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ZSE indutrial index dips

21 Oct, 2013 - 00:10 0 Views

The Herald

Business Reporter
THE Zimbabwe Stock Exchange industrial index fell on Friday after losses in heavyweight shares while the mining index was up after gains in Bindura Nickel Corporation.
After trades, the main industrial index declined 0,7 percent or 1,54 points to end the week at 213,36 points and the mining index gained 3,5 percent or 1,77 points to 51,87 points.

Daily turnover fell to US$724 367 on 18,4 million shares traded, down from US$809 062 realised on Thursday. Week-on-week, the industrial index rose by 0,3 percent and was 13 percent up on a month-on-month basis.

Delta Corp, the largest company in value terms, lost 1,76 percent to US137,5c. Last week, the company reported that revenue for the second quarter ended September 30 rose 3 percent driven by a 4 percent growth in overall beverage volumes.

It said lager beer volumes declined 12 percent compared to same period last year and soft drinks volumes increased by 4 percent during the quarter under review.

Econet fell 2,9 percent to US63c while conglomerate Innscor lost 1,1 percent to US89c. Meat processor Colcom was up 7,1 percent to US30c while Barclays advanced 4,4 percent to US4,5c.

Barclays is among foreign-owned banks that were spared from immediately complying with the indigenisation and economic empowerment law, which compels foreign-owned companies to dispose of their majority stakes to black Zimbabweans. ZPI gained 84 percent to US1,2c.

African Sun Limited gained 6,8 percent to US2,35c. There was a special bargain  of 14,15 million African Sun shares at US3c. Truworths was unchanged at US3,5c.

Retailer OK Zimbabwe was unchanged at US27c. RTG led the top fallers, shedding 13,3 percent to US1,3c while Pearl Properties lost 9,1 percent to US3c.

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