Delta drags Industrials lower as BAT shares hit $9

Published: 13 June 2013

Delta shares dragged the Industrials lower for the second consecutive session on Thursday largely on profit taking whie BAT shares advanced to another all-time best of $9.

The Industrials Index eased 1.98 points or 0.89% to 219.67 points as blue chip Delta closed as one of the top losers while heavyweights Econet, OK Zimbabwe and Innscor remained stable.

Delta dropped another 5c to 151c and closed sellers at the same price having reached its all-time high on Tuesday resulting in some investors offloading their shares.

BAT shares added 10.02c to another record high of 900.02c taking its gains in the year to 150% and now accounts for 3.02% of the mainstream index from 1.64% at the beginning of this year.

Innscor was unchanged at 100c but looked weak as sellers dropped their offer to 100c from 105c yesterday. Econet remained stable at 70c but accounted for the bulk of the value traded on the day.

OK Zimbabwe traded unchanged at 25.10c after CE Willard Zireva told an analyst briefing yesterday that the firm posted a 16.3% revenue growth to $479.6 million surpassing the 15% target for the year ending 31 March 2013 on the backdrop of a downward trend in demand.

The Minings Index gained 3.00 or 4.18% to 74.75 points as heavyweight Hwange rose 1c or 6.67% to 16c while one of the top 5 risers Bindura traded 020c or 7.41% higher at 2.9c.

Total market turnover dropped to $1.915 million on a volume of 6.016 million shares from yesterday's $3,861 million on a volume of 10.54 million shares.

Powerspeed led the top risers on the day after adding 0.25% or 15.63% to 1.85c. African Sun picked up 0.16c or 7.66% to 1.25c.

CFI gained 0.50c or 6.67% to 8c while NicczDiamond was 0.06c or 426% firmer at 1.47%.

RTG advanced 0.15c or 13.04% to 1.3c in the wake of reports that the firm has made significant strides towards achieving Is stated objectives for 2013 as adopted by the management team.

Aico Africa gained a marginal 0.04c or 0.55% to 7.25c while Fidelity Life rose by 0.48c or 3.99% to 12.5c.

There were only tour counters to trade on the downside led by PG Industries which eased 0.10c or 11.11% to 0.8c. TA Holdings dropped 1c or 10% to 9c.

Bankers ABC dropped 5.01 c or 8.35% to 55c amid reports that the bank had its property attached yesterday by the Harare Messenger of Court over a $11 million "debt" owed to a Belgian diamond company, Mackie Diamonds BVBA.

The Datvest All Share Index was 1.38 points or 0.92% weaker at 148.03 while the FBC ZSE-10 Index dropped another 2.24 points or 1.41 % to 156.24.

Gains in tourism counters African Sun and RTG helped the Tourism Index to gain 2.41 points or 10.64% to 25.09 trimming the sector's losses in the year to 15.85%.

Meanwhile the ZSE has terminated the listing of Gulliver, Steelnet as the paper is no longer tradable and Lifestyle Holdings after the Company applied tor voluntary delisting which was approved by the ZSE Interim Board. This leaves the number of counters listed on the ZSE at 71 with 6 of them suspended only 65 are still active.
- zfn