Positive close on Friday for ZSE

16 Jan, 2023 - 00:01 0 Views
Positive close on Friday for ZSE ZSE

eBusiness Weekly

Business Writer

The ZSE All Share Index recovered by a marginal 124.23 points to close at 21 981.41 points in the last trading session of the week.

Gains were recorded in Tanganda as the tea company added $7.76 in the session to move to $114.81 per share.

Another agro based diversified firm, TSL Limited, increased its share price by $5.99 to close Friday trading at $50.10 per share.

Meikles, which is looking to increase its retail shops footprint in the country, was $4.99 up on Friday to trade at $135.04 whilst hotelier African Sun share price increased by $3.00 to $30.00.

Zimplow Holdings gained $2.20 to $22.20.

Losses were recorded in clothing manufacturer and retailer, Truworths which went down by $0.34 to $2.43, and conglomerate Innscor, which is still trading under a cautionary saw its share price decrease by $0.18 to close the day at $699.90.

Banking stock First Capital Bank shed $0.10 to trade at $16.00 as Star Africa lost $0.03 to $2.11 and Delta was $0.0321 lower at $419.9845.

In the ETF market, Morgan & Co Multi Sector ETF recovered $0.88 to close at 22.88 with the Morgan & Co Made in Zimbabwe ETF added $0.10 to $1.30 and Cass Saddle Agriculture ETF remained flat at $1.85.

Trading in the negative was the Datvest Modified Consumer Staples ETF, which decreased by $0.01 per unit to $1.50, and Old Mutual ZSE Top 10 which was down $0.42 to $7.00.

Tigere Real Estate Investment Trust added $0.02 to close at $54.1697.

Oil prices slipped in early trade on Friday but were on track for gains of more than 6 percent for the week on solid signs of demand growth in top crude-oil importer China and expectations of less aggressive interest rate rises in the US.

Brent crude futures had fallen US33c, or 0,4 percent, to US$83.70 a barrel, while US West Texas Intermediate (WTI) crude futures slipped US20c, or 0,3 percent, to US$78.19.

Brent has jumped 6,7 percent so far this week and WTI is up 6,2 percent, recouping most of last week’s losses.

Gold prices ticked higher on Friday and were on track for a fourth consecutive weekly gain, supported by a weaker dollar and expectations of slower interest rate hikes by the US Federal Reserve.

Spot gold was up 0,1 percent at US$1 898.57/oz and prices gained 1,8 percent so far this week. US gold futures rose 0,1 percent to US$1 899.60/oz.

Spot silver edged 0,1 percent higher to US$23.79/oz, platinum gained 0,1 percent to US$1 068.79 while palladium slipped 0,6 percent to US$1 780.91. All three metals were headed for a weekly drop.

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