Foreign deals spur ZSE turnover

Published: 27 November 2013

Foreign investors trading mostly in Delta and Econet spurred ZSE daily turnover on Wednesday as Industrials waded back into the red.

There were significant deals in Delta worth $942 947 and Econet where shares worth $1,421 million traded accounting for the bulk of the total value traded.

Total market turnover improved to $2,860 million on 11.10 million shares from yesterday's $2,396 million on a volume of 5.608 million.

The total market value traded this week so far at $7,403 million has already surpassed the value traded for the whole of last week of $6,858 million.

The Industrials Index eased 0.34 points or 0.16% to 21726 while the Minings Index remained stable at yesterday's level of 47.02 as Bindura traded unchanged at 2c.

There were modest gains in Delta and Econet which picked up 0.28c and 0.01c each to 153.3c and 62.01c respectively but these were outweighed by losses in Old Mutual down 4c to 271c and SeedCo which dropped 1.10c to 90c.

Aico Africa however dosed 0.50c firmer at 6.5c while CFI added 0.15c to 3.75c.

Across the board fallers outnumbered risers by 6 to 4 with notable losses h TA Holdings 0.50c weaker at 6c and Barclays which reversed yesterday's gains to close 0.20c weaker at 4.7c.

African Sun dropped 0.10c to 2.7c as Brainworks confirmed it has increased is shareholding in African Sun to 43% from 32% following its acquisition of 42.3 million African Sun shares through a special bargain last week.

Meikles ended buyers and sellers only at 24c and 26c respectively after shareholders unanimously approved that a further 4 million unissued shares of the company be placed under the control of the directors for its indigenisation plan to be effective at an EGM this morning.

The Zfn board closed largely in the red with the Datvest All Share Index losing 0.11 points or 0.07% to 144.71 while the FBC ZSE-10 Index lost a modest 0.02% to 152.02.

There were 2 indices to close in the positive, the Agri-industrial which ended 0.10% up at 84.58 and the Manufacturing Index which gained 0.31 points or 0.11 % to 278.94.
- zfn