ZSE:- Delta, Innscor weigh on Industrials at week's opening

Published: 10 June 2013

Heavyweights Delta and Innscor led the Industrials lower at week's opening largely on profit taking after a strong start to the New Year.

The Industrials Index dropped 0.87 points or 0.47% to 183.11 while the Minings Index remained unchanged at 83.00 as Bindura, Falgold and Hwange traded unchanged at 3.2c, 16c and 19.5c respectively.

Total market turnover remained above the psychological $1 million level at $1.380 million on a volume of 10.05 million shares with significant trades coming in from Barclays, Delta, DZLH and Econet

Innscor slid a significant 4c to 94c while Delta eased a marginal 0.02c to 124.98c as investors recoup profits after a rally that saw most counters trading at record levels.

However other Innscor's associate companies managed gains with Colcom rising 0.30c to 27c while Natfoods was 0.10c firmer at 142.1c.

Econet's 0.99c gain to another all-time high of 611 c failed to outweigh losses in Innscor and Delta. BAT was also 1 c firmer at 501 c ahead of the opening of this year's tobacco selling season on Wednesday.

Aico Africa dropped 1.50c to 10c while SeedCo remained unchanged at 60c in the wake of its profit warning statement saying earnings for the year will be lower than previously anticipated.

DZLH continued to firm after adding 0.95c to 27c, its all-time high while clothing retailer Edgars was 0.10c up at 11.1c.

African Sun led the day's risers after adding 0.16c to its best level in 52 weeks of 1.41c as the counter is still shining on projections that the company is now firmly back to profitability. Masimba led the day's fallers after dropping 0.49c or 16.39% to 2.50c.

Dual listed counter Old Mutual surpassed its all-time high of 185c to close at 185.3c while Pearl Properties was 0.10c firmer at 2.7c.

The Datvest All Share Index was 0.27% down to 121.82 while the FBC ZSE-10 Index eased 0.48% to 126.22.
- zfn