[2008-02-26]  DFCU Closes Week At a Low
DFCU Group's share price weakened close at its lowest in two months despite a surge in demand for its shares institutional buyers.
The stock shed off Shs30 to close at Shs650 on Thursday down from Shs680 at the week's opening. But the for the past 2 consecutive weeks, the stock has realised significant demand from corporate buyers and foreign investors, who are looking at returns from the stock beyond today.
"Dfcu Limited trade volumes doubled to 2.3m shares, indicating firm institutional interest in the company's stock for the second session running.
As the release of the company's FY07 results draws nearer, increased demand is likely due to expectation of an improved financial performance from Financial Year 2006," African Alliance analyst said in a note.
However, the counter had recorded at 2.4 million shares traded, by close of the week earning its self a spot behind Stanbic Bank Uganda (SBU). The bank accounted for 6.1 millions shares of 8.6 total volumes traded, but at low of Shs235 down by Shs5.
Meanwhile, British American Tobacco (BATU) share price ended on a high note gaining by shs60 during the week. Uganda's biggest processed tobacco leaf exporter also registered 7,570 in stock sales as the share price roared to Shs1, 350 from Shs1, 290, the previous Monday.
The stock has been predicted to continue sowing good performance as the company near the date of releasing its financial results, before May. Other gainers included Bank of Baroda (BOBU) by shs30, to Shs2,655 from Shs2,625 from and New Vision Limited (NVL) which gained by Shs30 to close at an all time high of Shs1,690. The All time share index lost by 0.72 to close at 867.4.

Source: copyright@ AllAfrica