Industrial Index slightly firmer

zimbabwe_stock_exchange2HARARE - The Zimbabwe Stock Exchange (ZSE) said the Industrial Inex opened the week slightly firmer at 160.57 points.

Seed concern, SeedCo Limited (SeedCo) topped the movers and shakers with US$1.90 to close at US$1.30 as Tobbaco Sales Limited (TSL) moved up US$0.60 to trade at US$8.50. The high flyers for the early part of this week included Hwange Colliery Company Limited (WCCL) which shot up by US$2.50, SeedCo Limited by US$1.90, Turnhall Limited to US$0.75.

TPH last week told shareholders that it would resume asbestos exports to neighbouring South Africa after there had been a ban on the product in 2008 by the Pretoria regime disrupting turnover and causing much mayhem at Turnhall. TPH is among the empire belonging to business mogul, Mutumwa Mawere, now based in South Africa.

Other movers were Livingstone Gwata’s financial concern, First Banking Corporation Limited (FBCH) which shot up by US$0.50 on the bourse. Firms that disappointed punters on the ZSE were insurance concern, Old Mutual Limited (Old Mutual) which nose-dived by US$0.04, Hippo Limited (Hippo), down by US$0.03, Pretoria Portland Cement (PPC) by US$0.01, Bindura Nickel Corporation Limited (Bindura), the mining concern, by US$0.06 and Ariston Limited (Ariston) down by US$0.04.

The ZSE said on the down side during the period under review was insurance concern, Old Mutual which lost US$0.04 to settle at US$1.63, Hippo nosed dived by US$0.03 to close at US$1.35 while PPC slipped US$0.01 to US$3.30. The ZSE said the Mining Index, on the other hand, edged up 3.98 points to close at 252.22 points.

It said this was a 1.60 percent change for the period under review. Coal producer, WCCL’s winning streak continued with a US$2.50 gain to trade at US$79.50. Falcon Gold Limited (Falgold) and Rio Zim Limited (Rio) were this week mainly unchanged, according to the bourse.

Post published in: Manufacturing

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