| Georgian Weekly Market Watch (January 14 – January 18) |
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21/01/2013 23:48 (147 Day 09:22 minutes ago) | |||||
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The FINANCIAL -- Last week, London traded Bank of Georgia Holdings (BGEO LN) share price increased 3.2% to GBP 12.33. During the week, up to 287,000 shares were traded in the range of GBP 11.74-12.33.
In the debt world, Georgia Sovereign (GEORG, +0.8% to 118.2), Georgian Oil and Gas Corporation (GEOROG, +0.3% to 105.5), Georgian Railway (GRAIL 07/22, +0.5% to 118.0) and Bank of Georgia (GEBGG, +0.4% to 104.1) Eurobonds prices were all up.
On the Georgian Stock Exchange, only Liberty Bank (BANK GG) shares were traded closing at GEL 0.0065 (up 8.3% w/w), while the BG Index was almost unchanged at 485.0.
As for the treasury debt, Ministry of Finance sold one-year T-bills in the amount of GEL 10mn with the yield ranging between 6.08-6.10%. Average yield equalled 6.09% (down 19bps). The next five-years T-notes auction is planned for January 23 with total estimated emission of GEL 10mn.
Georgia’s money transfer inflows grew 7% y/y in December -- Total money transfers in December grew 9% y/y to US$ 146mn, as foreign workers sent US$ 134mn in remittances back to Georgia (up 7% y/y). Russia accounted for around 54% of total foreign money transfers in December followed by Greece (12%) and Italy (7%).
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