HARARE - The Zimbabwe Stock Exchange (ZSE) was closed on Monday for the May Day celebrations in Zimbabwe and worldwide. It re-opened firm, with most counters gaining by at least $0,01.
Counters that shot up included diversified firm AICO Africa Limited which gained by $0,01, beverage concern Delta Corporation Limited (Delta) also up by $0,01, milk producer and processor Dairibord Holdings Zimbabwe Limited (DHZL) up by $0.01, financial institution Barclays Bank Zimbabwe Limited, up by $0,45 and Powerspeed Limited, up by $0,29.
The Mining Index, on the other hand, was mainly unchanged for the period under review.
The ZSE said counters that raked in losses included Bindura Nickle Corporation, the mining concern, down by $0,06, TSL Limited down by $0,05, Hunyani Holdings Limited, also down by $0,03 and Star Africa Corporation Limited down by $0,30.
The Minister of Indigenisation, Savior Kasukuwere has revealed that six mining concerns have already told him that they would comply with his 51 percent indigenisation regulations where they must cede their shareholding to locals.
Insiders said top mining concerns such as Rio Tinto Zimbabwe, Unki Mine Limited, gold producer the Freda Rebecca Mine and Zimplats Limited were among the six that had complied with the government’s stringent new mining regulations.
Once rated among the best performing bourses in Africa, the ZSE is now lack-lustre.
However the use of the United States greenback and South African Rand as legal tender makes the bourse lucrative for many punters who point out that this is “real money”.
Post published in: Manufacturing