Tunindex falls 1.18% as Carthage Cement and financials weigh
Tunindex fell 1.18% to 18,651.27 points and Tunindex20 lost 1.14% to 8,151.75 points on September 22, while Hannibal Lease rose 4.5% despite the broader decline, according to the Tunis Stock Exchange. The selloff was led by the Basic Materials Index, down 2.95% to 8,333.23 points, as Carthage Cement reported first-half profit of 25.1 million dinars, down 10%, according to Tustex, against the backdrop of a dispute involving tens of millions of dinars with Lazhar Sta, according to Business News. Financials also weighed, with the Financial Services Index down 1.31% to 28,730.47 points and the Banks Index off 1.05% at 13,933.23 points, even as Attijari Bank Tunisie strengthened its partnership with the EBRD, which raised its risk-sharing facility to 70 million euros, Kapitalis and Benin Web TV reported. On earnings, Délice Holding posted a 60% rise in first-half profit and secured approval for a 60.4 million dinar dividend, according to Tustex and L'Economiste Maghrébin, while Poulina Group Holding reported a 29.4% increase in first-half net profit, Challenges TN said. In industry, One Tech Holding lifted revenue to 576 million dinars, according to L'Economiste Maghrébin, and Telnet Holding reported a 17% increase in cash, while B.A. Glass's mandatory offer for SOTUVER at 13.390 dinars per share ended with 0 shares tendered, according to Challenges TN and Entreprises Magazine.
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The TUNINDEX rose 0.34% to 18,627.16 points and the TUNINDEX20 added 0.32% to 8,150.61 points, supported by financial stocks, according to market data. Banks gained 0.53% to 14,023.41 points, insurers rose 0.83% to 29,934.02 points and financial services added 0.28% to 29,002.83 points, while ASTREE jumped 4.5%, according to an Oct. 13 market note. Construction weighed on trade, with the Building and Construction Materials index down 2.53% at 801.87 points, as Carthage Cement reported first-half profit of 25.1 million dinars, down 10%, according to Tustex, amid a dispute involving tens of millions of dinars with Lazhar Sta, Business News reported. On earnings, SOTUVER posted first-half profit of 7.9 million dinars helped by insurance compensation while operating profitability eroded, according to Tustex and African Manager, and Delice Holding won approval for a 60.4 million dinar dividend, according to L'Économiste Maghrébin.
Tunis Stock Exchange — ASTREE Jumps 4.5% as TUNINDEX Adds 0.34%
ASTREE posted one of the day’s strongest gains on the Tunis Stock Exchange, rising 4.5% to 83.61 TND as financials supported the market. The TUNINDEX climbed 0.34% to 18,627.16 points despite oil pressure and a weaker dinar.