Industrials Recover As RioZim Sink Minings

Demand in Innscor saw the group close +0,80 percent firmer at 63c, Barclays added +4,56 percent to 7,11c while AICO and subsidiary group SeedCo advanced +2,08 percent and 4 percent to 24,50c and 130c, respectively.

Losses were seen in ABC Financial Holdings Limited (ABC) which shed -3,22 percent to 87,10c, Meikles Africa Limited (MAL) slipped -3,33 percent to 29c and Cafca Holdings Limited that eased -1,65 percent to 70,3c.

Activity on the ZSE improved as active counters rose to 51 of the 72 listed counters as total volume traded tripled to 20 million from 5,4 million yesterday although 50 percent of the volume was in micro cap Celsys Limited.

Turnover improved to US$1,2 million, up from US$997 122 yesterday, the bulk of which was in SeedCo, Hippo Valley Estates Limited (Hippo) and Delta Corporation Limited (Delta).

Foreign investors were net sellers in Hippo, Meikles, telecommunications giant Econet Wireless Zimbabwe Holdings Limited (Econet) and Delta with outflows amounting to US$401 000 against inflows of US$139 000.

Foreign trades have become sporadic due to heightened political fears caused by the indigenisation laws and global economic slowdown.

The ZSE’s Mining Index, on the other hand, slipped -0,47 percent to 150.56 points as Rio Zimbabwe Limited (RioZim) continues to slide further after losing -6,70 percent to an all time low of 56c.

The 25 percent gain in Falcon Gold Zimbabwe Limited (Falgold) at 6,52c and 0,75 percent advance in Bindura Nickel Corporation Limited (Bindura) at 4,03c both failed to offset the loss in RioZim.

Major coal producer but struggling Hwange Colliery Company Limited (HCCL) traded unchanged at 60c.