Mixed Outcomes as ZSE Q2 Trading Kicks-Off

Author Name
Rugare Mukanganga
Author
Stock Market 1 week ago

On the 2nd day of 2020 Q2 trading, predominantly single digit share price gains and losses were recorded. 

Extending 1 April's losses were crocodile and mining specialists Padenga Holdings with a 9.32% price drop, closely followed by retailer Edgars with a 9.18% fall. Brick manufacturer Willdale also ended the day in red following their 6.78% share price loss, while telecommunications powerhouse Econet traded unfavourably with a 5% fall in price. Capping the top five losses was Daribord. The dairy giant ended the day with a 4.75% price drop on the same day of its introduction to the ZSE Top 25 Index.

 

Three counters from the ZSE Top Medium Cap Index traded favourably, with marginal gains recorded on the week's opening day of trading. Industrials manufacturer Genaral Beltings gained 9.04%, followed by Masimba with an 8.3% snag in share price. Property developer Mashonaland Holdings also recorded posotive movement with a 6.6% growth in their share price. Paper product & stationery producer Art Holdings' share price nudged upwards by 2.9%, while Chiredzi-based sugar producer Hippo Valley topped off the price rise list with a 2.5% improvement at the end of trading. 

 


Stock Market ● 1 day ago
Runaway Inflation Drags GetBucks Opex To New Heights

ZSE-listed microfinancer GetBucks posted a ZWL 45 million loss for the year ended December 31st 2020 following a hyperinflationary financial year. The Covid-19 pandemic compounded the Bank's losses in the period, with operational expenditure ballooning to ZWL 160 million at the end of 2020, up from ZWL 115 million in the 2019 financial calendar. Inflation on the other hand closed the year at a rea...


Markets ● 3 months ago
Old Mutual Exchange Traded Funds lists on the ZSE

Old Mutual ETF debuts on the ZSE Makes history as the first ETF to be traded on the ZSE More ETF listings expected in the near future Old Mutual became the first entity to successfully list and trade Exchange Traded Funds (ETFs) on the Zimbabwe Stock Exchange, after trades valued at $4,74 million were completed as the market resumed post holidays. Prior to the introduction of ETFs, the ZSE...

Markets ● 4 months ago
Powerspeed shareholders okays delisting

Shareholders voted to cut ties with the ZSE at an EGM The company had previously lamented that their listing was no longer beneficial The company will now proceed to buy back shares from minority shareholders The shareholders of electrical and hardware supplier, Powerspeed Electrical limited have approved a proposition to delist from the local bourse on the basis that it is no longer benefi...

Markets ● 4 months ago
FBC taps into the mobile money business

Financial institution and investment holding company FBC Holdings Limited has launched a mobile merchant and bill payments option capping a year of solid market moving digital products release. Since embarking on a digitisation program in 2018, the financial services group, has never been at its strongest than the current year. Earlier this year the bank went paperless, with automation of new acc...

Stock Market ● 4 months ago
PPC Zim records increased first half sales and earnings despite economic challenges

Harare – Regional cement manufacturer, Pretoria Portland Cement (PPC) says although trading conditions in Zimbabwe were characterised by a challenging economic environment and the impact of COVID-19 related lockdown restrictions, domestic cement volumes grew by 5% to 10% in the first half of its 2021 financial year supported by ongoing infrastructure projects. Headquartered in South Africa, PPC a...