TUNINDEX slips 0.22% as industrials weigh despite solid first-half earnings
The TUNINDEX fell 0.22% to 18,330.85 points and the TUNINDEX20 lost 0.1% to 8,016.71 points, with Financial Services down 1.1% and Industrials off 0.72%. Basic Materials dropped 1.5% to 8,053.27 points while Building and Construction Materials was nearly flat at 822.05 points, despite Carthage Cement posting a first-half profit of 25.1 million dinars, according to Webmanagercenter, and a dispute involving tens of millions of dinars, according to Business News. On the corporate front, Poulina Group Holding reported a 29.4% jump in first-half net profit, Challenges TN reported, One Tech Holding lifted revenue to 576 million dinars, according to L'Économiste Maghrébin, and Délice Holding posted a 60% rise in half-year profit after shareholders approved a 60.4 million dinar dividend, according to Tustex and L'Économiste Maghrébin. Among stocks, ASSAD jumped 4.5% on Sept. 29 despite the broader decline, while the mandatory tender offer for SOTUVER at 13.390 dinars per share drew no response from minority shareholders, according to Challenges TN and Entreprises Magazine.
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TUNINDEX rises 0.34%, led by financials despite Carthage Cement drag
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.