Delta and Econet drag Zim stocks lower

Delta and Econet drag Zim stocks lower

HARARE, February 17 (The Source) – The Zimbabwe Stock Exchange this week slipped 1,73 percent to 136,97 points on back of losses recorded by Delta and Econet, while the mining index remained stable at 60,73 points.

Heavyweights Delta and Econet lost 3,9 percent and 15 percent to close at 82 cents and 17 cents respectively.

Barclays fell 7,63 percent while Pearl retreated 1,73 percent.

Leading the gainers pack were ZB Financial holdings, TSL and CFI after gaining 11,87 percent, 5,56 percent and 2,93 percent in that order.

Colcom and Padenga added 2,86 percent and 1,49 percent to trade at 36 cents and 17 cents respectively.

Market capitalisation declined by 1,68 percent to $3,82 billion, while market turnover decreased by 2,22 percent to $2,43 million with average daily trades of $485,461 in the week under review.

No trades took place on the resources index during the week under review and as such, Riozim Bindura, Hwange and Falgold were unchanged at 32,5 cents, 4 cents, 3 cents and 1 cent in that order.

Foreigners remained net sellers, disposing of shares worth $1,65 million against purchases of $586,643.