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| Friday, 12 March 2004 |
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Stock market up The Colombo Stock Market moved up during the first week of February. A large decline was recorded on the 9th with the ASPI dropping by 10.54% from the previous day's close and the MPI falling by 13.97%, states the monthly market report of the Colombo Stock Exchange. However, the market took positive turn and the market showed a recovery on February 11. The ASPI, which opened at 1,016.7 on February 11, closed the month at 1,224.9, rising by 208.2 or 20.48%. The MPI, which opened at 1,729.4 on February 11, showed an even larger gain at the end of the month, with index closing at 2089.9. This was an increase of 17.25% or 360.5. Globally, the Dow Jones Industrial Average and NASDAQ composite index posted their highest gains since early February. There was also positive news from Tokyo as the Nikkie 225 ended the month 2.08% to 20-month high, due to optimism about the outlook for the Japanese economy. European markets too showed improved prices as investors gained confidence from the recovery on Wall Street and also the performance in Tokyo. Death of ANCL staffer's father C. Gunasiri, a retired school teacher, the father of R. A. Thilak Ganganatha of the Production Department, Lake House passed away. After an illustrious period of service as a teacher at Sri Parakramabahu Vidyalaya, Narahenpita from 1981 Gunasiri retired from service in 1996. He was 64 years at the time of demise. The cortege leaves residence at 514/5, Aluthmawatha Road, Colombo 15. Cremation at the General Cemetery, Madampitiya on Saturday, March 13 at 4.00 p.m. Wijedasa Rajapakse to continue as ANCL, SLRC director Mr. Wijedasa Rajapakse, PC who had earlier resigned from the posts held by him on the request by the Minister of Information and Telecommunications Lakshman Kadirgamar, PC has agreed to continue in his post of Managing Director, Associated Newspapers of Ceylon Ltd. and in the position held at the Sri Lanka Rupavahini Corporation as a member of the Board of Directors. Mr. Rajapakse, a leading attorney-at-law by his letter addressed to the Minister had indicated that he be relinquished his positions due to personal reasons. The Minister requesting him to reconsider his decision had stressed on the needs of his continuous services at this important juncture and accordingly he will continue to function in his post of Managing Director, ANCL and as a Member of the Board of Directors of SLRC. |
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