ZSE industrials in modest losses

ZSE industrials in modest losses
Published: 07 February 2014
Delta was the only counter to manage gains during Friday's uninspiring trading session where only 16 counters recorded trades out of the active 62.

The Industrials Index eased 0.03 points or 0.02% to 192.51 but week on week the mainstream index is up 1.72%. The Minings Index gained 1.22 points or 3.64% 34.77 but is down 0.77% this week to date.

Daily market turnover slightly improved to $805 836 on a volume of 2.173 million shares against yesterday's $722 463 on a volume of 1.625 million shares.

Weekly market turnover for this week significantly dropped to $8,302 million on a volume of 38.40 million shares compared with last Friday's $33.49 million on a volume of 55.07 million shares.

Blue-chip Delta was the only counter to trade on the gains across the board, advancing 0.69c or 0.55% to 127c but is still 9.4% down this year to date.

Telecoms giant Econet traded unchanged at 61c amid reports that the group is in advanced talks with Lifestyle Holdings which could lead to the purchase of the entire assets of TN Medical Benefit Fund by the telecommunications giant.

Conglomerate Innscor also traded unchanged at 75c while OK Zimbabwe closed 15c buyers and 20c sellers only.

CBZ traded unchanged at 15c after its banking unit announced it will with effect from next month phase out manual cash withdrawals.

FML led the top fallers, shedding 1c or 9.52% to 9.5c while CFI eased 0.3c or 9.09% to 3c. Bankers Barclays dropped 0.1c or 2.38% to 4.1c ahead of its finals next week while Seedco eased 1c or 1.09% to 91c. Dual listed Old Mutual traded 2.1c or 0.86% weaker at 241c.

Bankers FBC closed 13c buyers only after reports that the large bank will not merge its banking division, FBC Bank, with its mortgage unit, FBC Building Society, anymore after the central bank last week extended statutory capital requirements by another 6 years.

The Zfn board was largely in the red with the Datvest All Share Index easing 0.02% to end the week at 129.73 while the heavyweight's measure, the FBC ZSE-1o Index was 0.17 points or 0.13% up at 137.03.

The Manufacturing Index was the other sector to end the week in the positive after gaining 0.92 points or 0.39% at 239.63 spurred by Delta. The Insurance Index dropped a significant 6.23 points or 5.84% to 100.43 weighed down by losses in First Mutual.
- zfn

Comments

Latest News

Latest Published Reports

Latest jobs