Zimbabwe Stock Exchange hits new high in May

StarAfrica and Zimre added 20 percent apiece in the month while OK Zimbabwe and Dairibord gained 14.75 percent and 12.4 percent respectively.

Truworths, Axia and CFI were also among the gainers after adding 11.11 percent, 10.96 percent and 10.2 percent in that order.

Losses were recorded by Rainbow and Hwange Colliery who eased 25.83 percent and 18.97 percent to settle at 0.89 cents and 2.35 cents respectively.

ART and Larfage also lost 15.38 percent and 10.73 percent while ZPI and Turnall shed 7.14 percent and 5.7 percent respectively.

Banking counters, Barclays and CBZ lost 5.56 percent and 4.22 percent respectively while Hippo eased 2.17 percent to close at 45 cents in the month.

The five percent surge in the resource index was largely on the back of RioZim which gained 10 percent to close at 55 cents, offsetting the loss recorded by Hwange.

Bindura and Falcon remained unchanged at 3 cents and 1 cent respectively.

Foreigners remained net sellers throughout the month, disposing of shares worth $9.3 million and buying shares worth $4.03 million. –The Source

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