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Business Editor
A block deal in CBZ Holdings of 34,4 million shares boosted ZSE turnover last Friday with the wider market closing with a marginal gain. Platinum Securities pushed through the deal at 14 cents, a 2c increase from the previous price.This is the second tranche that has been pushed through the market making up the 10 percent stake previously held by Safari Quantum, the “foreign” investor which brought the shares which were bought back by treasury.

Market watchers and analysts suspect Safari Quantum to be a shelf company registered in Malaysia although it was announced as a foreign technical partner.

The buyer of the first batch is housed under Platinum Nominees. The shares traded last Friday were worth $4,8 million about 90 percent of the day’s turnover of $5,33 million.

The deal claimed a spot among the top trades by value this year.

At close, the Industrials Index recovered 0,06 percent to 199,85 buoyed by gains in Natfoods, CBZ and Barclays. Natfoods was up 25c to 275c, Colcom put on 7c to 30c after the groups reported improved earnings.

However, parent Innscor lost 2,5c to 73c after the group reported a poor bottom line which was only supported by subsidiary companies.

Innscor was the worst performer of the day with analysts estimating that the price will most likely get to 65c in the short term. Most of the money is being chewed up in operating costs for one reason or the other. Outside of National Foods, AMP, and Natpak there is nothing else in terms of performance.

Delta lost 0,01c to 132,99c and Econet dropped 2c to 83c on profit taking though volume was healthy at $289 347. OK was 0,5c lower to 17,5c.

Other second tier fallers include Nicoz Diamond, which added 0,05c to 1,5c and Meikles which went down 0,5c to 16,5c as debate over the group’s change of its debt to $90 million from $40millon continues.

Among the risers, Colcom was in front, while Hwange and Fidelity were the other second tier risers after gaining 0,5c and 0,1c to 8,5c and 8,6c respectively. The gain in Hwange saw the Mining Index close with a 0,67 percent gain to 103,45.