Delta, Econet deals highlight ZSE in midweek trades

Published: 07 May 2014

Delta and Econet significant deals all worth $4,328 million highlighted trades on the ZSE on Wednesday as Industrials maintained their upward trend.

There was a significant improvement in the daily market turnover at $4,353 million on a volume of 5.939 million shares with major volumes traded in Delta ($1,442 million) and Econet ($2,886 million). Yesterday's turnover was $3,093 million on 10.54 million shares.

The Industrials Index gained a marginal 0.25 or 0.14% to 177.69 but remains 12.09% in the red since January.

Econet was the only heavyweight to manage gains together with 3 others and managed to cancel out losses in OK Zimbabwe and 4 other counters that closed in the red.

Thus Econet added 0.99c or 1.50% to 67c after declaring a final dividend of 1.29c in the year to February 28 financial released on Monday. At 67c Econet is 10.07% shy of its 52-week high of 74.5c while it is also 13% down from its all-time best of 77c.

Heavyweights Delta and Innscor remained stable at 120c and 66c respectively as Innscor's associate Colcom traded 4.35% weaker. Retailer OK Zimbabwe eased 0.09c or 0.45% to 19.90c.

Mash led the top risers on the day adding 0.10c or 4.17% to 2.50c while Meikles gained 0.56% to 18.10c. Cement manufacturer PPC picked 1c or 0.50% to 202a

ZHL closed sellers only at 1c amid reports that the firm is reviewing its investment in CFI Holdings and plans to dispose of some of its non-performing and non-core assets locally and externally.

Top fallers were led by Cottco which dropped 11.11% to 0.80c while African Sun eased 0.20c or 7.41 % to 2.50c.

Brick maker Willdale closed buyers only at 0.1c after reports that the firm is targeting an immediate return to profitability after successful fund raising and restructuring exercises during a difficult period plagued by a choking cash crisis.

The Minings Index eased 0.61 points or 2.06% to 29.03 as coal miner Hwange closed amongst the top losers on the day, shedding 0.50c or 8.33% to 5.50c. Meanwhile, Bindura closed unchanged at 1.35c.

The Datvest All Share Index added 0.29 points or 0.24% to 122.11 while the FBC ZSE-10 Index advanced 0.49 points or 0.38% to 129.41.

There were 4 sectoral indices to dose in the red on the Zfn board with the Tourism Index leading the pack with a 3.56% drop to 26.31
- zfn