Shares for Blantyre Hotels Limited (BHL), which have for a long time not made any sales, last week increased by 60 tambala to trade at K7 each on the Malawi Stock Exchange (MSE).
This is contained in MSE’s update for the week ending 28th October, 2011.
The report says the share price upward movement in BHL pushed up the market’s overall price movement indicator, the Malawi All Share Index (Masi) by 1.83 points.
“The Masi closed at 5039.30 points due to an increase in the Domestic Share Index by 1.47 points from 3973.38 points to 3974.84 points as a result of a share price gain in BHL by 60 tambala to K7,” MSE says.
Financial market analysts have attributed the non-transaction of shares in BHL, which runs Protea Ryalls Hotel in Blantyre, to lack of more shares and investors need to earn.
“The company has for long not declaring dividends and many of its investors would like to make money from their investment that is why they have been holding on to the shares,” the analyst said.
The Foreign Share Index, which records movement for the market’s only foreign counter Old Mutual, was stable at 535.42 points.
The market says it recorded trading activity in 12 counters which included First Merchant Bank, Malawi Property Company (Mpico), Press Corporation Limited, Standard Bank, Nico, NBS Bank, Illovo, National Bank of Malawi, TNM Limited and Old Mutual.
A total of 13,460,065 shares were transacted during the week at a total consideration of K655,081,671 (US$3,900,284.71) in 42 deals.