ZSE:- Minings jump 6.45% on upbeat Falgold

Published: 10 June 2013

Falgold share price jumped 5.99c or 59.84% to 16c after reporting positive gold output figures for the quarter ending March 2013 at its gold mines to help the Minings rise a significant 6.45% to 71.50 while Industrials opened the week in the red on losses in ABC and Old Mutual.

The Minings Index at 71.50 is now 9.8% up on a year to date basis from last Friday's 3.15%. Other resources counters Bindura and RioZim dosed unchanged at 2.8c and 45c respectively.

The Industrials Index dropped a marginal 0.11 points or 0.06% to 188.52 weighed sown by losses in ABC and Old Mutual which dropped 2c and 5c to 51c and 225c respectively.

Blue chip Econet traded unchanged at 64c after reports that the firm is on course to increase its subscribers to 10 million.

Other heavyweights Delta and OK Zimbabwe traded on the upside adding 0.02c and 020c each to 125.02c and 18.2c respectively.

Turnover opened the week below the psychological $1 million level at $689 079 on a volume of 2.019 million shares against $1.562 million on a volume of 3.998 million shares that traded last week on Friday.

The top riser on the day was MedTech which added 150% or 0.03c to 0.05c. Art advanced 0.05c or 8.33% to 0.65c while NTS traded 4.76% firmer at 2.2c.

Other risers on the market were Star Africa, which is trading under cautionary, and FBC up 2.34% and 2.56% each to close at 1.75c and 8c respectively.

Ariston dropped 0.03c or 2.54% to 1.15c while bankers CBZ traded 1.46% weaker at 13.5c ahead of the group's AGM next week.

The Datvest All Share Index was however a modest 0.05% up at 128.53 as the number of risers outnumbered fellers by 8 to 4 while the FBC ZSE-10 Index dropped 0.15 points or 0.12% to 134.43.
- zfn