Equities market open fourth quarter in the red

Shares on the Zimbabwe Stock Exchange continued trending southwards into the fourth quarter as the Industrial Index lost -0,24 percent to 155.45 points and the Mining Index eased -2,96 percent to 147.91 points.

The lack of firm appetite for stocks has seen trading remaining thin across the board with volume traded subdued at 5,6 million shares while turnover declined below the $1 million mark to $897 863.

Active counters were down to 34 out of the listed 76 counters, seven traded in the positive while 10 closed in the red. Foreign trades were almost square with sales and purchases amounting to $310 241 and $301 423, respectively.

Weighing down on the Industrial Index was Econet Wireless Zimbabwe Holdings Limited which lost -0,25 percent to 399c ahead of analyst briefing this afternoon as SeedCo Limited and parent AICO Limited traded -1,64 percent and -2,04 percent lower at 120c and 24c, respectively.

The worst performing counter was Zimbabwe Newspapers (1980) Limited which slipped -15,79 percent to 0,80c, a second consecutive loss in the wake of its June interims released last week.

The duo of clothing retail Edgars Holdings Limited and Truworths Holdings Limited lost -5,10 percent and -3,46 percent to 9.49c and 10,60c, respectively. Truworths is expected to release full year July 2011 financial results on Thursday.

A -5 percent loss in Hwange Colliery Company Limited to 57c saw the ZSE's Mining Index lose -2,96 percent to 147.91 points. Other mining counters recorded no trades. Rio Zimbabwe Limited was firm buyers at 60c with a distant offer at 90c.

Post published in: Business

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