Category: Economy and Markets
Sri Lankan stocks close down 0.28-pct
Aug 11, 2010 (LBO) – Sri Lankan stocks closed down Wednesday, as investors opted to take defensive positions on speculative shares despite Tuesday’s rally, while Environmental Resources Investments (ERI) group shares lost ground, brokers said. The All Share Price Index closed at 5,078. 64, down 0.28 percent (14.30 points) Wednesday, while the Milanka index of […]
Sri Lankan stocks close up 4.73-pct
Aug 10, 2010 (LBO) – Sri Lankan stocks rallied and closed sharply higher, bouncing back over the 5,000 points mark Tuesday, after plunging at the opening, brokers said. In a privately negotiated off-the-floor deal, Perpetual Capital bought 908,000 shares of Housing Development and Finance Corporation (a 14.03 percent stake) at 310.00 rupees per share. Institutional […]
Sri Lanka advised to improve connectivity to prosperous areas
Aug 10, 2010 (LBO) – The World Bank has advised Sri Lanka to change its development approach and improve access of people to prosperous parts of the country instead of shifting economic activity to lagging regions. These measures include investment subsidies, tax rebates, local regulations, local infrastructure development and targeted investment climate reforms, such as […]
Sri Lankan stocks close down 3.99-pct
Aug 09, 2010 (LBO) – Sri Lankan stocks continued to slide and fell below the 5,000 points mark Monday, on panic selling by retail investors unable to meet margin-calls, while heavy interest on Commercial Bank boosted turnover past a billion rupees, brokers said. Most high value blue chip stocks held their value despite the market […]
Sri Lanka central bank warns of more shocks, urges policy stability
Aug 09, 2010 (LBO) – Sri Lankan Central Bank governor Nivard Cabraal warned possible economic shocks in future could take different forms and urged policymakers to stick to their policies despite pressure for change in the short term. Policy makers have to learn to balance different competing interests when administering the policies needed to restore […]
Sri Lankan stocks close down 1.41-pct, ERI worst hit
Aug 06, 2010 (LBO) – Sri Lankan stocks continued to slide Friday, as retail investors on borrowed funds continued selling to minimize losses, while a large private deal on Commercial Bank boosted turnover, brokers said. The All Share Price Index closed at 5,065.07, down 72.31 points, while the Milanka index of more liquid stocks slid […]
Sri Lankan stocks fall 1.49-pct
Aug 05, 2010 (LBO) – Sri Lankan stocks fell Thursday as investors backed-off after the market regulator slapped a 10 percent upward and downward price band on all listed securities, while PC House’s Initial Public Offer was oversubscribed, brokers said. The All Share Price Index closed at 5,137.38, down 77.46 points, while the Milanka index […]
Sri Lanka Treasuries yields fall
Aug 04, 2010 (LBO) – Sri Lanka’s Treasury bill yields slipped 12 to 20 basis points Wednesday with one year yields falling most, auction results from the government debt office showed. The debt office sold 1.1 billion rupees in 3 months bills, 4.8 billion rupees in 6-month bills and 7.6 billion rupees in 12-month bills. […]
Sri Lankan stocks close up 1.12-pct
Aug 04, 2010 (LBO) – Sri Lankan shares closed up Wednesday, from price gains on selected midcap and high value stocks, while a private deal on Asian Hotels and heavy retail interest on market debutant Odel, boosted turnover, brokers said. The All Share Price Index closed at 5,214.84 up 58.01 points, while the Milanka index […]
Sri Lanka bond auction yields slip
Aug 04, 2010 (LBO) – Sri Lanka’s 4-year bond yields slipped 13 basis points to 9. 40 percent and 6-year bonds fell 3 basis points to 9.65 percent and 10-year bonds were at 9.80 percent Tuesday, results released from the government debt office showed. The government sold 1.4 billion rupees worth bonds from the 4-year […]
Sri Lanka to issue US$1bn bond in Sept
Aug 04, 2010 (LBO) – Sri Lanka is to issue an international sovereign bond of a billion dollars around September 2010 to raise cash to fund infrastructure and retire debt, the central bank said in a statement. “The proceeds from the bond issue would be use for infrastructure development and to restructure the existing government […]
Sri Lanka stocks weaken
Aug 03, 2010 (LBO) – Sri Lankan stocks weakened Tuesday, interrupting a bull-run as the regulator suspended trading in several speculative shares that brokers said might hit market sentiment. The All Share Price Index closed at 5,148. 34 down 0.67 percent (34.51 points) while the more liquid Milanka index eased 0. 86 percent (50.87 points) […]