ZSE:- Industrials rises for 3rd straight session as Minings remain strained

Published: 10 June 2013

ZSE's Industrials rose for the third consecutive day on Thursday helped by strong performance in Econet and BAT while the resources sector remained strained.

The Industrials Index added 0.34 points or 0.18% to 187.01, another fresh high, while the Minings Index eased 0.82 points or 1.01% to 80.46 as Falgold lost 1 c to 16c.

Turnover improved to $2,318 million on a volume of 12.18 million shares spurred by a special bargain of 7 million Truworths shares executed by brokers Imara at 3.65c.

Telecoms heavyweight Econet remained looked strong after adding 5.02c to another all-time high of 660.02c after announcing the integration of its mobile money transfer platform, EcoCash, with Stanbic's banking system, Econet is now up 46.7% this year to date.

BAT added a massive 44.90c to close at an all-time high of 550c taking its gains since January to 52.8% and 205.6% up on a year on year basis. CBZ recovered 0.51c to 11.51 c ahead of its finals and analysts briefing next Tuesday.

Innscor remained unchanged at 100c in significant deals worth almost $1 million while its offshoot Padenga dropped 0.15c to 4.95c. Delta traded unchanged at 125c in deals worth a significant $874 401.

PPC was 10c firmer at 260c on the back of reports the cement maker is planning to build a $200 million cement plant in Harare. Powerspeed added 0.30c to 1.8c.

Conglomerate TA Holdings recovered 1 c to 8c while TSL advanced 1 c to another all-time best of 17c on the back of a 2012 final dividend of 0.43c to be paid on March 7.

Aico Africa, which is trading under its unbundling of subsidiaries cautionary, dropped 1c to 8c. SeedCo traded unchanged at 70c.

Meikles which recently confirmed it had applied for diamond mining licence to regulatory authorities was 1c weaker at 23c.

The Datvest All Share Index was 0.45 points or 0.36% higher at 124.82 while the blue chips measure added 0.56 points or 0.43% to 130.93.

The Dual Listed Index led Zfris 12 sectoral indices on the up side after gaining 1.68 points or 1.07% to 158.70 on the back of gains in PPC.
- zfn