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Zimbabwe stocks close marginally higher

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Zimbabwe stocks closed marginally higher on Thursday on selected buying and an overall drop of 452 000 in the value of shares.

Gains in heavyweight counter SeedCo and Meikles saw the ZSE industrial picking up 0,30% to 159,47 points.

SeedCo hit a record high of 120 cents after gaining 4,9 cents. Meikles was 1,01 cents firmer at 50,01 cents. FBC’s ZSE-10 index gained 0,12%, which was weighed down by weak trades in Hwange and Innscor. Innscor shed 0,5c to 55,5c.

Delta, which contributed at least a third to SABMiller’s volume growth in Africa, traded unchanged at 72 cents. ZHL Insurance was the lead rise putting on 3,11% to 78,30 points after Nicoz Diamond gained 0,2 cents to 2 cents.

On the wider market, the Datvest all-share index was up to 0,26 to 107,37 points with a year to date gain.
MBCA’s minings index was the main faller, losing 1,45% to 75,04 points.

Pioneer, currently on cautionary, remained at 0,6 cents. Pioneer has in recent days been publishing a cautionary statement advising shareholders that the company is currently engaged in discussions that may result in a transaction that could have a material impact on the value of the company’s shares.

Bankers NMB topped performers table after rising 0,3c to 1,3c while Afdis was the worst performer losing 4c to 11c.

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