Industrials stays positive

Published: 21 February 2014

Industrials stayed in the positive territory on Thursday as blue chips Delta and Econet extended gains while daily turnover eased from yesterday but managed to close above the psychological S1 million level.

The Industrials Index added 1.29 points or 0.68% to 190.97 while the Minings Index remained stable at 33.61 as no movements were recorded in the sector with Bindura trading unchanged at 1.3c.

Today's total turnover dropped to $1,138 million on a volume of 2.997 million shares from yesterday's S3.658 million on a volume of 7.186 million shares.

Delta spurred by reports that the group is spending close to $12 million on the expansion of its Chibuku Super plant in Chitungwiza, with annual production expected to triple to 1.8 million hectolitres, added 0.21c to 125c.

Econet was also 1.60c firmer at 63.6c and closed buyers only at 63c with no sellers on the board.

Bankers CBZ which is scheduled to release its December finals next week was also in favour after adding 0.09c to 15.1c with buyers still looking at the same price.

Barclays, which is still shining in the wake of above market expectations December finals, added 0.10c to 4.1c.

Also trading in the positive was Ariston which added 0.05c to 0.65c after an upbeat trading upbeat by the company's management at last week's AGM.

Dual listed Old Mutual added 0.49c to 242.5c while Star Africa was 0.10c better at 1c. Zimplow recovered another 0.25c to 2.4c.

Trading in the red Dawn Properties led the day's fallers after shedding 0.10c or 11.11% to 0.8c while Afdis eased 2c at 30c. Fidelity Life was 0.50c weaker at 9.5c.

SeedCo reversed yesterday's gains after losing 1c to 90c.

Shares have been added to the following companies in the wake of recent corporate actions or options exercised: Adfls (15.45 million), Bindura (8.907 million), Cottco (560.8 million), Delta (6.280 million), and SeedCo (10.3 million).

The Datvest All Share Index advanced 0.64 points or 0.50% to 128.67 while the FBC ZSE-10 Index was 0.87 points or 0.64% up at 136.62.

- zfn