ZSE shares weaken further in subdued trades

Published: 24 July 2013

ZSE shares fell for the second consecutive session on Wednesday after mostly subdued trades ahead of harmonised elections next week.

There were only 26 counters to trade on the day with 5 closing in the positive while 6 were in the red and 15 unchanged from previous levels.

Volumes were pathetic with the total market turnover dropping to $494 535 on 3.588 million shares compared with yesterday's $1,452 million on a volume of 3.390 million shares.

The Industrials Index dropped 0.18 points or0.08% to227.10 while the Minings Index eased 0.94 points or 1.41% to 65.76 trimming its gains h the year to just 0.98%.

Falgold dropped 3c to 9c taking its losses in the year to 25% while Hwange lost 0.10c or 0.57% to 17.5c.

Delta remained stable at 143c after publishing a trading update for the first quarter ending June 30 saying total beverage volumes are up4% with all categories except lager beer registering growth.

Econet also traded unchanged at 66.5c after announcing the postponement of its AGM which was scheduled for Tuesday July 30 to Tuesday September 17 due to the public holiday set for July 31 where harmonised elections will be held.

Blue chips Innscor and OK Zimbabwe also closed unchanged at 115c and 28c respectively.

The top riser was Astra which added 1.50c or 33.33% to 6c after following the disposal of RBZ's stake in the group to a leading South African paint producer, Plascon.

DZLH closed 3.90% firmer at 24c. Bankers ABC and Barclays also traded in the green, adding 2% and 1.40% each to 51c and 6.5c respectively. Dawn gained 0.10c or 11.11% to 1 c.

NMB dropped 2c or 18.18% to 9c while Colcom eased 5c or 12.50% to 35c. Afdis recorded a2.78% decrease of 1c to 35c and Powers peed closed 5% weaker at 1.9c.

The Zfn board recorded gains in 3 indices while 4 dosed in the red with 5 remaining stable at previous levels.

The benchmark Datvest All Share Index eased 0.15 points or 0.10% to 151.50 while the blue chips measure, the FBC ZSE-10 Index was a modest 0.05% firmer at 157.12 largely on gains in ABC.
- zfn