Trading floor records decline

April 24, 2009 05:58:41 PM

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Decline in trading activities was witnessed this week with 12,935 shares exchanging hands in 12 transactions on the South Pacific Stock Exchange trading floor.

These transactions raked in a total consideration of $39,167 compared to 45,060 shares trading in eight transactions the previous week garnering a consideration of $60,370.

SPSE chief executive Jinita Prasad said market capitalisation declined slightly over the week by 0.1 per cent to close at $974,728,805.

She said the drop in the market capitalisation could be attributed to the fall in share prices of Foster’s Group Pacific Limited (FGP) and Fijian Holdings Limited (FHL) by 0.1 per cent and 3.3 per cent, respectively.

“The manufacturer of alcohol beverages, FGP registered a drop of a single cent in its share price closing the week at $13.78,” Prasad said, adding the stock traded in a single transaction with 70 shares exchanging hands, garnering in an aggregate consideration of $965.

On the restricted board, FHL share price closed $0.10 below the opening market price of $3.00.

She said the stock saw 12,865 shares exchanging hands to accumulate $38,202 in consideration.