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HomeNewsTunisia: Tunindex records cumulative decline of 4% since murder of Brahmi

Tunisia: Tunindex records cumulative decline of 4% since murder of Brahmi

The Tunis Stock Exchange (TSE) was hit by the events that took place in the country over the past few days, with the Tunindex recording a cumulative decline of 4% during three sessions: from July 26 to 30, according to CEO of the Stock Exchange Mohamed Bechiou.

The Tunindex slid 1.66% to 4,566.71 points on Friday, July 26 one day after the assassination of opposition politician Mohamed Brahmi, he indicated.

He added that though this decline slowed to 0.73% on Monday, the downward trend of the stock index was back on Tuesday after the massacre of eight soldiers of the National Army, a day during which the Tunindex closed at 4,479.33 points, down 1.19%

Mr. Bechiou said the stock exchange is the first financial institution to be hit by the security events.

In addition to the impact of the performance of listed companies and the economic situation in Tunisia, the stock exchange is suffering directly from the impact of the security situation and political infighting, he noted.

However, the position of the Tunisian General Labor Union (UGTT) and the statements of its leaders and some politicians promoted a revival of activity on Wednesday, July 31 with a 0.88% increase in the Tunindex to 4,518.97 points, said the CEO of the stock exchange.

The stock market was strongly hit last February after the assassination of opposition politician Chokri Belaid, registering a 3.86% decline in its index, on the day of the murder, i.e. its highest drop in two years.

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