The beginning of the last quarter of the year was marked by a significant pullback in a market that has been rocketing for two consecutive weeks. Profit taking was at the origin of the drop, together with unfavourable corporate news in bad semi annual financials for flag carrier Tunisair (-9.57%) which posted 38.4MTnd of half hear losses. The backward move was widespread and all the sectors were down. Blue Chips were especially under pressure of sell off and the banking sector continued to slide (-0.7%) with 9 banking stocks down against 2 stocks up. The reason behind this drop is doubtless the exposure of some banks to the risk of household appliances' retailer BATAM suffering financial dire straights.
The Agri-business sector has lost the majority of last week's gains on falling sector heavyweight -6.82% SFBT. SFBT has also carried away the gains of its Investment Subsidiary (SPDIT -5.8%) which holds a stake of 5.5% of the capital of SFBT and which is preparing to sell before the end of this year.
The week has also seen the rights' issue of ASTREE (1.600Tnd/share).
