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Sri Lanka shares slide

March 20, 2009 (LBO) - Sri Lankan shares ended slightly weaker Friday, dragged down by heavyweights, in thin trade with conglomerate John Keells Holdings ending firmer after its AAA rating was confirmed, brokers said.
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The All Share Price Index edged down 0.26 percent (4.24 points) to end at 1,621.81 while the more liquid Milanka fell 0.

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75 percent (12.56 points) to close at 1,672.41.

Turnover was 77 million rupees.

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JKH, the third most actively traded stock, ended up 1.32 percent or 75 cents at 57.75 after Fitch Ratings confirmed the group's AAA rating with a 'stable' outlook.

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Shares of the loss-making Dialog Telekom fell 2.13 percent or 10 cents to close at 4.


60 rupees, near its all-time low of 4.
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50.

Seylan Merchant Leasing, whose share price has risen sharply in recent weeks on takeover talk, went up almost three percent or 50 cents to end at 17.

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50

Seylan Merchant Leasing is part of the troubled Ceylinco group which is selling off subsidiaries to raise funds to repay depositors of a collapsed unlisted subsidiary, Golden Key.

Sri Lanka's largest leasing company People's Leasing Company, a unit of state-run People's Bank, is in talks to buy Seylan Merchant Leasing.

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