ZSE indices close first quarter in red

ZSE indices close first quarter in red
Published: 09 April 2018
INVESTORS on the Zimbabwe Stock Exchange (ZSE) continued on a downward trend, with all four indices closing the first quarter of 2018 in the red.

Heavyweight counters which make up the ZSE Top 10 index were the biggest losers, having dropped 14,29 percent to close at 85,71.

Some of the stocks that make up the ZSE Top 10 index include multinational brand British American Tobacco, which closed the period as the market's biggest loser down 43,97 percent to $20.

The cigarette giant is however, still recording revenue growth, with its latest results for the year to December 2017 showing a 7,9 percent increase in revenue to $36,76 million.

Other notable fallers were telecoms company Econet, which shed 27,3 percent.

The All Share index was flat at 87.21 points. Delta added $0,0052 to close at $1,6057, Old Mutual went up by $0,0018 to end at $5,6226 while Econet rose by $0,0013 to $0,6713. Willdale gained $0,0010 to settle at $0,0060 and Edgars closed at $0,0460 following a $0,0005 increase.

Two counters lost ground; Meikles lost $0,0271 to close at $0,2729 and Innscor slipped $0,0072 to trade at $0,9628.

- All Share Index added 0.23 points (0.26 percent).
- Industrial Index gained by 0.78 points (0,27 percent).
- Top 10 Index went up by 0.33 points (0,39 percent).
- Mining Index was unchanged.
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