DCI silent ahead of festive season

The local stock market agenda was somewhat lightweight as there were no gainers for the week in a long time.

Motswedi Securities weekly financial markets highlights show that despite the silence of the domestic counters, the trades were quite higher than those traded in the prior week, with Letshego trading about 50 percent of volumes while Choppies and Turnstar exchanged 26.8 percent and 16 percent of the total volumes in that respective order.

The Domestic Companies Index (DCI) nevertheless advanced by eight basis points while the despondent activity on the foreign board led the Foreign Companies Index (FCI) to end flat at 1,566.81 points.

For the Exchange Traded Funds (ETFs), Bettabeta lost 1.8 percent to trade at 3,770 thebe per unit while Newgold tumbled by 3.2 percent to close the week at 10,990 thebe a unit. The newly listed Newfunds ETF which tracks the performance of inflation linked bonds in South Africa, has not made any movement since its listing early.

Cresta lost one percent to close the week at 103 thebe. The hotel operator is expected to do a two percent share buyback. On the financial sector, Letshego gave a third of a percent to trade at 295 thebe. The micro lender recently released a trading statement stating that all regulatory approvals have now been obtained and that Letshego will now become a 75 percent shareholder in Advans Bank Tanzania Limited (ABT) with effect from November 10, 2015. On the foreign board, Lucara softened by 0.2 percent to end the week trading at 1,375 thebe.

Editor's Comment
Botswana needs proper rehabilitation centres

Our sister publication The Monitor earlier this week carried a story on serious human rights abuses being meted on people who have gone for rehabilitation at a boot camp in Kgatleng. Allegations cite verbal and physical abuses, children being stripped of their dignity and shaved in front of others. While the abuse came to light after a suicide incident of a 23-year-old, Botswana Institute for Reintegration and Rehabilitation of Offenders’...

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