HARARE - The Mining Index on the Zimbabwe Stock Exchange (ZSE) was mainly flat during the early part of the week standing at 272.21 points.
Mining counters such as Bindura Nickel Corporation Limited (Bindura), Falcon Gold Limited (Falgold), coal producer Whange Colliery Company Limited (WCCL), and gold producer, Rio Zimbabwe Limited (Rio) were mainly unchanged. The ZSE said the Industrial Index, on the other hand, opened the week much firmer by 0.83 points to close at 164.75 points on the back of widespread gains. This was a 0.51 percentage change for the period.
High flyers included financial concern Interfin Financial Holdings Limited (IFS) which shot up by US$0.03, seed producer, SeedCo Limited (SeedCo), up by US$2.05, and diversified group Tobacco Associates Limited (TA) which also went up by US$0.02 for the period.
Beverage concern, the cash-rich Delta Corporation Limited (Delta) shot up by US$0.93 for the period under review after shocking customers last week after it unilaterally hiked the price of clear beer forcing guzzlers to dig deeper into their already empty pockets.
Most citizens in Zimbabwe earn an average of about US$200 monthly. Clear beer on the average now costs about US$1 and between US$2 and US$4 in top night spots in Harare. Food chain group, Innscor Corporation Limited (Innscor) shot up by US$0.09 during the first part of the week.
Counters that did not do too well included the wealthy Meikles Africa Limited (MAL) which has been doing very well lately. MAL went down by US$0.02, Radar Limited (Radar) went down by US$0.01, Zimbabwe Banking Financial Holdings Limited (ZBFH) also down by US$0.01 and finally, top banking concern, CBZ Financial Holdings Limited (CBZ) which nose-dived by US$0.02 on the bourse for the first period.
Interfin moved up by US$0.03 to trade at US$0.38, SeedCo added US$2.05 to close at US$1.38 and TA rose from US$0.02 to US$0.19. The ZSE said three counters traded in the negative territory as MAL lost US$0.02 to close at US$0.50, Radar was US$0.01 softer at US$0.25 and financial concern, ZBFH dropped US$0.11 to trade at US$0.08 for the period under review.
Post published in: Economy