Industrials see-saws back into positive territory

Published: 07 November 2013

Heavyweight counters Delta, Econet and Innscor all managed to recover from recent losses to dose in the green on Thursday helping the Industrials to see-saw back into the positive territory.

The Industrials Index gained 1.17 or 0.56% to 210.86 buoyed by gains in heavyweight counters Econet, Delta and Innscor. These 3 blue chips were the only counters to trade in the green on the market

Telecoms giant Econet led the top risers adding 1c or 1.61 % to 63c while Delta, which is scheduled to release its interims next week, advanced 1.51c or 1.11% to 137.51c. Meanwhile, Innscor traded 0.12% firmer at 83.10c.

OK Zimbabwe closed buyers and sellers only at 24c and 25c respectively ahead of its interims and analysts briefing on November 19.

The Minings Index closed unchanged at 51.24 with no activity by the mining counters.

Daily market turnover closed at $2,356 million on a volume of 9.749 million shares up from yesterday's $1,016 million on a volume of 15.52 million shares.

RTG led the top fallers, shedding 120c or 8.40% to 1.20c while Willdale eased 5% to 0.19c. Bankers Barclays dropped 0.10c or 2.38% to 4.10c.

ABC and Old Mutual eased 1.67% and 0.43% each to 59c and 256c respectively.

Aico Africa closed sellers only at 3c in the wake of reports that the firm's shareholders will meet at the end of this month to consider a series of proposals including a $30 million rights offer and the sale of SeedCo's 25% shareholding to a French-based company, Vilmorri & Cie, by the end of next year.

SeedCo remained stable at 99c after group CE Morgan Nzwere told analysts yesterday that the Zimbabwean government paid about $4.5 million to the firm as they continue with efforts to obtain payment from related government institutions that are still yet to honour their obligations.

Star Africa closed unchanged at 1.5c amid reports that the group has signed agreements with buyers for its transport business and stake in Tongaat Hulett Botswana and is now awaiting payment

The Datvest All Share Index recovered 0.47% to 141.40 while the FBC ZSE-10 Index was 1.06 points or 0.72% up at 147.56.
- zfn