eBusiness Weekly
Business Writer
The ZSE All Share Index added 270.92 points or 1,90 percent to close the session at 14 509.78 points.
The market will see a new product being listed tomorrow in the form of Real Estate Investment Trusts, as the Tigere REIT lists but will begin trading on December 01.
Trading in the positive was BAT, which increased its share price by $155.00 in the session to $3 100.00 as Innscor which is making headlines with its new brewery business added $24.10 to close at $344.60.
ZSE’s largest firm by valuation, Delta traded $4.01 higher at $232.25 in the session after news that it is planning to extend its opaque beer lines in order to meet demand.
Property firm, Mash Holdings, also had a good session as it gained $2.32 to $17.80 whilst Seed Co went up by $1.10 to close at $72.25.
Reversing the gains was Dairibord, which shed $3.33 to slip to $41.67 per share, whilst Proplastics also lost $1.08 to end the trading session at $25.00. Hippo Valley lost $0.96 to $200.04 as farmers are said to be concerned that Tongaat Hullet the parent firm to Hippo is under administration.
First Mutual Properties traded $0.25 lower at $10.00.
In the derivatives market Morgan & Co MIZ ETF, added $0.16 to $1.37 as the CSAG ETF remained flat at $2.00.
On the losing end was the OMTT ETF which shed $0.65 to close the session at $5.39, as the DCMS ETF lost $0.17 to end the day at $1.53 and to cap the losers, the MCMS ETF decreased by $0.17 to $20.83.
Gold prices ticked up on Tuesday, helped by a softer dollar, while market participants awaited more clarity on the US Federal Reserve’s rate hike stance.
Spot gold was up 0,3 percent to US$1 745.22 per ounce, US gold futures rose 0,3 percent to US$1 745.40.
Bullion prices fell about 1 percent in the previous session after hawkish comments from US Federal Reserve officials. Fed presidents James Bullard and John Williams said there was a long way to go to fight inflation.
Spot silver gained 0,9 percent to US$21.10, platinum rose 0,9 percent to US$997.25 and palladium was up 0,7 percent to US$1 857.00.
Oil prices jumped by 3 percent on the hope for a relaxation of China’s strict Covid-19 controls after rare protests in Chinese cities at the weekend.
Brent crude futures gained US$2.50, or 3 percent, to US$85.69 a barrel. US West Texas Intermediate (WTI) crude futures rose US$1.98, or 2,6 percent, to US$79.22.
