Zimbabwe Stock Exchange hits four-year high in July


The Zimbabwe Stock Exchange  industrial index advanced 3.71 percent in July to 203.25  points, its highest for over three and half years, driven by the gains in most heavyweights.

The mining index eased 0.5 percent to close at 69.79 points.

In the year to date, both the mainstream and resource indices increased by 40.63 percent and 18.68 percent respectively.

Market capitalisation rose by 1.12 percent, from $5.7 billion in the previous month to $5.76 billion, the highest since July 2013 when it clocked $6 billion.

Year-on-year, the market capitalisation has improved by 111.6 percent.

Total market turnover dropped 37.78 percent to $24.7 million from $39.7 million recorded in the previous month.

The largest company by market capitalisation, Delta slightly advanced 0.2 percent in the month to close at 127.25 cents while the telecoms giant, Econet gained 13.06 percent to settle at 40 cents.

Simbisa and Hippo advanced 25 percent and 15.6 percent to close the month at 25 cents and 87 cents respectively.

Padenga and Innscor also added 3.14 percent and 1.04 percent to trade at 27.9 cents and 72.75  cents respectively.

Old Mutual, which is trading at a premium compared to its price on the Johannesburg Stock Exchange (JSE) and the London Stock Exchange (LSE), advanced 1.55 percent to close at 393 cents.

BAT also gained 0.28 percent in the month to settle at 1 805 cents.

National Foods remained unchanged at 380 cents.

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Charles Rukuni
The Insider is a political and business bulletin about Zimbabwe, edited by Charles Rukuni. Founded in 1990, it was a printed 12-page subscription only newsletter until 2003 when Zimbabwe's hyper-inflation made it impossible to continue printing.


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