ZSE:- Industrials falters as blue chips Delta, Innscor continue to trade lower

Published: 10 June 2013
ZSE's Industrials faltered on Wednesday as heavyweights Delta and Innscor continued to trade lower and again managed to cancel out gains in Econet.

The Industrials Index dropped 0.29 points or 0.16% to 182.04 while the Minings Index remained stable at 80.15 as the resources sector remained inactive.

Delta dropped another 2c to 122.5c while Innscor was also 2c down at 92c largely attributed to profit taking after a good run in the past month. Colcom eased 0.19c to 26.31c.

Econet jumped 21.19c to an all-time high of 641.2c ahead of the EGM to approve 10 for 1 share split at the end of this month. The gains however failed to cancel out losses in Delta and Innscor.

Other notable counters to trade lower were bankers Barclays which lost 0.40c to 3c and ZBFH which dropped 0.50c to 8.5c. Cement manufacturer Lafarge was 1c weaker at 70c while poultry counter CFI eased a marginal 0.10c to 4.3c.

Please note that there were no trades in NicozDiamond as indicated on our price sheet. NioozDiamond closed buyers only at 1.1c.

NMB shares traded unchanged at 1.15c after CEO James Mushore told analysts yesterday that the group will raise $50 million lines on the back of $16 million new capital secured from offshore investors.

Art, which is trading under cautionary, picked up a modest 0.05c or 10% to 0.55c.

CBZ, which is due to release its December finals at the end of this month added 0.50c to 11.5c while Meikles, which is expected to partner the Zimbabwe Mining Development Corporation in mining diamonds in Chiadzwa, rose 1c to 23c.

TSL added 0.03c to 15.03c and remained highly favoured in the wake of its upbeat financials where a final dividend of 0.43c was declared.

Total market turnover at $1.205 million on a volume of 3.540 million shares was sightly up from yesterday's $1,166 million for a volume of 20.83 million shares.

The Datvest All Share Index eased a modest 0.04% to 121.58 while Econet's gains helped the FBC ZSE-10 Index to scratch out a 0.03% rise to 126.60.
- zfn
Tags: ZSE, Industrials,


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