Category: Markets
FCID arrests Nalaka Godahewa over misuse of SEC funds
Dec 07, 2015 (LBO) – Sri Lanka’s Police Financial Crimes Investigation Division has arrested Former Chairman of Securities and Exchange Commission, Dr. Nalaka Godahewa on charges of financial fraud involving five million rupees. The Police said he was arrested after arriving at the FCID on Monday morning to provide a statement. Two individuals including a […]
CSE sets mandatory rules on Related Party Transactions
Dec 07, 2015 (LBO) – The Colombo Stock exchange has mandated the rules relating to Related Party Transactions by all Listed Companies from 01 January 2016.Accordingly, section 9 of the CSE Listing Rules set out the relevant rules applicable in the event a listed entity enters into a related party transaction. The salient features of […]
Sri Lanka’s CSE eyes more global investors through new CCP
Dec 07, 2015 (LBO) – Sri Lanka’s Colombo Stock Exchange (CSE) is aiming for more international investors by introducing a new risk management system through establishing a Central Counter Party (CCP) system, a senior official said.“We need to manage the risk of the CSE – this is an area that we are lacking in,” Vajira […]
Sri Lanka stocks close down 0.2-pct: Net foreign outflow
Dec 04, 2015 (LBO) – Sri Lankan stocks closed down 0.16 percent with losses in index heavy stocks amid low investor activity, brokers said. The Colombo benchmark All Share Price Index closed down 11.10 points at 6,869.56 down 0.16 percent. S&P SL20 closed 7.54 points lower at 3,638.56 down 0.21 percent. Turnover was low at […]
Sri Lanka equity earnings down 6 pct in Q3 on diversifieds, telcos: CT CLSA
Dec 04, 2015 (LBO) – Sri Lanka equity market earnings declined 6 percent in the third quarter of this year largely due to lower earnings in diversified and telecommunications sectors, CT CLSA said in a research report. A slowdown in banking, finance and insurance added to this performance, the securities firm said. On a twelve-month […]
Sri Lanka stocks close up 0.3-pct
Dec 03, 2015 (LBO) – Sri Lankan stocks closed up at 0.26 percent after sixth straight day of losses backed by gains in index heavy and some banking sector stocks, brokers said. The Colombo benchmark All Share Price Index closed up 17,87 points at 6,880.66 up 0.26 percent. S&P SL20 closed 9.93 points higher at 3,647.68 […]
Sri Lanka stocks close down 0.5-pct: Institutional activity
Dec 02, 2015 (LBO) – Sri Lankan stocks closed down at 0.47 percent for the sixth straight day on Wednesday with losses in John Keells Holdings and some banking stocks, brokers said. The Colombo benchmark All Share Price Index closed down 32.40 points at 6,862.79 down 0.47 percent. S&P SL20 closed 13.54 points lower at 3,637.80 […]
Single party owns 95 pct of govt securities available to foreign investors
Dec 01, 2015 (LBO) – A single foreign party owns 95 percent of Sri Lanka’s government securities available to foreign investors, raising questions about risk-management practices of the Central Bank.Funds of Franklin Templeton held around 290 billion rupees in government securities, out of 304 billion rupees of securities available to foreign investors, according to published […]
Sri Lanka stocks close down 0.75-pct: Near eight month low
Nov 30, 2015 (LBO) – Sri Lankan stocks closed down at 0.75 percent on Monday for a fourth consecutive day, recording the highest intra-day drop since September and closed at nearly eight month low, brokers said. The Colombo benchmark All Share Price Index closed down 52.26 points at 6,909.15 down 0.75 percent. S&P SL20 closed […]
Stocks: Three reasons Euro area stocks are compelling
By Steve Brice The volatility in recent months shattered the relative calm that had prevailed in global financial markets for nearly four years. Almost all major equity markets corrected more than 10 per cent during the summer and many emerging markets entered a bear market. October’s rebound came as welcome relief, helping make up most […]
China stocks fall 5.4 pct on brokerage probes
Nov 27, 2015 (LBO) – China equities closed down 5.4 percent on Friday on the back of investigations by China’s securities regulatory body into brokerages for breaking regulations.The Shanghai Composite closed 5.48 percent lower. Chinese brokerages plunged with Citic Securities, Founder Securities, and China Merchants closing 10.1, 10, and 9.98 percent lower on news of […]
Sri Lanka stocks close lower 0.04-pct: Continued loses in JKH and banks
Nov 27, 2015 (LBO) – Sri Lankan stocks closed down at 0.04 percent on Friday with losses in John Keells Holdings and some banks, brokers said. The Colombo benchmark All Share Price Index closed down 2.59 points at 6,960.78 down 0.04 percent. S&P SL20 closed 6.31 points lower at 3,698.69 down 0.71 percent. Turnover was […]