Business News

PCL jolts MSE into action

Press Corporation Limited (PCL) was last week the only counter that pushed the performance of the Malawi Stock Exchange (MSE), resulting in the market being marginally bullish.

Stock Exchange
Stock Exchange

Due to PCL’s price gain, the Malawi All Share Index (Masi) increased by 70.4 points to settle at 13 539.39 points from 13 468.99 points week before.

A total of 13.4 million shares were transacted during the week, raising K66.82 million in 26 deals.

The Domestic Share Index (DSI) settled at 10 650.54 points from 10 594.54 points in the previous week while the Foreign Share Index (FSI) remained stable at 1 740.76 points.

According to MSE, PCL share price jumped by about nine percent from K319 to K344.10 due to confidence in the company’s performance after releasing a cautionary statement that its half year profit will be 40 percent more than the prior period.

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