THE industrial index on the Zimbabwe Stock Exchange closed higher for the ninth consecutive day after gaining 0,66 points yesterday to end at 160,65 points.
Business Reporter
Mobile telecommunications firm Econet Wireless led the risers after it advanced 5,11 cents to 485,11c.
Econet on Monday announced that the just-ended festive season resulted in a surge in its subscriber base crossing the eight million level for the first time, supported by the recent introduction of Buddie Zone. The mobile phone operator could soon take over TN bank.
Cement manufacturing firm Lafarge added 5c to 60c and Meikles pushed up 2,99c to settle at 24 cents. Innscor inched up 0.81c to trade at 77,01c despite a recent ultimatum issued by the Indigenisation ministry for it to dispose 51% to locals as required by the country’s equity laws.
FBCH was up 0,50c firmer at 7c.
However, Seedco retreated 3c to 74c. Radar lost 2c to 12c and DZLH eased 0,25c to trade at 23c.
The mining index was unchanged at 72,25 points with Bindura, Falgold, Hwange and RioZim unchanged at the previous trading level.
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On Monday the industrial index closed higher for the eighth consecutive day after gaining 0,09 points to close at 159,99 points driven by Bat, TPH and DZHL.
BAT added 40 cents to trade at 400 cents, DZLH rose 2,25c to settle at 23,25c and TPH (TPH.zw) gained 0,50c to close at 10c.
Innscor advanced 0,20c to trade at 76,20c.
On the downside, TA Holdings retreated 2c to 8c. Edgars and Fidelity Life eased a cent to 8c and 10c respectively. Hunyani shed 0,60c to close at 2,60c and Padenga HLDS was 0,30c weaker at 4,70c.
Biti invites Mumbai, JSE to take shares
Finance minister Tendai Biti recently said Treasury had invited the Mumbai and Johannesburg stock exchanges to take up shareholding on the Zimbabwe Stock Exchange (ZSE) as part of efforts to shore up the performance of the local bourse.
He said the long-awaited automation of the local bourse would take place in the first quarter of next year together with the operationalisation of the Central Securities Depository system (CSD).
The ZSE has been failing to automate due to the delays in the appointment of the commissioners and the setting up of the CSD.
