ZSE shares wades back into negative territory

Published: 10 June 2013

ZSE shares were back in the red on Wednesday as heavyweight counters Hippo and Innscor traded lower to snap the 5-day rising streak.

The Industrials Index dropped by 0.64 points or 0.34% to 188.38 as Hippo and Innscor eased 4.99c and 1 c each to 115c and 89c respectively. Delta and Econet traded unchanged at 122.01 c and 68c each.

The Minings Index eased a marginal 0.06 points or 0.09% to close at 65.93 as nickel-miner Bindura traded 3.57% lower at 2.7c. Falgold recovered 11.22% or 1.01c to 10.01c.

Daily market turnover tumbled to $611 742 on a volume of 8.625 million shares against yesterday's $3,456 million on 19.385 shares.

GB Holdings led the top risers advancing 0.01c or 100% to 0.02c while Pelhams was 25% firmer at 0.1c despite publishing a profit warning statement yesterday saying financial results for the year ended 31 March 2013 will be much lower than anticipated.

Clothing retailer Truworths added 0.40c or 8.70% 5c, its best level in 52 weeks taking its gains since January to 100%. At its best Truworths traded at 11.1c in July 2011.

Other top risers for the day are NicozDiamond and African Sun which added 0.10c and 0.05c each to 1.4c and 1.3c respectively.

Afre continued to rally after gaining another 0.30c to its best level in 52 weeks of 10.5c, taking its gains this year to date to 101.9%.

Aico Africa added 0.10c to 6.8c but the counter is still 24.4% in the red on a year to date basis.

Cigarette manufacturer BAT gained 5c or 0.68% to 735c whilst Zimplow Holdings added a marginal 0.02c or 0.44% to trade at 4.52c.

DZLH closed buyers and sellers only at 26c and 28c after managing director Thompson Mabika said the firm will introduce new products this year to widen its product portfolio as well as rebrand some of its current products to remain competitive on the market.

ZBFH closed buyers only at 8.6c after publishing a cautionary statement saying the company is engaged in discussions which, if successfully completed, may have a material impact on the company's business and share price.

The top faller on the market today was Willdale, dropping 66.67% or 0.10c to 0.05c while MedTech eased 0.01c or 33.33% to 0.02c.

Pearl Properties was 0.01c or 0.37% weaker at 2.69c while Ariston traded 0.05c or 4.17% lower at 1.15c and Zimpapers eased 0.10c to 0.8c.

Bankers, Barclays dropped 0.09c or 3.01% to 2.9c after reports that the group has launched state-of-the-art Automated Teller Machines that are aimed at providing its customers with enhanced security and easy transactional experience.

Meikles closed buyers and sellers only at 20c and 24c after reports that the group's subsidiary TM Supermarkets will invest $25 million on transforming its retail outlets to international standards on the back of an inspiring six-fold increase in pre-tax profits for the 11 months to February 28, 2013.

The Zfn board was largely in the red with the benchmark Datvest All Share Index losing 0.27% to 128.99 while the heavyweight's measure closed 0.33% weaker at 136.47.
- zfn

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