Select heavyweights sustain ZSE’s rise but turnover remains low

Select heavyweights sustain ZSE’s rise but turnover remains low

HARARE – The local bourse continued to rally as the main stream Index extended its bull run adding a further 1.14 points to close at 162.34 Bindura traded 0.05c firmer with 8,195 shares changing hands at 3c.
Resultantly, the Minings index inched higher by 0.40 points to close at 69.63. Total turnover came in at $323,509.

FMHL dominated the day’s trading session with 1,003,244 shares changing hands; however the insurance giant lost 12.5% to close at 7c. Heavyweight Innscor also recorded notable volumes, the blue chip
traded flat with 247,000 shares changing hands.

CFI continued to rally adding 3.2% to close at 14.05c with 196,425 shares changing hands. The counter is up 44.25% year to date. Econet continued with its fine run as the telecoms giant added 1.15% to trade at 30.50c with 66,552 shares changing hands.

Demand for the heavyweight remained elevated, at market close bids were at 31.05 while offers were at 35c. Earlier today the counter published their full year results showing an 8.4% decline in attributable earnings to USD 37.0m. The company declared a final dividend of US 0.467 cents a share implying a cover of 5.8x and yield of 1.6%.

FBC who have also enjoyed a good run added 10% to close at 12c with only 1,025 shares trading. Meikles who announced at their AGM earlier this month that they had buried the hatchet with Government also continued with their rally. The counter added 6.2% to close at 21c with only 3,150 shares changing hands.

Old Mutual traded flat at 377c with 13,531 shares changing hands while Star Africa added 8.3% to close at 1.2c with 306,304 shares changing hands

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