Block Econet trade lifts ZSE turnover to $3.9 mln, as insurers are saved by OM
By Insurance24
HARARE, Decent trades in insurer Old Mutual and other blue-chip counters saw the Zimbabwe Stock Exchange (ZSE) turnover closing the week on an improved note at $3.9 mln up from $700 000 yesterday.
A total 67.784 Old Mutual shares exchanged hands on a share price of 540.01c while other insurers remained inactive. These are ZHL, FMHL, Nicozdiamond and Fidelity Life Assurance.
A block trade in Econet of 3.019.935 shares accounted for bulk of today’s session total volume traded.
The group yesterday announced that it had paid a $50 mln dividend to shareholders for the nine months ended 30 September 2017. Econet posted a 17% growth in revenue to $353 mln with profit amounting to $49 mln for the half year period ended August 31 2017.
Diversified group Innscor saw a total 435,336 shares trading while crocodile skin producer Padenga’s 891,790 shares exchanges hands.
The market closed in the red with the All Share Index down 0.62 points on the back of a 2.10 points loss in the Industrial Index.
The Top Ten Index retreated 0.76 points on the back of a loss in Delta and Econet. The Mining Index was unchanged with no trades in the subsector.
