ZSE:- Delta, Econet snap Industrials 4-day losing streak

Published: 10 June 2013

Delta rebounded on Friday to close in the positive as Econet continued to rise after its 10 for one share split yesterday, snapping the Industrials 4-day losing streak while Minings continued to sink.

The Industrials Index added 2.12 points or 1.16% to 184.76 while the Minings Index lost 3.56 points or4.94% to 68.45 trimming down its gains since January to just 5.11%.

Total market turnover closed at $1.497 million on a volume of 6.967 million shares while on a week on week basis turnover eased to $7,954 million on 32.46 million shares compared with $8,231 million on a volume of 37.35 million shares that traded last week.

Delta recovered 2.50c to 112.5c while Econet added 1.20c to 72.2c after shareholders approved a 10 for 1 share split yesterday.

CBZ remained in favour, adding another 0.05c to 13.31c in the wake of its upbeat December financials where management said the bank had secured new lines of credit amounting to $280 million.

Barclays was a modest 0.01c firmer at 3.12c while NMB remained buyers and sellers only at 8c and 12c in the wake of its consolidation.

DZLH advanced 0.50c to another all-time high of 29.5c while Cafca was 5c better at 60c after MD Rob Webster told tie AGM last week that turnover for the 4 months to January turnover is up 14%.

Dual listed counter Old Mutual surpassed the 200c level for the first time after adding 11.01c to 201.01c.

Truworths added 0.04c to 3.7c taking is gains since January to 48% while Tumall was 1c firmer at 6c after FBC indicated has no immediate plans to dispose of its 58% stake in the company.

Zimplow recovered another 0.40c to 3.5c ahead of its finals and analysts briefing next week on the back of a profit warning statement saying profits for last year would be lower than in 2011.

BAT was little changed after dropping a modest 0.01c to 725c while Powerspeed led the 4 counters that traded lower after losing 0.30c to 1.5c.

Bindura continued to falter losing 0.40c to 2.1c after reports operations at Freda Rebecca had restarted, with 50% of production to be restored by the end of this month. The company had halted plant processing operations following the rupture of a leach tank and its collapse onto a second tank.

The Datvest All Share Index rebounded by 1.10% to 123.91 while the FBC ZSE-10 Index was 1.68 points or 1.31% firmer at 129.59.
- zfn