Cigarette manufacturers, British American Tobacco (Zimbabwe Limited (BAT) weathered the indigenisation storm to post an impressive +14,91 percent gain to 131c on buying pressure after a solid set of interims in which the group reported a bottom line of $1,961 million (Earnings Per Share (EPS) of 11c) sweetened with a dividend of 10c per share (91 percent payout ratio and 8,7 percent dividend yield).
Diversified banking and furniture group, TN Financial Holdings Limited (TN) whose unique business model seems to be paying off after presenting an exciting set of financials last week, still found favour among investors putting on 2,21 percent to close at 1,85c (52-week high) with foreign investors also warming up to the group after foreign investors bought 18 percent (500 000 shares) of the total 2,8 million shares traded.
Other notable gains were seen in telecommunications giant Econet Wireless Holdings Zimbabwe Limited (Econet) up +0,97 percent at 415c, SeedCo Limited added 0,82 percent to 123c while CBZ Financial Holdings Limited (CBZ) put on +2,80 percent to 14,7c ahead of its analyst briefing later today.
Companies with corporate events include NMB Financial Holdings Limited (NMBZ) also with a briefing today that closed buyers only at 1,3c, Turnal Holdings Limited also presenting results today recorded no changes at 14,3c.
By the close of trade the main stream index was up +0,49 percent at 160.58 points while value traded improved significantly to $2,2 million buoyed by heavy foreign participation.
Volumes traded surged to 13,1 million units, the bulk of which were traded in Mashonaland Holdings Limited, TN and beverages group Delta Corporation Limited (Delta).
Foreign investors were however net seller after buying 2,9 million shares worth $1,5 million against outflows of $1,6 million from 3,1 million shares.
Among individual counters Delta was the favourite counter of the day putting on +0,64 percent to 79c in normal trades while a special bargain trade of 1 579 758 shares was executed at 78c in a trade worth $1 232 211.
There were no trades in the resources sector as Rio Zimbabwe Limited (RioZim) closed buyers at 80c and offered at 90c while major coal producer Hwange Colliery Company Limited (HCCL) was bid and offered at 58 and 60, respectively.
Post published in: Business