Probable Upcoming Takeover Bid on Sotuver

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.

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