Cottco block deal buoys ZSE daily turnover

Published: 05 March 2014

A block deal of about 107 million Cottco shares worth $1.88 million booked over at 1.1c bolstered ZSE's daily turnover on Wednesday but trading across the board remained mixed with Industrials staying in the red while Minings managed gains on RioZim's recovery.

Daily market turnover jumped to $2,252 million on a volume of 110.9 million shares from yesterday's S733 048 on 33.38 million shares.

There were losses in just 5 counters compared with gains in 9 on the main board but Industrials Index lost 0.40 points or 0.21% to 189.13.

RioZim recovered 3c or 13.64c to close at 25c helping the Minings Index recover 1.16 points or 3.25% to 36.80.

Notable losses were recorded in Meikles which dropped 2c or 10.53% to 17c, DZLH 1c weaker at 13c and OK Zimbabwe which ended 0.50c lower at 18c. Innscor closed buyers at 70c and sellers at 77c, lower than the last trading price of 78c.

Mash dropped 0.21c to 2.79c while NicozDiamond was 0.05c lower at 1.3c ahead of its finals and analysts briefing this Friday.

Heavyweight counters Delta and Econet ended in modest gains after adding 0.08c and 0.11c each to 122.6c and 66.12c respectively. Hippo recovered 2c to 74c.

Old Mutual advanced 0.48c to 247.5c and looked strong with buyers still looking at the same price. The dual listed counter published December finals yesterday where a final dividend of 6.0 pence was declared.

CBZ added 0.43c to 16.01c while Star Africa gained 0.10c to 1c. ZHL recovered 0.10c or 10% to 1.1c. SeedCo remained unchanged at 90c in significant deals worth $590 693.

Truworths closed buyers and sellers only at 3.5c and 5c respectively after reporting improved sales and cash generation owing to the in-store card which was launched in October last year.

The Zfn board was largely mixed with the Datvest All Share Index easing 0.13 points or 0.10% to 128.33 while the heavyweight's measure, the FBC ZSE-10 Index added a modest 0.04 points or 0.03% to 135.75.

- zfn