Category: Markets
Colombo stocks drip lower through the week, foreign selling continues
June 29, 2018 (LBO) – The Colombo Stock Exchange (CSE) continued its slow bleed as stocks closed the week down from the previous period. Both major indices were down on the week. The All Share Price Index (ASPI) was down .5%, and the S&P SL 20 was off 1.1%. The trend of marginal foreign selling continued […]
CB Governor defends Deputy Governor from unfounded allegations
June 28, 2018 (LBO) – Central Bank Governor Indrajit Coomaraswamy on Thursday issued a special statement defending his fellow Central Banker Nandalal Weerasinghe. The statement is a reply to former Finance Minister Ravi Karunananyake who has repeated his allegations in the recent days against Senior Deputy Governor of the Central Bank, Dr. Nandalal Weerasinghe. “As […]
Sri Lanka’s outlook remains stable but is conditional on reforms: World Bank
June 28, 2018 (LBO) – World Bank says a challenging domestic political environment has already taken a toll, slowing down some reforms and complicating the stable medium-term outlook and an impending election cycle which will only elevate this risk. World Bank, releasing its June 2018 edition of the Sri Lanka Development Update said the reforms are […]
Anilana (ALHP) investor to make mandatory offer at 18% premium
June 28, 2018 (LBO) – The Securities and Exchange Commission of Sri Lanka (SEC) has approved investment into Anilana Hotels and Properties (ALHP) by Singapore based SOMAP International. The investment by way of private placement will result in an infusion of Rs667mn (US$4.2mn) into the company at Rs1.3/share. After the private placement SOMAP will own […]
More pain as afternoon selloff takes Sri Lanka stocks to lowest close in 2018
June 26, 2018 (LBO) – The Colombo Stock Exchange sold off in the afternoon after being up for the first half of the session. The selloff took the market to the lowest close year to date, ahead of a poya (full moon) holiday tomorrow. The broader indices were both weak, with the ASPI closing down […]
IMF working paper suggests new Keynesian models for monetary policy decisions
June 26, 2018 (LBO) – An International Monetary Fund (IMF) working paper released yesterday suggested the Central Bank of Sri Lanka use new Keynesian models for monetary policy analysis and forecasting purposes. IMF working paper said small new Keynesian models, which are increasingly used in central banks for monetary policy analysis and forecasting purposes are […]
Colombo Stock Exchange (CSE) turnover starts the week at embarrassing levels
June 25, 2018 (LBO) – Colombo stocks started the week slowly with both major Sri Lanka equity indices (ASPI and S&P SL 20) finishing slightly in the red. Turnover was Rs176mn (US$1.1mn), one of the lowest figures for 2018. Experts say that these levels of turnover depict a market that appears nonfunctional, particularly to foreign […]
Tokyo Cement (TKYO) reports a loss as Sri Lankan construction industry slows in Q1
June 24, 2018 (LBO) – The Central Bank of Sri Lanka recently released its first quarter GDP report. Growth was a tepid 3.2% for the quarter ended March 31, 2018. Digging deeper, one saw a rebound in agriculture with a growth of 4.4%, and services meandering along with the same 4.4% year over year growth […]
Colombo stocks in a slumber to finish the week
June 22, 2018 (LBO) – The Colombo Stock Exchange finished the week with not a bang, but a whimper. Stocks finished flat with both major indices (ASPI and S&P SL 20) closing almost unchanged. Turnover was very light at Rs277mn (US$1.7mn). The recent trend of foreign selling continued with today’s net foreign sales of Rs72mn […]
Anilana (ALHP) reports another loss as east coast tourism struggles
June 21, 2018 (LBO) – Colombo Stock Exchange listed Anilana released financial results for the quarter and the year ended March 31, 2018.The loss for the quarter was Rs104mn, and the year was Rs330mn.These results are similar to the prior year where the company lost Rs276mn. Anilana was one of a few companies that made […]
Colombo stocks snap losing streak, turnover weak
June 21, 2018 (LBO) – The stock market in Sri Lanka finally snapped a long losing streak finishing up slightly on the day. The major indices (ASPI and the S&P SL 20) both finished marginally in the green after spending most of the day in the red. Turnover was weak again at Rs416mn (US$2.6mn). Net […]
Opinion: Stock Brokerages in Sri Lanka should publish audited accounts on the CSE website
June 21, 2018 (LBO) – Choosing a stock broker in Sri Lanka can be a confusing process.There are 15 member firms and 12 trading member firms listed on the Colombo Stock Exchange (CSE) website. There is nothing else on the website that can help a potential client evaluate which is the best firm to transact […]