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Vietnam index hits 3-mth high, FPT soars on buyout talk
July 18, 2014 / 8:46 AM / 3 years ago

Vietnam index hits 3-mth high, FPT soars on buyout talk

HANOI, July 18 (Reuters) - Vietnam's benchmark VN Index
 rose 1 percent on Friday to 596.26 points, the highest
close since April 11, with technology firm FPT gaining
on speculation of a buyout by a company in Silicon Valley,
analysts said.
    FPT shares jumped 6.28 percent to close at 52,500 dong
($2.48), the highest since May 6, with volume hitting a
five-year high of 3.26 million shares, Reuters data showed.
    The rumour was carried on several websites locally and could
not be immediately verified. A total buyout of a domestic listed
firm by an overseas company is not permitted in Vietnam, where
foreign stakes are capped at 49 percent.
    Other blue chips also advanced, including dairy product
maker Vinamilk, which gained 3.1 percent. Property firm
Vingroup rose 1.45 percent.
    Volume was solid at 144 million shares, well above the
five-day average of 117 million, according to Reuters data.
    Here is a snapshot of the VN Index at the close (0801
GMT).
                VN Index      596.26             
             PREV. CLOSE      590.37             
                % CHANGE       1.00%             
                                                 
                    HIGH      596.26             
                     LOW      589.33             
                                                 
       Change (%) 1-mnth       3.166             
       Change (%) 3-mnth       1.734             
       Change (%) 1-year      18.667             
                                                 
            52-week high      609.46    25-Mar-14
            52-week low       462.13    30-Aug-13
 ($1 = 21,170 dong)

 (Reporting by Mai Nguyen; Editing by Martin Petty)

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