ZSE shares advance as activity improves

ZSE shares advance as activity improves
Published: 29 May 2014
Activity on the ZSE improved on Thursday spurred by a special bargain in African Sun and a significant parcel trading in heavyweight Delta as the market advanced to close in the positive for the 5th straight session.

The total daily outturn improved to $2,991 million on a volume of 50.98 million shares spurred by a special bargain of 41.57 million African Sun shares pushed through at 3c by brokers Old Mutual Securities.

In normal trades African Sun traded unchanged at 2.8c and its total value traded on the day was $1.325 million including the special bargain. Delta which added 0.74c to 116.75c accounted for $1,288 million of the total value traded on the day.

The Industrials Index added 0.60 points or 0.35% to 174.06 but remains 13.88% down this year to date. The mainstream index was largely spurred by gains in 4 of the market's heavily capitalised counters BAT, Delta, Innscor and Old Mutual.

The Minings Index picked up a significant 4.50 points or 15.31 % to 33.89 after Bindura added 0.50c or 33.33% to 2c on reports that the company is targeting a 42% increase in nickel production within the next 2 years as the company intensifies efforts to restart its smelter shut down during the hyperinflation era.

BAT advanced by 45c to 1120c after MD Lovemore Manatsa told the AGM on Tuesday that the company's performance remained flat with volumes 1 % lower but expected to see an upturn in performance in the second half.

Innscor added 1.01 c to 70.01c while Old Mutual recovered 0.50c to 246.5c.

Across the board Willdale topped the risers after adding 0.03c or 42.86% to 0.1c while TA Holdings maintained its upward trajectory picking up 2.25c to 8c.

Zimplow Holdings added a significant 2.50c or 25% to 12.5c while Cafca closed 2c better at 27c. Padenga also advanced 0.20c to 8c ahead of its AGM tomorrow morning.

On the downside retail counter Truworths led the fellers after losing 1.20c or 40% to 1.8c followed by Pioneer which slid by 2c or 28.57% to 5c. DZLH dropped 1.09c to 8.21c while Ariston was 0.05c weaker at 0.85c

Mash dropped 0.10c to 2.2c after publishing March finals where its profit after tax amounted to $1.5 million against $2.2 million in prior year. Another property counter ZPI dropped 0.05c to 0.8c.

The Zfn board closed largely in the green with 7 of the 12 indices ending in the positive while only 2 closed on the red.

The benchmark Datvest All Share Index added 0.62 points or 0.52% to 120.74 while the heavyweights measure, the FBC ZSE-10 Index added 0.77 points or 0.62% to 126.14.

- zfn

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