Bearish sentiment continue on ZSE


The Zimbabwe Stock Exchange (ZSE) continued its bearish trend on Friday after the industrial index shed 0,15 points (0,11%) to close at 142,57 points.
The value of trades was slightly above $300 000 down from $1,3 million on Thursday.

Natfoods tumbled 15 cents to 105 cents, despite releasing positive interim results and declaring a dividend of 1,2c.

PPC dropped 10 cents to settle at 260 cents and Colcom retreated 1,50 cents to 32 cents. During the six months to December 2011, Colcom recorded revenues amounted to $25,3 million underpinned mainly by an 8% increase in total volumes. Colcom declared a dividend of 0,53c.

Radar was down 0,50 cents to 17,50 cents, RTG lost 0,40 cents to trade at 1,20 cents and Starafrica slipped 0,20 cents to 0,70 cents.

On the an upward trend were, Afre gained 2 cents to 7 cents after the group officially announced the appointment of a new group chief executive officer Douglas Hoto. ZBFH was up a cent to 15 cents while AICO Africa pushed up 0,60 cents to 20 cents. Afdis and Pioneer both inched up 0,50 cents to close at 13 cents and 3,50 cents respectively.

Week-on-week the industrial index lost 1,80 points (1,25%).

The mining index was down 0,74 points (0,79%) to close at 92,38 points. Bindura was offered lower at 2 cents while Falgold, Hwange and Riozim were unchanged at previous trading levels.

Week-on-week the mining index was down 0,15 points (0,16%).