Published by the government of Zimbabwe
7 May 2008
Harare — Profit takers brought down the stock market yesterday as money market rates firmed significantly following the hike in accommodation rates last week.
At the close of trades yesterday, the industrial index lost 9,43 percent to 115 437 357 122,80 points and the mining index fell 19,47 percent to fall below 100 billion points at 95 591 783 759,94 points. Bindura led the fallers with a $150 million loss to $300 million
KMAL fell $160 million to $790 million after the Reserve Bank of Zimbabwe granted full fungibility status to all Kingdom Meikles Africa shares registered on the London register and listed on the London Stock Exchange. Old Mutual lost $150 million to $500 million as the exchange rates on both interbank and parallel rates moved towards a single rate. Barclays was steady at $42 million but CBZ lost $5 million to $35 million. FBC shed $1 million to $15 million while CFX gained $80 000 to $480 000. Innscor was $30 million down to $150 million after confirming reports that the group will open a Spar branch along Nelson Mandela Ave where TM Supermarket used to be.
Econet dropped $50 million ahead to $800 million. The telecomms company has teamed up with Infolink to introduce an information searching database panel, which is capable to search and deliver various options via mobile phone SMS request. Econet, NetOne and Telecel subscribers are able to search for the information through sending an SMS to 091 2 000 000. Delta lost $11 million to $180 million while subsidiary Ariston led the risers after gaining $6 million to $15 million. Zimsun gained $2,5 million to $28,5 million ahead of its name change to African Sun today.
Cairns was down $1,5 million to $8,5 million. The group said its volumes for March are a third behind last year reflecting no major change to the volumes reported at half year. Volumes in the six months to February had declined 38 percent. Tractive was $500 000 down to $4,5 million while Astra rose $1 million to $11 million.
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