Zimbabwe Stock Exchange reaches new high


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 4.64 percent to close at 411.25 cents.

BAT and Natfoods slightly gained 0.55 percent and 0.39 percent to settle at 1 815 cents and 381.5 cents respectively.

General Beltings was the best performer in August, after its share price increased five times to 0.55 cents.

Medtech also added 150 percent to close at 0.05 cents in the month under analysis while CFI and Dairibord gained 84.56 percent and 57.14 percent to settle at 68.75 cents and 11 cents respectively.

Zimre, Nampak and OK Zimbabwe also gained 46.99 percent, 45.45 percent and 37.75 percent to close at 6.6 cents, 8 cents and 14.05 cents in that order.

NMB and Axia added 33.33 percent and 28 percent to trade at 5.4 cents and 16 cents respectively while Colcom and Powerspeed gained 21.85 percent and 20 percent to close at 50.25 cents and 6 cents in that order.

ZB Financial Holdings, Pearl and Unifreight were also among the gainers after adding 18.18 percent, 17.65 percent and 17.12 percent to settle at 19.5 cents, 4 cents and 1.3 cents respectively.

Dawn also picked up 15.38 percent to trade at 2.1 cents while Meikles and Masimba added 13.21 percent and 13.03 percent to close at 21 cents and 5.9 cents respectively in the month under review.

Edgars, Afdis and Mashonaland also gained 12.5 percent, 11.67 percent and 7.44 percent to close at 4.5 cents, 67 cents and 2.31 cents in that order.

Only three counters ART, Willdale and Fidelity recorded losses on the local bourse, in the month under analysis, after their share prices declined by 23.64 percent, 2.44 percent and 1.82 percent to close at 4.2 cents, 0.4 cents and 13.5 cents respectively.

The 5.6 percent increase in the resource index was on the back of Riozim and Falcon after their share prices advanced 8.33 percent and 20 percent to close at 65 cents and 1.2 cent respectively.

Bindura and Hwange remained unchanged at 2.45 cents and 2.6 cents respectively.

Foreigners were net sellers in the month, with purchases of $1.17 million against sales of $2.87 million, resulting in a net outflow of $1.7 million.-The Source


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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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