Sri Lanka shares up 0.5-pct

May 16, 2011 (LBO) – Sri Lankan shares made a comeback Monday, boosted by encouraging first quarter earnings and anticipation the regulator would further relax the margin trading credit settlement period, brokers said. The main All Share Price Index closed at 7,358.69 up 0.53 percent (38.75 points) while the more liquid Milanka index up by 0.69 percent (46.86 points) to close at 6,816.22, according to stock exchange figures.

Turnover was 2 billion rupees.

Alliance Finance was the top gainer of the day with its share up 552.3 rupees to 1435.30 while Finlays Colombo was the top loser, its share down 70 rupees to 211 .00.

The Ceylon Brewery, which announced its name will change to Ceylon Beverage Holdings, went up 46.30 rupees (8.57 percent) to close at 586.80 rupees.

Brokers said they were anticipating an announcement by the regulator further relaxing the margin trading credit settlement period when the market re-opens after being closed for religious holidays Tuesday and Wednesday.

Ceylinco Insurance closed at 685 rupees, up 52.60 with 20 million (173 million rupees) shares done.