ZSE shares rebound as turnover rises to $3.2 million

Published: 10 June 2013

ZSE shares registered their first gains for the month of April on Wednesday following remarkable gains in Innscor, Natfoods and Hwange which managed to cancel out losses in Barclays, CBZ and Econet.

The Industrials Index recovered 0.52 points or 028% to 183.89 while the Minings Index added 0.61 points or 0.92% to 66.80 as Hwange recovered 0.50c at 12.5c.

Daily market turnover improved to $3,262 million on a volume of 12.67 million shares following significant trades in Delta ($787 320), Econet ($642 909), Innscor ($346 532), OK Zimbabwe ($519 508)and TSL ($110 303).

Aico Africa, which today renewed its cautionary statement saying the directors are contemplating a series of transactions to enhance shareholder value, led the day's risers after gaining 1c or 18.18% to 6.5c.

Innscor advanced 2c to 87.01c but is still 15.52% lower from its all-time best level of 103c while associate company Natfoods added a significant 15c to 195c, its all-time high.

Truworths was 0.03c firmer at 4.22c taking its gains this year to date to 68.8% while TSL advanced 1c to 18c amid improving comparative volumes at the tobacco auction floors this season.

Afre was 0.11c firmer at 9.31c following an upbeat presentation from group CEO Doug Hoto last week where the group recorded its first US dollar era profits. Art, currently is trading under cautionary, added a modest 0.01c to 0.46c.

Barclays was 0.11c weaker at 2.99c in the wake of its December finals where MD George Guvamatanga said the bank will continue focusing on growing and maintaining a quality loan book.

CBZ eased 0.20c ahead of its record date tor the final dividend of 0.172c this Friday while Econet slipped 0.01 c to 69.99c. The telecoms group has upcoming February finals.

Pelhams led the fellers after falling 0.02c or 20% to 0.08c while dual listed PPC was 10c weaker at 235c.

BAT is now the 6th biggest company on the ZSE by market capitalisation.

Companies registering new shares with the ZSE from share option schemes include Aico Africa (138 560), Delta (5.587 million), Edgars (400 000), OK Zimbabwe (2.698 million), and SeedCo (1.547 million). Zimplow's shares in issue have risen by another 62.25 million (to $622.7 million) following the takeover of Tractive Power.

The Datvest All Share Index was 0.47 points or 0.37% firmer at 126.45 while the FBC ZSE-10 Index added 0.68 points or 0.51% to 133.33.
- zfn