Mauritius’s stocks gauge climbed to the highest in more three years

12 years, 11 months ago - May 10, 2011

Mauritius’s stocks gauge climbed to the highest in more three years, led by Mauritius Commercial Bank. New Mauritius Hotels Ltd., the biggest leisure group by market value, rose as second-quarter profit jumped 25 percent.

The 37-member SEMDEX Index rallied 0.9 percent to 2,086.43 at the 1:30 p.m. close in Port Louis, the strongest since February 2008. New Mauritius Hotels, surged 3.9 percent, its biggest jump in three months, to 107 rupees.

Net income increased 25 percent to 268.1 million rupees ($12 million) from a year earlier, it said in a regulatory filing today. Revenue climbed to 2.11 billion rupees, from 1.97 billion rupees.

Mauritius Commercial Bank, the Indian Ocean island nation’s largest lender by market value, rose for the third consecutive trading day, its longest streak since April 11. The stock gained 1.7 percent to 183 rupees, its highest since February 2008. MCB is expected to announce improved third-quarter results, CIM Stockbrokers Ltd. Managing Director Roshan Ramoly said by phone yesterday. The results are to be released by May 13.

Text by Bloomberg

We also recommend

Europe, Asia Stocks Set for Worst Monthly Drop in Three Years on China, Fed

Stocks in Europe and Asia looked set on Monday for their worst monthly losses in at least three years, with investors still concerned about growth in China and the prospect of higher U.S. interest rates.

8 years, 7 months ago

Asia Stocks Highest Since 2008, European Central Bank Talk Pressures Euro

The euro came close to cracking on Wednesday as feverish speculation of further policy stimulus in the euro zone drove bond yields to all-time lows and lifted Asian stocks to peaks not seen in almost seven years.

9 years, 8 months ago

Mauritius stocks gain most in 2 weeks in Port Louis

Mauritian stocks rose to a two-week high amid signs the global economy is recovering, boosting demand for riskier, frontier-market assets

12 years, 7 months ago

Mauritius rupee heads for three-week low to dollar on France debt concern

The currency weakened by 0.7 percent to 28.25 per dollar by 2:09 p.m.

12 years, 8 months ago

African Alliance Securities has abandoned plans to open in Mauritius this year

“Mauritius I’ve put on hold for now, I don’t think the current liquidity in the market is suitable to sustain a stock broking business,”

12 years, 9 months ago

Mauritian stocks advanced the most in two weeks

The 37-member SEMDEX index climbed for a second day

13 years ago