Thursday, January 28, 2021
  • About Us
  • ImagiNATION
  • Adverts
  • Rate Card
  • Contact Us
The Nation Online
  • Home
  • News
  • Politics
  • Business
  • Entertainment
  • Life & Style
    • Every Woman
      • Soul
      • Family
    • Religion
    • Feature
  • Society
  • Opinion
  • Sports
  • Chichewa
  • Enation
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Entertainment
  • Life & Style
    • Every Woman
      • Soul
      • Family
    • Religion
    • Feature
  • Society
  • Opinion
  • Sports
  • Chichewa
  • Enation
No Result
View All Result
No Result
View All Result
Home Business Business News

TNM dips stock market

by Johnny Kasalika
01/01/2013
in Business News
2 min read
0
Share on FacebookShare on TwitterShare on WhatsAppShare on LinkedinLinkedinShare via Email

Shareholders of TNM plc will probably end the year on a bad note as the counter’s share price has continued to dip two weeks in a row.

RelatedHeadlines

Report outlines tourism sector key constraints

More growers shun tobacco, says Tama

Rudevit intensifies capital mobilisation drive

Stock market analysts say there are no chances that the stock price will gain before the year ends.

They have attributed this to the expected 30 percent drop in after-tax profit from the previous year largely because of foreign exchange losses incurred following the 50 percent devaluation of the kwacha on May 7 this year, according to the company’s trading statement issued this month.

Last week, according to the Malawi Stock Exchange (MSE) weekly report, TNM share price lost 6.2 percent or 10 tambala to close the week at K1.40 per share with four million shares transacted.

The loss in TNM share price pulled down the indicative Malawi All Share Index (Masi) by 20.35 points to 6 015. 51 points following the drop in the domestic share index by 16.24 points, despite Standard Bank gaining 68 tambala to close the week at K128.23 per share with more than 22 000 shares transacted.

Analysts have attributed the bank’s good tidings to the expected profit jump in the year ended December 31 2012.

Standard Bank company secretary Etness Chanza said in trading statement on Friday that the bank’s after-tax profit is expected to be 70 percent higher than the previous period.

During the week, the MSE recorded trading activity in eight counters, namely; FMB, Illovo Sugar (Malawi) Limited, National Bank of Malawi, Nico Holdings Limited, National Investment Trust Limited, Standard Bank and the only foreign counter, Old Mutual plc (OML).

A total of 4.4 million shares were transacted during the week raising K26.7 million ($79 310.42) in 12 deals, according to the weekly report.

Previous Post

PAC stamped its authority in 2012

Next Post

Critics of Malawi’s protest demos ignorant—Kapito

Related Posts

Some of the stunning animals at Lengwe
Business News

Report outlines tourism sector key constraints

January 27, 2021
Tobacco growers grading their crop
Business News

More growers shun tobacco, says Tama

January 27, 2021
Nyirenda: We are extremely excited
Business News

Rudevit intensifies capital mobilisation drive

January 27, 2021
Next Post
kapitoo | The Nation Online

Critics of Malawi’s protest demos ignorant—Kapito

Trending Stories

  • Walking in her late mother’s shadows: Miracle

    New mashup draws mixed reactions

    0 shares
    Share 0 Tweet 0
  • Donors up game in Covid-19 fight

    0 shares
    Share 0 Tweet 0
  • SA returnees in forced quarantine

    0 shares
    Share 0 Tweet 0
  • Budget off rails

    0 shares
    Share 0 Tweet 0
  • Spread hope not fear

    0 shares
    Share 0 Tweet 0

Opinions and Columns

My Turn

When schools become inaccessible, a glimmer of hope in a coding boot-camp

January 27, 2021
My Turn

Behaviour change key in Covid-19 fight

January 25, 2021
Emily Mkamanga

Citizens power brings change

January 24, 2021
Search Within

The rural farmer needs to take centre stage

January 24, 2021
  • Values
  • Our Philosophy
  • Editorial policy
  • Advertising Policy
  • Code of Conduct
  • Plagiarism disclaimer
  • Disclaimer
  • Privacy Policy
  • Terms of use

© 2021 Nation Publications Limited. All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Entertainment
  • Life & Style
    • Every Woman
      • Soul
      • Family
    • Religion
    • Feature
  • Society
  • Opinion
  • Sports
  • Chichewa
  • Enation

© 2020 Nation Publications Limited. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.