDEX falls 0.42% as SOTUVER sees 2.2 mln dinars in block trades
The TUNINDEX fell 0.42% to 15,423.06 points and the TUNINDEX20 lost 0.45% to 6,822.96 on March 27, according to the Tunis Stock Exchange daily report. SOTUVER stayed in focus with 2 block trades worth 2.2 million dinars on March 27, according to Tustex, after the stock was suspended on March 12 following an acquisition request for 41.28% of the capital, according to La Presse de Tunisie and Webmanagercenter. Business News reported on March 12 a takeover by Portugal's BA Glass, while African Manager said on March 13 that several bidders were in the running, keeping the situation fluid. Elsewhere, BIAT weighed on the index despite a 5.7% gain in Telnet on March 27, according to the exchange report, while Poulina Group and LAND’OR remained affected by a CMF-requested suspension on March 18, according to MSN.
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TUNINDEX slips 0.22% as SOTUVER stays central to flows and disclosures
The TUNINDEX fell 0.22% to 18,565.68 points on October 21, while the TUNINDEX20 lost 0.26% to 8,129.55 points, according to market data. Financial stocks cushioned the decline, with the financial companies index down 0.14% at 15,165.33 points and the insurance index up 0.08% at 29,510.36 points, while household and personal care products dropped 1.43% to 3,289.6 points. SOTUVER stayed at the center of the story, with revenue up 31% at September 30 according to Tustex, after first-half foreign flows jumped to TND 218 million on BA Glass-SOTUVER, also according to Tustex. The stock had also ranked among the sharpest decliners on September 23, according to webmanagercenter, while African Manager reported on October 7 that an insurance indemnity supported earnings even as operating profitability eroded, and the company published 2 calls for candidates on October 21 for 1 minority-shareholder board seat and 1 independent director seat.
TUNINDEX rises 0.27% as SOTUVER stays central to flows and earnings
The TUNINDEX rose 0.27% to 18,606.5 points and the TUNINDEX20 added 0.24% to 8,150.83 on Oct. 20, according to the market note, with financial stocks cushioning pressure from the dinar and oil. Banks gained 0.49% to 14,003.4 points, financial services rose 0.41% to 29,082.18 and financial companies added 0.46% to 15,186.4, offsetting a 1.78% drop in basic materials to 8,226.6. SOTUVER stayed at the center of the story: revenue rose 31% by Sept. 30, according to Tustex, after African Manager reported on Oct. 7 that an insurance indemnity had supported earnings while operating profitability eroded. Foreign flows jumped to 218 million dinars in the first half, driven by BA Glass-SOTUVER according to Tustex, after a sharp Sept. 23 drop in SOTUVER flagged by webmanagercenter, while UNIMED is seeking 2 independent directors, according to Tustex.