ZSE activity continue to slow down

Published: 18 December 2013

Activity continues to slow down on ZSE with only one counter managing gains ahead of the 2014 National Budget to be presented by finance minister Patrick Chinamasa tomorrow.

The Industrials Index eased 0.50 or 0.25% to 199.59 as most heavyweights dosed unchanged while Minings gained a marginal 0.04 or 0.09% to 43.30 with RioZim closing 0.30% firmer at 33.i1c. Meanwhile, Bindura remained stable at 1.9c.

Blue chips Delta, Econet and OK Zimbabwe 135c, 62c and 19.1c. Conglomerate Innscor closed buyers and sellers only at 75c and 80c while Old Mutual closed sellers only at 270c after reports that the firm has embarked on an aggressive drive to increase occupancy rates at its shopping malls in Harare and Chitungwiza on the back of economic recovery.

Total turnover dropped to $1.067 million on a volume of 4.843 million shares against yesterday's $2,290 million on a volume of 24.37 million shares.

GB Holdings led the top fallers, shedding 20% to 0.08c while PG Industries dropped 0.02c or 16.67% to 0.10c. Meikles and MedTech eased 3c and 0.01c each to 20c and 0.07c respectively.

Pearl Properties closed 10% weaker at 2.70c. Bankers Barclays eased 0.05c to 4.65c and CBZ closed unchanged at 15c after reports that the firm secured a $20 million credit facility from a top European bank with the money expected to go a long way in easing the current liquidity crunch.

Cement manufacturer PPC eased 5c to 240c and Star Africa closed 8.18% weaker at 1.01c. FML recorded a marginal decrease of 0.12% to 8c.

Art closed sellers only at 0.4c ahead of their finals and analysts briefing today.

The Datvest All Share Index lost 0.33 points or 0.25% to close at 133.81 while the FBC ZSE-10 Index remained static at 139.39.

The Mining Index, the only gainer, added 0.09% at 17.27 after a marginal gain in RioZim. The index closed at a YTD lose of 33.39.

The Property Index was the biggest falter easing 3.14 points or 2.60%.

- zfn