LOLC Securities market snapshots

§  Sri Lanka to grow 7.0-pct in 2012: ADB

Sri Lanka will grow 7.0 percent in 2012 with tighter monetary policy brought in to strengthen the exchange rate and cut inflation and will rebound to 8.0 percent in 2013 the Asian Development Bank said. - LBO

§  Sri Lanka tourist arrivals up 21-pct in March

Sri Lanka's tourist arrivals rose 21.3 percent to 91,102 in March from a year earlier with arrival in the first three months up 21.1 percent to 260,525, the state tourist promotion agency said. – Daily FT

§  Sri Lanka's state-run Bank of Ceylon (BOC) has been given a 'B1' rating by Moody's Investors services ahead of planned bond sale in international capital markets with a 'stable' outlook. – LBO

§  Fitch Ratings has assigned Sri Lanka's Bank of Ceylon (BOC) long-term foreign- and local-currency Issuer Default Ratings (IDRs) of 'BB-' with stable outlooks - LBO

§  Taprobane to list via introduction

The CSE has approved in principle an application by the Taprobane Holdings Ltd. to list via introduction.The listing of approximately 733 million ordinary voting shares will be on the Diri Savi Board. – Daily FT

§  CSE says 10 more listings via introductions pending

The Colombo Stock Exchange (CSE) said yesterday that at least around 10 more listings via introductions are pending approval. This follows a flood of applications during the last week of March as the Securities and Exchange Commission (SEC) directed that requests for listing via introductions won’t be entertained after 1 April 2012. - DailyFT

§  Soros warns euro crisis could destroy the EU

Billionaire George Soros warned on Monday that the euro crisis is growing deeper, tearing at the fabric of European Union cohesion, because policymakers are prescribing the wrong remedies. – Reuters

§  Six Senses shelves plans to list on CSE

World-renowned leisure brand Six Senses is most likely to shelve its plans to list its regional business unit on the Colombo Stock Exchange (CSE). – Daily Mirror

§  Asian stocks rose, with the regional benchmark headed for its biggest gain this month, after the International Monetary Fund raised global economic forecasts and Spain sold more debt than targeted, boosting the earnings outlook for exporters. - Bloomberg

§  Oil traded near the highest close in two weeks after the International Monetary Fund boosted its growth outlook and a Spanish debt sale raised more than planned, easing concern an economic slowdown will curb crude demand. - Bloomberg