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BizDay Zimbabwe

Zimbabwe stocks slide

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THE Zimbabwe Stock Exchange continues to trade in the red with the industrial index reported to have lost 0,42% yesterday
from last Friday, while the mining index remained flat at 33,61 points due to the dominance of sellers on the market as compared to buyers.

The industrial index closed the market yesterday at 188,20 points with two counters Delta and CBZ having traded in the positive.
Delta traded at 124 cents after gaining 0,99 cents, CBZ traded at 15,01 cents, after gaining 0,01 cent, while Cafca, FML, Old Mutual and ZPI traded in the negative.

According to Afrasia Kingdom, the equities market continued to trade under pressure as recorded by both indices last week.
“The industrial index shed 1,8% to 188,99 points while the mining index dropped 3,3% to 33,61 points. Turnover also dropped 31% to $5,69 million for the week.

“Weak earnings expectations are driving the market lower,” read the weekly report.

Pioneer moved 67% up to 5 cents to lead the gainers while Dairibord followed with a 20,8% gain to 14,5 cents last week.

The weekly report showed that ZHL, Hwange and TA completed the top five movers for the week.

Furniture retailer Pelhams shed 80% to 0,01 cents as investors remain pessimistic on its fortunes while Aico dropped 75% to
0,5 cents as its partial unbundling from SeedCo has reduced its market appeal.

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