Tanzania: Major Indices End in Red Despite Good Market News – allAfrica.com

Despite the all-round good news, both major indices still took a beating and closed the week on the red.

The prices of both banks on the exchange, NMB and CRDB, fell during the week by 9.35% and 4% respectively.

The price of DSE climbed 1.56% during the week.

The company also has plans to launch an insurance firm with a specific mission to insure agricultural products.

The interbank rate went back to the mean reversion level at the beginning of the week, and then dropped to 3.88% at the close of the week, marking a weekly decline of 12bps.

AllAfrica publishes around 700 reports a day from more than 100 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic.

AllAfrica is a voice of, by and about Africa – aggregating, producing and distributing 700 news and information items daily from over 100 African news organizations and our own reporters to an African and global public.

…Read the full story