Published: 10 June 2013

ZSE's rising momentum built up since January 3 continued on Thursday with strong performance from the market's heavily capitaised counters spurred by an upbeat trading update from Delta.

The Industrials Index added 1.43 points or 0.91% to 16.33 taking gains since January 1 to 7.17% while the Minings Index eased a modest 0.01% to 73.13 as RioZim lost 0.01c to 57.99c after reported disruptions at its Renco Mine operations.

Volumes eased but the total market turnover remained above the psychological $1 million level at $1,537 million on a volume of 3.784 million shares.

Delta shares rallied to an all-time high of 110c and looked strong after publishing its 3rd quarter trading update where lager beer volumes were 5% ahead of prior year and 7% up for the 9 months to December while revenue was up 14% and 16% year to date supported by improved mix and minimal price increases.

Another heavyweight counter Econet advanced 3.99c to 510c after announcing its subscriber base has reached 8 million for the first time owing to the introduction of Buddie Zone service.

Conglomerate Innscor added another 0.90c to 79c} just shy of its all-time best price of 81c reached first on October22 last year.

There is renewed interest in BAT shares which saw the price rising 5% to 420c whilst Hippo picked up 5c to 125c its best level in 52 weeks. Dual listed Old Mutual added 4.90c to 170c.

Medtech was the top riser on the day after adding 0.17c or 566.67% to 0.2c on a paltry volume worth just $175. The counter last traded at 0.03c while its best level in 52 weeks is 0.1 c.

Other notable risers were Fidelity Life which added 1c to 11c while Tumall added 0.50c to 6c after reports that an unnamed Russian resources firm has joined the race to acquire Turnall stake for $35 million.

Bankers were mixed again with CBZ dropping 0.20c back to 10c while Barclays added 0.10c to 3.6c amid reports that government is now targeting banks to comply with empowerment laws.

Meikles eased 1c to 23c while M&R eased 0.04c to 2.8c. SeedCo was 0.01c weaker at 77c while parent company Aico Africa dropped 0.10c to 9c.

The Zfn board was largely in the green with 9 out of 12 sectoral indices closing in the positive territory. The Property Index eased 1.69 points or 1.71 % to 97.21 as Pearl Properties dropped 025c to 2.3c. The Retail and Mining sectors remained stable at previous levels.
- zfn