Sri Lanka shares end down

Feb 24, 2009 (LBO) – Sri Lankan shares ended weaker Tuesday on low volumes with tableware exporter Dankotuwa Porcelain falling after news that it had lost a big American export customer, brokers said.

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The All Share Price Index eased 0.43 percent (7.50 points) to end at 1,726.91 while the more liquid Milanka eased 0.53 percent (9.84 points) to close at 1,833.88.

Turnover was 66 million rupees.

Lanka Cement was the most actively traded stock, ending down 50 cents at 13.50 rupees.

The state-owned company was in the news again with reports over the weekend of a foreign investor keen to tie up with the firm to set up a floating cement bagging plant.

The company has a defunct plant in northern Jaffna whose revival is being eyed by at least four foreign cement firms once the govenrment’s war against Tamil Tiger rebels, now in its last phase, ends.

Dankotuwa Porcelain, which reported the loss of a big American export customer, suffered the second sharpest fall of the day, ending down 11.54 percent or 75 cents at 5.75 rupees.

Dialog Telecom, among the heavily traded shares last week, closed flat at 4.90 rupees

John Keells Holdings, which generated much activity last week by buying bigger stakes in three subsidiary firms, closed down 50 cents at 64.75 with 178,700 shares done.