Sri Lankan shares end weaker

June 30, 2008 (LBO) – Sri Lanka’s shares ended weaker Monday with Diesel & Motor Engineering (DIMO) and Vallibel Power Erathna being among the most actively traded stocks, brokers said. The all share price index fell 0.51 percent (12.59 points) to 2,457.84 while the more liquid Milanka price index was down 0.40 percent (12.05 points) to 2,988.78

Turnover was 774 million rupees.

DIMO ended down 7.29 percent or 8.75 rupees at 111.25 rupees with 3.5 million shares traded.

The company told the Colombo bourse it was spending 544 million to buyout the Hayleys stake of 3,397,611 shares at 160 rupees a share using provisions in the new company law that permits share buy-backs.

Hayleys ended up 75 cents at 135.75 rupees.

John Keells Holdings fell 1.35 percent or 1.50 to 110 rupees with 636,100 shares traded.

Vallibel Power Erathna, which businessman Dhammika Perera is selling to a foreign investor, topped the day’s volume with almost 2.3 million shares traded but was unchanged at 4.20 rupees.