ZSE awaits economic direction from new govt

HARARE, November 28 (The Source) – The Zimbabwe Stock Exchange added 5,47 percent to settle at 351,94 points on Tuesday as investors wait to see the economic direction the new government will take.

President Emmerson Mnangagwa dissolved the Cabinet put in place by former leader Robert Mugabe on Monday, appointing Patrick Chinamasa and Simbarashe Mumbengegwi to the finance and foreign portfolios in acting capacity.

Beverage maker, Delta gained 19,86 percent to settle at 173,25 cents while Econet gained 5,82 percent to settle at 109,58 cents.

Old Mutual and OK Zimbabwe gained 8,30 percent and 6,71 percent to settle at 537,97 cents and 17,98 cents respectively.

Axia advanced 9,94 percent to trade at 19,79 cents.

Partially offsetting the gains recorded by the mainstream index was Innscor which eased 0,48 percent to settle 110 cents.

Additionally, Lafarge and PPC eased 9,72 percent and 2,22 percent to settle at 130 cents and 176 cents respectively.

FML and Simbisa also eased 2,06 percent and 0,88 percent to settle at 19,5 cents and 49,56 cents respectively.

The mining index however remained flat at 126,63 points.

Market capitalisation stood at $10,08 billion while turnover amounted to $4,6 million.

Foreigners were net sellers in the day, disposing of shares worth $2,2 million compared to buys worth $288,014.

Editors Note: In the story “undefined” sent at: 28/11/2017 17:07

This is a corrected repeat.