ZSE: Industrials slips into the red as Delta stutters

Published: 10 June 2013

Industrials slid into the red on Tuesday after Delta shares reversed last week's gains after trading 1c weaker at 142c while a significant volume in Econet lifted the daily market turnover to $2,347 million.

The Industrials Index eased 0.48 or 0.23% to 209.92 while the Minings Index remained stable at 74.42 points with Falgold and RioZim trading unchanged at 12c and 50c respectively.

Other heavyweights Econet, lnnscor and OK Zimbabwe traded unchanged at 70ct 93c and 29c respectively.

Total market turnover improved significantly to $2,347 million on a volume of 20.50 million shares against yesterday's $594 559 on 4.600 million shares.

Willdale led the top risers of the day adding 0.05c or 62.50% to 0.13c while Masimba Holdings continued to rise adding 0.50c or 7.69% to 7c, its best level in 52 weeks.

Meikles was 1.15% firmer at 25.5c as BAT advanced 10c or 122% to another all-time high of 830c and is now 130.6% up since January.

NicozDiamond traded unchanged at 1.3c ahead of its AGM tomorrow. Top faller was Interfresh shedding 0.04c or 16.67% to 0.2c.

Bankers Barclays and ZBFH which eased 0.40c and 0.10c each to trade at 3c and 9c respectively amid reports that Finance Minister Tendai Biti said government will enact laws requiring all banks to list on the ZSE to help them raise capital.

Art closed buyers and sellers only at 0.55c and 0.65c after reports that the firm expects to conclude negotiations with a new investor reportedly South Africa based First National Battery, before year end.

Trust closed buyers only at 0.4c after publishing a cautionary statement saying the company is currently engaged in discussions which if successfully concluded, may have a material effect on the price of the company's shares.

The benchmark Datvest All Share Index eased 0.39 points or 0.27% to 142.55 while the FBC ZSE-10 Index was 0.33 points or 0.22% weaker at 152.17.

The Conglomerates Index was the only sector to record gains after adding 0.08 points or 0.11% to 74.25 helped by gains in Meikles.

Losses in Barclays and ZBFH saw the Allied Bank Banking Index easing 1.64 points or 2.21% to 72.30.
- zfn