Industrials In Mixed Trades As Hwange Spur Mining

Although fallers outweighed gainers by 13 to five gains in Delta Corporation Limited (Delta), National Foods Limited and regional banking house ABC Holdings Limited mitigated the losses to see the industrial close almost unchanged. Beverages giant Delta put on +1,25 percent at 81c as 1,3 million units exchanged hands in trades worth US$1 million while Natfoods also added +1,05 percent to close at 96c.

ABC led the gainers with a +7, 69 percent (+5c) upside at 70c while Turnall Holdings Limited was +2, 14 percent firmer at 14,3c.
 Other notable trades were seen in CBZ Financial Holdings Limited which pared -2,86 percent to close at a final price of 13,6c with initial trades going through at 14c and 13,61c while a final volume 3,1 million shares exchanged hands.
Seed manufacturer, Seed Co Limited buckled under selling pressure losing -1,67 percent to close at 123,90c ahead of its Annual General Meeting (AGM) while parent group, AICO Limited eased a marginal -0,02 percent to close at 25c. Dairibord Holdings Zimbabwe Limited (DHZL) slipped -1, 89 percent to close at 26c as Meikles Africa Limited (MAL) traded -3, and 23 percent lower at 30c.
Total turnover improved to US$2, 5 million despite a decline in volumes traded at 8,986 million shares as the bulk of the trades were concentrated in CBZ, Delta and Econet Wireless Holdings Zimbabwe Limited.
Local investors dominated today’s trades accounting for 89 percent of the purchases and 77 percent of sales while foreign inflows and outflows totaled US$274 000 and US$574 000, respectively.
The ZSE’s Mining Index, on the other hand, recovered an impressive +3, 59 percent at 159.59 points buoyed by gains in Hwange Colliery Company Limited which added +1, and 82 percent at 56c outweighing Rio Zimbabwe’s -4, 21 percent loss at 91c.

There are media reports that RioZim has secured an underwriter for its rights issue though for a lesser amount than previously envisaged.