Colombo stocks open mixed
2008-10-08 11:45:35

Colombo stocks opened mixed on Wednesday morning, after sharp falls on Tuesday, with the All Share Price Index falling marginally by 6.06 points to 2,101.12 in early trade, brokers said.

They said the market also reacted to reports quoting Richard Pieris Co (RPC) Group Chairman Dr Sena Yaddehige as saying the company wants to exit from Maskeliya Plantations. Maskeliya and Richard Pieris stocks have been see-sawing in the past few days on speculation of a takeover bid at Maskeliya.
The company, in response to an inquiry from the Colombo Stock Exchange, said that discussions are underway over a possible divestment of the shares of RPC Management Services (Pvt) Ltd which holds a controlling interest in Maskeliya Plantations.

Maskeliya Plantations however gained 50 cents to Rs 28.75 with 510,900 traded in the morning while Richard Pieris also gained marginally for a stock of 49,400 shares by 25 cents to Rs 47.

Janashakthi Insurance shares totalling 8.7 million shares were traded a rupee higher at Rs 11 but stock analysts couldn’t pin any reason for this large stock moving. John Keells Holdings was unchanged at Rs 80 while Dialog fell 25 cents to Rs 7.50 on 204,200 shares trades in mid-morning. The Milanka gained slightly by 0.10 points to 2,342.83 .