The SEMDEX saw a slight uptick today, gaining 0.1% to close at 2,154.74 points.
Financials were mixed as MCBG climbed 0.3% to MUR 378.00 on 17.2k shares traded, while SBMH dipped 0.2% to MUR 4.81 on 1.2m shares traded. CIM (-0.9% to MUR 10.90) and MUA (-1.1% to MUR 87.00) both trended downwards.
For the 9 months ended 31 March 2024, LUX Island Resorts reported a 21% increase in revenue to MUR 7.4 bn, attributed to the reopening of LUX* Belle Mare following its closure the previous year and a stronger performance by the Mauritian hotels with higher ADR (Average Daily Rate) and RevPAR (Revenue Per Available Room) for the period. Attributable profit remained flat at MUR 1.0 bn as the rise in EBITDA (after accounting for compensation with respect to LUX* Belle Mare and other gains) was offset by higher depreciation & amortization, finance costs, and tax expenses.
International Markets
US equities experienced an upswing on Monday, as technology stocks rebounded and geopolitical tensions in the Middle East subsided. Tesla's stock price, however, declined after the company announced price cuts on several of its models across multiple markets.
European markets began the new trading week positively on Monday, with broad gains. UK’s FTSE 100 climbed 1.6% to close at a record high, driven by a strong performance across sectors, especially financials and consumer-linked stocks.
Asia-Pacific markets largely gained on Monday, recovering from Friday's decline. Japan's NIKKEI 225 concluded 1.0% higher, while the HANG SENG surged nearly 2%. Conversely, China's CSI 300 slid 0.3% after the central bank maintained the one-year and five-year loan prime rates unchanged at 3.45% and 3.95%, respectively.
Regional Markets
South African markets extended their positive momentum, registering gains for the third straight session, propelled by advances in prominent pharmaceutical and retail stocks.
Kenyan stocks faced selling pressure on Monday, dragged lower by losses in prominent companies like Safaricom (-1.5%), Equity Group (-5.3%), and East African Breweries (-1.7%).
FX & Commodities
Crude oil experienced a modest decline on Monday after Iran stated it would not escalate the conflict with Israel. The Iranian Foreign Minister informed NBC News that the country does not intend to retaliate against Israel's retaliatory strike carried out on Friday.
Similarly, gold plunged on Monday, putting the yellow metal on track for its first loss in three sessions.
