Mixed Outcomes as ZSE Q2 Trading Kicks-Off

Author Name
Rugare Mukanganga
Author
Stock Market 6 months 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 week ago
Room for FMCG ETF on ZSE

Since its January 4th debut on the ZSE this year, Old Mutual Limited's Exchange Traded Fund (ETF) has had an impressive run so far, presenting a good case for market interest in alternative financial investment instruments through formal & regulated channels. YTD price up 300% YTD market cap up 616% at ZWL 574.5m Broadly speaking, the ETF tracks and mirrors trading performance of the ZSE’s...


Stock Market ● 3 weeks ago
Cassava's trade suspension another thorn in ETF's side

Having violated ZSE listing requirements, shares of Cassava Smartech have been suspended from trading (effective October 1st 2021). The firm was due to publish its set of financial statements for the year-ended February 2021. Seven months later & no financials are out. Cassava’s market cap stood at ZWL 81.5 billion, with the firm well-positioned among the ZSE’s basket of “market heavies” – the To...

Stock Market ● 3 weeks ago
ZSE sustains record highs as magnitude subsides

The ZSE sustained record-breaking momentum in mid-week trades albeit at subsiding levels. The mainstream All Share Index surged by 1.97% in today’s session, a slow-down from an average daily gain of 3.7% over the past 5 days, to close at an all-time high of 8586.7 points. This is due to a -78% decline in demand as well as subsiding margins in market heavies and penny stocks respectively. On t...

Markets ● 3 weeks ago
Suppressed HY-21, Rosy Year-End Lined-Up For RTG

In the six-months ended June 2021, the Rainbow Tourism Group's occupancy closed the period at 24%, a 4% improvement from prior year levels. Inflation-adjusted revenue grew to ZWL 706m from ZWL 462m, representing a 53% growth. The Group says that in the face of business interruptions, gross margins managed to rise from 63% to 67% in the period. At ZWL 161m, EBITDA ended the half-year 6% down from...

Stock Market ● 3 weeks ago
Challenging the ZSE's "top performing stock market" narrative

After surpassing its own performance record (again), the ZWL-denominated exchange extended 2021 gains as the market’s counters continue facing economic uncertainties in the closing quarter of the year. Index up 198% YTD ZWL continues to depreciate Parallel market remains out of control Unlike steady-moving regional peers, the ZSE’s All Share Index (ASI) has nearly doubled its 2020 year-end...