ZSE Industrials rebounds

ZSE Industrials rebounds
Published: 26 May 2014
ZSE Industrials rebounded on Friday largely on gains in OK Zimbabwe and Innscor while the Minings eased with Hwange leading the two fellers on the market

The Industrials Index gained 1.05 points or 0.61% to 173.59 with heavyweights OK Zimbabwe and Innscor recording gains as 4 counters traded in the green while only 2 closed lower and 15 unchanged.

Retailer giant OK Zimbabwe added 0.50c or 2.78% to 18.50c while conglomerate Innscor advanced 1.40c or 2.04% to 70c.

Blue chip Delta closed unchanged at 115c alter CE Pearson Gowero told an analyst briefing yesterday that the firm recorded a 1% decrease in revenue for the year ended 31 March 2014 as total beverage volumes remained flat due to softening demand and declining consumer spend.

Econet also remained stable at 66c after reports that Real-time mobile messaging application, WhatsApp, now accounts for at least 23% of the mobile telecoms service provider's network activity.

The Minings Index eased 0.61 or 2.13% to 27.97 with loses in coal miner Hwange which dropped 0.50c or 9.09% to 5c while Bindura and RioZim traded unchanged at 1.3c and 20c respectively.

There was a significant increase in the daily market turnover to $1.660million on a volume of 6.667million shares against yesterday's $556 998 on 1.824million shares. Week-on-week turnover decreased to $7.098million on a volume of 31.61million shares versus last week's $10.97million on 26.56million shares.

Bankers NMB led the top risers of the day, adding 1c or 33.33% to 4c while Pearl Properties gained 0.44c or 17.53% to 2.95c.

The other faller was Barclays which closed 9.09% weaker at 5c after group MD George Guvamatanga told the AGM yesterday that the group grew a quality loan book by 26% in the year to April 2014 while deposits decined by 5%.

The Zfn board was all in green except for the Mining Index which dropped 0.26 points or 2.27% to dose at 252.69.

The Datvest All Share Index rose 0.51 points or 0.42 % at 120.40 while the FBC ZSE-10 Index added 0.43 points or 0.34% to end at 125.92.
- zfn

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