The Herald (Harare)

26 February 2013

Zimbabwe: ZSE Trade Opens Weaker

STOCKS on the Zimbabwe Stock Exchange opened weaker yesterday with the mainstream industrial index losing 0,79 points or 0,42 percent to close the week's first trading session at 185,81 points. Innscor led the losers after shedding US4,99 cents to US90 cents while its sister firm Padenga eased US0,15 cents to settle at US4,80 cents.

Innscor slid further down yesterday having lost US5,01 cents last Friday.

On the upside were BAT, which added US50 cents to US625 cents. Econet continued its appreciation, gaining US1,60 cents to trade at US676,60 cents, TA was up US0,51 cents to US10 cents and Zimplow was US0,50 cents firmer at US3 cents. CBZ advanced US0,48 cents to US12,01 cents, but could not stop the index downslide.

The mining index was flat at 80,46 points yesterday as Bindura, Falgold, Hwange and Riozim traded unchanged at Friday's levels.

The ZSE continues to be dominated by foreign investors as the tight liquidity on the local market continues to stifle local investors' capacity to buy.

According to the ZSE daily trading report for Friday, 5 299 300 shares were traded, giving a turnover of US$2 918 059. Of that foreign buyers accounted for more than three-quarters at US$2 634 377.

Foreign sellers accounted for US$1,781 million of the turnover from 1,279 million shares out of a total of 56 stocks that traded last Friday.

The top five traded stocks were Truworths, which sold 1 887 416 shares at US3,6 cents, Delta 1 371 549 at US125 cents, Zimplow 800 000 shares at US2,5 cents, Interfresh 250 000 shares at US$0,18 cents shares and Medtech 206 077 shares at US0,05 cents.

There were four foreign deal purchases in Delta, which sold 1 335 929 shares for US$1 669 911, Econet 132 759 for US$896 069, Truworths 1 887 416 for US$67 946 and Interfresh 250 shares for US$450. Foreign sales were only in respect of beverages maker Delta, which exchanged 1 246 327 shares with the sale realising US$1 557 908 while burgeoning mobile operator Econet sold 33 100 shares for US$223 425.

The movers in the last trading session for last week were BAT, which gained US25 cents to US575 cents, Econet US14,98 cents to US675 cents, Afdis pushed US2 cents to US17 cents, TA added US1,49 cents to US9,49 cents while Aico put on US0,6 cents to US8,6 cents.

The shakers were led by PPC, which lost US10 cents to US250 cents, Innscor shed US5,01 to US94,99 cents and Zimplow lost US2,8 cents to US2,5 cents after warning of a dip in full-year profits. As of Friday the ZSE's market capitalisation stood at US$4 860 647 683 with the industrial stocks accounting for US$4 751 177 535 of the value.

The four mining stocks were worth a combined US$109 470 138. Delta, Econet, Innscor, Hippo, OK, Seed Co, BAT, Old Mutual, Natfoods and DZL make up the most capitalised stocks on the ZSE and their market capitalisation stood at US$3,7 billion last Friday.

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