Turnover in the Mauritian market remained low with value traded at MUR 83m. The Semdex was bearish losing 0.4% to 1863.5. The MUR on the other hand gained some ground against the USD up 0.5% to 29.50.
Hotels (-2.6%) edged down further on the back of concerns on the effects of the crisis in the Euro zone on tourism. Top decliners on the Mauritius bourse were Naiade Resorts (-7.8%), Air Mauritius (-6.1%) and Sun Resorts (-5.2%).
Edging up this week were Mauritius Leasing (+5.6%), Phoenix Beverages (+5.1%) and Rogers&Co. (+3.9%). Most actively traded counters were State Bank Mauritius (-1.2%), MCB (flat) and Rogers and Co. (+3.9%).
In economic news, growth in tourism numbers was sluggish in 2010 up 3.1% to 964,642 visitors last year, due in large part to sluggish growth in the Euro zone. The tourism industry is a key sector for growth in the country.
Mauritius’ trade deficit widened 7.8% to MUR 7.8bn (USD 267.8m) in November from a year earlier, due to lower earnings from exports. On a positive note, revenue collections by the tax authority were up 7.6% y/y ahead of forecasts on the back of a raise in excise duty on tobacco and alcohol.
Source:Â African Alliance