ZSE ends losing streak ahead of Mugabe inauguration

HARARE, August 21 (The Source) – The stock market ended its two-week losing streak, with the main index gaining 0.39 points to 183.14 points ahead of the inauguration of President Robert Mugabe on Thursday.

The slight recovery was as a result of gains in mainly Hippo, OK Zimbabwe and Meikles which added 5 cents and the latter two one cent each to 105 cents, and 21 cents 30 cents respectively.

Hotelier RTG, which released interims earlier in the day showing it had returned to profitability, also went up marginally 0.11 cents to 1.21 cents and African Sun 0.07 cents to settle at 2.07 cents.

However, some big cap counters remained in the red, with Delta trading one cent lower to 113 cents with a turnover of $612 000.

Mobile giant Econet shed 0.47 cents to 50 cents with a turnover of $418 000 after it was directed on Tuesday by the Postal and Telecommunications Regulatory Authority to reverse its recent 60 percent cut on mobile tariffs.

For the third day running, the mining index was flat at 48.05 with Hwange, Bindura, RioZim and Falcon Gold all unchanged.