ZSE ends four-day losing streak

The benchmark industrial index was up 0,36% to 146,64 points yesterday, ending a four day losing streak propelled by gains in Zimre Property Investment (ZPI), Axia and Delta. The industrial index last posted gains on November 14.

Source: ZSE ends four-day losing streak – NewsDay Zimbabwe December 22, 2016

BY BUSINESS REPORTER

During yesterday’s trade, ZPI gained 17,6% to 1c from 0,85 cents. Axia firmed to 6,70 cents from 6,50 cents. Delta gained 0,95% to close at 90 cents from 89,15 cents on a day in which Anheuser-Busch InBev agreed to sell its majority stake in Africa’s largest Coke bottler to the Coca Cola Company for $3,15 billion. Delta is now an associate of AB InBev.

The mining index was down by 1,33% to 58,51 points dragged by Bindura which shed 0,10 cents to close at 4 cents.

Yesterday’s turnover value was $732 236 up from the $274 880 realised on Tuesday.

Turnover on the Zimbabwe Stock Exchange is expected to close the year lower than the projected $240 million.

Economic challenges such as cash shortages and delays in paying out dividends to shareholders due to cash challenges have haunted the stock market.

This has had a knock-on effect on companies, as they have been failing to procure supplies on time. The advent of bond notes has eased the transaction challenges spurring activity on the bourse.

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