Industrials falter ahead of busy earnings week

Published: 17 March 2014

ZSE's Industrials faltered again in usual dull Monday trading sessions ahead of busy earnings week where at least 6 counters are so far expected to present their financials to the market.

Counters DZLH, FBCH, Padenga, Tumall and ZPI are all scheduled to make their presentations to the market inside the week.

The market has spent the better part of this year in the negative territory and no major surprises are expected from the reporting companies in line with the economic downturn in the country.

The Industrials Index dropped 0.37 points or 0.20% to 185.85 drifting 8.05% lower on January 1 level of 202.12. Minings remained unchanged at 33.16.

Daily market turnover dropped to $432 596 on a volume of 3.449 million shares from Friday's $505 200 on a volume of 3.158 million shares.

Blue chip Delta dropped 0.99c or 0.81% to 121c while its subsidiary Afdis led the top fallers on the market, shedding 1c or 3.03% to 32c.

Econet dropped a modest 0.03% to 64.97c while Innscor was 0.50c weaker at 71.5c ahead of its interim dividend record date of 0.60c this Friday.

DZLH lost 0.11c or 0.85% to 12.89c ahead of its finals and analysts briefing this Wednesday. OK Zimbabwe closed unchanged at 17c.

ZPI led the top risers on the day adding 0.10c or 11.11% to 1c ahead of its finals and analysts briefing on Wednesday while Star Africa gained 0 05c or 5.26% to 1c.

Dawn closed 4.17% firmer at 0.75c as African Sun shareholders are expected to approve the disposal of its 16.54% stake in Dawn to Lengrah Investments this Friday. African Sun closed unchanged at 2.5c

Cigarette manufacturer BAT advanced 20c or 1.67% to 1220c ahead of its final dividend of 18c record date this Friday. Zimplow Holdings added 0.43% to 2.31c while SeedCo picked 0.10c or 0.11% to 90c.

RTG closed buyers and sellers only at 1,2c and 1.6c respectively ahead of their finals and analysts briefing tomorrow morning.

The Datvest All Share Index lost another 0.23 points or 0.18% to 125.48 taking its losses in the year to 7.38% while the FBC ZSE-10 Index dropped 0.35 points or 0.26% to 132.6 and is now 6.54% down since January.

- zfn