Although Tunisia's stock market started the week on the right foot, by the middle of the week it was quick to lose its vigor due to weak trading volumes.
The most actively traded shares showed little activity, thus leading to a minor change in the closing figures of the market's indexes, relative to the previous Friday. The TUNINDEX gained merely 0.48 percent, closing at 1451.72 points, whereas BVMT remained almost unchanged at 1405.86 points.
Both Sotetel and tunisair experienced declined trading volumes, due to the rise of fuel prices that increased the energy expenditures for the companies. Sotetel closed at DT183.
Tunisair experienced slight volatility as a result of the new alliances that the company is expected to form— the latest one with US Delta Airlines, for the launch of transatlantic flights from Tunisia.
Biat and Amen Bank were among the few shares to rise, closing with impressive gains of 4.55 percent and 3.25 percent respectively—due to their positive semi-annual financial results. Biat ended the session at DT23, Amen Bank at DT21.58.
The insurance company Carte, however, lost all of the profits it had made last week, plummeting 27 percent to DT26.53.
Sitex was the best performer of the week, with exceptional five-day gains, closing at DT9.04—its highest annual figure—an increase of 13 percent. The rise was due to positive investor reaction to Sitex's announcement of its recovery, and the diversification of its activities in new textile products.
Nonetheless, the stock market's trade volume remained modest relative to that of last week—amounting to merely DT12.13 million. —(Albawaba-MEBG)
© 2000 Mena Report (www.menareport.com)
