Block trades in Delta, Old Mutual and Seedco drives activity as ZSE turnover spikes to $3 mln
Insurance24
HARARE, Activity on the Zimbabwe Stock Exchange (ZSE) on Tuesday improved strongly on the back of block trades in Delta, Old Mutual and SeedCo.
Turnover spiked to close at USD 3,924,929 with other notable trades being recorded in Econet and Hippo. The All Share Index recovered marginally, closing the day 0.16 points higher, on the back of wide spread gains across the mid tier stocks, despite a 0.09 point loss in the Top Ten category.
The Industrial Index added 0.56 points whilst the Mining Index closed flat with no activity in the sub sector.
The Insurance Monitor:
Old Mutual traded flat at 480cents and a total 109,848 shares exchanged hands. The diversified financial services group and insurer with other two heavy weight counters saw drove improved activity on the back of block trades.
Old Mutual continues to play a significant role in the country’s economy. Through its financial inclusion strategy the group is reaching out to the informal economy which is largely now the backbone of the economy, supporting them through various financing schemes. It is also constructing a SMEs mall in Harare which has now covered significant progress towards completion.
Other insurance players, Fidelity Life Assurance recorded no trade in today’s session. The company last year introduced a new funeral cover product called Fidelity Medicover, which is a unique Funeral Cover that offer policy holder’s free drugs cover.
First Mutual Holdings traded at 19.50c, while Nicoz Diamond Insurance and Zimre Holdings did not trade.
ZSE Listed Companies with Insurance Units
CBZ Holdings >CBZ Life
>CBZ Insurance
ZB Financial Holdings >ZB Life Assurance
>ZB Reinsurance
FBC Financial Holdings > FBC Reinsurance
>Eagle Insurance
Getbucks Financial Services > Getsure
Econet Wireless > Ecosure
