ZSE ends four-day losing streak

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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.

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.