ZSE shares falter after Easter holidays

Published: 10 June 2013

ZSE shares faltered after Easter holidays in mixed trades across the board as most heavily capitalised counters remained unchanged from previous levels.

The volume of shares traded on the market today dropped to just 2.173 million with a value of $669 151 from 7.122 million worth $1.402 million that traded last Thursday.

The Industrials Index dropped 0.51 or 0.28% to close at 183.37 points as blue chip Delta traded unchanged at 115c in transactions worth $180 453. Econet also remained unchanged at 70c, with 331 394 shares worth $231 976 trading. Blue chip Innscor managed to record a modest increase of 0.01 % at 85.01 c.

Minings Index eased 0.03% or 0.02 to 66.21 points as Hwange went down by 0.08% at 12c after reports that the mining company concluded mining equipment supply facilities worth $32 million as the firm seeks to boost output

RioZim remained stable at 45c after reports that the company lost a staggering 54.5 million due to disruptions at its Masvingo-based Renco gold mine.

BAT traded unchanged at 720c after trustees of the British American Tobacco Zimbabwe Tobacco Empowerment Trust on Thursday notarised the deed of trust formalising the operations of the empowerment vehicle that will benefit thousands of tobacco growers, particularly women and the youth.

Hunyani led the top risers for the day advancing 25% or 0.60c to 3c while Star Africa was 11.76% firmer at 1.90c.

Other counters trading on the upside were Masimba and CFI up 5.20% and 2.50% each to 2.63c and 4.10c respectively.

The top faller for the day was Zimplow Holdings which dropped 0.50c or 10% to dose at 4.50c. TSL eased 5.56% or 1c at 17c. Meikles was 4.76c weaker at 20c while NTS dropped 4.35% or 0.10c to 2.20c.

Bankers, FBC was amongst the top losers for the day, recording a 2.50% decrease at 7.80c. NMB remained stable at 8c after group CEO James Mushore told an analyst briefing on Thursday that the bank will be focusing on attaining the $50 million capital threshold as its medium term target

Barclays was buyers and sellers only at 2.5c and 3.1c respectively after projecting a 5% loss of income due to reforms imposed by the Finance ministry and the RBZ recently. MD George Guvamatanga told an analyst briefing on Thursday last week that the bank will continue focusing on growing and maintaining a quality loan book.

ZBFH was buyers only at 8c after flagging the group's plans to merge its 2 units, ZB Bank and ZB Building Society before the end of the year as part of a consolidation strategy on the back of a steady growth trend with total assets having increased by 20% during the F12.

RTG was bid 1.3c and offered 2c after announcing its plans to increase its revenue per available room to $44 by year end from the $35 re corded at the end of 2012.

PG Industries closed buyers only at 0.6c ahead of its finals and analysts briefing tomorrow.

The Datvest All Share Index eased 0.32 points or 025% to 125.98 while the heavyweight's measure, the FBC ZSE-10 Index was a modest 0.07% weaker at 132.65 after giving in to losses in Old Mutual, which lost 5c to 235c.

Meanwhile Mast Stockbrokers returned to the trading floor today following the lifting of its suspension by the Securities Commission of Zimbabwe. Mast was suspended from conducting trades on the ZSE on November 12 last year.
- zfn

Tags: ZSE,