Business / Companies
ZSE shares little changed in mixed session
17 Jun 2013 at 10:38hrs | Views
Zimbabwe Stock Exchange shares closed little changed on Monday holding on to marginal gains in a mixed session as political parties try to map out the way forward with the elections.
Following the SADC EGM held in Maputo over the weekend, the parties have come up with two conflicting reports where one says the meeting upheld the July 31st date for elections while the other report says the Justice Minister was ordered to seek an extension at the Constitutional Court.
At close, the Industrials Index put on a marginal 0.05% to 219.69 while the Minings still lacking traction for a strong move back to positive territory was down 2.39% to 72.58 after Bindura's 0.2c loss to 2.7c. The mining company is due to issue a new circular to shareholders over its payment to equity structure with its workers.
Among the heavyweights, Delta lost 1c to 149c bringing down its market cap to $1.79 bln and CBZ was 0.5c lower to 14c. Old Mutual dropped 1c to 239c and Natfoods was 6c weaker at 264c. But the losses were offset by gains in Seedco, Hippo and Barclays. Hippo added 5c to 110c and Barclays was 0.1c ahead to 4.3c. The banking group has in the year to date put on 65.38%.
AfSun with upcoming March results pared 0.2c to 2c while Pearl Properties which says it would require $50 million for the Fourth St Parkade project lost a marginal 0.01c to 3.3c.
Aico shed 0.05c amid reports the group is about to sell its 49% stake to a consortium of South African investors. Unit Seedco however traded in the opposite direction, gaining 2c to 85c amid reports that it will soon trade under cautionary.
TSL put on 0.5c to 23.5c in the wake of its interims where the group reported a 50% increase in operating profit. The group also paid out an interim dividend.
Zimpapers added 0.1c to 1c, PPC put on 3c to 253c but it was Star Africa, which led the risers gaining 0.17c to 1.37c. The group is currently on a recapitalisation drive.
FBC was bid and offered at 9.5c and 10c ahead of its EGM later this month to approve a share swap deal with NSSA over its Building Society. The share swap will mean NSSA will pass the required 35% threshold by 0.13% and therefore would need to regularise it to comply.
Overall activity was subdued as turnover dropped to a lowly $360 000 from 4.77 million shares.
Following the SADC EGM held in Maputo over the weekend, the parties have come up with two conflicting reports where one says the meeting upheld the July 31st date for elections while the other report says the Justice Minister was ordered to seek an extension at the Constitutional Court.
At close, the Industrials Index put on a marginal 0.05% to 219.69 while the Minings still lacking traction for a strong move back to positive territory was down 2.39% to 72.58 after Bindura's 0.2c loss to 2.7c. The mining company is due to issue a new circular to shareholders over its payment to equity structure with its workers.
Among the heavyweights, Delta lost 1c to 149c bringing down its market cap to $1.79 bln and CBZ was 0.5c lower to 14c. Old Mutual dropped 1c to 239c and Natfoods was 6c weaker at 264c. But the losses were offset by gains in Seedco, Hippo and Barclays. Hippo added 5c to 110c and Barclays was 0.1c ahead to 4.3c. The banking group has in the year to date put on 65.38%.
AfSun with upcoming March results pared 0.2c to 2c while Pearl Properties which says it would require $50 million for the Fourth St Parkade project lost a marginal 0.01c to 3.3c.
TSL put on 0.5c to 23.5c in the wake of its interims where the group reported a 50% increase in operating profit. The group also paid out an interim dividend.
Zimpapers added 0.1c to 1c, PPC put on 3c to 253c but it was Star Africa, which led the risers gaining 0.17c to 1.37c. The group is currently on a recapitalisation drive.
FBC was bid and offered at 9.5c and 10c ahead of its EGM later this month to approve a share swap deal with NSSA over its Building Society. The share swap will mean NSSA will pass the required 35% threshold by 0.13% and therefore would need to regularise it to comply.
Overall activity was subdued as turnover dropped to a lowly $360 000 from 4.77 million shares.
Source - financial express
