TNM plc dips market
Share price loss in TNM plc last week dipped the Malawi Stock Exchange (MSE) by 0.2 percent despite the bourse registering share price gains in Standard Bank and Old Mutual plc (OML).
TNM lost 10 tambala to close the week at K1.75 per share, a 5.4 percent decrease from K1.85 per share, according to a weekly market report.
Standard Bank share price went up 1.7 percent to K120 from K118 per share while OML, the only foreign counter on MSE, ticked up by 0.91 percent to end the week at K550 per share from K545.
The combined gain in share price increases in OML and Standard Bank at seven tambala was not enough to offset the share price loss in TNM.
Market analysts say the gain in Standard Bank is not surprising as investors are responding to its half year results.
The bank declared an interim dividend of K9.37 per share.
In the week, apart from activity in the three counters, Real Insurance Malawi Company Limited, Illovo Sugar (Malawi) Limited and FMB also registered trading activity but with no share price gains.
