eBusiness Weekly
Tapiwanashe Mangwiro
The Zimbabwe Stock Exchange (ZSE) brought post-Christmas cheer to investors after 16 stocks recorded gains while only two lost some ground in the first day of trading after the holidays.
The ZSE opened the week in the positive with the ZSE All Share Index soaring 712,31 points or 4,11 percent gain to close at 18 063,16 points.
Leading the positive movers was VFEX-bound Innscor, which increased by $42,63 to $561,74 while the country’s largest company by valuation, Delta, extended its run by gaining $16,03 to $354.92.
Axia, which is trading under a cautionary note, added $10,16 to close the session at $114,35. Econet gained $9,44 as its share price rose to $89,64 while Afdis was up $3,34 at $263,37.
Only two counters recorded losses on the bourse with Mash Holdings shedding $1,8 to $10,95 whilst cigarette maker BAT lost $0.67 to close the day at $2 799.33.
In the derivatives market, the Datvest Modified Consumer Staples ETF ticked $0,01 to $1,61 with the Morgan & Co Made in ZimbabwE ETF, Cass Saddle Agriculture ETF and Morgan & Co Multi Sector ETF remained flat at $1,14, $1,75 and $23, respectively
The Old Mutual ZSE TOP 10 ETF lost $0,26 to $6,51 ending the day as the sole loser of the day.
Tigere Real Estate Investment Trust remained flat at $38.
Gold prices fell on Wednesday from last session’s six-month peak as the dollar firmed and Treasury yields remained elevated, while investors weighed the worsening Covid situation in top bullion consumer China.
Spot gold was down 0,7 percent at US$1 800,49 per ounce, having hit its highest since end-June on Tuesday. US gold futures dropped 0,9 percent to US$1 807.50.
In other precious metals, spot silver slipped 1,7 percent to US$23.65 per ounce and platinum eased 0,3 percent to US$1 017.05.
Palladium dropped 1,1 percent to US$1 809.80.
Oil prices fell on Wednesday on concerns that rising Covid-19 cases in China, the world’s top oil importer, will disrupt its economic recovery and fuel demand growth as it unwinds its pandemic restrictions.
Brent futures for February delivery fell US$0,78, or 0,9 percent, to US$83,55 a barrel. US crude fell US$0,75, also 0,9 percent, to US$7 878 per barrel.
