ZSE's Industrials opens week subdued

Published: 10 February 2014

Trading on the ZSE remained subdued on Monday with just one counter managing modest gains while 2 ended in the red out of the 18 that recorded pathetic trades.

The Industrials Index eased 0.30 points or 0.16% to 192.23 after a gloomy trading session with only 18 counters recording trades, one in the green, two on the downside and the rest unchanged.

CBZ was the only counter to record gains, advancing a modest 0.01c or 0.07% to 15.01c after reports that the firm is finalising discussions with stakeholders to extend the tenure of its off-shore bond which expires in April this year.

Blue chips Delta. Econet and Innscor remained stable at 127c, 61c and 75c respectively while OK Zimbabwe closed as the top loser, dropping 0.90c or 4.95% to 19c.

The Minings Index closed unchanged at 34.77 with no activity by the mining counters.

Daily market turnover decreased to $438 609 on a volume of 3.012 million shares against Friday s $805 836 on a volume of 2.173 million shares.

The other faller on the market was bankers Barclays which dropped 0.09c or 2.20% to 4.01c ahead of its finals and analysts briefing tomorrow.

Star Africa closed buyers only at 0.8c amid reports that the firm, which is saddled with a debt estimated to be $20 million, has missed its payment deadline to creditors as the group's assets that were put on sale to offset the arrears are yet to find takers.

There were no risers on the Zfn board with the Datvest All Share Index dropping 0.31 points or 0.24% to 129.42 while the FBC ZSE-10 Index was 0.37 points or 0.27% weaker at 136.66.

The Truworths Retail Index packed in to losses in OK Zimbabwe to close 11.12 points or 4.06% lower at 262.36.
- zfn