Zimbabwe to establish one of Africa s biggest financial institution thezimbabwemail.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thezimbabwemail.com Daily Mail and Mail on Sunday newspapers.
IN the face of weakening economic fundamentals in Zimbabwe, the Zimbabwe Stock Exchange (ZSE) has proved a safe haven for investors with the ZSE All Share Index surging 1046% in 2020. This has been carried over into 2021 as the local bourse sustained rallying momentum in the first week of February along with global shares, as the ZSE All Share Index edged 11,43% to close at an all-time-high of 4012,47 points. In 2021 so far, the market is up by over 55%, thanks to the second best January performance in a decade.
However, the past 24 months have seen no brand new listings of companies and an increase in the number of delistings. The pressures of Covid-19, the contraction of the economy by 4,1% in 2020, government interference with capital markets, high listing costs and a poor operating environment are some of the reasons ZSE listed firms have sought delisting. Furthermore, local companies have been pushed into amalgamations, unbundling and the pursuit of listings on alternative mark
HARARE – Midcaps outperformed the stock market on Tuesday although trading remained lacklustre with turnover failing to cross the $100 million mark.
Turnover was at $94.16 million in 278 trades. CBZ Holdings and Delta contributed the most to turnover $33.37 million and $32.62 million, respectively. Foreign sales were at $30.46 million with $22.73 million of that coming out of Delta. Foreign buyers were at $13.45 million with Hippo making up the most at $11.18 million.
First Mutual Properties led the session risers as it added 44c to 264c, an increase of 20.00%. Zimre Holdings, which underwent a consolidation as part of a new strategic focus, made a 19.95% rebound to 249.50c as it improved its market capitalisation to $3.82 billion.
ZSE shares roar on across the board gains thezimbabwemail.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thezimbabwemail.com Daily Mail and Mail on Sunday newspapers.
HARARE – Stocks ended the shortened week higher ahead of the Christmas break buoyed by gains in select heavyweights as CBZ Holdings continued to sustain turnover.
Activity levels were improved with a trade count of 347. Turnover was at $92.1 million led by CBZ’s $50 million contribution. Ariston led on volume at 924 600 from a total 5.3 million shares. Foreign sales were at $23.62 million against buys of $5.27 million.
BAT Zimbabwe led the risers gaining 19.79% to 40 000c taking its market capitalisation to $8.25 billion. OK Zimbabwe added 5.34% to 783.69c and Padenga Holdings put on 5.15% to 1 900c. Marginal gains were seen in Hippo, Econet and Innscor.
At close, the All Share Index was up 1.28% to 2 243.43 taking its year to date gain to 875.02%.