ZSE shares recover in midweek trades

Published: 30 October 2013

ZSE shares waded back into the positive territory on Wednesday buoyed by gains in 3 of the market's 10 heavily capitalised counters.

The Industrials Index gained 0.11 or 0.05% to 209.13 with gains in heavyweights Delta, Innscor and BAT.

Heavyweights to recover on the day were BAT, which added 99c to 1199c, Delta's modest 0.01 c at 135.01c and Innscor which recovered 0.10c to 82.1c with its associate Colcom dosing amongst top 5 risers adding 1c or 3.70% to 28c.

Meanwhile, Econet closed unchanged at 60c after CEO Douglas Mboweni told an analyst briefing yesterday that the firm will continue focusing on EcoCash and data to drive revenue growth. OK Zimbabwe also remained stable at 26c.

There were just 2 counters to trade in the red out of the 24 that traded while 10 managed gains and the rest remained stable at previous positions.

The Minings Index also gained 0.81 or 1.71% to48.29 as Bindura traded unchanged at 2c while Falgold's bid improved to 5c from 4c.

Daily market turnover dropped to $970 868 on a volume of 7.350 million shares from $1.202 million on a volume of 18.73 million shares.

Star Africa led the top gainers on the market adding 0.25c or 16.13% to 1.8c while Turnall advanced 11.11% to 5a Padenga closed 5.88% firmerat9c.

Other counters to trade in the green were African Sun and CFI which gained 2.18% and 0.28% each to 2.81c and 3.61c respectively.

PPC advanced 0.01c to 247.01c. Meanwhile Seedco remained stable at 99c as shareholders approved the raising of funds to retire at least 17% of its debt from the sale of part of its stake to US seed firm Vilmorin and Cie.

Only two counters closed on the downside, RTG and DZLH easing 13.33% and 2.58% each to 1.3c and 18.51c respectively.

Meikles closed unchanged at 27c after reports that the group has experienced increased occupancy following the completion of a $8.5 million refurbishment.

The Datvest All Share Index recovered 0.57 points or 0.41% to 140.23 while the FBC ZSE-10 Index was 0.68 points or 0.47% firmer at 145.44.

The Tourism Index was the only sector to close in the red after losing 1.89 points or 6.37% to close at 27.81 as losses in RTG outweighed gains in African Sun.
- zfn