Stock Market Weekly Review

26 Apr, 2019 - 10:04 0 Views
Stock Market Weekly Review

eBusiness Weekly

Enacy Mapakame
The Zimbabwe Stock Exchange (ZSE) extended gains last week with all the key indicators closing in the black.

In the week to Wednesday, the primary indicator, the ZSE All Share Index rose 0,82 percent to 127 points from previous week’s 125,97 points.

The ZSE Top 10 Index was 0,99 percent above prior week to 120,56 points as it narrowed year to date losses to 16,87 percent.

At 423,91 points, the Industrials Index was 0,83 percent above prior week level while the Mining Index had marginal gains of 0,05 percent to 186,88 points.

Total market value inched up 0,3 percent to close settled at $16,629 billion from $16,579 billion recorded in the previous week.

Headlining risers for the week, Turnall put on 30,91 percent to 7,2 cents. The roofing and building materials manufacturer, has indicated it intends to increase its product range to include production and supply of non-asbestos roofing materials, as part of the group’s wider strategy to explore export markets.

African Sun rose 19,63 percent to 19,14 cents after reporting a good performance for the year to December 31, 2018. The hospitality group recorded a 110 percent jump in profit to US$10,14 million from US$4,81 million in the prior year.

The group’s revenue grew 32 percent to US$68,50 million spurred by 7 percentage point’s increase in occupancy to 59 percent.

Banking group, NMB put on 14,29 percent to 24 cents ahead release of its financial results yesterday. At 24,97 cents, OK Zimbabwe was 11,77 percent ahead of prior week.

Biggest stock by market capitalisation, Delta, rose 7,4 percent to $2,45. The beverages giant aggregate demand went down for the fourth quarter and full year-ended March 31, 2019 as consumer spending contracted and foreign currency shortages persisted.

Severe foreign currency shortages to import raw materials saw Delta temporarily close its sparkling beverages business — resulting in the unit reporting an 89 percent volume decline compared to prior year for the quarter and decreased by 44 percent for the full year.

Revenue, however, registered a 33 percent increase for the quarter and 26 percent for the full year, an increase spurred by the distortions caused by changes in reporting currency from USD to RTGS$.

Delta’s 2018 full year financial results are expected to be released on May 16.

Insurance giant, Old Mutual ticked 6,88 percent to close the week pegged at $8,87 while hippo put on 5,88 percent to settle at $1,50.

At 41 cents, ZB was 5,13 percent above prior week level.

Other gains were recorded in Dawn which rose 3,73 percent to 2,5 cents while Simbisa advanced 2,24 percent to 81,79 cents.

Seed Co International inched up 0,37 percent to $1,42 while Axia and Natfoods rose 0,19 percent to 36,05 cents and 0,16 percent to $5,68 respectively, wrapping up the week’s risers.

The market was not short of bears. Insurance group, Fidelity Life gave up 20 percent to close pegged at 7,04 cents while NTS was 19,91 percent lower to 1,73 cents.

Property firm, Mashonaland Holdings retreated 19,67 percent to close the week pegged at 2,41 cents compared to 3 cents recorded in the prior week.

At 2,33 cents hospitality group, RTG was 19,66 percent lower while cement maker Lafarge wrapped the week’s top five fallers after letting go of 17,29 percent to $1,10.

Also on the downside, ZHL lost 16,29 percent to close pegged at 2,21 cents while diversified hospitality group, Meikles that backtracked 14,8 percent to 51,12 cents.

Biggest mobile network operator by assets and subscribers, Econet lost 7,23 percent of value to close the week at $1.

Other losses were recorded in brick making firm, Willdale that eased 4,98 percent to 2,1 cents while Star Africa and Zimpapers went down 4,55 percent to 1,05 cents and 4 percent to 8,16 cents. Property firm, ZPI was 1,95 percent weaker to 2,51 cents.

On the resources side, Bindura had marginal gains of 0,18 percent to 5,55 cents while RioZim was flat at $1,76.

Aklso maintaining prior week levels, Zimplow, Unifreight and Proplastics closed the week at 30 cents, 10,1 cents and 23 cents in that order.

Ariston, FBC and Getbucks also remained unchanged at 3 cents, 35 cents and 8 cents respectively.

Share This:

Sponsored Links