ZSE's Industrial Index adds, Mining flops

THE Zimbabwe Stock Exchange (ZSE)'s Industrial Index added 0.29 points to close at 163.13 points for the day under review.

This amounted to a 0,18 percentage change.

Counters that did very well durng this period were telecommunications giant Econet Wireless Zimbabwe Limited (Econet) which led the movers with a 7,01c rise to close at 475,01c and "hard booze producer' African distillers Holdings Limited (Afdis) which stood at 3c slod to close at 15c.

Other counters that won the gold medal included Hippo Valley Limited (Hippo) up by 10c to close at 130c, cement producer Lafarge Limited (Lafarge) up by 5c to sloe at 80c, financial concern the Botswana-based African Banking Corporation Holdings Limited (ABCH) up by 2c to close at 60c, Zimplow Limited also up by 1,12c to end the day at 9,12c, and finally insurance firm Fidelity Limited (Fidelity) which held its Annual General Meeting (AGM) in Harare.

Fidelity rose 1c to close the day at 12,5c.

Counters that won the wooden spoon on the ZSE included tobacco producer and processor BAT Zimbabwe Holdings Limited (BAT) down by 11c to close at 159c, coal producer Whange Colliery Company Limited (WCCL) down by 1c to close at 56c, the wealthy Meikles Africa Limited (MAL) down by 1c to end at 34c,

major insurer the South African-based Old Mutual Limited (Old Mutual) also down by 1c to 34c, and finally major food producer and processor Innscor Corporation Limited (Innscor) also down by 1c to end the day at 63c.

Innscor is sprucing up its facilities countrywide especially in the capital city, Harare, as gears for major competition in the food industry which is cash-rich.

Many customers are now buying take-away food stuffs especially during lunch hour.

The ZSE's Mining Index, on the other hand, lost 7.59 points to close at 175.28 points for the day.

This representated a 4,15 percentage chage for the day.

This was because top mining firm rio Zimbabwe Limited (RioZim) traded 5,02c lower at 139,98c and coal producer Whange Colliery Company Limited (WCCL) dipped 3c to close at 57c.

Bindura Nickel Corporation Limited (Bindura) and Falcon Gold Limited (Falgold) remained mainly unchanged.

Mining firms have given the Minister of Indigenisation and Economic Empowerment, Savior Kasukuwere, their recommendations for the 51 percent shareholding that locals must have in their empires.

More than 170 of them have already done so with all the ZSE-listed concerns jostling to be cleared by Minister Kasukuwere.

Post published in: Business

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