
TUNINDEX drops 1.9% as banks and insurers lead the slide
The TUNINDEX fell 1.9% to 20,450.39 points and the TUNINDEX20 lost 1.97% to 9,018.07, with banks down 2.49% and insurers off 2.88%. The selloff also hit materials, with the Building and Construction Materials index down 1.69% at 886.92 and the Basic Materials index off 1.09% at 9,238.03, after a week when financials had resisted a materials-led pullback, according to a July 24 analyst report. Among stocks, Carthage Cement reported a 6% drop in revenue at end-June, while a recovery is starting in the second quarter with cumulative local revenue stable at TND 128 million, according to Tustex, African Manager and Leconomiste Maghrebin. SOTUVER was boosted by first-half demand for olive-oil packaging and also announced a new strategic partner, according to Tustex, while Délice Holding posted a very slight rise in first-half revenue and One Tech Holding released its second-quarter activity indicators, according to Tustex and Business News.
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