Zimbabwe Stock Exchange mining index above 100 points


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The Zimbabwe Stock Exchange mining index today went over the 100 point mark for the first time in three years.

The resources index gained 7.41 percent to 107.06 points driven by Riozim which was up 11.57 percent to settle at 90 cents.

Bindura advanced 0.5 percent to settle at 4.02 cents while Hwange and FalGold remained unchanged at previous trading prices.

In the year to date the mining index has gained 83 percent.

The mainstream index advanced 4.20 percent to 381.44 points on gains recorded heavyweight counters.

Market capitalisation stood at $10.8 billion and market turnover amounted to $2.7 million.

Delta advanced 9 percent to settle at 239.87 cents.

National Foods advanced 20 percent to trade at 486 cents while cigarette manufacturer, British American Tobacco gained 7.42 percent to settle at 2 800 cents.

Old Mutual, which is trading at premium on the ZSE relative to London Stock Exchange (LSE) and Johannesburg Stock Exchange (JSE) picked up 6 percent to close at 830 cents.

Simbisa also gained 0.72 percent to settle at 70 cents. General Beltings rose 20 percent to close at 0.6 cents.

Lafarge advanced 16.67 percent to settle at 70 cents while Colcom gained 15.47 percent to trade at 71 cents.

On the losers, telecoms giant, Econet eased 0.02 percent to settle at 80.23 cents while Barclays eased 10.92 percent to trade at 7.1 cents.

Turnall Holdings and StarAfrica eased 9.72 percent and 7.17 percent to close the day at 1.3 cents and 2.2 cents respectively.

Foreigners were net sellers in the day, disposing of shares worth $489 049 compared to buys worth $20 819. – The Source

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The Insider

The Insider is a political and business bulletin about Zimbabwe, edited by Charles Rukuni. Founded in 1990, it was a printed 12-page subscription only newsletter until 2003 when Zimbabwe's hyper-inflation made it impossible to continue printing.

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