Negative sentiment persists on ZSE

HARARE, August 8 (The Source) – The stock market remained in the red on Thursday as negative sentiment persisted with relations between President Robert Mugabe and the West continuing to deteriorate following his election victory last week.
Addressing his ZANU-PF party’s Politburo on Wednesday, President Mugabe vowed to press ahead with nationalist economic policies to transfer majority stakes in foreign-owned firms to blacks, leaving investors jittery.
The industrial index lost further ground by 1,17 points or 0,58 percent to close at 198,84 as investors remain uncertain of the country’s  future.
Major counters remained steady, but loses were in second tier firms AFDIS and Colcom who both shed five cents to 30 cents and 32 cents respectively.
Insurance group NICOZDIAMOND gained 0, 14 cents to 1, 70 cents while Star Africa moved up 0, 05 cents to close at a cent.
The mining index’s downward spiral continued, losing 2, 77 points or 4, 56 percent  to close at 57, 94 points following loses in Riozim, which shed five cents to 35 cents and Falcon Gold was offered lower at six cents.