Positive growth for equities

zimbabwe_stockexchangeBULAWAYO - Investors on the equities market continue to benefit in real terms as returns have remained higher than the rate of inflation. In a statement to investors, Old Mutual Unit Trust Marketing Manager, Neil Nativel, said following two months of negative growth, the equities market recorded positive growth for the month of September 2009.

Unlike the previous month, most banks are now interested in long term paper and in some cases not accepting short term investments of 30days or less, Nativel said.

He said following two months of unconvincing trade on the Zimbabwe Stock Exchange (ZSE) the market rebounded in September pushing the OMUT up seven percent for the month.

Nativel indicated that as at 29 September 2009, the industrial index had gained 11.4 percent to 158.79 points while the mining index gained 7.2 percent to 203.71 points.

The ZSE capitalisation closed at $3,79 billion in September.

He said September was also a month of the huge awakening for the money market funds. Nativel said investors should look forward to the budget announcement in November.

We continue urging investors to have a long-term view and take advantage of the current prices. Like all Zimbabweans, we look forward to the impending rain season with hope for good rains. We pray the El Nino phenomenon does not come to pass, he said.

Post published in: Mining

Leave a Reply

Your email address will not be published. Required fields are marked *