Business / Economy
Zimbabwe Stock Exchange weekly review
20 Sep 2011 at 10:04hrs | Views
Foreign participation improved during the week although activity was concentrated in a few counters namely Dairibord, Delta, Econet and Innscor. Foreigners were net buyers having been net sellers over the past couple of weeks.
The industrial index was largely unchanged, easing 0.09% as the large caps remained unchanged. The mining index lost 5% on heightened Indigenisation and Economic Empowerment fears after the Minister of Indigenisation and Economic Empowerment threatened to cancel Zimplats' operating license.
The headline inflation edged up to 3.5% year on year in August 2011 from 3.3% recorded in July 2011. The major culprits were increases in transport costs, alcoholic beverages and tobacco. The m-o-m inflation eased to 0.1% from 0.3% for July 2011.
We are convinced that that the ZSE is well poised to offer attractive returns for long-term investors with the current volatility presenting excellent entry points. Our recommendations include AICO, Dairibord, Delta, Econet, Innscor, OK Zimbabwe, Padenga and Seed Co.
The industrial index was largely unchanged, easing 0.09% as the large caps remained unchanged. The mining index lost 5% on heightened Indigenisation and Economic Empowerment fears after the Minister of Indigenisation and Economic Empowerment threatened to cancel Zimplats' operating license.
The headline inflation edged up to 3.5% year on year in August 2011 from 3.3% recorded in July 2011. The major culprits were increases in transport costs, alcoholic beverages and tobacco. The m-o-m inflation eased to 0.1% from 0.3% for July 2011.
We are convinced that that the ZSE is well poised to offer attractive returns for long-term investors with the current volatility presenting excellent entry points. Our recommendations include AICO, Dairibord, Delta, Econet, Innscor, OK Zimbabwe, Padenga and Seed Co.
Source - Imara Stockbrokers
