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Botswana Stock Exchange Market Commentary

Date 28/06/2004

The market gave up some of its recent gains as BIHL lost 4.7% or 15 thebe to close the week on P3.00 with 912,616 shares trading during the week.

Another big cap, Sechaba shed 3.1%, or 40 thebe to close at P12.40 on 200,473 shares. Gains were recorded in Engen (up 35 thebe to P17.85 on 23,000 shares); FNBB up 5 thebe to a new 12 month high of P8.65 on thin volume of 17,903 shares; and Stanchart, which rose 13 thebe (1.8%) to close at P6.98. Letshego traded in reasonable volume of 387,667 unchanged at P1.30, ahead of their impressive interims published Friday. On the venture capital board, Turnstar picked up 10 thebe or 11.7% to 95 thebe on 44,200 shares.

Total value traded for the week rose on the back on increased activity at P15,123,307 on 2,964,579 shares.

Currencies: The Pula strengthened against both the US$ (1.6%) and the Sterling (2.3%) this week but lost 0.6% against the Rand.