Industrials back in the red as Delta falters

Published: 25 February 2014

Delta shares faltered on Friday to drag Industrials back into the negative territory while volumes plummeted with the day's turnover dropping to below the reasonable level of $1 million.

The Industrials Index eased 0.26 points or 0.14% to 190.71 and remains 5.65% down since January.

This week to date the Industrials Index was however 0.91% up as shares see-sawed during the course of the week.

Daily market turnover dropped below the psychological S1 million value at $590 350 on a volume of 3.961 million compared with yesterday's $1,138 million on a volume of 2.997 million shares.

Weekly market turnover improved to S6.519 million on a volume of 26.21 million shares against last Friday's $5,694 million on a volume of 31.60 million shares.

Blue chip Delta eased 0.1c or 0.08% to 124.9c while other heavyweights Econet, Innscor and OK Zimbabwe traded unchanged at 63.6c, 78c respectively. OK Zimbabwe closed 19c buyers and 19.5c sellers only.

The Minings index recorded no movement this whole week as it closed stable at 33.61 points with Bindura trading unchanged at 1.3c.

Ariston led the top of the four gainers across the board, advancing 0.05c or 7.69% to 0.7c while Edgars picked up 0.25c or 2.08% to 12.25c in the wake of reports that the clothing manufacturer and retailer is set to resume garments and clothing exports to the European Union among other international markets.

Also trading in the positive was bankers CBZ added 0.01c or 0.07% to 15.11c after announcing the appointment of Richard Victor Wilde as Chairman with effect from February 20. CBZ is set to release December finals next week.

Dual listed counter Old Mutual gained a marginal 0.01c.

African Sun traded unchanged at 2.5c amid reports that the group expects to realise at least $5.9 million from the disposal of its 16.54% stake in Dawn Properties Limited.

Only 2 counters traded in the red with MedTech shedding 0.01c or 205 to 0.04c while Barclays eased 0.1c or 2.44% to 4c.

Cafca closed 23c buyers and 30c sellers only after MD Rob Webster told the AGM yesterday that the copper barter recycling deal has put the firm in a profitable situation as they expect the profit to go up 30% year-on-year.

BAT closed unchanged at 1350c ahead of its finals and analysts briefing on Monday.

The Datvest All Share Index closed the week 0.04% weaker at 128.62 while the FBC ZSE-10 Index was 0.03% in the red at 136.58.
- zfn