Business / Companies
ZSE Market Report:- Shares extend rally led by heavyweights
10 Jan 2013 at 10:04hrs | Views
Heavyweight counters continued to rally on Thursday driven by growing foreign investor's interest in the ZSE's heavily capitalised counters.
The Industrials Index recorded their biggest one-session rise so liar this year after gaining 2.46 points or 1.60% to 156.41 while the Minings Index jumped 2.40 points or 3.62% to 68.69 after solid gains in all but one counter in the sector.
Volumes improved with 4.265 million shares with a value of $1.395 million trading up from $734 837 on a volume of 3.296 million shares that traded yesterday.
Delta gained 3c to 105c, a new all time high, on a volume of shares worth $988 778 while Econet advanced 5.98c to 466c. Innscor was 1.49c firmer at 75.99c taking its market cap to $410.4 million which is over the Zfn target value of $400 million.
Meikles was 0.50c firmer at 16c after unconfirmed reports said the group had entered into a joint venture with the Zimbabwe Mining Development Corporation to mine diamonds in Marange.
Retailer OK Zimbabwe advanced 0.50c to its all-time high price of 15.5c while Aico Africa added a modest 0.03c to 9.03c.
Bankers were mixed with ABC losing 5c to 45c whilst Barclays, NMB and Trust gained 0.30c, 0.01c and 0.10c each to 3.1c, 0.66c and 0.3c respectively as negotiations continue between the bankers and the regulators on the need to cut lending rates and bank charges.
FBC was also 0.51c weaker at 6.49c after reports the group is waiting for the approval of its bid to acquire RBZ's subsidiary Homelink from the central bank. ZBFH eased 1c to 8c.
Mining counters were all but one in the positive with Bindura adding 0.10c to 1.5c while Hwange picked up 1c to 18c after reports it had terminated a 5-year contract mining deal with Billy Rautenbach's Clidder Minerals. RioZim was 3c firmer at 58c in deals worth $141 114.
Dual listed PPC retreated 2.01c to 208c while Apex led the fallers after dropping 0.02c to 0.01c its lowest level since dollarisation. Art, which is currently trading under cautionary, also lost 0.20c or 40% to 0.3c.
Zimplow was 0.20c weaker at 5.6c ahead of EGM to approve the acquisition of balance of Tractive Power's shareholding, next week. Tractive was 1.50c firmer at 9.5c.
The heavyweight's measure, the FBC ZSE-10 Index remained in the positive closing 1.45% firmer at 105.20 while the benchmark Datvest All Share Index closed 1.32% up at 103.01.
The Industrials Index recorded their biggest one-session rise so liar this year after gaining 2.46 points or 1.60% to 156.41 while the Minings Index jumped 2.40 points or 3.62% to 68.69 after solid gains in all but one counter in the sector.
Volumes improved with 4.265 million shares with a value of $1.395 million trading up from $734 837 on a volume of 3.296 million shares that traded yesterday.
Delta gained 3c to 105c, a new all time high, on a volume of shares worth $988 778 while Econet advanced 5.98c to 466c. Innscor was 1.49c firmer at 75.99c taking its market cap to $410.4 million which is over the Zfn target value of $400 million.
Meikles was 0.50c firmer at 16c after unconfirmed reports said the group had entered into a joint venture with the Zimbabwe Mining Development Corporation to mine diamonds in Marange.
Retailer OK Zimbabwe advanced 0.50c to its all-time high price of 15.5c while Aico Africa added a modest 0.03c to 9.03c.
FBC was also 0.51c weaker at 6.49c after reports the group is waiting for the approval of its bid to acquire RBZ's subsidiary Homelink from the central bank. ZBFH eased 1c to 8c.
Mining counters were all but one in the positive with Bindura adding 0.10c to 1.5c while Hwange picked up 1c to 18c after reports it had terminated a 5-year contract mining deal with Billy Rautenbach's Clidder Minerals. RioZim was 3c firmer at 58c in deals worth $141 114.
Dual listed PPC retreated 2.01c to 208c while Apex led the fallers after dropping 0.02c to 0.01c its lowest level since dollarisation. Art, which is currently trading under cautionary, also lost 0.20c or 40% to 0.3c.
Zimplow was 0.20c weaker at 5.6c ahead of EGM to approve the acquisition of balance of Tractive Power's shareholding, next week. Tractive was 1.50c firmer at 9.5c.
The heavyweight's measure, the FBC ZSE-10 Index remained in the positive closing 1.45% firmer at 105.20 while the benchmark Datvest All Share Index closed 1.32% up at 103.01.
Source - zfn
