HomeNewsSpecial bargains continue on ZSE

Special bargains continue on ZSE


The Zimbabwe Stock Exchange (ZSE) recorded its third block deal of the week on Wednesday when 185 million Ariston shares valued at just above $2 million exchanged hands.

On Monday and Tuesday there were block deals involving OK Zimbabwe and Hippo Valley.

Fifty million OK Zimbabwe shares valued at $5,25 million were sold, while those involving Hippo amounted to $5 million.

A special bargain is where shares are acquired for higher or lower than their market value.
The special price is negotiated between buyer and seller.

Despite the increased number of block deals on the ZSE, volumes have remained largely thin as a result of the prevailing economic environment.
In yesterday’s trade, the industrial index closed the week 0,10 points lower ahead of the holiday that begins today to close at 135 99 points.

Econet reversed the five-cent gain of the previous day to close at 380 cents, Seed Co eased two cents to trade at 102 cents, while Aico Africa lost 1,50 cents down to 15 cents.

Inscor and TSL both traded a cent lower at 57 cents and seven cents respectively.

Trading in the positive territory, Old Mutual rose 2,01 cents to settle at 172,01 cents and CBZ added a further 0,51 cents to close at 7,01 cents.
Other gains were recorded in Hunyani and Zimplow that went up 0,50 cents to 7 cents and 8,50 cents.

On a week-to-week basis, the industrial index lost 0,77 points compared to week ending March 30 2012.

The mining index increased 2,64 points 3,05% to close at 89,21 points.

RioZim was five cents solid at 60 cents and Bindura added 0,60 cents to close at 2,30 cents.

Falgold and Hwange were unchanged at 10,25 cents and 26,50 cents respectively.

Week-on-week the mining index gained 4,20 points (4,94%).

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