Business / Companies
ZSE Market Report:- Shares continue to rise on renewed interest in blue chips
08 Jan 2013 at 11:04hrs | Views
ZSE shares continued to rise on Tuesday amid renewed foreign interest on the market's heavily capitalised counters.
The Industrials Index added 0.19 points or 0.12% to 15229 while the Minings Index advanced 0.89 points or 1.34% to 67.51 as Bindura was bid higher at 1.5c.
Total transaction value improved to almost a $1 million at $925 601 from a volume of 941 687 compared with just $194 610 on 731 216 shares that traded yesterday.
Blue chips Delta shares added 0.15c to an all-time high of 100.15c on a significant volume worth $678 609 while Econet was also 10c up at 455c in deals worth $136 596.
Retailer OK Zimbabwe added 0.09c to 142c while dual listed Old Mutual closed 3c firmer at 158c. Meikles advanced 0.39c to 15.5c.
TN Bank added 0.50c to 15.5c after announcing the offer by Econet to acquire 76 204 093 TN Bank shares for 1 Econet share for every 28.79 TN Bank shares or a cash alternate of 15.91c for every one TN Bank share. TN Bank also announced the cancellation of the EGM seeking shareholder approval to delist scheduled for January 18 without giving reasons.
Bankers ABC eased 5c to 50c amid reports that lending rates are likely to fall to 15% as negotiations between banks and the RBZ to curb lending rates near conclusion. CBZ was however 0.20c up at 10c. The Banking Index on the Zfh board was however 2.72% lower at 77.10.
Cable manufacturer Cafca shares continued to rise for the second successive day adding another 3c to 48c. Clothing retailer Edgars led the risers after adding 1c to 9c.
SeedCo retreated 3c to 77c while Hunyani led the fellers on the day after losing 1.20c to its 52-week low of 2.5c.
Tractive dropped another 1.50c to 8c ahead of Zimplow's EGM to approve acquisition of balance of Tractive Power's shareholding next week Tuesday
On the Zfh board the benchmark Datvest All Share Index closed a modest 0.09% up at 101.02 while the FBC ZSE-10 Index was 0.12% firmer at 102.34.
ZHL lost 0.10c to 1 c to drag the Insurance Index 2% down at 79.46 while gains in Edgars and OK Zimbabwe propelled the Retail Index to gain 2.09% to 194.65.
The Industrials Index added 0.19 points or 0.12% to 15229 while the Minings Index advanced 0.89 points or 1.34% to 67.51 as Bindura was bid higher at 1.5c.
Total transaction value improved to almost a $1 million at $925 601 from a volume of 941 687 compared with just $194 610 on 731 216 shares that traded yesterday.
Blue chips Delta shares added 0.15c to an all-time high of 100.15c on a significant volume worth $678 609 while Econet was also 10c up at 455c in deals worth $136 596.
Retailer OK Zimbabwe added 0.09c to 142c while dual listed Old Mutual closed 3c firmer at 158c. Meikles advanced 0.39c to 15.5c.
TN Bank added 0.50c to 15.5c after announcing the offer by Econet to acquire 76 204 093 TN Bank shares for 1 Econet share for every 28.79 TN Bank shares or a cash alternate of 15.91c for every one TN Bank share. TN Bank also announced the cancellation of the EGM seeking shareholder approval to delist scheduled for January 18 without giving reasons.
Bankers ABC eased 5c to 50c amid reports that lending rates are likely to fall to 15% as negotiations between banks and the RBZ to curb lending rates near conclusion. CBZ was however 0.20c up at 10c. The Banking Index on the Zfh board was however 2.72% lower at 77.10.
Cable manufacturer Cafca shares continued to rise for the second successive day adding another 3c to 48c. Clothing retailer Edgars led the risers after adding 1c to 9c.
SeedCo retreated 3c to 77c while Hunyani led the fellers on the day after losing 1.20c to its 52-week low of 2.5c.
Tractive dropped another 1.50c to 8c ahead of Zimplow's EGM to approve acquisition of balance of Tractive Power's shareholding next week Tuesday
On the Zfh board the benchmark Datvest All Share Index closed a modest 0.09% up at 101.02 while the FBC ZSE-10 Index was 0.12% firmer at 102.34.
ZHL lost 0.10c to 1 c to drag the Insurance Index 2% down at 79.46 while gains in Edgars and OK Zimbabwe propelled the Retail Index to gain 2.09% to 194.65.
Source - zfn
