Mauritius stock market at its highest level since 2008

Jan 07, 2011

Boosted by foreign investments, the Mauritius stock index peaked on January 4th at 1,980 points - its highest level since 2008.

In 2010, a net worth of RS1.57 billion ($51.6 millions) was invested, a record since the creation of the Port-Louis stock market.

One of the most popular investments was banks, such as Mauritius Commercial Bank (MCB) and State Bank of Mauritius.

MCB had a 19.5 per cent increase in net profits at the end of the first quarter of 2010-11 and it continues to increase its lending, with the redeployment of 89 per cent of its deposits in rupees and 78 per cent of its currencies deposits, sources at the MCB told the newspaper Grand Baie .

"We have had excellent results during the first quarter and hope that this trend will continue," Pierre-Guy Noel, MCB chief executive, said to the news provider. "But let's not forget that the market is restricted and a big part of our deposits are on short term."