USE surges as indices soar on strong half-year results
The Uganda Securities Exchange has released its half-year performance results, which were above expectations. The Securities All Share Index surged by 25.14%, reaching 1,289 points, driven by a rally in cross-listed Nairobi Securities Exchange stocks, which also boosted locally listed companies. Meanwhile, the Local Companies Index gained 30.42% to 338 points, attributed to strong performance from the MTN, Quality Chemical Industries Ltd, Bank of Baroda, UMEME, and Stanbic counters. There was also a significant rebound in government papers to retail investors. Joan Salmon reports
