Source: ZSE closes July on front foot | The Herald August 1, 2017
Tawanda Musarurwa Senior Business Reporter
Both of Zimbabwe Stock Exchange’s indices closed the final session of July on the front-foot, to sustain the local equities market’s prolonged bull-run. The market is now up 40,64 percent year-to-date.
The ZSE’s mainstream Industrials Index ended the month above the 200 “psychological” mark – which was last achieved in 2014 – a reflection of the bull-run that the market has been on over the last couple of months.
And the bourse’s Minings Index closed the month on the black, attaining a 6,10 percent gain to touch 69,44 by close on the back of gains in two of its four counters.
CFI was the market’s top performing stock up 121,72 percent to $0,3725 as the counter continues to move on shareholder squabbles that have seen the share price trade at a premium of 69,31 percent to the mandatory offer of $0,22.
The ZSE’s daily market aggregates were rather cowed with the market spend 30,6 percent lower compared to Friday’s trading session. Volumes were 34 percent lower compared to the previous session at 4,86 million shares.
Foreign buys amounted to $20 000, while foreign sales amounted to $49 000, continuing an undesirable fund depletion.
Driving the gains in the mainstream Index was the country’s largest quick service restaurant (QSR) operator, Simbisa Brands whose stock gained 11, 11 percent following last week’s reports of the firm’s plans of a secondary listing on the London Stock Exchange’s junior market – the Alternative Investments Market (AIM).
Simbisa, which seeks to raise capital to expand as well as for a potential foreign acquisition, led the risers in yesterday’s trading on the Zimbabwe Stock Exchange (ZSE) with a $0,0250 bump in share price to trade at $0,2500.
The QSR group owns the following popular brands: Pizza Inn and Chicken Inn, as well as franchises for Nandos and Steers of South Africa, and it operates outlets in 11 African countries, including Kenya, Ghana, Zambia and Mauritius.
Other gainers that pushed the local bourse to continual rallying mode included telecoms giant Econet which put on $0,0082 to end at $0,4000 while seed producer Seed Co added $0,0075 to $1,3900.
Also trading in the black was Axia Corporation which was up by $0,0050 to close at $0,1250 while Padenga was $0,0015 stronger at $0,2790. Sugar processing and packaging group StarAfrica Corporation’s stock firmed 8,33 percent to settle at $0,0130.
BAT, AFDIS, FBC and Innscor traded unchanged at $18,0500, $0,6000, $0,1360 and $0,7275 respectively.
There were no trades in the negative. RioZim gained $0,0500 to close at $0,6000 and Hwange added $0,0010 to $0,0260, driving the mining index up by 3,99 points.
The other two mining counters, nickel producer Bindura and gold producer Falgold remained unchanged at previous trading levels at $0,0245 and $0,0100, respectively.
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