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ZSE revenue down 23pc over six months

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HARARE, Herald (Aug 3, pg B1) Zimbabwe Stock Exchange revenue for the six months to July 2016 fell 23 percent to $14 million on the back of a significant fall in volumes traded. Statistics from ZSE also show that the volume of shares that were traded retreaded by 36 percent to 56.52 million shares during the period in review. Trade was concentrated in bellwether stocks with beverages manufacturer, Delta Corporation accounting for half the value that was traded. Coming a distant second was seed producer, Seed Co, which accounted for only 14 percent and mobile phone network operator, Econet at 13 percent. The local bourse has lost nearly 14 percent of its year to date value, as the weak economy continues to weigh down on the value of local stocks. This comes as the stock market, which opened this year at $3.3 billion, has fallen and is trading below the psychological (rebase) 100 level barrier. But the ZSE was not the heaviest faller in the region in the six months to June with at least two other exchanges recording a worse outturn.

 

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