3 December 2012

Zimbabwe: ZSE Industrial Index Falls

THE Zimbabwe Stock Exchange industrial index fell last Friday on losses in selected heavyweight counters while the mining index also declined on RioZim's losses. After trades, the industrial index was

down 0,88 percent or 1,34 points at 150,16, taking its positive performance this year to date to 2,95 percent.

The mining index declined 2,77 percent or 1,96 points at 68,74 after the diversified resource firm RioZim lost US5c to US55c, taking the resources index to negative performance this year to date 31,74 percent. Daily revenue increased to US$1 million on 18,14 million shares from Thursday's US$619 896 on 3,8 million shares.

Last week's outturn dropped to about US$7,18 million on 36,94 million shares from the previous week's US$9,8 million. Week on week, the industrial index was down 1,66 percent or 2,53 points while the mining index slipped 2,39 percent or 1,68 points.

Aico Africa lost a significant US4c to its year-to-date low of US8c after reporting a US$27 million loss after tax in the six months to September 30, 2012.

The loss was 446 percent higher from US$5 million recorded in the same period last year.

Revenues fell 53 percent from US$115 million in the last comparative period to US$54 million. Econet lost US5c to 485c in deals worth about US$230 942 while DZLH was US0,50c weaker at US21c.

Delta and OK Zimbabwe remained unchanged at US93c and US14,5c respectively.

NMB Bank, which recently issued a cautionary statement saying negotiations were underway and could impact on its share price, eased US0,10c to its year-to-date low of US0,5c.

Afre Corp, which published results of the US$8,631 million rights offer where 44,11 million shares of the offered 162,8 million shares were subscribed for while balance 118,7 million shares were taken up by the underwriter, gained US0,21c to US5,31c.

African Sun led the risers after advancing US0,15c to US0,95c. The hospitality group will release its financial results for the year ended September this afternoon.

Innscor rose US0,10c to US69,2c. Padenga remained buyers only at US4,5c after chief executive Mr Gary Sharp told the annual general meeting on Friday that the company will cull its targeted 42 000 Nile crocodiles in the year to June 2013.

Meikles added US0,21c to US14,21c after announcing last week that it is venturing into the lucrative mining sector but did not disclose where or what it intended to mine.

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