ZSE: Industrials advances to record levels

Published: 10 June 2013
ZSE's mainstream Industrials advanced to another record level at week's end to log its 6th straight rise largely spurred by gains in selected heavyweights.

The Industrials Index gained 0.54% or 1.09 points to close at 204.74 as Innscor added 1.02c or 1.11% firmer at 93.12c with its subsidiary Natfoods closing trading at its all-time high of 245cafter rising by 15c or 6.53%.

The market's protagonists Econet and Delta traded unchanged at 74.5c and 135.01c each ahead of the expected release of their February and March finals next week.

The Minings Index also closed in the green after gaining 0.87 or 1.19% to 74.13 points driven by gains in Hwange, Bindura and RioZim canceling the losses recorded in Falgold.

Hwange was amongst the top 5 risers advancing 1c or 7.14% to 15c whilst Bindura and RioZim added 3.33% and 2.17% each to close at 3.1c and 47c respectively. Falgold however led the top losers on the market after dropping 2c or 14.29% to 12c.

The top riser on the day was ZHL which added 0.19c or 18.81% to 120c while Meikles closed 13.64% higher at 25c. Pearl Properties advanced 0.21c or 7.50% to 3.01 c.

Clothing retailer Edgars recovered a marginal 0.09c or 0.74% to 12.2c while DZLH added 0.52c to 29.52c.

One of the top 5 falters. CFI eased 13.33% or 0.80c to 5.20c amid reports that the firm is set for a rebound as it emerged that a new investor, a global company called Meat Team, will partner its poultry division, Suncrest in a joint venture that will change the company's fortunes.

Bankers NMB dropped 1c or 10% to9c whilst Aico Africa closed 5.44% weaker at 8.51c on reports that the major shareholders hold divergent positions on which the strategic plan should take precedence between unbundling the group and recapitalising the entity.

Powerspeed lost 0.05c to 1.6c and cement manufacturer PPC dropped 5c or 2.13% to 230c. TSL and ZPI eased 0.50c and 0.01c each to close at 18.5c and 1.39c respectively.

ZBFH closed buyers only at 8c after confirming the retirement of group CEO Elisha Mushayakarara with effect from May 31 and the appointment of Ronald Mutandagayi as the new CEO with effect from June 1. ZBFH also announced the amendment of the final dividend record date of 0.16c to Friday May 24.

Daily market turnover dropped to $1.546 million on a volume of 9.953 million shares from yesterday's $2,837 million on a volume of 6.523 million shares. Weekly turnover improved to $5,801 million on 23.71 million shares compared with last week's $3,914 million on a volume of 14.939 million shares

The Datvest All Share Index added 0.62 points or 0.45% to 139.78 to take its gains since January to 38.55% and 60.45% year on year while the FBC ZSE-10 Index was 0.46% better at 148.86 and the blue chips measure is now 46.17% up this year to date and 77.74% in the positive on a year earfier.
- zfn
Tags: Industrials, ZSE,


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