Zimbabwe: ZSE Reflects Slowing Economy

THE slow pace of economic recovery has resulted in the total value of shares traded on the Zimbabwe Stock Exchange declining to US$260 million for the eight months to August, from US$319 million during the same period last year. Figures from the ZSE show that turnover however increased by 163 percent to US$66,3 million. Foreign investors maintained an appetite for shares on the local bourse, buying US$53,6 million worth of shares last month from US$15,5 million in July.

During the period under review shares sold by foreign investors increased significantly from US$4,7 million to US$12,7 million. The sharp growth in the value of shares sold on the bourse was reflected by market capitalisation, which shot to US$5,1 billion from US$4,9 billion. Listed companies' financial results for the year to March and June have been generally negative as the economic situation in the country continues to worsen.

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