ZSE:- Industrials extends gains as Minings recover

Published: 10 June 2013

Industrials extended gains on Monday after gains in heavyweight counters Delta, BAT and Hippo while Minings recovered last Friday's losses on gains in RioZim.

The Industrials Index gained 0.99 or 0.53% to 186.18 points with blue chip Delta adding 1.20c or 1.04% to 116.7c. Innscor traded unchanged at 90c and telecoms firm Econet was 0.50c weaker at 68c in deals worth $389 115.

The Minings Index opened the week at 66.81 points after gaining 0.82 or 1.24%, with RioZim adding 2.10c or 4.67% to47.1c. Bindura remained stable at 2.8c.

NicozDIamond led the top risers on the market today, recording an 8.33% increase at 1.3c whilst Hippo advanced 5.49c or 4.79% to 119.99c.

Other counters to trade on the upside were Truworths and Aico Africa adding 0.25c and 0.20c each to trade at 4.5c and 6.7c respectively.

Afre was 0.24c or 2.46% firmer at 10c while cigarette manufacturer BAT gained 5c or 0.69% to 725c. DZLH added 0.50c or 1.96% to 26c after setting its AGM for Thursday May 2.

Dual listed Old Mutual was up 0.86% or 2c to 240c.

Bankers, CBZ traded in the positive adding 0.20c or 1.54% to 13.2c in transactions worth $377 533 on a volume of 2.860 million shares whilst ZBFH dropped a marginal 0.03c or 0.35% to close at 8.6c.

The top loser on the day was Interfresh which eased 0.06c or 23.08% to 0.2c. OK Zimbabwe and SeedCo dropped 0.01c and 1c each to close at 18c and 70c respectively.

Barclays traded unchanged at 2.99c following reports that Empowerment minister Saviour Kasukuwere is yet to meet Barclays Africa chief executive Kennedy Bungane over indigenisation of the bank's Zimbabwean unit.

Zimplow Holdings was 10% weaker dropping 0.50c to 4.5c after CEO Zondi Kumwenda told the AGM last Thursday that the firm will probably achieve an operating profit or at least break-even for the half year.

PPC was 5c or 2.13% lower at 230c while Lafarge was buyers and sellers only at 75c and 90c respectively in the wake of reports that the cement manufacturing concern has in the past 5 years injected about $25 million in its plant upgrading exercise, a move that has boosted operations and is expected to ease product supply.

TA Holdings was buyers and sellers only at 8c and 9c ahead of their finals and analysts briefing this afternoon.

Meanwhile, there are reports that the ZSE-listed companies may be forced to make more disclosures or republish their financial results for the just ended reporting season as the equities market regulator pushes for more reforms on the local bourse.

The Zfn board was largely on the upside with the benchmark Datvest All Share Index opening the week up 0.39% at 127.49 while the FBC ZSE-10 Index added 0.55 points or 0.41% to 134.35.

Gains in NicozDIamond and Afre helped the Insurance Index to gain 2.42 points or 2.23% at 111.11 while the Agri-Industrial Index was 1.93% better at 76.37 on gains in Aico Africa and Hippo.
- zfn