Delta drags Industrials further down amid renewed interest in selected blue chips

Published: 10 June 2013

A 4% loss in Delta dragged the Industrials further down on Tuesday despite renewed interest in selected heavyweights.

The Industrials Index lost 0.44 points or 0.24% to 185.37 while the Minings Index was 0.89 points or 1.11% down at 79.57 as Bindura eased 0.10c to 2.8c.

Volumes remained subdued with a total of 2.319 million shares worth $467 281 trading on the day compared with 1.138 million shares worth $484 265 that traded yesterday.

Delta was 5c or 4% weaker at 120c in trades worth just about $20 000 resulting in its market cap dropping to $1.443 bin from $1,503 bin yesterday.

There was renewed interest in Innscor which recovered 2c to92c while associate company Natfoods added 0.90c to 143c, Is all-time high.

Econet remained buoyant, rising by 13.43c to 690.03c but volumes were thin as investors held on to their shares ahead of the EGM to approve 10 for 1 share split on Thursday. Econet has now done 53.3% since January 1.

OK Zimbabwe was another favourite on the day as it gained 0.91c to surpass the 20c mark to close at 20.01c.

Trust which is currently trading under cautionary, led the day's risers after adding 0.14c or 30.46% to 0.6c taking its gains this year to date to 200%.

Bankers Barclays, which is under pressure from authorities to comply with the indigenisatbn laws, added 0.03c to 3.03c.

Other notable risers were Lafarge and Meikles which added 3c and 1c each to 73c and 24c respectively. Zimplow recovered another 0.10c to 3.1 c after issuing a profit warning statement last week.

Lifestyle Holdings, which holds its Scheme of Arrangement EGM next month, led the fallers after losing 0.10c or 25% to 0.3c, its lowest level in 52 weeks.

RTG eased 0.20c to 1.3c in the wake of media reports that the group plans to spend at least $2.5 million towards the refurbishment of its hotels portfolio ahead of the UNWTO General Assembly in Victoria Falls later this year.

CBZ remained stable at 12.01c as it becomes the first company to report on the December finals later this afternoon.

The benchmark Datvest All Share Index lost 0.25% to 124.31 while the FBC ZSE-10 Index was 0.40% weaker at 130.21.

The Truworths Retail Index added 10.05 points or 3.83% to 272.23 largely on gains in OK Zimbabwe. The Conglomerates Index was also up 2.02% at 72.28.
- zfn