Business / Companies
ZSE:- Industrials advances on gains in selected heavyweights
04 Apr 2013 at 07:56hrs | Views
Industrials stayed in the positive territory on Thursday sustained by gains in selected heavyweights while inactivity in the resources sector saw the Minings Index dosing unchanged.
The Industrials index advanced 1.39 or 0.76% to 185.28 largely on gains in Innscor, Hippo, Natfoods and OK Zimbabwe while the Minings index remained stable at 66.80 points with no trades in the respective mining counters.
Volumes dropped with 8.551 million worth just $546 020 passing through the market compared with 12.67 million with a value of $3,262 million that traded yesterday.
Heavyweights Innscor and Hippo added 2.02c and 5c each to close at 89.03c. and 115c respectively. Innscor's associate company Natfoods continued to scale new heights after adding another 13c to break the 200c mark at 208c. This takes Natfoods gains since January to 57.6%.
Retailer, OK Zimbabwe was a modest 0.01 c up at 18.01c after listing a significant 79 365 079 shares arising from a convertible loan facility from Investec Asset Management.
Interfresh led the top risers for the day, adding 0.06c or 30% to 0.26c, its best level in 52 weeks. Zimplow Holdings added 0.50c or 11.11% to 5c while ZBFH was 7.88% firmer at 8.63c after the group proposed a final dividend of.
Other notable top risers were Powerspeed which added 0.10c to 1.60c and Ariston up 4.35% at 1.2c.
Edgars, which remains strong after an upbeat market presentation by group MD Linda Masterson, added 0.10c for another record level of 13.5c taking its gains since January to /0%.
On the downside African Sun eased 0.30c or 18.75% to 1.30c while ZPI was 3.57% weaker at 1.35c. Fidelity Life which has a record date for its 0.3443c final dividend tomorrow dropped 0.50c or3.57% to 13.50c.
Dual listed Old Mutual dropped 2c to close at 233c.
PG Industries closed buyers only at 0.6c after CEO Hilary Munyati told an analyst briefing yesterday that group will reorganize the its structure, convert subsidiaries into divisions under a unitary structure with a single head office to align overheads to trading levels and achieve tax efficiencies.
Astra closed at 5.5c after publishing a repeat cautionary statement saying discussions are still in progress that may result in a transaction that may have a material impact on the value of the company's shares.
MedTech was buyers only at 0.01 c after releasing their financial results for the year ended December 31 2012 showing a modest growth and profitability in the Distribution business, and an increase in MedTech Medical and Scientific revenues.
BAT remained stable at 720c and CBZ was buyers and sellers only at 12.5c and 13.1c ahead of their record dates for their final dividend of 42c and 0.172c tomorrow respectively.
The Datvest All Share Index added 0.61% to 127.22 while the FBC ZSE-10 Index was 0.69% better at 13425.
The Industrials index advanced 1.39 or 0.76% to 185.28 largely on gains in Innscor, Hippo, Natfoods and OK Zimbabwe while the Minings index remained stable at 66.80 points with no trades in the respective mining counters.
Volumes dropped with 8.551 million worth just $546 020 passing through the market compared with 12.67 million with a value of $3,262 million that traded yesterday.
Heavyweights Innscor and Hippo added 2.02c and 5c each to close at 89.03c. and 115c respectively. Innscor's associate company Natfoods continued to scale new heights after adding another 13c to break the 200c mark at 208c. This takes Natfoods gains since January to 57.6%.
Retailer, OK Zimbabwe was a modest 0.01 c up at 18.01c after listing a significant 79 365 079 shares arising from a convertible loan facility from Investec Asset Management.
Interfresh led the top risers for the day, adding 0.06c or 30% to 0.26c, its best level in 52 weeks. Zimplow Holdings added 0.50c or 11.11% to 5c while ZBFH was 7.88% firmer at 8.63c after the group proposed a final dividend of.
Other notable top risers were Powerspeed which added 0.10c to 1.60c and Ariston up 4.35% at 1.2c.
On the downside African Sun eased 0.30c or 18.75% to 1.30c while ZPI was 3.57% weaker at 1.35c. Fidelity Life which has a record date for its 0.3443c final dividend tomorrow dropped 0.50c or3.57% to 13.50c.
Dual listed Old Mutual dropped 2c to close at 233c.
PG Industries closed buyers only at 0.6c after CEO Hilary Munyati told an analyst briefing yesterday that group will reorganize the its structure, convert subsidiaries into divisions under a unitary structure with a single head office to align overheads to trading levels and achieve tax efficiencies.
Astra closed at 5.5c after publishing a repeat cautionary statement saying discussions are still in progress that may result in a transaction that may have a material impact on the value of the company's shares.
MedTech was buyers only at 0.01 c after releasing their financial results for the year ended December 31 2012 showing a modest growth and profitability in the Distribution business, and an increase in MedTech Medical and Scientific revenues.
BAT remained stable at 720c and CBZ was buyers and sellers only at 12.5c and 13.1c ahead of their record dates for their final dividend of 42c and 0.172c tomorrow respectively.
The Datvest All Share Index added 0.61% to 127.22 while the FBC ZSE-10 Index was 0.69% better at 13425.
Source - zfn
