ZSE:- Industrials see-saws back into positive territory in midweek trades

Published: 10 June 2013

Industrials see-sawed back into positive territory in midweek trades as rising counters outnumbered those trading lower by 11 to 4 while most heavyweight counters traded unchanged.

The Industrials Index recovered 0.70 points or 0.38% to 185.91 while the Minings Index remained stable at 64.79 for the second consecutive day as counters in the resources sector remained unchanged from previous levels.

Trading volumes eased with the daily total turnover closing at $1,069 million on a volume of 8.925 million shares from $1,294 million on a volume of 2.697 million shares that traded yesterday.

Aico Africa recovered 1.90c or 46.34% to 6c snapping its recent downward trend that saw the price falling to a 52-week low of 4.1c.

Cafca also gained 15c or 50% to 45c to recover from its lowest level in 52 weeks of 30c. MD Rob Webster recently told the AGM that turnover for the 4 months to January is up 14%.

DZLH was 0.50c firmer at 29.5c ahead of its finals and analysts briefing this afternoon while Edgars added 0.35c to another all-time best of 12.7c taking its gains this year to date to 58.8%.

FBC and Turnall remained stable at 8c and 5.5c ahead of their respective analysts briefings this afternoon.

Lafarge remains buoyant after adding 9c to 90c, its all time best level first reached on September 27 last year in the wake of an upbeat trading update by MD Jonathan Shoniwa projecting F13 revenues at $90 million from $70 million in F12.

Zimplow Holdings added 0.50c to 4.5c while ZPI was 0.05c firmer at 1.3c, its all-time high after recording revenue increase of 31.5% to $5.1 million in F12 from $3.9 million in the prior year.

There were only 4 counters to trade lower with Barclays losing 0.10c to 3.3c, Colcom easing 2c to 24c, Powerspeed down 0.20c to 1.5c while SeedCo dropped 4c to 62c.

Heavyweight counters were largely stable with Delta and Econet trading unchanged at 122c and 67.11c respectively. Innscor was also stable at 81.09c ahead of its interim dividend of 0.80c record date on Friday.

The Datvest All Share Index recovered 0.43 points or 0.34% to 126.91 whilst the heavyweights' measure, the FBC ZSE-10 Index was 0.19% weaker at 133.31, weighed down by losses in SeedCo.

- zfn